AirAsia Shares Its Disinfection Procedure, Assures Passengers That Safety Is Top Priority

AirAsia has shared its disinfection procedure in a bid to reassure passengers that the airline is prioritising their safety amidst the spread of the Covid-19 outbreak.

Coordinated by AirAsia’s maintenance operation controller (MOC), the procedure involves a cleaning team of 5 to 6 people, and takes up to two hours to complete at every aircraft night stop. It is carried out according to the Airbus Aircraft Maintenance Manual (AMM), and all disinfectant products are approved by the Public Health Authority and aircraft manufacturer.

In the advisory, AirAsia detailed the steps taken during the disinfection procedure, such as how the chemicals are applied and which areas of the aircrafts are affected.

AirAsia also highlighted the role of the High Efficiency Particulate Arresters (HEPA) filtration system installed in its aircrafts, which is said to be able to filter 99.999% of dust particles and airborne contaminants. According to the airline, these filters are on par with those used in hospital operating rooms and industrial clean rooms. As such, you can be assured that the air that you breathe during your flights is as clean as it can get.

AirAsia is not the only flight company in Malaysia to share its Covid-19 prevention measures and disinfection procedure to ease passengers’ minds. Malaysia Airlines (MAS), too, has released an extensive list of
preventive measures
 that it has adopted to combat the spread of the Covid-19 outbreak.

If you are interested, you can check out AirAsia’s full
disinfection procedure
 in the advisory that it has released to the public.

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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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    Passport Overused

    3 years ago

Great post 😁

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5 Things You Can Do to Aid Couple Finances Before Marriage

Financial issues in a marriage can be a bigger deal than many anticipate. When the rose-tinted glasses of courtship wears off and the reality of bills loom large in the household – patience can wear thin and problems abound.

Pre-empting these issues and making some decisions from the outset will hold you in good stead when the time comes around. We give you five simple things you can do to help ease yourself into the world of couple finances before you walk down the aisle.

1. Give Joint Finance Accounts a ‘Trial Run’

Having joint bank accounts is not something that will work for everyone and some couples do much better when they are able to autonomously decide what is best for their money.

Give the idea of joint finance accounts a ‘trial run’ by inputting a sum of your money into an account together. This account can be used to pay for dates or save towards the wedding.

If however, you find the joint decision making for the account is wearing your relationship down or creating animosity; perhaps joint finance accounts are not the way to go.

There is no right or wrong way to begin couple financing so always give yourself options to find the right fit for your potential family. You can also check out
our joint account pros and cons list
 to further fortify your decision.

2. Get a Clear Idea of Each Other’s Spending Habits

You may be in love and positively sure your personalities suit but what about spending habits? Even the best of couples often have very different ideas about money but with understanding and compromise; this doesn’t have to cause too many problems in your married life.

Get to know your partner’s thoughts about money and take a good look at how they spend. Similarly, sharing your thoughts about money and spending will help them understand you better.

The idea isn’t to impose but to hopefully work together and maintain some amount of personal habits without putting the household bills at risk.

Have a discussion on money and how you hope to work together in future. It’s not a romantic way to spend time by any means but one that can be a great boon to your future life together.

3. Give Joint Purchases a ‘Trial Run’

Just like joint finances; couples often opt to buy houses or cars together as the joint income allows them to afford bigger and better items. That said; taking joint responsibility for a big loan can be a strain and it has often caused irreparable rifts in marriages when things go bad.

Practise making semi-big purchases together before going in for the long haul. Is there perhaps an electronic item you would both like to have such as a video camera or advanced GPS system? Share the cash to purchase a ‘joint’ item and see how you manage.

Often, most couples do not have a choice when deciding to joint purchase a home thanks to skyrocketing house prices in Malaysia; but the trial run will train you to share your resources and get used to the idea of joint ownership.

It’s definitely a big leap from a Go-Pro to a Condo but the fundamentals are the same – how good are you at sharing?

4. Start Saving For Big Things Together

Future married life will surely bring with it a host of joint purchases such as home furnishings or even paying for the wedding! It is important that you consider this a team effort and save for it together.

Start with a small sum put aside every month even if it is not in the same account. By the end of set period – check your total sums and see how much closer you are to your goal.

Each person needs to be disciplined and responsible enough to save their share so you both can reap the rewards later on.

5. Take Turns Picking up the Bill

The discussion on whether or not a man or woman should pay during dates have often come up. Unless one party decides to be a stay-at-home parent; the issue of paying for bills and meals will fall on both spouses to pay; even if not in equal shares.

Take turns to pay or set a system that enables you to know ‘who’s turn it is’. This isn’t meant to be rigid and calculating but to aid in the payment of bills by each party diligently later on.

Getting used to the idea of sharing expenses will make the shift much easier when you are sharing a household.

Are you getting ready for marriage? Let us know if you have any tips for couple finances too in the comments!

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TNG Partners With BAM To Release Limited Edition TNG NFC Cards Featuring Badminton Stars

Touch ‘n Go (TNG) is releasing yet another limited edition enhanced TNG card with near-field communication (NFC) capability, this time in collaboration with the Badminton Association of Malaysia (BAM). Introduced in conjunction with the ongoing Petronas Malaysia Open 2023, the cards will feature several of Malaysia’s badminton stars.

These new exclusive cards will feature the images of men’s double players, Aaron Chia and Soh Wooi Yik, as well as Nur Izzudin Rumsani and Goh Sze Fei. Women’s doubles representatives, Pearly Tan and Thinaah Murautharan, too, are included in the list of elites to be featured. There will also be a card featuring men’s single player Ng Tze Yong. Aside from their images, the cards will carry the printed signatures of the players as well.

📣Guys! Ada announcement!📣

We’re teaming up with
@MyTouchnGo
 to produce these awesome limited edition cards for all BL😍

Get your cards at Touch ‘n Go booths in Axiata Arena on 14 & 15 Jan (Saturday & Sunday)
#PETRONASMalaysiaOpen2023

pic.twitter.com/9Jv3VZt6qO

— BAM (@BA_Malaysia)
January 9, 2023

One little catch, however: these cards can only be purchased exclusively during this upcoming weekend (14 and 15 January) at the Petronas Malaysia Open 2023 event, which is currently happening at the Axiata Arena in Bukit Jalil (BAM Juara Fest area). Those who are interested will need to visit the TNG booths at the location (Carpark D).

Neither TNG nor BAM have released details about the price of the cards, but based on previous instances, customers can expect them to cost more than the usual RM10 charged for standard TNG NFC cards. Earlier limited edition cards by TNG – such as the
United Voice
 and
Mission GreenPossible
 cards – were priced at RM25 per piece, while the
Christmas charm
 that functioned similarly to the TNG NFC card was priced at RM30 per piece.

While badminton enthusiasts anticipate the arrival of the new limited edition cards this weekend, the TNG booths at the BAM Juara Fest at Axiata Arena also offer a special bundle deal in the interim, consisting of the standard TNG NFC card and an RFID self-fitment kit. Priced at RM40, the deal will let you save RM5 as the NFC card and kit usually cost RM10 and RM35, respectively. Stock is limited, however, so do visit the booths as soon as you can if you’d like to purchase the bundle.

(Source: BAM [
1
,
2
])

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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Unifi Basic, Unifi Turbo Boost, 2x Streamyx Speeds, And More: What TM Announced To Boost Malaysian Internet

Last week’s
media briefing from TM
 was merely a teaser. Today,
the company unveiled
 its next steps in (finally) providing the service upgrades expected from TM, with major upgrades coming to Unifi and Streamyx. TM also outlined ways to help Malaysians who are not within the Unifi coverage.

Unifi Basic

First up, there was the famed Unifi Basic plan which caught everyone’s attention last week. The
Unifi Basic plan
 is essentially a Unifi fibre broadband plan stripped down to its essentials: 30Mbps download speeds for just RM79 a month – but without access to add-on features like Unifi TV and IP-based phone.

This is a huge drop in price compared to the current RM199 Unifi plan with the same speed, but there are, naturally, some additional fine print. For starters, the Unifi Basic plan has a 60GB monthly quota. It certainly sounds very little considering the fact that this is a home broadband plan, but the second caveat does clear things up. The Unifi Basic plan is only available for Malaysians whose household income is less than RM4500 a month.

This is a plan for the lower-income groups as a powerful way to provide Malaysians in this group access to the freedom and power of the internet. Unifi Basic isn’t designed for the majority of Malaysians, and definitely heeds the call of the Malaysian government’s vision of making internet access a basic human right.

