DOSM: Many T20 & M40 Households Fell Into Lower Income Groups In 2020

(Image: Mashable)

A report by the Department of Statistics Malaysia (DOSM) has shown that a majority of Malaysian households has experienced a decline in income due to the ongoing Covid-19 pandemic, causing many of them to fall from their current income group into a lower group. The Household Income Estimates and Incidence of Poverty Report 2020 that was published earlier this month revealed that this trend is apparent in all B40, M40, and T20 income groups.

Specifically, DOSM’s report noted that 20% of households from the M40 group (income between RM4,850 and RM10,959) have fallen into the B40 group – which is consistent with an
earlier commentary made by several economists
. Similarly, 12.8% of the T20 group has also shifted into the M40 income group.

More worryingly, there was an addition of 12.5% in households with income less than RM2,500 in 2020.

Additionally, DOSM pointed out that there has been a larger decrease in income for the B40 and M40 income groups as compared to the T20 income groups. This effectively caused the income distribution for B40 to decline to from 16% in 2019 to 15.9%, and for M40 to drop from 37.2% in 2019 to 36.9%. T20 group, on the other hand, owned the remaining 47.2% of income distribution – which, interestingly, saw an increase of 0.4% from 2019.

(Image: Malay Mail/Firdaus Latif)

Aside from that, the report also showed that the overall household incomes have dropped in 2020, with the mean of monthly household gross income decreasing by 10.3% to record RM7,089 as compared to RM7,901 in 2019. The median of monthly household gross income – which was recorded at RM5,209 – also declined by 11.3% as compared to 2019 at RM5,873. This, too, is consistent with the findings from an earlier DOSM report that
highlighted a decline in mean monthly salaries and wages in 2020
.

According to DOSM, this decline in monthly household gross income is attributed not only to the loss or reduction of income among employees and self-employed individuals, but also by the reduced working hours. An increase in skill-related underemployment, too, has also contributed to the situation.

(Image: Bernama)

The report further highlighted an increase in the number of poor households, rising from 405,400 households in 2019 to 639,800 households in 2020. The incidence of absolute poverty also increased from 5.6% in 2019 to 8.4%, whereas hardcore poverty is estimated to increase from 0.4% in 2019 to 1%.

Despite the somewhat bleak data for 2020, however, DOSM believes that this situation is only temporary and will improve. “Overall, the outbreak of Covid-19 pandemic has had a significant impact on the household income and subsequently affected the structure of household groups. The impact may be temporary as the economy is expected to improve and recover as the spread of pandemic can be contained,” it emphasised.

(Source:
DOSM
)

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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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All The Additional Measures For SMEs Under The Extended PRIHATIN Stimulus Package

Prime Minister Tan Sri Muhyiddin Yassin has announced several additional measures under the PRIHATIN Economic Stimulus Package aimed specifically at small and medium-sized enterprises (SMEs). The extended package or “Prihatin Tambahan” is worth RM10 billion and is aimed specifically at reducing the financial burden of SMEs and ensuring job continuity in Malaysia.

Increased allocation for wage subsidy programme

The government has increased the allocation for the wage subsidy programme that was revealed in the first Prihatin Economic Stimulus Package announcement. Under the additional measures, the allocation for this programme will be expanded from RM5.9 billion to RM13.8 billion – an increase of RM7.9 billion altogether. It is expected to benefit a total of 4.8 million workers.

Under the
previous version of the wage subsidy programme
, the government offered a RM600 salary subsidy for three months to all employees earning less than RM4,000 a month whose employers have suffered a loss of income of more than 50% since 1 January 2020.

With the increased wage subsidy programme, the 3-month wage subsidy offered will be tiered according to the size of the company.

RM600 subsidy
 for each eligible worker for companies with
more than 200 employees
. The subsidy will be given to a maximum of 200 employees (an increase from the 100-employee limit as announced previously).

RM800 subsidy
 for each eligible worker for companies with
76-200 employees
.

RM1,200 subsidy
 for each eligible worker for companies with
up to 75 employees
.

The programme is available for employers who are registered with the Companies Commission of Malaysia (CCM), the local authorities, and SOCSO before 1 January 2020. Companies with Malaysian employees earning RM4,000 and below for three months can benefit from the wage subsidy. Employers who choose to accept this wage subsidy are bound to keep their workers in employment for at least 6 months – that is, 3 months under the wage subsidy and 3 months after that.

New PRIHATIN Special Grant for eligible micro SMEs

The government will provide RM3,000 for each micro-enterprise under its new PRIHATIN Special Grant, with a total allocation of RM2.1 billion. The micro-enterprises must be registered with Lembaga Hasil Dalam Negeri (LHDN) to be eligible and the government will obtain the list of eligible micro-enterprises from the authorities.

0% interest for micro-credit scheme

In the initial PRIHATIN Economic Stimulus Package announcement, the
microcredit facility
 by Bank Simpanan Nasional (BSN) saw a fund injection of RM500 million, with the interest rate lowered from 4% to 2%. However, the government has announced that it will be abolishing the 2% interest rate for the Micro-Credit Scheme. The scheme is also extended to TEKUN Nasional with a maximum loan amount of RM10,000 per company at an interest rate of 0%.

Rent exemption or discount for SMEs

SME retail owners who are paying rent for premises owned by government-linked companies such as MARA, PETRONAS PNB, PLUS, and UDA will have their rent exempted or discounted.

The government is also encouraging the private sector to follow suit and offer rental discounts during the movement control order (MCO) period and the next three months after. Property owners who offer a rent discount or exemption to their SME tenants will be allowed tax deductions equal to the amount of the rent deduction for the months of April to June 2020. This tax break is dependent on the condition that the rent discount is at least 30% of the original rental amount.

Reduced foreign worker levy

The government is allowing a 25% decrease on the foreign worker levy to all companies whose employees’ permits are ending between 1 April and 31 December 2020. However, this levy decrease is not applicable to domestic helpers.

Call for licensed moneylenders to offer moratoriums

Licensed moneylenders are encouraged to offer a 6-month moratorium on the monthly credit repayments for SMEs, similar to what is currently being offered by the banks regulated under
Bank Negara Malaysia
.

Automatic moratorium for statutory documents to CCM

Companies who need to present their statutory documents to the CCM will be granted an automatic moratorium of 30 days from the last day of MCO, to help address the mobility difficulties in doing so.

The deadline for surrendering company financial statements is also extended to 3 months after the end of the MCO period.

***

According to the prime minister, the extended PRIHATIN package has been introduced in response to feedback from SME associations as well as those in micro-enterprises who have requested that government look over the benefits directed towards them.

“I acknowledge that SMEs are the root of the nation’s economy,” said Tan Sri Muhyiddin Yassin. “This sector contributes to more than two-thirds of the nation’s jobs and up to 40% of the economy. As such, it is important to ensure that the SME sector stays resilient against the pressures and economic challenges of these current times.”

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Jacie Tan

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    Manonmoney Natchimthu

    3 years ago

RM3,000 for each micro-enterprise under its new PRIHATIN Special Grant,

Is this automatic or need to apply?

If apply ,please tell us how

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Standard Chartered Unveils Its New Journey Credit Card

Last month, Standard Chartered had announced that it is rebranding its popular WorldMiles World Mastercard to the new Standard Chartered Journey credit card, with revised benefits. While this revamp is only set to take effect on 10 June, Standard Chartered’s webpage for the Journey card has now been published, offering us our first look at the new card face (as you can see above!), along with some extra information that were not made available previously – so let’s dive in!

The new card face design is a similar design language to recent cards launched by Standard Chartered including the SimplyCash and Smart credit cards. It’s a big change away from the old WorldMiles design, which was more unique and recognisable.

Moving on, in
our previous coverage
we touched on the revised points earning benefits of the card, which will include accelerated miles earning benefits not only for travel and overseas retail transactions, but dining as well, as broken down below:

1 Miles Points for every RM1 spent on dining, travel (airlines, hotels, and online travel agencies), and overseas retail transactions

1 Miles Points for every RM5 spent on other eligible local spend (excluding transactions such as government-related expenses, cash withdrawals, utilities, e-wallets, and special events categories)

Meanwhile, the
Journey product page
 now officially confirms that the air miles redemption rate will remain the same as that of the outgoing WorldMiles card. 1 air mile can be redeemed for 2 Miles Points – though it is still not confirmed from the website if the list of frequent flyer programmes will remain the same (currently for WorldMiles points conversion, cardholders may redeem air miles/points from AirAsia, Asia Miles, Enrich, and KrisFlyer).

Aside from that, the Journey card will retain another favourite feature of the WorldMiles World Mastercard as well: unlimited access to airport lounges in KLIA and KLIA2. This was a highly valued feature of the WorldMiles World Mastercard, making it – and now the Journey card – one of the very few cards in Malaysia to still allow unlimited lounge access (and the only one in its income range to offer this perk). For those who travel frequently for work, this is a strong perk to consider.

Cardholders will also be able to redeem complimentary airport transfers in the form of Grab rides from any airport in Malaysia, capped at RM65 (the standard Grab fare for a trip to/from KLIA Terminal 1/2 and the Klang Valley, excluding toll fares) which will credited into your Journey card account within 60 days after your ride. Note that this benefit can only be redeemed with a minimum spend of RM2,500 on travel expenses (Airlines, Hotels, & Online Travel Agencies), and must be made within 90 days before the Grab ride transaction.

These changes expand the airport transfer benefit to cover all airports in Malaysia as well as the scope of coverage to local travel as well – the WorldMiles airport transfer benefit was previously limited only to KLIA Terminal 1/2, and is only eligible when the cardholder makes three transactions in foreign currencies.

Other notable travel perks that are also provided under the Journey card include travel medical coverage of US$100,000 (inclusive of Covid-19 coverage), as well as exclusive hotel privileges at participating hotels or resorts in partnership with Mastercard. These include free nights, complimentary breakfasts, room upgrades, as well as early check-ins and late check-outs.