Unifi Turbo for existing Unifi subscribers: up to 10x speed upgrade

For existing Unifi Home subscribers, TM is offering a massive, massive speed upgrade of up to 10 times of what is offered in current packages. Because there are many different types of packages offered by Unifi (including legacy plans), TM breaks down the speed upgrades to its in download speeds.

Less than 20Mbps: speed upgrade to 100Mbps

30Mbps: 300Mbps

50Mbps: 500Mbps

100Mbps: 800Mbps

This upgrade will begin from 15 August 2018, where the rollout will take place in stages to the 800000+ Unifi Home subscribers nationwide. And like before, there will be no usage quota for these Unifi plans.

Meanwhile, customers who sign up be to any current Unifi Home plan before 31 December 2018 will receive the speed upgrades in phases beginning 2019, as TM is prioritising the speed upgrades to existing customers first.

Finally, TM will honour all existing contract durations for Unifi Home subscribers – the speed upgrade won’t refresh their contract cycles.

Streamyx customers: speed upgrades or conversion to Unifi option

Depending on their locations, Streamyx customers will also see some changes to their internet plans. More than 340,000 Streamyx subscribers who are in Unifi-supported areas will be offered Unifi Home plans that are similarly priced as their existing Streamyx plan.

For the remaining 350,000 Streamyx subscribers not covered by Unifi, TM is doubling the speed that they are subscribed to today. According to TM, this is a temporary measure as the company “continuously invest in the best of both fixed and wireless technologies”.

Streamyx customers can check out Unifi’s official website from 15 July to see if they are eligible for the Unifi conversion or the speed upgrade, and also to book for an installation.

Unifi Wireless Broadband for contract freedom

Essentially, the
Unifi Wireless Broadband service
 is designed to complement TM’s offerings to cover those who do not wish for a fixed broadband service, or are not residing in an area covered by Unifi’s fibre broadband.

This plan has been
available since April 2018
, and consists of a wireless router with an LTE SIM card inside. This means that the Unifi Wireless Broadband is a plug-and-play solution with no installation required.

The Huawei router supports up to 64 connections simultaneously, and customers will be required to make a one-time payment of RM565 for the device – this is almost half the retail price of the router. This broadband plan is also contract-free, so you can terminate the plan at any time.

However, there is a monthly high-speed LTE quota of 60GB per month. If you exceed it, the connection speed will be throttled to 128kbps until the next cycle, or you can choose to top up data which expires after 90 days. Three top up options are available: RM10 for 1GB, RM20 for 5GB, and RM40 for 20GB. Top ups can be done at Unifi’s
online self-care portal
, or at the mobilecare@unifi app available for Android and iOS.

Unifi Mobile Postpaid: unlimited LTE data, calls, and SMS for RM99 a month

Besides the broadband plans, TM is
re-introducing the Unifi Mobile Postpaid plan
. For RM99 a month, this zero-contract smartphone plan offers unlimited high-speed LTE data, 10GB hotspot allocation, and unlimited calls and SMS for RM99 a month.

Propelling Malaysian Internet Forward

From what it announced today, TM is making good on its promise of delivering some of the fastest broadband internet speeds in the region. At the same time, it is also ensuring that those in the lower income groups are not left behind, by making Unifi Basic exclusive to those who need it. Finally, having Unifi Mobile as well as Unifi Wireless Broadband means TM essentially has a hand in virtually every business vertical that’s related Malaysian internet.

(Slide images: Amanz.my)

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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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iPay88 Adds ShopeePay To Its Payment Options

(Image: New Straits Times)

iPay88 said that it has added e-wallet ShopeePay as one of the options within its payment gate solution, thereby strengthening iPay88’s partnership with e-commerce platform Shopee.

With the integration of ShopeePay, both online and offline merchants that are subscribed to iPay88’s network will now be able to accept ShopeePay as another payment option. This also means that ShopeePay users will be able to use the e-wallet at online stores, such as Al-Ikhsan Sports, Delivereat, MPH Online, Photobook, Signature Snack, and Tune Talk. They can also tap into ongoing promotions, such as the current
RM3 cashback
 offer when consumers spend a minimum of RM15 with these merchants.

The co-founder and executive director of iPay88, Lim Kok Hing commented that e-wallets have proven to be a fast and convenient mode of transaction, with a growing number of consumers preferring to use it for both online and offline purchases. “ShopeePay’s integration into our payment solutions is needed as we foresee there will be a continued e-wallet demand for payments as Malaysians seek rewards in the form of points, cashback, and discounts in this trying time,” he said.

Meanwhile, the head of ShopeePay, Alain Yee said that this partnership will enable ShopeePay to become the preferred e-wallet for all Malaysians. He further pointed out that ShopeePay is also being adopted by users outside of the Klang Valley and major cities in the country, sharing that ShopeePay’s highest user growth rate is recorded in Kelantan, Kedah, and Perak.

“We recognise the massive opportunity to expand ShopeePay with iPay88 as e-wallets’ popularity has grown by leaps and bounds in the last 12 months. We are very excited to see how our partnership with iPay88 has flourished over the years into something this large,” said Yee.

Aside from this, iPay88 also revealed that its e-wallet transactions have multiplied by six-fold in 2020 compared to the previous year, with 4.1 million transactions being recorded in total. This is driven by the Covid-19 pandemic, which saw many businesses digitalising themselves to survive. The increased online activity is most clearly seen in online shopping, cashless payments, and food delivery services. iPay88 also said that its online touchpoints increased by 30% in 2020, to over 37,000 as merchants moved their businesses online.

(Source:
The Malaysian Reserve
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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Petrol Price Up Again at Midnight: RON 95 to Cost RM2.30 per Litre

We were tempted to just copy and paste the
entire article from September 2013
 about the price rise that happened then (interesting how these increases are perfectly timed just before the Budget announcement) onto this post as it would probably serve our purposes for the most part. But then we didn’t because we’re hardworking that way. Anyway,this just in: petrol prices set to go up RM0.20 at midnight; people crowding kiosks; more ‘love’ letters to the  government and just all around grumbling.

There really isn’t much to say. Bad news is better made in few words.

The new prices for
RON95
 will be
RM2.30
 per litre while
 diesel fuel
 will cost
RM2.20
 per litre; raised RM0.20 from RM2.10 for RON 95 and RM2.00 for diesel fuel respectively.

The current unsubsidised market price for RON95 is RM2.58 per litre while diesel is RM2.52 per litre.

The increase was announced by the Prime Minister’s Department on Wednesday, 1 October 2014
as reported by the Star
 and other Malaysian dailies.

All this writer can say is that after two years of saving hard whilst I took the KTM/LRT combo to work everyday, and being stuck in a stalled tram at least once a week, I was finally able afford a downpayment on a car – there are few things less scary to me than going back to our city’s less than perfect public transport again.

“This move is in line with the subsidy rationalisation plan by the government to ensure that the country’s finance remain strong,” the Ministry said in a statement on Wednesday.

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PayNet Announces Fintech ePayment Accelerator Programme, Offers Grants Of Up To RM500,000

Payments Network Malaysia (PayNet) has launched a three-month Fintech ePayment Accelerator Programme, which seeks to support fintech companies that are interested in advancing the adoption of e-payments within the country.

According to a statement by PayNet, the programme will require applicants to pitch ideas and solutions that focus on the three following matters, namely:

Adoption of e-payments
: Encourage the conversion of the unbanked and underbanked population towards e-payments, such as internet and mobile banking.
Improvement of existing products
: Enhance existing PayNet retail products so that they accommodate previously uncatered needs of certain consumers, or are made more effective for future use.
Introduction of new business solutions
: Explore new business solutions or new use cases of existing products in a bid to expand into new market segments and offer a more inclusive financial ecosystem.

Fintech companies that are successful in their enrolment into the programme will be awarded a grant of up to RM500,000 to support the execution of their ideas. They’ll also have the opportunity to work with PayNet’s extensive ecosystem of banks, e-wallets, and third-party acquirers.

Application for the programme is open from now until 30 April 2022, and interested parties can submit their proposals online via the
official Fintech ePayment Accelerator Programme website
. “Submissions should consist of a pitch deck or a video presentation addressing the problem statement and include an introduction of the team,” PayNet said, adding that each participant can submit more than one proposal.

Moreover, PayNet stated that shortlisted applicants will advance to a pitching session in June 2022, where they must then convince a panel of judges to allow them to progress to the proof-of-concept (POC) stage.

The chief executive officer of PayNet, Peter Schiesser commented that this programme is both timely and relevant in its launch as Malaysia strives to transition towards a digital economy. “I urge potential fintechs to seize this opportunity to showcase their solutions and participate in expanding the country’s digital ecosystem and advancing financial inclusion,” he said.

(Sources:
The Star
,
PayNet
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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Elevate Your Audio Experience When You Trade-In Your Earphones For JBL Tune TWS Earbuds

In this day and age where everything moves at lightning speed, music tends to be a place where many people find solace. What better way to elevate your listening experience than upgrading your audio device?

JBL, a household name popular for its expertise in creating audio technologies, has recently launched two True Wireless Stereo (TWS) earbuds – the JBL Tune 130NC and JBL Tune 230NC, and you can enjoy
a rebate of RM100
 with your purchase!

Want to learn more? Read on to find out.

***

When it comes to purchasing gadgets which tend to be used for the long-term, it might be worth the investment to find products of high quality. Now that you’ve learned more about the new JBL True Wireless Stereo earbuds, you could consider them for a premium experience crafted by audio experts along with all the features you would need like Active Noise Cancelling, 4 mics for clearer calls, long battery life, and more.

Moreover, from now till 30 Sept 2022, you can take home these quality earbuds at a rebate price. Through the Dare To Vibe campaign, you can trade in your current earphones, not exclusive to JBL brand, to upgrade to new True Wireless Stereo earbuds and save more.

Get the JBL TWS earbuds with rebate now at any Harvey Norman and TMT outlets.

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GDP and inflation to grow in 2014

The Asian Development Bank (ADB) has predicted a good year for Malaysia and most of Southeast Asia in terms of the economy in 201
4. Despite Fitch Ratings hitting negative, the ADB says Malaysia’s Gross Domestic Product will grow by 5%  whilst the region will see an average 5.3% increase next year.

“The pace of growth is expected to quicken in 2014 on the back of improved economic performances in the US and Europe and a gradual acceleration in global trade, but partly offset by the dampening impact fiscal consolidation will have on domestic demand,” the bank said in a report released earlier this week.”

But before you don your sunnies and head to the tropics to celebrate, you might want to think about a decent lifestyle cut-back first. The ADB also predicts that inflation in the country will increase by 2.2% in 2014.
The rise is linked to the recent fuel subsidy cuts and other subsidy reductions which are expected to be revealed in the Budget 2014
.

Domestic Trade and Consumer Affairs Minister, Datuk Hasan Malek had this to say about the possible reductions.

“The government’s intention is to strengthen the economy. We do not want to be like the United States, where its economy has been shut down,” he was quoted as saying by the newspaper.

“Sometimes certain actions need to be carried out. For me, the country’s interest is paramount.”

Whilst the rationalisation is aimed at reducing the government’s liability and thus strengthening the country’s economic footing
, this means a lot more pressure on everyday folk struggling to just get by. In the country, wages are still stagnating, for many, basic costs of living prevent them from making ends meet.
This will create a new problem where domestic demand overall for goods and services decrease
 with rippling effects throughout the economy.

PAS research centre director, Dzulkefly Ahmad argues that goods and services taxes (GST) is not suitable for Malaysia because its economy is driven by domestic demands.

If GST is implemented, the former Member of Parliament said Malaysians’ spending power would decrease with rising inflation, thus affecting the country’s economy and revenue stream.

It looks like the tropical holiday for most of Klang Valley-ites may be resigned to an RM3 (price increase!) can of Coke at Taman Jaya. Sorry, you may not be able to afford those Petaling Street sunglasses either.

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Government Looking To Set Minimum Wage Based On Sectors

(Image: Malay Mail)

Human Resources Minister M. Kulasegaran announced that the government is looking into setting a more realistic minimum wage according to different sectors. The minister explained that the National Wage Consultative Council Act 2011 allows for minimum wage to be paid according to criteria such as sectors, types of employment, and regional areas.

“We will consider minimum wage based on sectors, for example, or plantations, hotels, and coffee shops among others to be based on a more realistic minimum wage,” said Kulasegaran. He added that his ministry will take into account the current realities of each sector in setting the differing minimum wages.

Kulasegaran said that the ministry will be conducting studies and discussions prior to getting approvals from the Cabinet. He added that this next revision on the minimum wage will be done within the next two years.

The proposed sector-based review is prompted by complaints that the new minimum wage rate had caused businesses to close down or lay off workers. Some sectors found the increase in minimum wage to RM1,100 to be too steep of a jump, triggering higher cost of operations.

In previous years, the national minimum wage was RM1,000 (Peninsular Malaysia) and RM920 (East Malaysia). In September 2018, the government stated that the minimum wage would be standardised to RM1,050 across Malaysia, but it was later confirmed in November that this amount would be raised to RM1,100 nationwide from 1 January 2019.

(Source:
The Star
,
Malay Mail
)

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Mudah.my Allocates RM1 Million In Credits To Support Local SMEs In Ramadan Campaign

Mudah.my has launched the Ramadan Bersama Mudah.my campaign, which is aimed at supporting small and micro businesses. This will enable micro entrepreneurs to effectively connect with customers during the month of Ramadan without the need for both sellers and customers to leave their homes.

Mudah.my has allocated up to RM1 million worth of credits for this campaign, which will be distributed to participating vendors. Each participating business will receive RM100 worth of credits, which they can then use to boost their visibility and reach on the platform. In turn, this gives them a better chance at making more revenue.

Participating vendors will need to register a PRO Niaga account, as the RM10 credits will be transferred to the account within 48 working hours after they’ve obtained approval for their first advertisement under the “Ramadan Bersama Mudah.my” category. Upon receiving it, the credit is valid for 30 days.

Note that the campaign is applicable to vendors in certain categories, namely food, fashion, health & beauty, bed & bath, home appliances & kitchenware, as well as furniture & decoration.

This campaign is one of Mudah.my’s initiatives to carry out its #mudahsupportlocal mission by acting as a supporting platform for Malaysian businesses and ventures. This is especially important during these trying times, when not everyone may have been fully prepared for the swift and undeniable changes that have transpired.

“According to SME Corp Malaysia, micro, small, and medium businesses in Malaysia employ over 66 percent of the Malaysian workforce. We are proud to be able to do our small part to support local businesses and connect our users with their Ramadan necessities at the same time,” said the chief executive officer of Mudah.my, Gaurav Bhasin.

Additionally, with the country’s unemployment rate having increased due to the movement control order (MCO) period, Malaysians could consider capitalising on the campaign to make Mudah.my one of their sources of income during the month of Ramadan. The Department of Statistics Malaysia (DOSM) had revealed that the number of unemployed persons in Malaysia has reached
610,500 people
 in March 2020.

For more information, head on over to the
Ramadan Bersama Mudah.my campaign page
. Alternatively, you can also contact Mudah.my at +603-2284 9701 or email
[email protected]
.

In response to the ongoing battle against COVID-19, Mudah.my also aims to counter fake news by curating facts including daily case updates, and has launched the
#mudahdirumah campaign
. It enables its employees and fellow Malaysians to show their appreciation for the country’s frontliners who are fighting to keeping all Malaysians safe.

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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Boost Announces Partnerships With McDonald’s And Lazada, Offers RM5 Off Promos

Boost has officially announced its partnerships with Lazada Malaysia and McDonald’s, where Boost users can use the e-wallet to pay for their Lazada online shopping and fast food orders from McDonald’s. To mark the occasion, Boost is offering discounts and cashback for Lazada and McDonald’s spend.

For the Lazada promo, you can get a voucher worth RM5 off a minimum spend of RM50 which is valid from now until 28 February 2021. The voucher can be collected via the Lazada website or mobile app and is applicable for selected Lazada purchases paid for using Boost.

Meanwhile, you can get RM5 cashback in your McDonald’s Partner Wallet if you spend a minimum of RM25 in a single transaction on the McDelivery website or mobile app using Boost. Cashback is limited to the first 50,000 transactions and each user may receive cashback once throughout the campaign period, which will run for the month of February. You can use the cashback on your next order through the McDonald’s website, app, or participating physical outlets.

Boost first appeared as a
payment method on Lazada
 at the end of last month, while both McDonald’s online platforms and physical stores were Boosted from the beginning of February. “This is part of our goal this year to chart the way into the now normal – a digital and contactless world – by building Boost to be the essential toolkit for everything you need online and offline through an omni-channel e-wallet platform,” said Mohd Khairil Abdullah, CEO of Boost.

“Together with our partners, we will push ourselves to introduce more innovative features for both consumers and businesses that will enable easier and instant access to day-to-day lifestyle necessities at the tap of the screen. Concurrently, continue facilitating digital and financial inclusivity as we navigate the now normal,” Khairil concluded.

You can find out more about the Lazada and McDonald’s deals as well as other promotions offered as part of Boost’s ongoing
Online Festival
 here.