One final note is that the SC Journey card is a CarbonNeutral card – in line with
Standard Chartered’s global launch of its carbon neutral credit and debit cards
 since end of 2021.

As for eligibility and annual fees, the Journey card can be applied by those who earn a minimum annual income of RM90,000, with an annual fee of RM600 – unchanged from the WorldMiles World Mastercard. Similarly, you’ll also get a waiver on the annual fee without condition for the first year, and then for subsequent years with a minimum spend of RM60,000 per year.

Finally, a note to those who are interested in applying for the new Journey card immediately: although the page for the card is certainly live, we don’t believe it is ready to accept applications yet. At present, when you click on the “Apply Now” button on the page, it still leads you to the application form for the WorldMiles World Mastercard. As such, it may be a better idea to wait until the actual date of the launch (10 June) or more likely the following work day (12 June) to submit your applications, just to be sure.

(Source:
Standard Chartered
)

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Bank Online for Awesomeness Offers A Chance To Win A Proton X70 & Samsonite Luggages

In celebration of the Year of the Rabbit, Maybank is offering more HUAT to new and existing customers! From now until 28 February 2023, customers can stand a chance to win over RM388,888 worth of amazing prizes.

As most of us already know, Maybank offers a multitude of different products, ranging from saving and current accounts, to credit cards, investment products, and insurance products. On top of the vast range of products, these products are available online where customers can readily access and apply for them.

Let’s dive deeper into Maybank’s Bank Online for Awesomeness campaign.

Win a Proton X70, Samsonite Luggage Sets, 1 Year’s Worth of Petrol

New and existing customers can apply for different Maybank products online via the MAE app or Maybank2u app or website to earn entries and stand a chance to win the following prizes:

Grand Prize:
 1x Proton X70 1.5T GDI Premium 2WD

Second Prize:
30x Samsonite luggage sets: 55cm, 69cm and 76cm

Third Prize:
 15x 1 year’s worth of petrol: Petronas voucher worth RM500 per month (valued at RM6,000 per person)

Depending on whether you’re an existing or new customer, as well as the product you sign up for, you may earn up to 5x entries when you apply online and meet the criteria. So the more products you apply for, the more entries you can earn.

Sign Up For These Products To Earn
Entries

Credit Card & Credit Card Services

Maybank Credit Cards
:
Choose from a variety of Maybank Credit Cards that can complement your lifestyle.

Maybank Conventional Personal Loan
:

Financing up to RM100,000

End-to-end Online Application

Low interest rate as low as 6.5%* p.a.

Low monthly repayment from RM102.78*

No processing fee

Instant approval (For selected Maybank payroll customers)

Maybank Islamic Personal Financing-i
:

Financing up to RM100,000

No early settlement & processing fees

End-to-end Online Application & Fast Approval (within 48 hours)

Low profit rate as low as 6.5%* p.a.

Low monthly repayment from RM102.78*

Instant approval (For selected Maybank payroll customers)

Maybank EzyCash/-i
:
Earn higher interest rates compared to a normal savings account.

Low minimum placement of RM1,000

Reasonable low rate at 2.85%* p.a for 12 months

Maybank EzyPay Plus/-i
:
Make purchases with your Maybank Credit Card and convert them to an affordable monthly instalment plan with a lower rate and flexible tenure.

Convert any credit card purchases above RM500 into monthly installments

Flexible instalment tenure of up to 24 months

Interest/profit rate at 9%* p.a.

Maximum conversion amount RM30,000 or subject to available credit limit

Applicable via M2U Web & App, MAE App

Maybank Balance Transfer/-i
:
Credit card debt consolidation from other banks to Maybank credit card.

0% for >RM50k up to 12-month plan with 3% upfront fee

Applicable for Maybank credit card customers only

Quick & easy application without having to go to branch

Applicable via M2U Web & App, MAE App

Current & Savings Accounts

Maybank Islamic Zest-i Account
:
Investment account that rewards you all year long with prizes.

Prizes to be won all year with an investment amount of as low as RM200

Earn potential profit from your investment based on profit sharing ratio with the bank

Maybank2u.Premier Account
:
Current account with 5% bonus interest on interest.

Multi-tiered interest of up to 0.40%*

5%* bonus interest on interest with monthly average balance of RM5,000 and above

Checking facility

Maybank2u Savers/-i
Account
:
Savings account with up to 1%* interest/profit per annum.

Multi-tiered interest/profit with a minimum balance of RM2,000

Existing Maybank customers can earn up to 1%* per annum interest/profit

Perform online transactions and enjoy cashless transactions with Maybankard Debit

Investment Products

Maybank Unit Trusts
:
Enjoy access to diverse funds managed by professional fund managers.

Invest in unit trust with a lower sales charge of 1%*

Easy and convenient account opening without having to go to the branch

Find out your recommended portfolio based on your risk profile

Maybank Islamic Gold Account-i
:
A Shariah-compliant gold, physical gold-backed investment account.

Automatically buy or sell gold conveniently at your preferred price using the Future Order feature

Real-time market price

Redeem, resell or transfer physical gold

Delivery of physical gold upon request

Transfer gold to other gold accounts

Maybank eFixed Deposit/-i
:
Earn higher interest rates compared to a normal savings account.

Low rate at 2.85%* p.a for 12 months

Maybank Share Trading (Cash Account)
:
A Share Trading (Cash Account) allows you to trade in Malaysia’s stock market with funds from your account.

Complete account application via Maybank2u website

Get your application approved and start trading within 1 working day, subject to all requirements being met

Insurance Products

Maybank Motor Insurance
 /
Takaful
:
A comprehensive motor insurance plan.

Get 10% off when you apply/renew your Motor Insurance/Takaful plans

Third-party bodily injury or death

Third-party property loss or damage

Protection against loss/damage to your vehicle due to fire, theft or accident

24/7 emergency roadside assistance

Maybank Trip Care360
 /
Takaful Trip Care360
:
An insurance plan to provide protection during domestic and international travel, for business or leisure.

Includes death and permanent disability due to accident, medical expenses arising due to accident or illness, various travel inconveniences, losses or damages to baggage and/or personal effects, personal liability and emergency services.

*Terms and conditions apply.

***

If getting a better hold of your finances is part of your new year’s resolution, consider signing up for any of the Maybank products and services listed above. Who knows, you could also be one of the lucky winners to take home a Proton X70, Samsonite luggages, or 1-year’s worth of petrol!

To learn more about Maybank’s Bank Online for Awesomeness campaign,
click here
.

Disclaimer:

All Maybank products mentioned above are subject to terms & conditions.

Maybank and Maybank Islamic are members of PIDM. Protection by PIDM is subject to insurability criteria. Please refer to the list of insured deposits displayed at
http://www.maybank2u.com.my
 for further details.

The contents of this article do not constitute financial advice. Readers should conduct their own research before making a financial decision.

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Lisa Ameera Azman

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How To File Your Taxes For The First Time

They say that in life, you can’t run away from two things: death and taxes. In Malaysia, income tax is compulsory by law, and the income tax you pay is based on your total taxable income for the year. If you’ve just entered the workforce, and have absolutely no idea how all this works, here’s a handy guide on how to file your taxes for the first time.

Before we begin, you should first determine if you are eligible as a taxpayer. According to the Inland Revenue Board (LHDN), a Malaysian individual must register a tax file if they earn an annual employment income of RM34,000 (after EPF deduction).

If your annual employment income is above that figure, you will need to do two things: register yourself as a taxpayer with LHDN, and then register for e-Filing (LHDN’s online income tax filing platform). Here’s a quick infographic that summarises the steps you need to take when registering for income tax in Malaysia as a first-time taxpayer, after which we’ll take you through each step in detail:

1) Use e-Daftar to register as a taxpayer online with LHDN

To kickstart the process of registering as a taxpayer, head on over to the
MyTax website
, which now serves as the one-stop portal for all tax-related matters. From there, click on e-Daftar, which will then lead you to an online form. Fill in the required details, and the website will then notify you that you do not have an income tax number (of course, you’re not yet a registered taxpayer).

Click on the e-Daftar link in the text box, and then you’ll be led to the
actual online form
 that you need to register yourself as a taxpayer with LHDN. Note that this form can be quite extensive as it requires a fair bit of necessary information, including about your basic particulars, your spouse’s particulars (if applicable), legal representatives (such as your parents), and your current employer.

As you can see in the image below (provided by LHDN), there are as many as 10 sections for you to go through:

Note that you are allowed to save and continue filling in this form at a later time if you are unable to finish it in one sitting. The next time you come back to the e-Daftar page from the MyTax website, simply key in your details again, and the website will allow you to resume your registration (click on “Update Details” to do so, as you can see in the image below). Also be aware that you will be required to upload a digital copy of your MyKad as a supporting document, so it would be good to prepare that beforehand.

Upon submitting your form, your application may either be immediately approved (in which case, you’ll get your income tax number on the spot), or you’ll receive an acknowledgement receipt and your application number (and your income tax number will be emailed to you within three working days). You can also check via e-Daftar or give LHDN a call to check your application status.

Of course, if you prefer to visit the LHDN office in person to register as a taxpayer, that’s also possible. Simply head on over to the nearest LHDN office, and speak to a personnel to assist you. Also, make sure to bring along a copy of your IC and your latest salary slip or EA form for the process.

2. Register for your e-Filing account

Now that you’re registered as a taxpayer with your own tax file, it’s time to register for the e-Filing platform as well! The registration for e-Filing is necessary because this is where you’ll file your returns online as an official taxpayer, and to do so, you’ll need to get a
digital certificate
 and a
one-time PIN
.

a) Getting your digital certificate

To start the process, head back to MyTax and key in your IC number. You’ll then be informed that your “Digital Certificate does not exist”. Don’t panic, that’s normal! This is because even though you’re already registered as a taxpayer with LHDN, you’ve not actually set up your MyTax account yet, which gives you access to the e-Filing portal (and all the other tax-related services provided by LHDN).