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Pre-Orders For New iPhone 13 Series To Begin On 1 October, Starting At RM3,399

Apple has unveiled its latest iPhone 13 series, with four new models: iPhone 13 mini, iPhone 13, iPhone 13 Pro, and iPhone 13 Pro Max. Interestingly, the official Malaysian pricing has also been revealed, and the devices will be available for pre-order on Apple’s online store starting from 1 October 2021 (and officially available from 8 October).

The new iPhone 13 series features the upgraded A15 Bionic chip, which is an improvement from the A14 chip that powers the iPhone 12 models. Other than that, the other two major enhancements are to the display and the camera systems. The Super Retina XDR displays on the Pro models feature ProMotion technology, offering variable refresh rates of up to 120Hz, which has been a common feature on Android flagships. Meanwhile, the entire iPhone 13 range feature new camera sensors and interesting software tech such as Macro mode and Cinematic mode for video.

In terms of storage, all four models now come with a 128GB base storage; previous generations of iPhone mini and standard iPhone only had a base storage of 64GB. From there, customers can then upgrade to a storage of 256GB, 512GB, or even 1TB (only for iPhone 13 Pro and Pro Max).

Of the four models, the iPhone mini comes across as the most affordable with a starting price of RM3,399, whereas the standard iPhone 13 begins at RM3,899. These two models come in five different colours, namely Pink, Blue, Midnight, Starlight, and Red.

Meanwhile, the starting price of iPhone 12 Pro and Pro Max are set at RM4,899 and RM5,299, respectively. These two models are offered in Sierra Blue, Silver, Gold, and Graphite.

Here’s the full pricing list for all the models of the iPhone 13 series:

iPhone 13 mini
iPhone 13
iPhone 13 Pro
iPhone 13 Pro Max
128GB
RM3,399
RM3,899
RM4,899
RM5,299
256GB
RM3,899
RM4,399
RM5,399
RM5,799
512GB
RM4,799
RM5,299
RM6,299
RM6,699
1TB
N/A
N/A
RM7,199
RM7,599

While pre-orders on the Apple online store will be open starting from 1 October 2021, you may also want to keep an eye out for the package deals that may be offered by popular local telcos. These may come with certain rebates or add-on packages that could add further value to your purchase.

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

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Alex Cheong Pui Yin

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

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8 Colleagues You Have Based On KL Gangster: Underworld

iflix Original drama series KL Gangster: Underworld chronicles Kuala Lumpur’s dark and dangerous criminal underbelly. But some of its characters may remind you of your colleagues!

1) The Dodgy One

This is that colleague of yours who always seems to have answers to all your problems. But if you take a minute to stop and think about what they’re saying, it sounds a lot like they’re just trying to get you into trouble.

Cheras gangster boss Tauke is always quick to offer you a deal, but beneath his smooth-talking exterior, this big shot has got a lot of schemes under his belt.

2) The Risk-Taker

Some people in the office just like to keep their heads down and avoid getting into trouble with their bosses. But then we also know that one “hero” in the workplace who just can’t resist sticking their necks out in the hopes of a big pay-off.

Shah knows that Tauke’s deal is too good to be true, but he is willing to take the risk for the woman he loves. After all, go big or go home right?

3) The Father Figure

It’s great having a mentor – someone who can take you under their wing and show you the ropes. The corporate world is a scary place, and you should learn all you can from your colleague who’s been around longer than you have.

Similarly, Ayah Zan is the patriarch and boss of the Kampung Baru gang. But don’t be fooled by his fatherly demeanour, Ayah Zan can get mean when he wants to.

4) The Corporate Climber

These are the ones you really have to watch out for. They’ll do anything to get what they want, and they don’t care who gets thrown under the bus in the process! The best you can do is stay away from these corporate climbers and try not step on their toes.

Madam Wong knows how to come up on top. After all, she managed to snag the Bangsar Gang’s top post by killing her husband’s nephew in public! She will climb all the way to the top, even if it means stabbing you (in the back).

5) The One Who Always Smokes

Say you need to ask this one colleague something, but then you realise that he’s out on a smoke break again. He’s always holding a cigarette when you see him outside the office, and you’re pretty sure he wishes he could smoke inside the building too!

Kampung Baru gangster Adi is always smoking, sometimes even while he is fighting! How much do you think he spends on cigarettes in a week?

6) The One Who Never Pays You Back

Remember your colleague who owes you a lot of money? You’ll have to resort to things like constant face-to-face nagging, sending regular texts as a reminder, or just patiently waiting for the day you finally see your precious money back.

Well, in KL Gangster: Underworld, this is what happens when to those who don’t pay up what they owe.

7) The One Who Has Your Back

Yes, it’s a jungle out there, but once in a while you’ll be lucky enough to find a colleague that you can count on. This person will end up being your all-around office buddy, one who’ll keep you going when the times are tough.

There are heart-warming displays of friendship in KL Gangster: Underworld as well. It is always nice to have a buddy who will back you up in a fight, just like how Shameen saved Belut!

8) The Fresh Grad

Ahh, the fresh grads. You can always tell which ones they are because of their youthful faces, hopeful airs, and eagerness to prove themselves. The office wouldn’t be the same without their tireless energy, however long that may last.

Elina is young and optimistic, with bright dreams of starting a new life. Will she succeed in achieving her dreams?

Want to know more about the characters in KL Gangster: Underworld? You can watch all six episodes on
iflix
 now for free!

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DuitNow Is Coming Soon: Here's What You Need To Know

In the last week, Malaysians have
begun receiving text messages from their banks
 informing them of a new banking service called
DuitNow
. If you haven’t heard about it before, this SMS would certainly be concerning. Is DuitNow a scam? Who is PayNet, the company behind DuitNow? Why did I get a pre-registration SMS when I didn’t sign up for anything?

Worry not, as DuitNow is an initiative to simplify bank transfers by using easy-to-remember details such as your mobile or IC number. Here’s everything you need to know about this new service that’s kicking off on 1 December.

What is DuitNow, and who is PayNet?

DuitNow is a new instant funds transfer service that will be available within a participating bank’s online transfer facility, allowing users to instantly transfer money using just their mobile or IC number.

DuitNow is developed by
PayNet
, an entity that counts Bank Negara Malaysia as a major shareholder and 11 of the major banks in Malaysia as shareholders. PayNet designs, builds, and operates world-class payment systems for the benefit of individuals, businesses, and financial institutions in the country. You may not have heard of PayNet before, but it is the body that developed services and frameworks such as JomPAY, MyDebit, FPX, and GIRO, systems that handle virtually all digital banking and payments Malaysians use today.

So no, DuitNow is not a scam, even if the wave of pre-registration text messages caused quite a bit of worry among Malaysians.

How does DuitNow work?

The idea behind DuitNow is to simplify the process of online bank transfers. Currently, to transfer money between individuals, we need the recipient’s bank account number as well as the bank name. It’s safe to say that not everyone would have their bank account number memorised (they can go up to 14 digits), so using a mobile or IC number does make sense.

When DuitNow is launched, it will appear under the “Funds Transfer” or “Send Money” menu of the banks’ online banking website or app. The process is very simple:

Enter the recipient’s mobile phone number, IC number, or business registration number.

Enter the amount to transfer.

Confirm the recipient’s full name (or company name).

The transfer goes through instantly.

Since this is a PayNet initiative, there is an extensive list of partners which includes 44 banks that support DuitNow at launch. What that basically means is that you’ll be able to use DuitNow from 8 December 2018 and send money to virtually any bank account in Malaysia.

There is no fee for using DuitNow to send and receive money up to RM5,000, and for transfers above this amount, a 50 sen fee may apply. The maximum transaction limit that can be made using DuitNow is RM100,000 for consumers and RM100,000,000 for businesses – though individual banks may set their own limits.

DuitNow also supports future-dated and recurring payments, as well as favourite recipients to make future payment processes faster. On top of that, the government and businesses can disburse funds to you using your IC number as an identifier.

What happens if I have multiple bank accounts?

When you register for DuitNow, each unique identifier (IC number, mobile phone number, business registration number, or passport number for foreigners) can be used as a “DuitNow ID” that is tied to your bank account. When you have more than one bank account, you can use a different identifier as that account’s DuitNow ID.

For example, you can use your mobile phones number as the DuitNow ID for your Maybank account, and your IC number as your CIMB bank account. You can also use other forms of identification, as long as they are verified by the bank.There is no limit as to how many DuitNow IDs an individual may have.

Is DuitNow Secure?

Since DuitNow uses an individual’s phone number and/or IC number as identifiers that are tied to their bank accounts, there are some legitimate privacy concerns. How secure is DuitNow?

For the most part, the company’s website addresses most of the issue. DuitNow’s features can only be accessed within the banks’ internet banking and mobile app, and therefore lies within the safety and security of the banks.

In addition,
DuitNow also states that
 if any party knows your DuitNow ID, they can only use it to direct payments to your account – they cannot access your account itself.

At a media briefing held after the publishing of this post, PayNet addressed the concern about conmen potentially using the service to farm for names and numbers. DuitNow has a protection feature in place where if a user logs in more than three phone numbers consecutively without making a fund transfer to any of those numbers, they will be blocked from making any further queries for the next 24 hours. PayNet also revealed that the individual banks have the ability to tweak this feature to be more strict, if they prefer.

It doesn’t help either that a lot of banks turned DuitNow into an “opt out” service, which means consumers are automatically enrolled to the programme. That’s why there was a large amount of text messages being sent out by banks over the last week.

Why did I get a pre-registration SMS for DuitNow?

According to
DuitNow’s FAQ
, banks are given two options for pre-registering their customers into DuitNow: an “opt in” and an “opt out” method.

Given that there are many Malaysians who own more than one bank account, it wasn’t surprising that most banks adopted the “opt out” method and raced to pre-register their customers and tie their mobile phone numbers to the banks’ accounts.

And since the public has absolutely no idea that DuitNow even exists, it was only natural that there was an uproar from some Malaysians. The banks acted before PayNet even announced what DuitNow is, leaving plenty of Malaysians with multiple text messages from different banks informing them of the same pre-registration process that they themselves have no idea about.

(Image: Amanz)

But why would the banks jump the gun? The answer is simple.

Mobile phone numbers are the most-memorised ID of the DuitNow IDs, and DuitNow’s rule of only one bank account tied to one DuitNow ID means whichever account tied to the user’s phone number would be the most-used account for paying and – more importantly – receiving funds. Banks invest the money that we deposit in our savings accounts to generate money, so the more money we deposit into our accounts, the more funds the banks have to make
more
money. From a business perspective, and with the conditions set by PayNet, it’s not a surprise that this whole mess happened.

In any case, while a few banks went for the “opt in” method and spared themselves from the mess, there have been rumours that Bank Negara Malaysia stepped in to instruct all banks to stop the pre-registration process. PayNet is scheduled to hold a press conference to the media about DuitNow on 22 October, so it’s likely we’ll hear more about this during the event.

What’s next?

All Malaysians can use DuitNow. If you choose not to use DuitNow, you have 30 days to opt out of using DuitNow from the day you receive the automatic registration SMS, email, or notification from the bank. If you have not received a pre-registration SMS, it does not mean you cannot use DuitNow – you’ll just need to register for it from 1 December onwards.

In fact, here’s a list of scenarios that all Malaysians with bank accounts would face, and the next steps they can take.

The concept of sending money to a bank account using a phone number as an identifier isn’t new. The UK has
Paym
, Singapore has
PayNow
, while Australia launched
PayID
 early this year. DuitNow runs similar to these services, and offers inherent benefits for users even if Bank Negara Malaysia also recently made
instant interbank transfers free of charge
.

DuitNow looks to be a service that is convenient, quick, and secure – but given
Malaysians’ scepticism over conducting financial transactions digitally
, it may take some time for Malaysians to warm up to DuitNow.

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Pang Tun Yau

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

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    Francis See

    2 years ago

Can DuitNow used to transfer money to other countries, like Singapore?

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    Pang Tun Yau

    2 years ago

    Reply to

        Francis See

Currently, no. Recently DuitNow was expanded to support cross-border payments in Thailand, so SG could be in the works.

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Deputy Finance Minister: T20 “Monopolising” EPF With Their Savings

(Image: Malay Mail/Miera Zulyana)

Deputy Finance Minister Datuk Seri Ahmad Maslan has commented that the Employees Provident Fund (EPF) is being “monopolised” by the T20 group, as their savings make up the bulk of the total amount.

Additionally, the deputy minister said that there was an 11% increase in the total EPF savings belonging to the T20 group during the Covid-19 pandemic. Specifically, the total amount of funds in EPF accounts that belong to the T20 group increased from RM538 billion to RM597 billion by December 2022. Additionally, T20 EPF accountholders make up 2.6 million of EPF members.

In contrast, the amount of EPF funds belonging to the B40 group fell by 46%, from RM13 billion in April 2020 to RM7 billion in December 2022. There were 5.2 million B40 EPF members. Similarly, the M40 group – also numbering 5.2 million EPF members – also saw their total amount of EPF savings plunge from RM191 billion in April 2020 to RM138 billion in December 2022 – a decrease of 28%.

(Image: Malay Mail/Ahmad Zamzahuri)

Additionally, Ahmad Maslan shared the breakdown of the median EPF savings during the same period by race. For Malays, savings decreased from RM16,938 to RM5,529, whereas for non-Malay bumiputera, the amount plummeted from RM10,591 to RM3,302. Ethnic Chinese and Indians, meanwhile, saw their median EPF savings fall from RM45,756 to RM45,162, and from RM25,724 to RM14,929, respectively.

Given the data, Ahmad Maslan reiterated that the government is wary about allowing another round of EPF withdrawal, despite being pressed by multiple parties to do so. He also said that other countries that have similar schemes as Malaysia’s sovereign pension fund – such as Australia, Peru, and Chile – have stopped allowing withdrawals.

(Image: The Star/Faihan Ghani)

“The structure of wages in Malaysia is very low and that is a structural issue, hence we want to ensure that the people will have high wages so that their EPF funds remain high across all races, and this is among the main things we want to do,” said Ahmad Maslan.

Between 2020 to 2022, the government had already allowed a total of four special EPF withdrawals – namely
i-Lestari
,
i-Sinar
,
i-Citra
, and a final
RM10,000 special withdrawal
 – in a bid to assist Malaysians who were struggling financially during the Covid-19 pandemic. Fast forward to today, there are calls to once again allow targeted EPF withdrawals to help the public cope with the rising cost of living, although
these requests have been rejected thus far
.

(Source:
Malay Mail
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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    Maj Chong

    6 months ago

What is the DFM complaining about the T20 monopolising the savings in EPF? It is a mandatory contributions required by law. It is legal money not stolen. They may form the bulk but it is this ‘bulk’ that enable WPF to invest prudently to obtain optimal return.

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Standard Chartered Launches Global Equities Trading Platform, SmartStocks

Standard Chartered Malaysia has launched SmartStocks, a global equities trading platform that enables its customers to trade on various exchanges across seven global markets via a single account. Available online, this platform also allows them to trade using
real-time exchange rates
.

According to Standard Chartered, SmartStocks customers will be able to enjoy better convenience and improved accessibility when trading, given that they can now trade on as many as 12 exchanges – all from a single account. The 12 exchanges include:

Bursa Malaysia

Singapore Exchange (SGX)

Hong Kong Stock Exchange (HKEX)

New York Stock Exchange (NYSE)

NASDAQ

US OTC

BATS Global Markets

Australian Stock Exchange (ASX)

Tokyo Stock Exchange (TSE)

SIX Swiss Exchange

Furthermore, SmartStocks clients will also be able to enjoy minimal brokerage rates, with simple brokerage pricing tiers that are applicable for all markets. Depending on which client segment that you fall into, you may even be entitled to a 0% brokerage rate. Here are the full pricing tiers for your reference:

Client segment
Preferential brokerage rate
Personal
0.10%
Premium
0.08%
Priority
0.05%
Priority Private
0.00%

Standard Chartered customers who wish to tap into SmartStocks will first need to
open a SmartStocks account
 online (at no charge) in a few simple steps:

Log in to your SC Mobile app

Tap on the menu at the top left of your screen, and select SmartStocks

Answer the questions in the Foreign Account Tax Compliance Act (FATCA) and Tax Residence Information section

Submit your application

You will then need to key in a one-time password (OTP) sent to your registered mobile number to complete the application process. Finally, you can start trading once your SmartStocks account is successfully opened.

“Malaysian retail investors are still facing challenges to gain access to global markets, with high transaction fees remaining a huge concern. With SmartStocks, we are breaking down these barriers by making it more convenient and affordable for our clients to diversify into stocks across multiple markets onshore,” said the head of consumer, private and business banking for Standard Chartered Malaysia, Sammeer Sharma.

Sharma further stated that SmartStocks will also amplify the bank’s wealth management proposition and further digitise its banking services for its customers.

(Sources:
Standard Chartered Malaysia
,
The Star
)

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Big Changes Coming To GrabRewards Points: Here’s What You Need To Know

Grab has announced some revisions to its GrabRewards points system. Two major changes are happening: first, GrabRewards Points now never expire as long as you continue using Grab services, and second – and most dreaded of all – there will be a reduction on GrabRewards Points earning for every Ringgit spent.