So once you see the message, you’ll be prompted to apply for a digital certificate either via the e-CP55D online form (for MyTax web portal) or e-KYC (for MyTax app). Our guide here will focus on the e-CP55D application as taxpayers are more likely to use this method.

If you click on e-CP55D, you’ll be asked to confirm your registered email address and your personal details (IC number, full name, and email); amend them if necessary, then submit.

Once done, an activation link will be sent to your email, which you must then click to
activate your digital certificate
 (note that this link is only valid for two days, so try to do it as soon as you can!).

b) Getting your one-time PIN…and access to MyTax & e-Filing!

Upon clicking the activation link, you’ll be led back to the MyTax website. Go ahead and key in your IC number; this time you should be able to log in, with your
PIN number
 automatically displayed. Fill in the rest of the details required – which involves creating your
password and security phrase
 for MyTax – then click on “Submit”.

A quick note: as you create your password and security phrase, remember that it’s best practice to avoid using your name or IC numbers. You should also utilise a mix of alphanumeric characters, as well as upper and lower caps, to help increase the strength of your password.

Once submitted, you’ll go back to the MyTax website again, and this time, when you log in for the third time, you’ll be able to log in to your MyTax dashboard (third time’s the charm!). More importantly, you’ll now also gain access to the e-Filing service.

3. File your taxes

And with that, congratulations! You’ve successfully registered as a taxpayer, created an account for MyTax and e-Filing, and completed all first-time login procedures! Now it’s time to file your taxes, and (hopefully) get a tax refund. We’ll be helping you all the way with this
step-by-step guide
 for filing your income tax in Malaysia 2023 (YA 2022), so if you’re ever in doubt, feel free to check! Find more income tax related content in our
income tax page
 as well.

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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.

See all articles

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    Neo Qi Jian

    3 years ago

Very helpful. Thank you RinggitPlus

27

Reply

    Siew Siew Cheot

    2 years ago

Good job, Alex. you must done lots of the research. very useful & informative for me. thanks.

2

Reply

    Violet

    2 years ago

Thanks for the post. it has helped a lot as a to register as a tax payer for the first time. Keep up your good works.

5

Reply

    Steve

    2 years ago

If a person is working less then a year , and income says less then rm20,000 , does he need to submit the personal tax for the 1st year . Or need to register ?

0

Reply

    Pang Tun Yau

    2 years ago

    Reply to

        Steve

Since the person doesn’t qualify (yet) to be a taxpayer (due to annual income after EPF deduction below RM34,000), there is no action needed.

0

Reply

    hira

    2 years ago

Thank you for the information !

0

Reply

    Your ignorant anon

    2 years ago

Articles like these are a godsend with our horrible government website interfaces. Good stuff.

7

Reply

    Gaurav Patro

    1 year ago

Very detailed. Did not have to refer to anything else.

1

Reply

    Hari

    1 year ago

If a person has switched job from on to another with different incomes in the span of 12 months how does it work then?

0

Reply

    Pang Tun Yau

    1 year ago

    Reply to

        Hari

We got you covered for that too!

https://ringgitplus.com/en/blog/income-tax/how-to-file-your-income-tax-if-you-changed-jobs-in-the-previous-year.html

1

Reply

    John

    1 year ago

Hi, I’m an expat working here since September 2021. I was just wondering if I need to be physically present to file my first income tax @ LHDN? I was previously told that this is the case if it was my first time filing. I got my tax number, PIN, and registered thru MyTax already. Hoping to get your insight.

0

Reply

    Badin

    1 year ago

If i used to earn more than 34k p.a and paid my taxes when i was earning that amount then i was laid off and my income since then is less than 34k p.a do i need to declare my taxes after that?

0

Reply

    Annine

    1 year ago

If Malaysian stay at other country as Tax resident,  would still need submit it in Malaysia?

0

Reply

    Anonymous

    1 year ago

Not working :(((((

0

Reply

    Tanny

    1 year ago

If request PIN number through online, but didn’t get any email after 7 working days, what should I do?

0

Reply

    Anonymous

    11 months ago

If my salary is less than Rm2.5k, so I will not have to register income tax right? Because according to LHDN, Malaysian employees are required to pay taxes if annual income of at least RM34,000 (after EPF* deduction).

0

Reply

    Anonymous

    5 months ago

Thanks Alex, your income guidance is like a one-stop clinic, all doubts cleared.

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    Anonymous

    5 months ago

Thanks alot!!

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    Anonymous

    5 months ago

I been trying to register recently but mine doesn’t work as the image shown in this blog. After I search in edaftar page, it return to me this ‘Tax Identification Number (TIN) for Identification Card Number xxxx has been registered in the Inland Revenue Board Of Malaysia.’ and nothing else happens.

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    Nur

    5 months ago

    Reply to

        Anonymous

Hi, im facing the same issue. May I know whether you already figure out the solution? If yes, I would appreciate if you could share.

Thank you in advance.

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    Matthew Wong

    5 months ago

This article is really helpful. Thank you so much for such a comprehensive and thorough article Ringgit Malaysia.

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Singapore Dollar Hits All-Time High Against Ringgit, Rising Past RM3.20

(Image: The Associated Press/Ee Ming Toh)

The Singapore dollar (SGD) hit an all-time high against the Malaysian ringgit (MYR) yesterday (24 May), rising all the way up to RM3.2060 for the first time. This development is said to be led by Singapore’s more aggressive monetary policy, as well as the SGD’s increase in strength.

The SGD has been gaining against the MYR for the past few weeks, reaching RM3.1964 on Monday – which breached the previous all-time high mark – and then subsequently RM3.1993 yesterday evening. It eventually blew past RM3.20 when the exchange rate closed.

In discussing the SGD’s rise against the MYR, several experts attributed the situation to the different monetary policies adopted by the central banks of both countries. Specifically, the Monetary Authority of Singapore (MAS) is noted to have pursued a more aggressive monetary policy as compared to Bank Negara Malaysia (BNM).

For instance,
MAS increased the rate of appreciation of its exchange-rate based policy band last October
, before raising it even further in January and April. These decisions allowed the SGD to appreciate faster and at a higher level. Meanwhile, Malaysia had kept its interest rate generally stable, although there was a recent hike in its
benchmark lending rate by 25 basis points
.

(Image: AsiaOne)

“This policy divergence is benefiting the Singapore dollar,” said the currency strategist at the Bank of Singapore, Sim Moh Siong, who added that the SGD is expected to remain strong in the near term, though the MYR may catch up in the following six to twelve months. “By then, the rate hike by the Malaysia central bank will move into higher gear,” he also stated.

Similarly, both the head of FX Research at Maybank in Singapore, Saktiandi Supaat, and senior currency analyst at MUFG Bank, Jeff Ng, also agreed that MAS’ appreciation policy for the exchange rate has contributed to the strength of the Singapore dollar.

Meanwhile, the head of FX analysis at forex services firm MonFX, Simon Harvey added that recent news of the
United States considering tariff cuts on Chinese goods
 also played an indirect role in bolstering the strength of the SGD. President Joe Biden’s announcement had helped to lift the Chinese yuan (CNY), and with the CNY holding the largest share in Singapore’s S$NEER (Singapore dollar nominal effective exchange rate) basket, this caused the SGD to rally as well.

Consequently, Harvey said that the SGD also rose against other currencies aside from the MYR, including the US dollar (USD), Hong Kong dollar (HKD), and Japanese yen (JPY).

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

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What You Need To Know About Travel Insurance

What Is Travel Insurance?

Booked your flight ticket and wondering if it is absolutely necessary to buy travel insurance? In most cases, your travels will go as planned without a glitch. However, we all know that even a well-planned trip can be ruined by factors not in our control, like a cancelled flight, lost luggage, or getting seriously ill in a foreign place. It’s bad enough that your plans are ruined, you’ll also end up having to literally pay for these misfortunes!

Travel insurance is an insurance policy that offers financial compensation from travel-related mishaps. These include everything from lost, damaged, or delayed luggage, to significant ones like emergency medical treatment abroad.

Best Travel Insurance Malaysia Offers:

Allianz Travel Care Travel Insurance

SOMPO Travel Plus Basic Travel Insurance

SOMPO Travel Plus Elite Travel Insurance

Zurich TravelPAC Silver Plan Travel Insurance

AXA Affin Smart Traveller Plan Classic Travel Insurance

Pacific Insurance Travel Pro Insurance Silver Travel Insurance

AIG Student Assist Classic Travel Insurance

AIG Student Assist Premier Travel Insurance

How Does Travel Insurance Work?

Buying a travel insurance policy means you pay a premium to the insurance company to be covered against specific events for a fixed time period (i.e. your travel period).

Travel insurance usually functions on a claims and reimbursement basis. You need to file a claim to the insurance company, which will then reimburse you for the amount you are covered for. To file a claim, you will have to submit proof of whichever event you are claiming for (delayed flights, lost luggage, medical treatment receipts, etc). The insurance company will then get it verified and reimburse you according to what your purchased travel insurance policy covers.

Travel insurance is designed to cover unforeseeable events. However, the timing of your travel insurance purchase is crucial.

Let’s say you’ve made plans to travel to a destination and made the necessary reservations and payments including travel insurance. Suddenly, an announcement is made that a tropical storm will hit your destination during your travel dates, resulting in flight cancellations and rendering all reservations and bookings you’ve made for the trip burned. But, since you bought travel insurance before the announcement of the storm, you will be covered for all costs of the holiday. If you bought travel insurance after the storm was announced, you won’t be covered for any storm-related losses whatsoever.

How Much Does Travel Insurance Cost?

Many people would think that travel insurance is expensive, or something to only buy when travelling to a country far from your home. However, the price of travel insurance isn’t as pricey as most people think, and really depends on several factors such as the coverage amount, duration, and destination. You can also opt for individual or family travel insurance plans.

Malaysia has a wide range of travel insurance policies with varying levels of coverage to cater to different types of travellers. As such, the prices for the premiums also have a large range, from as low as
RM18.00 (Allianz Travel Care)
 for individual travel insurance and higher for family travel insurance, from
RM80.00 (Zurich TravelPAC Gold)
. There’s also an option for annual travel insurance policies which starts from
RM288.00 (SOMPO Travel Plus Elite)
 and above.

Why Should I Get Travel Insurance?

Having travel insurance is like having a safety net to make sure that you’re covered financially if something goes wrong while you’re traveling. With travel insurance, you will receive financial compensation to help you for things like buying a new flight ticket, or for medical care overseas, which is usually costly. All things considered, travel insurance offers substantial benefits that outweigh the premiums you pay.

Travel insurance such as
Lonpac Easy Travel Classic
 can reimburse you for your
cancelled flight, as well as the costs to purchase new flight tickets, and even hotel rooms until the next available flight!
 Additionally, travel insurance not only protects but can also assist you wherever you are in the world.
Etiqa TripCare 360
,
 for example, provides
Claims Assistance via its 24-Hour Travel and Medical Assistance Helpline.

It is important to note that the benefits covered by your travel insurance policy may vary by plan. So, be sure to choose a plan that fits your needs, budgets, travel plans and destinations. Do spend some time to read the fine print and coverage definitions (policy wording) until you understand what you are actually covered for.

How to Choose A Travel Insurance Plan?

The technical jargons found in insurance policies can be overwhelming and confusing, so here is a guide to help you understand some of the commonly used terms:

1.Duration of travel – Annual Plan or Single Trips

2.Destination – Domestic or Overseas

3.Number of Insured Persons – Individual or Family

4.Coverage & Exclusions – What is Covered and Not Covered?

#1. Duration of Travel – Single Trip vs. Annual Plan

What Is Single Trip Travel Insurance?

If you go on holiday once or twice in a year, single trip travel insurance policies would be the right option for you! Single trip travel insurance covers you per trip for the duration of your holiday. Insurance companies usually charge based on duration blocks, such as 1-5 days, 6-10 days and so forth up to a full 30 days. Some policies only last for 30 days at a time, while others can be
extended with subsequent one-week blocks.

What’s great is that single trip travel insurance is the most affordable way to get financially protected. Just be sure to check that it offers enough coverage for your trip and belongings instead of opting for the cheapest one possible!

Would I Save More Money with An Annual Travel Insurance Plan?

Yes – you can save money on travel insurance if you are a serial traveller or have a job that requires you to travel constantly. Some annual insurance policies offer special rates if you are only buying for coverage to the
same region
. So instead of buying single trip travel insurance each time you book a holiday, annual travel insurance plans will allow you to enjoy protection for unlimited trips throughout the year.

#2. Destination – Domestic vs. Overseas

Is Overseas Travel Insurance Policies More Expensive?

Yes – the cost of travel insurance is highly dependent on where you are traveling to.

While Domestic Travel Insurance covers travel between both Peninsular and East Malaysia, International Travel Insurance has its coverage divided by regions. For example, Region A could include a selection of Asian countries while Region B considers all other countries worldwide. Naturally, premiums for coverage in Region B would be more expensive due to the distance.

However, it is important to note that not all countries worldwide will be covered. Insurers minimize risk by excluding coverage for countries that are currently experiencing civil war or any other forms of social instability.

#3. Number of Insured Persons – Family vs. Individual

Are Family and Individual Packages Priced Differently?

Yes, the family package is usually significantly more expensive than the individual package – but is also significantly cheaper than buying individual policies for the whole family.

Unlike the Individual package where it offers coverage for only one person, the family package is designed to cover the insured person, his/her spouse, and/or their children. There is generally no limit as to how many children can be insured but there is a
maximum coverage amount under the Family Package (Etiqa TripCare 360).

Will My Parents and Immediate Family Members Be Covered too?

If you are planning a huge family trip, it is advisable for you to buy either a family package or multiple traveller package. Some travel insurance such as
Pacific Insurance Travel Pro Insurance Silver
 also offer coverage for
Senior Citizens aged 70 years old and above.

How About Students Who Travel to Study Abroad?

There are travel insurance plans designed specially for Malaysian students who study abroad. For example,
AIG Student Assist Superior
travel insurance offers comprehensive coverage for students who travel overseas to pursue their education. Other than basic coverage for personal accidents, medical and travel inconveniences, travel insurance for students offer pay-outs to cover the costs of education fees due to death or disability of an education sponsor.

A travel insurance plan designed for students provide at least an umbrella of coverage in case of an emergency and while waiting for their parents to help them out.

#4.Coverage & Exclusions

What Does Travel Insurance Cover?

1. Accidental Death or Total Permanent Disability

Accidents can and do happen while you’re on holiday and it is traumatic, especially when you are in a foreign country.

Example: John broke his leg while traveling and ended up paralyzed.

John has purchased travel insurance. Can he make a claim?

Yes. He should be eligible to receive a one-time lump sum payment for his disability as well as coverage for all his hospital fees. His travel insurance will also cover any hotel cancellations, additional flight bookings and other travel rearrangements.

John has returned to Malaysia. Will his travel insurance cover follow-up medical appointments?

Unfortunately, no. Due to the one-time lump sum payments he has received, his travel insurance might not cover the costs of these medical appointments in Malaysia. However, John will be able to make a medical insurance claim if he has purchased local medical insurance on top of his travel insurance.

What if John has both Travel Insurance and International Medical Insurance? Can he get paid twice for his disablement?

First and foremost, it is considered insurance fraud to receive insurance payment for the same item/event from more than one insurance policy. John will only be able to make claims from the first purchased insurance policy.

How Does Travel Medical Insurance Work?

Travel Medical Insurance is a sub-section of a travel insurance policy which covers only the medical expenses incurred in the event of any accidents or illnesses while traveling. It does not have coverage for lost luggage, flight cancellation or delays and other travel inconveniences which the other sections of a travel insurance policy would cover. Travel Medical Insurance is affordable but is rarely offered in Malaysia on its own.

Medical Expenses Arising from Accident or Illness

The probability of falling sick is higher when you are travelling due to differences in temperature, environment, food and water. If you get seriously sick or hurt in another country, your travel insurance will cover your medical bills. Furthermore, some travel companies also provide around the clock 24-hour telephone assistance. You could use this helpline to locate the nearest medical facility and more.

Do note that travel insurance policies usually function on reimbursement basis where it is a “pay first, claim after” policy. This means that you have to foot the medical bills first, then submit your claim to the insurance company once you return to Malaysia. However, some travel insurance offer cashless hospitalization, such as
Etiqa TripCare 360 Takaful
. Cashless hospitalization means that the insurer will provide guarantee letter with just one phone call to their hotline so that you can be admitted to hospital without having to fork out any payment from your own pocket. Every insurance policy is different, so do read your insurance policy terms carefully.

Emergency Medical Evacuation and Repatriation

In the event you get seriously sick or hurt overseas and you need to be taken via helicopter or other emergency transportation to the nearest hospital due to the lack of appropriate care and facilities – you’re looking at a very hefty medical bill. But if you purchase a travel insurance policy that has such coverage, the travel insurance will cover for this cost. However, it is important to read up on your insurance policy terms as in most cases, travel insurance such as
AXA Affin Smart Traveller Annual Gold
 require the insurer to be contacted in advance and the insurer also reserves the right to decide on the hospital to which you shall be transported to.

Unplanned Travel Inconveniences

We all know how a delayed or missing luggage can ruin your holiday! If your checked-in luggage is missing for more than a day, you will need to buy extra clothes, toiletries and many more. That’s a lot more unexpected expenses you’ll need to fork out, and you most probably already have set these sum of money aside for tours and food instead!

Travel insurance is designed to financially cover all travel-related inconveniences like delayed / lost luggage and more, such as loss of travel documents, cash, credit cards, and even loss of deposit due to hotel cancellation or overbooking. Other than that, you will also be covered if you missed your flight or you need excess coverage in relation to your
rental car (Allianz Travel Care)
.

Emergency Trip Cancellation (Pre-Departure)

If you develop a nasty viral infection a day or two prior to your trip, it would mean that you have to cancel your trip. Not every travel insurance policy will cover pre-departure trip cancellations. For policies that cover such as
AIG Travel Assist Superior
,
they may require you to visit a doctor before cancelling the trip. If you happen to fall sick on the day of departure itself, you are required to visit the doctor not more than 72 hours after the cancellation. Insurance companies will always want to see proof that the insured person had exhausted all options prior to making the decision in cancelling the trip.

What Doesn’t Travel Insurance Cover?

There is always a list of exclusions that travel insurance will not have coverage for. We have highlighted some of the instances where you will most likely not be covered for by travel insurance:

1.
Pre-Existing Medical Conditions

This is the most common exclusion you will find in most travel insurance policies. Simply, you will not be covered for any health problems you currently have. For example, if you have an existing heart problem and you go on a rock-climbing trip. In the unfortunate event that you experience a heart attack during the rock-climbing activity, any treatments you receive because of the heart attack will not be covered under the travel insurance.

2.
Suicide or Self-Injury

Travel Insurance policies have no coverage for attempted suicide or intentional self-injury. Insurers have the right to not pay-out for hospital or medical bills due to the exclusion for care in the case of suicide or self-injury. On a serious note, there are various suicide prevention programs such as
the Befrienders
 who are available and willing to hear you out and help you deal with the problems you have.

3.
Involvement of Alcohol and Drugs

There will not be any reimbursement if any illness or injury is caused by alcohol and/or drugs consumption. In cases of drug abuse, the insurer reserves the right to not cover if it is found that drugs are not taken in accordance with treatment prescribed by a registered medical practitioner.

4.
Sexually Transmitted Diseases (
STDs)

If you have contracted a sexually transmitted disease directly or indirectly during your travel, the travel insurance provider will not provide pay-out for any medical bills that follow.

5.
Pregnancy, Childbirth or Miscarriage

Most travel insurance provider will not cover for complications arising from pregnancy, childbirth or miscarriage. However, there are a few insurers such as
AXA Affin Smart Traveller Plan VIP
that would reimburse in some instances like miscarriage treatment due to injury as a direct result of an accident.