GrabRewards Points Never Expire

Effective immediately, GrabRewards Points now do not expire as long as you perform one Grab transaction within 3 months of the previous transaction. A Grab transaction is defined as completed Grab rides, GrabFood orders, and GrabPay payments (in-store, online, mobile prepaid top-up, and bill payment).

This is a welcome change for frequent Grab users, as previously, unused points expire at the end of the next Reward Period after they were earned. Grab defines January to June and July to December as the two Rewards Periods.

Essentially, your GrabRewards Points will never expire as long as you keep using Grab services. Conversely,
all
GrabRewards points will expire if you do not make any Grab transaction in three months.

Non-expiring Grab Rewards Points is great, because Grab is also introducing high-ticket value redemptions.

High-Value Redemption on GrabRewards

A new Limited Edition category on the GrabRewards redemption catalogue includes several high-value items designed to reward diehard Grab users. These come in the form of gadgets such as a Samsung 4K TV, Apple AirPods, Dyson Supersonic hair dryer, to other items such as a RM1,000 JD Sports voucher.

Items here require a much higher points outlay than the usual RM5 or RM10 Grab vouchers most users are used to, and appear to have a similar redemption rate as Grab vouchers (about RM0.008 per GrabReward Point).

No Changes To GrabRewards Member Tiers

There will be no changes to how Grab users achieve Member tiers; users will still need to accumulate GrabRewards Points past a specific mark. For Silver Membership, users need to earn at least 200 points, while Gold requires at least 900 points, and Platinum needs a minimum of 3,500 points to unlock.

Maintaining membership tiers also remain the same: users will need to earn the same amount of GrabRewards Points within a single Reward Period.

Reduced Rate Of Earning GrabRewards Points

With the non-expiry of GrabRewards Points, Grab will be reducing the rate at which users can accumulate them. Starting 1 October 2019, Grab will revise the rate of points earned quite significantly.

Platinum members will earn 3 Grab Rewards Points for every RM1 spent on all Grab services (for Grab rides, this is regardless of payment via GrabPay or cash). For GrabPay transactions (in-store payment, online shopping, mobile prepaid credit reloads), every RM1 will earn 9 GrabRewards Points – but only until 31 December 2019.

Yup, that means the days of earning 20x GrabRewards Points will be over come 1 October 2019. Grab’s rewards system has been extremely rewarding mainly because of this, but it looks like once the revision goes live, users will only earn a maximum 9 points per Ringgit spent.

What It Means For Grab Users

Non-expiring points are a big deal – few rewards systems actually offer such a feature. Points that never expire means users can accumulate points over a longer period of time, allowing them to redeem high-ticket items that would have been impossible to achieve in a short time frame.

To put into perspective, few credit card rewards systems offer non-expiring points – and even then, they are still subject to devaluation from time to time.

With the introduction of high-value redemptions, Grab is encouraging users to accumulate points – and therefore further use of Grab’s services, like any rewards system should.

Similarly, the reduced rate of earning GrabRewards Points means it is harder to achieve and maintain Platinum tier membership. A common assumption (which is true!) is that it’s too easy to hit Platinum tier in Grab, and that almost everyone is a Platinum member. Grab has introduced better rewards for Platinum recently with its move of
introducing airport discounts and lounge access
, which looks like a way of pushing its Platinum membership as a more “exclusive” tier.

With the new changes in points earning, a Grab user will need to spend between RM388.89 (9x – GrabPay) to RM1,166.67 (3x – Grab services) to achieve and maintain Platinum status – much higher compared to the current rates of RM175 (20x – GrabPay) to RM583.33 (6x – GrabFood/GrabLuxe).

The introduction of non-expiring points combined with the current points accumulation mechanism would make the entire ecosystem unsustainable – which is likely the main reason why Grab is reducing the multiplier rate for Grab Rewards Points earning.

That said, there’s no hiding from the fact that the lowered earning rate is
painful
. Based on the Platinum tier, you’ll earn 50-75% less points for Grab transactions (3x from 6x-12x), and 55% less points for GrabPay transactions (9x from 20x).

Essentially, you’ll earn points at a much slower rate, but they’ll never expire. While many would understand that the 20x rate that Grab was offering would gradually be reduced, it is nonetheless painful to see such a drastic reduction in the coming six months. As we reach closer to the end of the acquisition phase of e-wallets, we’ll likely see other e-wallets revise their benefits as well to more sustainable models.

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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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BKC Aid To Be Disbursed To Eligible Recipients From 6 Sept 2021

(Image: The Malaysian Reserve)

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz has announced that a total of RM3.1 billion will be paid out to B40 and M40 recipients starting from 6 September 2021 and 9 September 2021, respectively, under Phase 1 of the Bantuan Khas COVID-19 (BKC).

The first phase of payments will benefit 4.4 million households, 1.1 million senior citizens who are single or without a partner, and 4.5 million single individuals. “Overall, this cash assistance initiative is expected to benefit almost 10 million households and individuals with senior citizens and singles with an allocation of RM4.6 billion,” said the finance minister during the latest National Economic Implementation and Strategic Coordination Agency (LAKSANA) report, adding that BKC payments are scheduled to be made in September, November, and December this year.

For context, the BKC aid was
first announced back in June 2021
 during the unveiling of the PEMULIH stimulus package by then Prime Minister Tan Sri Muhyiddin Yassin. It is a direct cash assistance to alleviate the financial burden faced by Malaysians due to the COVID-19 pandemic. The payout amount differs according to income categories, namely hardcore poor, B40, and M40 for both households and single or senior citizens living alone.

Aside from announcing the first phase of the BKC payments, Tengku Zafrul also shared updates regarding other initiatives, such as the
Jaringan Prihatin programme
. Additionally, he highlighted the importance of Budget 2022, which the Ministry of Finance (MoF) is seeking feedback for.

“This may be the country’s most important recovery budget ever, so we must be as inclusive as possible in crafting it. Apart from assistance for the people, Budget 2022 will set the direction of the Malaysian economy post-pandemic in line with the 12th Malaysia Plan which will be tabled in the next Parliament session,” Tengku Zafrul said. Notably, MoF had – for the very first time in Malaysia – prepared a
Pre-Budget 2022 statement
 to increase public confidence in the country’s fiscal management.

“In line with the concept of ‘Keluarga Malaysia’, I will meet as many parties for cross-party discussions including Opposition, non-governmental organisations and various other stakeholders to ensure the presentation of an inclusive budget for all Malaysians,” said Tengku Zafrul. He further added that as of Tuesday, MoF has already carried out engagement sessions with various bodies, including the Khazanah Research Institute, the Institute for Democracy and Economic Affairs and the Association of Private Hospitals of Malaysia.

(Sources:
Malaysian Reserve
 ,
Bernama
)

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PRIHATIN Economic Stimulus Package: Additional Incentives To Assist Businesses And SMEs

Several financial assistance for businesses, small and medium enterprises (SMEs), and micro entrepreneurs have been announced by Prime Minister Tan Sri Muhyiddin Yassin as part of the PRIHATIN Economic Stimulus Package. These include the introduction of an employer consultation service by the Employee Provident Fund (EPF), additional funds for the SME special relief facility and microcredit facility, and the deferment of income tax repayments for all SMEs.

First in line is the introduction of an employer consultation service by the EPF, slated to start on 15 April 2020. It will offer the option to defer or restructure and reschedule employers’ monthly EPF contributions. Once executed, this initiative is expected to help employers save an estimated RM10 billion. It will also benefit more than 480,000 SMEs and businesses, as well as protect more than eight million jobs in the market.

The Government is also making an exemption on the Human Resources Development Fund (HRDF) levies for all sectors for six months starting April 2020. This is expected to ease companies’ cash flow and a total savings of RM440 million.

Additionally, the Prime Minister also announced an extra RM3 billion for the special relief facility provided by Bank Negara Malaysia (BNM) for SMEs. This addition, along with the
existing fund worth RM2 billion
, will give the facility a total of RM5 billion to help SMEs within the country. The interest rate for this special loan is also reduced to 3.5%. It was previously set at 3.75%.

(Image: The Star)

The microcredit facility by Bank Simpanan Nasional (BSN) will also see a fund injection of RM500 million to its current allocation of RM200 million, with the interest rate being lowered from its current 4% to 2%. The eligibility requirement for the facility has been made more lenient; SMEs that have operated for a minimum of 6 months can now apply for the microcredit facility as well. Prior to this, only SMEs with a minimum of one-year operation are allowed to apply. The financing amount is also increased from a maximum of RM50,000 to RM74,000 per entrepreneur – open to micro entrepreneurs from all sectors. These include taxi and bus operators, the creative industry, and online traders.