6.
Psychological Disorder

Mental and Emotional Disorders are not covered by most travel insurance. These disorders such as Bipolar Disorder is usually listed as one of the pre-existing medical conditions which makes it clear that there won’t be coverage.

7.
Acts of War

This could be easily confused as acts of terrorism and hijacking, which are actually widely covered by travel insurance policies. What this exclusion really means is that the insurance provider will not cover for any losses caused by civil, political, or military unrest.

How To Make A Travel Insurance Claim?

Do remember that travel insurance policies almost always function on a reimbursement basis. To get compensated for your loss or damages, you will have to submit proof of your losses, then the insurance company will get it verified and reimburse you according to what your purchased travel insurance policy covers.

That said, you must make sure that you contact your travel insurance’s 24-hour hotline service as soon as the incident takes place.

How Do I Find the Right Travel Insurance Policy?

Travel insurance policies vary by plans. A great place to start is to focus on specific items which are important for your travels (apart from the standard coverage a travel insurance policy would provide). For example, if you are going to be renting a car for long road trips, you may want to consider buying a travel insurance plan that covers car rental excess charges so that you do not have to buy this cover separately.

Next, you can decide on how much premium you want to be paying. With a diverse range of policies available, you have room to select one that has the best balance between cost and coverage. So the cost of insuring your trip is entirely up to you.

To find and compare the
best travel insurance plans available in Malaysia
, you can check out
our travel insurance page
, where we have an extensive list of travel insurance policies available which is sorted by premium price. On top of that, we provide you with all the details you need to know and option to apply for travel insurance right away too!

Can I Cancel My Policy?

Insurers usually allow cancellation of the travel insurance at any time by giving them written notice. Termination will become effective on the date the notice is received or on the date specified in the notice, whichever is later. There usually won’t be any refunds, nonetheless it is subjected to the terms and conditions of the travel insurance.

Travel Insurance Glossary

Accident
 – A sudden unforeseen and fortuitous event.

Certificate of Insurance
 – A certificate, which is issued after the applicable premium have been paid.

Premium
 – Payment which shall be deemed proof of the insurance coverage provided under this policy.

Child/Children
 – Unemployed and unmarried person under the age of 18 years old or up to 23 years old, if he/she is studying full-time in a recognized institution of higher learning.

Common Carrier
 – Any licensed registered public transportation services for people who travel as fare paying passengers in vehicles as listed below:

a) Airport limousine, bus, coach, taxi, ferry, hovercraft, hydrofoil, ship, train, tram or underground train; and

b) Any certified fixed-wing aircraft operated by a licensed airline or Chartered Flights and helicopters operating only between established and recognized commercial airports or licensed commercial heliports.
javascript:;

Epidemic
– Any contagious disease outbreak which is classified by the World Health Organization (WHO) or Malaysia’s Ministry of Health.

Family
 – This refers to You, Your legal spouse and any number of Your legal Children insured under the same Certificate of Insurance.

Hijack
 – Any unlawful violence and control of a public transportation from the regular crew.

Home Contents
 – All belongings, household fittings and fixtures you, your family and your domestic helper who is permanently residing with you own (not your landlord’s). This exclude deeds, bonds, bills of exchange, promissory notes, cheques, travellers’ cheques, securities for money, documents of any kind, cash, currency notes.

Illness
– This refers to the event when you get sick while traveling and shall exclude any Pre-Existing Medical Condition.

Immediate Family Member
 – This refers to Your spouse, Child, son-in-law, daughter-in-law, parent, parent-in-law, grandparent, grandparent-in-law, grandchild, brother, sister, brother-in-law, sister-in-law.

Injury
– This is when you got yourself injured because of an Accident, excluding any Illness or Medical Disorder.

Loss of Limb
 – Severe physical loss of a hand at or above the wrist or a foot at or above the ankle.

Loss of Sight
 – Total and irreversible loss of sight.

Medical Practitioner
 – A qualified, licensed and registered western medical practitioner who practice within the scope of his/her licensing and training in the geographical area of practice.

Mountain Sickness
 – This refers to an event also known as Acute Mountain Sickness (AMS), altitude Illness, hypobaropathy or soroche which is a pathological effect of high altitude on humans, caused by acute exposure to low partial pressure of oxygen at high altitude.

Natural Disaster
 – This refers to an event which is due to natural causes and that has catastrophic consequences.

Overseas
 – Destination outside of Malaysia.

Overseas Travel
 – Travel either for leisure or business purpose to any destination outside of Malaysia.

Period of Insurance
 – Period specified in the Certificate of Insurance.

Permanent Total Disablement
 – Injury which lasted continuously for 12 calendar months from the date of Accident, in which entirely prevents employment or any hope of recovery.

Pre-Existing Medical Condition
 – Existing condition where you have received medical treatment within 12 months prior to the effective date of your travel insurance policy.

Serious Injury
or
Serious Illness
 – This refers to when you require medical treatment in the hospital and certified by a Medical Practitioner as unfit to travel or continue with your planned trip.

Trip
 – The journey once you leave your house or office (whichever is later) to the airport in Malaysia for your flight to your intended destination. Remember to start your journey not more than 24 hours prior to booked departure time and that the trip ends on whichever of the following that occurs first

a)The expiry of the Period of Insurance specified in the Certificate of Insurance;

b)Return to your home or office (whichever is earlier) in Malaysia; or

c)24 hours after arrival in Malaysia

Travel Agent
– Licensed and registered travel agent in Malaysia with the relevant authorities.

We/Our/Us/Insurer
 – this refers to the travel insurance company.

You/Your/Insured Person
 – this refers to the Insured Person(s) shown in the Certificate of Insurance.

Hopefully, this article helped you learn more about travel insurance and in finding the best travel insurance in Malaysia.

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    Asyraf

    8 months ago

Premium for travel insurance usually pay for how long? One year, few months or one time?

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    Pang Tun Yau

    8 months ago

    Reply to

        Asyraf

You can get a travel insurance on a per-trip basis or an annual basis. If you get a per-trip plan, you pay upfront for that trip alone (there’s usually a cut-off time to get the plan before your actual trip date), and if it’s annual it’s paid once a year.

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How is an Islamic Savings Account Different From a Conventional One?

Islamic savings accounts are based on Syariah Law practices. Islam prohibits earning money on interest which is employed under conventional savings accounts.

When you deposit your money in a conventional savings account, it is customary to expect a small interest based on the amount deposited. On the other hand, Islamic savings accounts work on profit sharing rather than interest.

Earning of Interest vs Profit Sharing

The reason Islamic savings accounts don’t use interest rates and apply profit sharing instead is because of how Syariah law prohibits usury in the form of interest rates. This is why profit rates are used instead. In fact, Syariah law prohibits quite a few things that conventional banking have no qualms applying in their system. They have terms for these which are:

Riba’
: Interest-based transactions like any borrowing or lending where interest is incurred. Syariah law claims that any form of interest is unlawful gains.

Gharar and Maysir
: Transactions that involve the element of uncertainty, chance, randomness, or speculation. Syariah law insists on full transparency in financial transactions to avoid fraudulent behaviour.

Non-Halal Investing
: Syariah law is against banks contributing their business to activities that run counter to Islamic values like non-halal meats, gambling, pornography, alcohol and prostitution.

Under the conventional wing, the bank can take your deposits and lend it to others in the form of a personal loan or housing loan. With the interest earned on loans given out by the banks, it can then pay you a small
interest
 for using your available funds deposited.

However, since that’s considered riba’, an Islamic savings account can’t function this way. So instead, an Islamic savings account works by forming a business relationship: You provide the money, and the bank does business with it. As part of this relationship, a
profit sharing ratio
 is stipulated (e.g. 95% of profits go to the bank, and 5% of the profits go to you).

Permitted Transactions

Another difference is that a conventional savings account will allow you to transact your debit card in any shop or business that accepts credit cards.

However, all transactions under the Islamic bank accounts are required to be halal in nature.

Therefore, an Islamic debit card will not be accepted in establishments that serve alcohol and serve pork as they are deemed non-halal. Technically, even if you were purchasing meat like chicken or beef that is not halal certified should not be transacted with an Islamic debit card or online bank account.

Unique Savings Accounts

We’ve covered the potential benefits of
Islamic banking products
 (even for non-Muslims) before, but if you are looking out for something a little different,
CIMB EcoSave Savings Accounts-i
 is an Islamic savings account which emphasises on the environment. It promotes the key feature of doing everything online, including eStatements via e-mail to reduce paper wastage.

Besides saving the environment, you could also opt for an
Affin Barakah Charity AC-i
 account that makes it convenient to make donations to charity a breeze. There is no point in having all that money if you aren’t going to do some good with it.

On the other end of the spectrum, the conventional bank accounts like the
Mach by Hong Leong Dream Jar
 is pretty cool too. Instead of having actual jars to divide your savings, you can open five virtual jars to start a standing instruction. If you hit your goal without any withdrawals, you will receive a top-up cash reward for being a good boy or girl.

If none of these bank accounts tickle your fancy, head on over to our savings account page and run through our extensive list using the
comparison tool
. Take your pick of Islamic or conventional savings accounts that is tailor made to your needs. Have anything else to add to this article? Do share your thoughts and ideas with us in the comments section down below!

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    Arham Kaleem

    5 months ago

Very informative article. Glad seeing the spread of Islamic banking practices worldwide.

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Proton Car Prices Are Expected To Increase Due To SST

(Image: Malay Mail)

Customers who want to purchase Proton vehicles may have to pay more for their cars
once the Sales and Service Tax (SST) is implemented on 1 September
. Proton Edar Sdn Bhd expects the prices of Proton vehicles to increase by between RM1,500 to RM3,000.

According to Proton Edar Sdn Bhd CEO Abdul Rashid Musa, the company anticipated the price hike even though the government has not announced the new tax mechanism yet.

“The calculation of the price increase (RM1,500-RM3,000) was made based on the GST introduced by the previous Government to replace the SST where the prices of Proton cars then were reduced by between RM1,500 and RM3,000.

“As such, when the SST is re-introduced, we expect there will be a similar increase in the quantum price,” he said.

Abdul Rashid Musa advised customers to purchase their cars before the implementation of SST if they want to enjoy the lower prices. However, he hopes that customers would not be picky about the variant and colours of the vehicles on offer, even though the company still has enough stocks to meet the demand.

(Source:
The Edge
)

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5 Indicators Your Financial Health Is In Good Shape

We all know what physical health is but have you thought about your financial health? In simple terms, it’s the state and stability of an individual’s personal finances and financial affairs.

You’re probably thinking, “I’m earning a steady income, paying my debts, and setting aside some savings in my bank account.” But, to avoid unexpected surprises in the future, it pays to be sure that you’re in the pink of health, financially.

So, rather than second-guessing, why not get a financial check-up? Just like how important it is to go for a medical check-up every year, the same can be done to ensure our finances are healthy. The lack of financial knowledge and planning can be a contributing factor to an uncertain future so it’s important that we start as early as possible.

Strong financial health is, needless to say, vital in supporting many of our important life goals including a worry-free retirement. Here are 5 indicators that suggest your financial health is in good shape!

1.
You Have Enough Savings To Feel Financially Secure

From a young age, we have been exposed to the concept of savings be it through stories, piggy banks, or rules set by our parents. (
You want that gadget? You can save your allowance for it
). Even as adults, the importance of saving can’t be stressed enough.

Having sufficient savings includes having an emergency fund that gives you a financial safety net and provides you with more options for decisions that can greatly impact your quality of life. Setting aside an emergency fund can really come in handy; it allows you to tide through unexpected circumstances like a sudden loss of income or unemployment, medical emergencies, vehicle breakdowns, and more.

There are many calculator tools available online these days that compute how much you should save each month to reach your savings goal. But, as a general rule of thumb, you are recommended to save approximately three to six months’ worth of salary for your emergency fund.

2.
You’ve Passed Your Credit Score Check With Flying Colours

We don’t really hear about our credit scores until we make a large purchase like a house and apply for a loan from a financial institution. A
credit score
 is a 3-digit number that is an analysis of a person’s creditworthiness.

It is computed based on a few factors: number of open accounts, total levels of debt, repayment history, and more. Your credit score serves as a reference for financial institutions when they’re evaluating the probability of you repaying your loans in a timely manner. Whether you can get a loan or not depends on your credit score — the higher your credit score, the higher your chances of loan approval.

You can check your credit score with any established institutions that provide credit checking services. They’ll not only give you your score but also provide comprehensive reports on your commitments and financial behaviour.

3.
You’re Well Protected In Case Of Uncertainties

Similar to how an emergency fund works, life, critical illness, and medical insurance will give you added peace of mind and lessen the financial impact should the unexpected happen. While the emergency fund is utilised for various purposes, insurance is designed to protect your finances against unexpected events so that you (and your dependents) can maintain your current lifestyle and work towards achieving your life goals.

The rising medical costs can easily wipe out your savings especially if you don’t have medical insurance. The average gross medical inflation for Malaysia was 15.3% in 2018, 16.1% in 2019 and
14% in 2020.
 When it comes to increasing medical costs, Malaysia ranks among the
region’s highest
 at 13.1% in 2019.

Life and critical illness insurance, on the other hand, provides your beneficiaries or you with a lump sum payout if you, as the insured person, are diagnosed with a serious medical illness, suffer from total and permanent disability (TPD) or pass away.

4.
You’re In Debt — Good Debt, That Is

You may be asking, “Is there such a thing called good debt?” Well, yes! The word debt has such a negative connotation to it most of us run away from it as soon as we hear it. But, if you think about it, most of us have debts to pay anyway. Some debts can even help you increase your net worth or quality of life in a meaningful way – which makes this kind of debt good.

For example, debts incurred for things like getting an education, setting up a business, and buying a residential property are justifiable as long as you’re able to manage the repayments.

Take buying a property, for example. You can flip the property for gains or rent it out to generate passive income to increase your net worth. Additionally, good debts also help pull up your credit score and open opportunities for higher credit lines as it indicates to banks and lenders that you are a responsible paymaster.

5.
You’re Actively Planning For The Golden Years

Oftentimes, it’s easy to put off planning for retirement until the last minute as there are other immediate needs that we usually dedicate our savings to — and many of us would count on our EPF savings to be there for us when we retire.
Two out of three
 EPF members aged 54 have less than RM50,000 in retirement savings, while 50% of members above the age of 55 exhaust their savings in five years.

Yet, our life expectancy at birth has increased to
74.9 years in 2020
. As we’re on our way to become an aged nation, we need to be active in planning for our retirement so we will have enough funds to live out our golden years without financial worries.

If you’ve already started stashing away savings in more than just your EPF accounts or have charted out your retirement game plan, then you’re a step closer towards achieving good financial health.

Would You Like To Find Out Where You Stand Financially?

You Can Complete The Financial Health Check By AIA

With AIA’s Financial Health Check, you can assess your current financial and protection coverage needs. You will also be able to benchmark your current protection levels against other AIA customers. Not only that, AIA’s Financial Health Check covers important financial planning aspects from your savings and debts, to things that you may have overlooked like taxes, insurance, and estate planning. What’s more, stand a chance to win a brand new iPhone 12 and other exciting prizes worth more than RM35,000 when you complete your
Financial Health Check
 before 31 August 2021.

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Chee Jo-Ey

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Maybank’s Treats Fair Returns As Physical Event at Mid Valley, 27 To 30 October 2022

Maybank’s popular Treats Fair is back, this time as a physical event once more after several rounds of hosting it virtually in 2020 and 2021 due to Covid-19 restrictions. Set to take place between 27 to 30 October 2022, it will be held at the Mid Valley Exhibition Centre.

As always, the Maybank Treats Fair event will treat Maybank debit, credit, and charge cardholders to a range of perks, including special redemption rates when they redeem items using accumulated Treats Points or Membership Rewards points. Specifically, you’ll be able to enjoy a reduced points conversion rate of 400 points = RM1, as compared to the usual rate of 500 points = RM1 – which translates to a 20% discount in the redemption rate.

Additionally, purchases made during the event with Maybank’s 0% EzyPay instalment plans will earn you 5x points. This, too, is a pretty good deal as you usually earn only 1x point via such transactions.

Other highlights that you can also look out for include early bird promotions and Hot Deals with items being sold at prices as low as RM5. There are also guaranteed gifts that you can redeem when you spend a specified minimum amount at the event, as well as opportunities to take part in the “Spin the Wheel” game and win a portion of the 1 million Treats Points that is being given away each day.

Spending at the Treats Fair will also allow you to earn entries to participate in a Supermarket Sweep, where you will have the chance to “sweep” up RM4,000 worth of items at Jaya Grocer in The Gardens. Additionally, fans of the Manchester United football club can look forward to “once-in-a-lifetime experiences” with legends such as Wes Brown and Denis Irwin, and the chance to win autographed memorabilia – among other things.

If you’re keen to join in on the excitement of Maybank’s upcoming Treats Fair physical event – happening for the first time in almost three years – don’t forget to mark down the dates and head on over to the Mid Valley Exhibition Centre then!

(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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Astro Business Offers More Value With An Entertainment Package For F&B Businesses To Get Things Going Post-MCO

When the pandemic first took hold of Malaysia in March 2020, everything was put to a halt and many businesses were affected, especially the F&B industry. Almost a year later, today, even though restrictions have eased up a little and we’re allowed to get back into our routine like dining out, things are not the same as they were pre Covid-19.

Some Malaysians may still be uncertain about stepping out, while others are delighted to catch up with their friends and family at cafes and local eateries. To entice more customers, many dining establishments have been handing out discounts and vouchers but that may not be feasible in the long run. So aside from dishing out discounts post-MCO to attract customers, what are other ways to add value to your customers’ experience?

One way you can be ready to welcome customers back into your outlet is by creating a good atmosphere with crowd-drawing entertainment such as the Live Sports Euro, the upcoming Tokyo Olympics, and the biggest box office hits. From live football matches to Bollywood and Hollywood blockbusters, these are programmes that will bring everyone together with laughter and enjoyment when dining out with family and friends.

To support businesses that are trying to attract more footfall post-MCO, Astro is offering a special price for its Flexi Plan for commercial uses for a limited time only. Here’s what you’ll get when you subscribe to the New Flexi Plan for your F&B establishment.

Switch Up The Mood With One Click

Be it mellow tunes in the background or an exciting match on the screen, there’s no easier and more flexible way to change your establishment’s ambience than by using media entertainment. The combination of visual and sound is just perfect for getting everyone at your cafe or restaurant to be in a fun and positive mood.

After a day’s work or attending college classes, Malaysians are famous for chilling and hanging out with friends with a “
yum cha”
 session at their favourite mamak stall or dining spot — but they’re not there just for the company or food. They go to experience the rush of excitement listening to the cheering and jeering of fans by watching live sports events or the latest movie or drama that brings crowds together. Alternatively, if you’re going for a quiet ambience, you can always change the mood by featuring programmes like international news or documentaries to cater to different crowds.

It’s this ease of flexibility to switch between channels (and the ambience) that makes Astro Business’ New Flexi Plan a favourite choice among F&B establishments.
All the programmes in the New Flexi Plan are 100% legal programmes
 and feature different genres from exclusive live sports events to favourite local programmes and international news in HD.

If you’re already an Astro Business subscriber, you can
upgrade to the
New Flexi Plan and enjoy extra perks such as free up to RM1,500 worth of GO SHOP vouchers. By signing up for this plan, Astro Business will be offering you the flexibility to choose a plan and customize your selection of channels from a wide menu consisting of local and international entertainment programmes to suit your business needs.