Lastly, the government is allowing a three-month deferment of income tax instalment repayment for all SMEs, starting from 1 April 2020. This complements a previous announcement, where affected businesses in the tourism industry were allowed to defer their income tax instalment repayments for six months. For those in other affected sectors, you can make amendments to the tax amount income incurred in the third, sixth, and ninth monthly instalments during your business period.

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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Why Did Your SME Business Loan Get Rejected?

Taking your side business full time requires plenty of careful planning, consideration, and of course, capital. There are plenty of ways to come up with your starting funds and one good way to do this is by applying for an SME loan.

And just like any other loan, lenders and banks reserve the right to reject your application. To maximise your chances of getting your business loan approved, it would be good to know the many reasons your application might be denied.

Bad Credit Score

This one sounds quite obvious, but it’s one that can be easily overlooked. Even if your company has been in business for a while, your own personal credit history will still be a factor. The logic is that if your personal credit doesn’t look like it’s managed well, it might be unlikely that you can manage even a small business loan. So to avoid this, it’s best to make sure your score is up to snuff before applying.

No Collateral

Banks and lenders often require you to put down some form of collateral for a small business loan. If you don’t have enough of it or not enough of the right type of collateral, you may get turned down. Of course this won’t be a problem if you look for unsecured loans instead.

Risky Industry

Some industries are considered inherently risky which makes certain banks and lenders less enthused about approving loans for it. Restaurants for example, are known to have a high failure rate, so expect to get more nos than yeses. In such a case, what you can do is look for lenders, grants, or other methods of financing that specifically cater to your industry.

Your Business Isn’t Mature Enough

If your business is just starting out, you may not have built enough credit history to qualify for an SME loan. This is where judicious bookkeeping is important. Make sure you and your vendors regularly update transaction records so you can build a healthy credit record. Lenders and banks will then more likely approve your loan once presented with evidence that your business has enough cash flow to service new commitments.

Poor Paperwork

This is another reason that sounds too superfluous to include, but sadly it’s quite a common theme in rejected SME loan applications. As an applicant, typically you have to make sure that you have all the necessary supporting documents, business plan, three to five years of tax returns, account statements, credit report, and sometimes even legal documents as well. Pay special attention to the differences between SME loan applications and other loan applications so you don’t miss out on anything. There’s nothing worse than being rejected because of carelessness.

Ready to make that leap of faith and embark into the world of franchise business opportunities? If your answer is yes, then here’s a bonus tip to help you get started on your new venture.

Learn more about the benefits of SME banking by giving
RHB SME Banking Portal
 a visit and make use of their Knowledge Center to discover the useful tips and tricks to help you achieve your aspirations as a soon-to-be franchisee. From business loans to current accounts created specifically for the fundamental needs of SME business owners, begin your journey as a franchisee with RHB SME Banking Portal today.

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

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8 Classy Xmas Stocking Fillers that Everyone Will Love for RM50 or less

Hohoho, to all the people who have put off Christmas shopping until the eleventh hour, merry procrastination! If you haven’t started on your gift-planning yet, then you may want to refer to our list of classy, stocking filler Christmas gifts that won’t cause a dent in your savings.

Just to let you know, we have narrowed down the options based off overall weight so that your shipping fee stays reasonable (the last thing you’ll want is fees that’ll cost you an arm and a leg!) as well as whether if it’s easy to purchase in the situation that you don’t feel like making your Christmas buys online, you can still pop by a brick and mortar shop to do your last-minute shopping.

Leather Lanyard Badge

For someone who prefers a gift that marries both practicality and elegance, you can’t go wrong with a leather lanyard. Definitely an ideal Christmas gift if you are not sure who your recipient is as it’s not gender exclusive, comes with a coin change purse and most importantly, as it’s made from soft, durable saffiano leather, expect it to be scratch-proof and water-resistant.

Marimo Aquarium Kit

 Photo courtesy of Apollo Box

Have a friend who is not exactly terrific with plants but would like a touch of nature to brighten up their home? Surprise them with a marimo (a type of algae species) starter kit – perfect especially for busy owners who want a low-maintenance plant. Just remember to inform the gift receiver to change the water every fortnight and avoid exposing it to direct sunlight.

Letter Pens

Some say the art of writing is lost the moment word processors take over the world, rendering the skills for proper penmanship almost obsolete in today’s society. Even so, there’s no reason why you should not give someone a classic letter pen which they can use in their daily life. The
CocoIro
 brand comes in 15 different body colours plus 10 ink colours to choose from, ensuring that you’ll find something that fits your recipient’s preference the most.

Loose Tea

Freshly brewed tea is a welcoming scent that we can never get enough of. The practice of drinking tea originated from southwest China during the Shang dynasty sometime around 2737 BC and it’s many medicinal benefits and exquisite flavour makes it widely sought after even among other cultures. With prices starting from RM10 per 100g, it is a timeless, affordable gift that transcends through all ages, race, gender as well as cultural beliefs.

Mini Gift Sets

 Photo courtesy of MUJI

Personalised kits are always a hit when it comes to gift-giving as it allows the receiver to try out and garner different experiences in tiny, trial-sized products. Break out of the norm by opting for a bag full of treats instead from
MUJI
 with prices starting from RM22.90. While most of the products in the set are intended for single use, the organic cotton bag that it comes with will definitely end up as a fond memory on a longer term.

Sealing Wax Badge Stamp

Ditch the thought that wax seals are only good for sealing letters and wedding invitations. From arts and craft to add a touch of elegance to an otherwise generic-looking packaging, the usefulness of wax seals is undeniable when used right. Don’t forget to add a note of recommendation so that your recipient will know the proper way to use the badge stamp and sealing wax without damaging it.

Read Also :
Creative Gifts to Save Money for Christmas

Crystal USB Drive

Presenting someone with the gift of a USB drive can come across a tacky and non-personal gesture, even if it’s nicely wrapped and placed in a classy, decorative gift box. Counter that perception by giving them a stylish, crystal-decorated USB drive which they can proudly use. Just make sure that the USB drive doesn’t come with unwanted, hidden menaces like viruses and Trojan horses.

Powerbank

Photo courtesy of Xiaomi

Thought of that particular person who is always borrowing someone’s power bank for their own personal use? Time to get them their very own power bank then, and apart from it being a practical and hardy gift with a guaranteed universal appeal, the only catch is, of course, deciding which brand you should opt for although most people swear by brand leaders like
Pineng
 and
Xiaomi
.

With these stocking filler tips in mind, may you stay merry with all the gift-planning and giving without spending too much! For a better shopping experience this Yuletide season, make sure that all your purchases are made with a credit card.

Don’t have one on hand yet but interested to land your hands on one? Check out our
comparison tool
 and find out which credit card gives you the best rewards in accordance with your spending style. Happy seeking!

Are there any other classy, affordable gifts that you would like to recommend to us? Let us know in the comment section below.

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Top 5 Celebrity Debit/Credit Cards

The Stars have got the plastic and they’re especially for you

How many stars can you name who have their own perfume? Fashion label? Headphones? Or jewellery? We bet you can list a few for sure. But did you know that some of your favourite celebs have been making out with the banks and putting their names to debit and credit cards? You didn’t?

The RinggitPlus Team proudly presents the Top 5 Celebrity Debit/Credit Cards:

5. Kim’s Kardashian Kard

Not wholly Kim’s idea, this is one exclusive offer all of the sisters K would like to forget. Launched in a whirlwind of publicity in November 2010, the
Kardashian Kard
 was a Prepaid MasterCard aimed at the teenage market.

With
annual fees from US$99.95 and monthly fees of US$7.95
, this was one piece of plastic a little too fantastic, perhaps a little rich for most high schoolers. The Kard attracted a lot of criticism from the press and government and was Kancelled less than a month after it hit the market.

4. Lil Wayne’s Young Money Card

A Gangsta and his cash are seldom parted. Even pretend hard men like Lil Wayne know
it’s all about the Benjamins
. Which is perhaps why the pint-sized hip hop superstar decided he needed a bit more of
your
 cash and put his name to the Young Money debit card.

A little less expensive than the Kardashian Kard, its fees are still high. Lil Wayne wants
US$3.95 a month from you just for the pleasure of having his card
, and it costs a whopping US$4.95 to top up – that’s right, you have to pay just to give him money!

Being Old Skool, we recommend you download
The Disposable Heroes of HipHoprisy
 and remember a time when it wasn’t all about the B-Bling B-Bling Bling.