With the New Flexi Plan, you can choose the pack that best suits your business:

Astro Business’ New Flexi 2.0 Plan

Choose from:

Standard Sports Pack – 24 channels

(Most Popular)

Includes:

10 Starter Channels

4 Sports Channels

9 Classic Channels

1 Prime Channel

FREE RM400 GO SHOP Voucher

Promotion price:

Only RM359/month

Premium Pack – 32 channels

Includes:

10 Starter Channels

7 Sports Channels

12 Classic Channels

3 Prime Channels

FREE RM700 GO SHOP Voucher & FREE 1x multiroom

Promotion price:

Only RM599/month

Elite Pack – 45 channels

Includes:

10 Starter Channels

13 Sports Channels

17 Classic Channels

5 Prime Channels

FREE RM1,500 GO SHOP Voucher & FREE 2x multiroom

Promotion price:

Only RM1,159/month

Sign-up Bonuses You Can’t Say No To!

While the Astro Business’ New Flexi Plan keeps your customer entertained, it also gives you, the business owner, sign-up bonuses such as
GO SHOP

vouchers and 15% advertising discounts
. With the vouchers, you can redeem TVs, office gadgets and/or any items listed on Astro GO SHOP.

More Variety, More Value with Multiroom

With Multiroom, you can show different content on different TV screens to cater to different groups of customers. For example, you can have one TV screen showing a soccer game and another TV showing a golf game or a Formula 1 race. With each of the new Flexi Pack, you can get up to four Multiroom boxes at an affordable price of RM100 a month per box. Enjoy FREE Multiroom when you sign up for the Premium or Elite Flexi Pack!

***

Now that restrictions are easing up, things are slowly returning to normalcy and people can get back to their routine. It’s these little things in life that count now and allow us to feel like things are back to how they were pre Covid-19. This might also be a good time to give your customers a nudge and remind them of the good times they’ve had or can have hanging out at your place. Add value to their experience by subscribing to Astro Business’ New Flexi Plan and
enjoy a 15% discount special advertising rate for SMEs
 with Astro Media Sales & Solution.

Learn more about Astro Business’ New Flexi Plan here.

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ringgitplus

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    Jatinder

    2 years ago

Can I change my business plan to 359 monthly ?

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HP Malaysia Launches Latest Portfolio Of Products Designed For Hybrid Living

HP Malaysia has launched its portfolio of 2023 devices including professional and gaming laptops as well as printers, designed to empower individuals and businesses alike in the ever-evolving hybrid landscape.

With a strong emphasis on innovation, the company’s new promise to enhance productivity, elevate gaming experiences, and promote sustainability.

Embracing the Hybrid Work Environment

To cater to the needs of Malaysia’s hybrid workforce, HP has launched three new “hybrid-ready” laptops: the HP ZBook Firefly G10, HP ZBook Power G10, and the HP ProBook 400 Series G10. The HP ZBook Firefly G10 offers the latest Intel Core processors and up to 13 hours of battery life encased in a 1kg metal chassis.

Meanwhile the HP ZBook Power G10, as its name implies, is designed for those who need a balance between workstation-level performance but the portability of a laptop. Featuring the latest NVIDIA RTX laptop graphics, Wi-Fi6, and an auto-framing 5MP camera, it promises to be a powerhouse machine.

Lastly, the HP ProBook 400 Series G10 is a customizable notebook designed for hybrid work and collaboration. Boasting a 5MP IR camera, HP Context Aware software, and enterprise-ready security, this laptop aims to meet the diverse needs of hybrid work arrangements.

Next-generation Omen & Victus gaming laptops

HP also introduced new gaming products designed for both casual and enthusiasts, comprising of the HP OMEN Transcend 16, HP OMEN 16, and Victus 16 gaming laptops.

The HP OMEN Transend 16 stands out as the slimmest and lightest gaming laptop from HP, featuring AI-powered technologies and OMEN Tempest Cooling for peak efficiency during gaming sessions. With a taller 16:10 display and an ultra-fast 240Hz mini-LED panel, powered by either a 13th Gen Inteo Core i7 or AMD Ryzen 9 processor, the HP Omen Transcend 16 is also suited to content creators to edit on the move.

The mid-range HP OMEN 16 boasts the option of Intel Core i9 or AMD Ryzen 9 processors paired with NVIDIA GeForce RTX 4070 graphics, while also retaining the flagship OMEN Tempest Cooling technology. Lastly, despite its entry-level status, the Victus 16 also features OMEN Tempest Cooling technology and up to RTX 4070 GPU.

Innovative Printing Solutions

HP’s commitment to empowering home- and office-based hybrid workers extends to intelligent printing solutions. The HP Smart Tank 520/580 offers cost efficiency and productivity for micro, small, and medium businesses, along with Wi-Fi connectivity and mobility through the Smart App.

On the office front, the HP LaserJet Managed MFP E800/700 series features the next-generation Flow technology, providing convenience and data integrity with tamper-resistant chips and firmware. The HP Color LaserJet Enterprise 5000, 6000, X600, and X500 series deliver advanced capabilities for enhanced productivity and document management, all while supporting today’s business demands.

Pricing and Availability

The newest lineup of HP products announced are available at authorized reseller partners online stores such as Lazada and Shopee, or at HP’s official website at the following recommended retail prices:

HP ZBook Firefly G10: from RM5,734
HP ZBook Power G10: from RM8,078
HP ProBook 400: from RM3,849
HP OMEN Transcend 16: RM10,999
HP OMEN 16: from RM6,899
Victus by HP 16: from RM4,419
HP Smart Tank 520/580: from RM419

For more information on the latest HP products, check out its official website.

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Pang Tun Yau

Pang Tun Yau

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

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How Much Does Water Cost in Malaysia?

Have you heard about the
potential hike in water tariffs
? For our readers in Selangor and Kuala Lumpur, you can expect to pay a little more for your water soon due to some corporate restructuring.

However, unlike other price increases this isn’t one we can just avoid or try to find alternatives to. Everybody needs water and it costs money to deliver, install, and maintain the infrastructure necessary to get it to people. So if we’re made to pay more for our water soon, how have our neighbours in the rest of the country doing? Are they paying less or more? Let’s find out.

We’ll start with Ringgitplus’ main headquarters in Kuala Lumpur. Serviced by SYABAS who also supplies water to our neighbours in Selangor, our rates are as follows.

Selangor and Federal Territories of KL and Putrajaya

Supplier:
Syarikat Bekalan Air Selangor (SYABAS)

Minimum Payment = RM6.00

0 – 20m
3
 = RM0.57 /m
3

21 – 35m
3
 = RM1.03 /m
3

Over 35m
3
 = RM2.00 /m
3

Average monthly water bill (22.5m
3
) = RM13.98
(the average monthly figure as reported by SPAN)

Now let’s take a look at the Federated States and how they’re faring as far as water service costs go. While the other states have no plans to raise the water tariffs, Negeri Sembilan raised them on the 21st of May last year for commercial and industrial sectors by 70%. This doesn’t affect domestic use, of course.

Perak

Supplier:
Lembaga Air Perak (LAP)

Minimum Payment = RM3.00

0 – 10m
3
 = RM0.30 /m
3

11 – 20m
3
 = RM0.70 /m
3

Over 20m
3
 = RM1.03 /m
3

Average monthly water bill (22.5m
3
) = RM12.6

Pahang

Supplier: Pengurusan Air Pahang Berhad (PAIP)

Minimum Payment = RM3.00

0 – 18m
3
 = RM0.37 /m
3

19 – 45m
3
 = RM0.79 /m
3

Over 45m
3
 = RM0.99 /m
3

Average monthly water bill (22.5m
3
) = RM10.22
(corrected by SPAN from RM10.20)

Negeri Sembilan

Supplier:
Syarikat Air Negeri Sembilan (SAINS)

Minimum Payment = RM5.00

0 – 20m
3
 = RM0.55 /m
3

21 – 35m
3
 = RM0.85 /m
3

Over 35m
3
 = RM1.40 /m
3

Average monthly water bill (22.5m
3
) = RM13

What about the Unfederated States of peninsula Malaysia? Perlis’s water has recently been taken over by Syarikat Air Perlis from JKR Perlis on the 1st January of 2015. This hasn’t jacked up their tariffs. However, Johor recently increased their water price back in August of 2015.

Johor

Supplier: Syarikat Air Johor (SAJ)

Minimum Payment = RM7.00

0 – 20m
3
 = RM0.80 /m
3

21 – 35m
3
 = RM2.00 /m
3

Over 35m
3
 = RM3.00 /m
3

Average monthly water bill (22.5m
3
) plus minimum payment = RM21

Kelantan

Supplier:
Air Kelantan Sdn Bhd

Minimum Payment = RM4.50

0 – 20m
3
 = RM0.45 /m
3

21 – 35m
3
 = RM0.97 /m
3

Over 35m
3
 = RM1.42 /m
3

Average monthly water bill (22.5m
3
) = RM11.4

Terengganu

Supplier:
Syarikat Air Terengganu Sdn Bhd (SATUWater)

Minimum Payment = RM4.00

0 – 20m
3
 = RM0.42 /m
3

20.1 – 40m
3
 = RM0.65 /m
3

40.1 – 60m
3
 = RM0.90 /m
3

Over 60m
3
 = RM1.00 /m
3

Average monthly water bill (22.5m
3
) = RM10

Kedah

Supplier: Syarikat Air Darul Aman (SADA)

Minimum Payment = RM6.00

0 – 20m
3
 = RM0.40 /m
3

21 – 35m
3
 = RM0.70 /m
3

Over 35m
3
 = RM1.10 /m
3

Average monthly water bill (22.5m
3
) = RM12.25
(figure and tariff rate corrected by SPAN)

Perlis

Supplier:
Syarikat Air Perlis (SAP)

Minimum Payment = RM3.00

0 – 15m
3
 = RM0.40 /m
3

16 – 25m
3
 = RM0.70 /m
3

Over 25m
3
 = RM1.10 /m
3

Average monthly water bill (22.5m
3
) = RM11.3

Now let’s take a look at the former Straits Settlement states (excluding Singapore, of course). Penang recently hiked their tariffs too in April of last year (2015). So did Malacca since January 2016 but not for domestic use.

Penang

Supplier:
Perbadanan Bekalan Air Pulau Pinang Sdn Bhd (PBAPP)

Minimum Payment = RM2.50

0 – 20m
3
 = RM0.22 /m
3

21 – 40m
3
 = RM0.46 /m
3

41 – 60m
3
 = RM0.68 /m
3

61 – 200m
3
 = RM1.17 /m
3

Over 200m
3
 = RM1.30 /m
3

Average monthly water bill (22.5m
3
) = RM5.55
(figure corrected by SPAN from RM5.00)

Malacca

Supplier:
Syarikat Air Melaka Berhad (SAMB)

Minimum Payment = RM6.00

0 – 20m
3
 = RM0.60 /m
3

21 – 35m
3
 = RM0.95 /m
3

Over 35m
3
 = RM1.45 /m
3

Average monthly water bill (22.5m
3
) = RM14.4

Our stately neighours to the East function a little bit differently. Since they occupy a lot more real estate, Sarawak has three corporate entities managing their water supply. All of them conveniently have the same rate, though. Sabah has just one supplier.

Sarawak

Suppliers: Kuching,
Kuching City Water Board (KWB)
; Sibu,
Sibu Water Board
 (SWB); Miri, Bintulu, and Limbang,
LAKU Management
. These rates only apply to Kuching, Sibu, Sri Aman, Miri, Limbang, Sarikei and Kapit.

Minimum Payment = RM4.40

0 – 15m
3
 = RM0.48 /m
3

16 – 50m
3
 = RM0.72 /m
3

Over 50m
3
 = RM0.76 /m
3

Average monthly water bill (22.5m
3
) = RM12.6

Sabah

Supplier:
Sabah State Water Department

Minimum Payment = RM3.00

0 – 10m
3
 = RM0.30 /m
3

11 – 20m
3
 = RM0.60 /m
3

21 – 35m
3
 = RM1.10 /m
3

36 – 60m
3
 = RM1.30 /m
3

Over 60m
3
 = RM1.80 /m
3

Average monthly water bill (22.5m
3
) = RM11.8

Here’s a handy table for you to see the rough average monthly cost of water across all the states and territories of Malaysia:

State

Average Monthly Bill (in RM)

Kuala Lumpur

15.4

Selangor

15.4

Perak

12.6

Pahang

10.2

Negeri Sembilan

13

Johor

21

Kelantan

11.4

Terengganu

10

Kedah

18

Perlis

11.3

Penang

5

Malacca

14.4

Sarawak

12.6

Sabah

11.8

As it turns out, there’s quite a bit of difference between how much each state chooses to charge their citizens as far as water is concerned. One thing to remember though is that plenty of these places have had recent tariff hikes as well, and for a number of the states, the hikes do not affect regular domestic users.

Hopefully with this information, we can all see the latest news on tariff fluctuations with a wider perspective, at least, as far as water is concerned. If you’re looking for ways to save up so you can afford the higher water prices coming soon, check out our
5 ways to catch up on savings article
.

Do you have any other concerns about price hikes, utility pricing, or anything else you feel we need to know? Share them with us in the comments section down below!

*[UPDATE: 3/3/2016] – Figures and rates have been changed at SPAN (Suruhanjaya Perkhidmatan Air Negera)’s request*

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Sibu Water Board (SWB)

SPAN (Suruhanjaya Perkhidmatan Air Negera)

Syarikat Air Darul Aman (SADA)

Syarikat Air Johor (SAJ)

Syarikat Air Melaka Berhad (SAMB)

Syarikat Air Negeri Sembilan (SAINS)

Syarikat Air Perlis (SAP)

Syarikat Air Terengganu Sdn Bhd (SATUWater)

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Water Tariff

About THE AUTHOR

Ahmad Mudhakkir

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RHB Giving Away iPads To Travellers

RHB is giving away a free iPhone5 and iPad tablets to RHB debit cardholders who use their cards overseas. The promotion is open to
RHB Bank and RHB Islamic Bank debit cardholders
 who charge a minimum of RM100 on a single transaction at any overseas retailer. This excludes online transactions unfortunately.

Prizes available are as follows:

Category

Prize

Number of Winners

1st Prize

1 x iPhone5 (16GB) Black

1 Winner

2nd Prize

1 x iPad with Retina Display Wifi

(16GB) Black

1 Winner

3rd Prize

1 x iPad Mini Wifi (16GB) Black

1 Winner

Consolation Prize

100 x RM100 Cash Reward

100 Winners

Cardholders interested in joining this promotion are advised to call RHB Customer Care (03-92068118) to flag their card(s) before travelling overseas. Entries are automated and no pre-registration is required.  Winners will be selected from a random number processor and shortlisted winners for the top three prizes will be required to answer a question specific to this promotion.

As always we encourage you to read through their
Terms & Conditions
 before planning your next getaway.

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Brendon Lee

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Save Big On Lenovo ThinkPad, Yoga, And Legion On Lenovo 3.3 Mega Deals

If you’ve been looking to get a new laptop or thinking of upgrading your current one, Lenovo’s 3.3 Mega Deals will not have come at a better time. Offering up to 33% discounts across its entire range of laptops, you’ll be saving quite a bit when you purchase a ThinkPad, Yoga, or the Legion gaming series.

Lenovo 3.3 ThinkPad Promotions

The ThinkPad series created the “business laptop” range that other PC manufacturers try to catch up with Lenovo today. With decades of experience coupled with Lenovo’s drive to provide the latest innovations in material science means today’s ThinkPads are no longer the chunky heavy beasts many remember them to be, but sleek machines built to last.

All ThinkPad laptops are exceptionally long-lasting, meeting or exceeding multiple US military standards for durability, ruggedness, and reliability. This applies across the range from the lowest-end ThinkPad to the world’s lightest 14” business laptop, the
1.09kg ThinkPad X1 Carbon 7
th
 gen
.

As exclusive offers for the 3.3 Mega Deals, Lenovo is offering 33% off for two models: the
ThinkPad X1 Extreme Gen 2
 and the
ThinkPad X390 Yoga
. The ThinkPad X1 Extreme Gen 2 is jam-packed with powerful hardware, making it uniquely suited for content creators as well as professionals who demand the most out of their laptops. With customisation options up to a 15.6” 4K OLED touch display paired with an eight-core Intel Core i9 processor and an NVIDIA GeForce GTX 1650 GPU under the hood, the ThinkPad X1 Extreme Gen 2 is ridiculously thin and light, starting at 18.4mm thin and 1.7kg.

Meanwhile the
ThinkPad X390 Yoga
 is a different beast altogether. A 2-in-1 laptop built for business, the X390 Yoga lets you use it in four different modes (Laptop, Tablet, Stand, Tent) and has a battery that will last for two whole workdays. An integrated ThinkPad Pen Pro slots away into the laptop when you don’t need it, and slides out for you to sketch, take notes, or sign documents. The 1.33kg frame means you can carry it with you anytime, anywhere.

There’s also the T series of laptops. The most popular series in the ThinkPad lineup, the T series has something for everyone. The mainstream T490 and
T590
 offer the best of ThinkPad at an affordable price point, while the T490s and T590s are slimmer and lighter variants. There’s also the T495 and T495s models for an even more affordable option, powered by AMD Ryzen PRO processors.

For 3.3 Mega Deals, Lenovo is offering a cool
33% off ThinkPad X1 Extreme Gen 2
, which is an instant saving of up to RM3,755! The 33% discount is
also applicable to the ThinkPad X390 Yoga
, while you can enjoy up to
RM2,033 instant savings if you purchase the ThinkPad T590
.

Lenovo 3.3 Legion Promotions

Lenovo’s Legion series of gaming laptops are fast gaining popularity worldwide due to their value. Offering a mix of powerful hardware at affordable prices, there’s a lot to like about the Legion laptops. Newer hardware innovations like high refresh rate screens are also included as standard in most Legion laptops.

Touted as one of the best value for money gaming laptops in the Legion lineup, the
Lenovo Legion Y540
 packs a huge punch. At a starting price of just RM3,853.18 with a huge range of hardware customisation, you can grab a Legion Y540 with an Intel Core i5 or i7 processor, an NVIDIA GeForce GTX 1650 up to RTX 2060 GPUs, up to 32GB of DDR4 RAM, and up to 2TB of super-fast SSD storage. Finally, you can also equip your gaming machine with a 144Hz 15.6” IPS panel for the best gaming experience.

For 3.3 Mega Deals, enjoy even more value from the
Lenovo Legion Y540 with up to 20% off
 selected models. Plus, get a free Legion Limited Edition Gift with every purchase of the Y540.

More Lenovo 3.3 Mega Deals Promotions

If you’re not in the hunt for a business-oriented laptop or a gaming laptop, there’s a sweet
18% discount for the Yoga S740
.

Available in both 14” and 15.6” display options, the
Lenovo Yoga S740
 is designed for the modern millennial as their everyday companion. Offering up to Intel Core i7 chipsets with up to 16GB RAM, create and enjoy media on the optional 4K VESA400-certified HDR display with thin bezels which reduces the Yoga S740’s overall size. It’s also packed with Lenovo Rapid Charge, which goes from 0 to 80% in just 30 minutes so you never have to pause your life.

Need more to kit out your new laptop? RM4 is all you need to fully equip your new Lenovo laptop. Simply top up RM1 for each of the following perks: a Legion M200 RGB Gaming Mouse, a Legion H300 Stereo Gaming Headset, and a Legion 15.6 Recon Gaming Backpack. Finally, the extra RM1 upgrades your standard carry-in warranty to a two-year onsite Premium Care warranty to your system.

Need even more? For every purchase of a Lenovo laptop, enjoy 33% instant discount for monitors as a purchase with purchase (PWP) bonus.

These are just a small portion of the wide range of amazing deals available across the entire Lenovo portfolio happening on 3 March 2020 and running for 72 hours only. Check out the
Lenovo 3.3 Mega Deals
 page for more.

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