3. Bono’s Red Credit Card

The U2 frontman and professional Irish fella might rub folks up the wrong way with his endless pontificating and holier than thou approach to Third World problems (tell us about that Dutch Tax Dodge again Mr Bono Vox) but all credit where it’s due – he does a lot of work for charity.

Bono’s
American Express Red Card
 is part of the Product Red campaign to raise money (and awareness) to combat AIDS in Africa. One per cent of the money customers spend using the credit card goes to the charity.

At last, a worthy entry on our list.

2. Johnny Cash’s Prepaid Debit Card

The celebrity bank card that kicked it all off was, strangely enough, the Johnny Cash Debit Card. Back in 2006 the Man In Black put his name to a MasterCard as
part of a licensing deal
 and created something of a monster.

Well, technically speaking he was actually a few years deceased at the time, so this was more of an opportunistic move on the part of his family estate. We could bore you with puns about Cash-ing in on the rich legacy of this country music superstar, but we’d better not.

Anyway, this is where it all began.

1. Justin Bieber’s Bill My Parents Card

You knew he’d be number one, didn’t you?

Yes, we admit, though not Beliebers, we are nonetheless in awe of the marketing phenomenon and stunned by the sheer chutzpah of pulling off a marketing deal with
BillMyParents.com
 to brand a prepaid debit card.

Though not officially launched yet,
word is the prepaid card charges will be much the same as Lil Wayne’s
 with a US$3.95 monthly fee as a standing charge and costs of up to US$2.95 just to top up.

Interestingly, BillMyParents sells itself as a service that is ‘like a GPS for your teen’s wallet’ and prides its Spendsmart brand as a way to teach the young ‘uns about the value of money. Now reconcile that with use of the Pop World’s premier heartthrob to sell outrageous credit card usage fees. No, we can’t either.

A long time ago the RinggitPlus.com team realised that we’d never be film stars or rock gods and we’re kind of happy we’re not famous in that way. If you want to know the value of your card, don’t look for celebrities, just ask RinggitPlus.com.

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    Anonymous

    9 months ago

I love justin bieieber 😍😍🤣😂✝

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    Anonymous

    9 months ago

    Reply to

        Anonymous

same😍😍😍😍😍😍😍

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You Can Now Test For Covid-19 At Home Via Home Sample Collection Services

(Image: Malay Mail)

For those of you who do not show symptoms for Covid-19, but would like to test for it anyway, you can now do it from the comfort of your home. This comes as the Ministry of Health partnered up with several private hospitals and healthcare facilities to provide sample collection services from homes for Covid-19 testing.

“Currently, sampling is done for those identified as persons under investigation (PUI), but some are concerned and want to get the Covid-19 test but do not meet the PUI criteria. Thus, the MoH has no barriers for those who want to get this test from the private sector,” said the director-general of the Ministry of Health, Datuk Dr Noor Hisham Abdullah. The service is also intended to prevent overcrowding at government health facilities.

As many as 11 private healthcare facilities are currently providing the service, although the number may increase in the future:

Bookdoc

DoctorOnCall

Pantai Premier Pathology Sdn Bhd

Lablink (M) Sdn Bhd (KPJ)

Qualitas Medical Group Sdn Bhd

Gleneagles Kuala Lumpur

Twin Tower Medical Centre KLCC

Pantai Hospital (Kuala Lumpur, Cheras, Klang, and Ayer Keroh)

(Image: Vulcan Post)

Note that the sampling service is subject to charges imposed by the respective facilities, and providers may cover only selected areas.
Qualitas Medical Group
, for instance, currently charges RM700 for it, which includes the lab test, home sample collection, transportation of the sample, and result consultation. Its collection service is also limited only to Klang Valley locations, including Putrajaya, Kajang, Seremban, and Nilai.

To apply for the service, you need to contact the providers and register your information. Once you’ve made the necessary payments, set an appointment with them. Trained private medical and paramedics will then visit you and conduct the test at your preferred location and time. Your test result will be returned within 24 hours, and you can request for expert advice if needed.

The home screening programme was developed by Qualitas Medical Group, in collaboration with DoctorOnCall and Clinipath Malaysia Sdn Bhd.

(Source:
Malay Mail
,
The Edge Markets
)

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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MSIG Partners With Oyen To Launch A Digital Pet Insurance Platform

MSIG Insurance has partnered with Oyen Sdn Bhd to launch a digital insurance platform which allows owners to digitally buy and manage medical insurance policies for their pets.

Oyen’s pet insurance policies offer vet medical benefits of up to RM8,000 for surgical, medication, diagnosis costs, and more. Besides that, Oyen also covers costs for accidental damage or injuries to others as well as burial or cremation costs. Premiums start from only RM25 per month and there are plans for both dogs and cats.

According to Oyen founder and CEO Kevin Hoong, medical costs for pet care can be surprisingly large, and an unexpected and unwelcome expense for many owners. He also added that more people are now working from home and looking increasingly to pets to provide companionship and help manage their stress. Many of these new pet owners are first-timers and often millennials, who are more digitally savvy.

“That is why we thought it was the perfect time to launch this digital pet insurance option in Malaysia,” Kevin said. “We want to lower the barrier to entry and offer a service which can provide pet owners, especially first timers, with some reassurance and peace of mind in these turbulent times.”

MSIG Malaysia CEO Chua Seck Guan said that MSIG is delighted to have been able to work with Oyen to develop this unique digital pet insurance offering. “We hope that our position as one of the world’s top ten general insurers, with over 100 years of operation in Malaysia, will provide reassurance and confidence to Malaysian pet owners looking to use Oyen to cover their pets’ medical expenses,” he said.

You can buy the policy online and get coverage within minutes. Visits with registered vets in Malaysia are claimable and you can submit your claims wholly online as well. Find out more about getting your pet covered on the
Oyen website
.

(Source:
NST
)

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Welcome to the RinggitPlus.com new look

Welcome to the all-new RinggitPlus.com, the

website that gets Malaysians more for their money.

We’ve made a few changes to make your website

faster, easier to use, and more responsive to what’s going on in the world of

Personal Finance.

We’ve also added some new features to help

you save when you’re dealing with the bank. Now you can:

Find and compare Personal Loans

and choose borrowing that suits your budget.

Search for credit cards, debit

cards, and loans and find even more useful information to help you make the

best choice of product.

Find the latest promotions and

discounts to make sure you get the best deal from your bank.

From standing at the whiteboard with no

plan (but a lot of ideas) to re-launching the website the team finished the

project in just six weeks. We’re enormously impressed by this achievement – we

hope you are too.

In fact, we’re so amazed by the resulting performance we believe this is Malaysia’s fastest website!

Underneath the hood we made some big

changes, exchanging Drupal for a Content Management System of our own design. We can now compare and

contrast any product we like, as soon as it comes to market.

Coming up on the product roadmap we have

even more new features to add that will make your life easier, and save you a

ton of money. So please, bookmark us, follow us, or subscribe to our feed.

We’d love to know what you think so please

do drop us a line. We’ll be making a few fine-tuning changes over the next couple of days so do let us know if you find any bugs – send us a Tweet, or message us on Facebook, and tell us how we

can make RinggitPlus.com even better.

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Fave Launches New Buy-Now-Pay-Later Service, Offers 10% Cashback

Fave has announced the launch of its new FavePay Later feature, a buy-now-pay-later (BNPL) payment option that lets users split the bill of their purchases into three instalments. Currently in its pilot phase, the feature has been rolled out to customers in Malaysia and Singapore – available on the Fave app for iPhone users starting from today, and in July 2021 for Android phone users.

With this update, Fave users will be provided with a credit balance that they can tap into for their purchases, and they can then spread out their costs across three interest-free monthly payments – provided that these are made on time. If you are late (by more than seven days), a penalty fee of 1.5% will be incurred, which is to be calculated based on the total late payable amount.

Aside from that, Fave users will also be able to earn up to 10% cashback with every offline and online purchase made via FavePay Later, to be granted upon successful payment of the first instalment. Additionally, Fave clarified that these cashback earnings can only be used to offset initial payments (the first instalment).

In a statement, Fave said that the launch of FavePay Later coincides with a time where cash-strapped consumers are seeking easier access to credit and merchants are looking for new ways to boost their sales. “As one of the leading payment apps in the region, we believe in pushing our boundaries and innovating to create better experiences. Our customers care about flexibility, convenience, and rewards. FavePay later is built with these customers in mind, and it leverages our consumers’ trust in the Fave brand,” said the chief executive officer of Fave, Joel Neoh.

Neoh also commented that it is becoming increasingly critical for merchants to work with partners that have integrated solutions, such as cashless and instalment payments as well as loyalty programmes. These partners – such as Fave – will ultimately take care of all the processing and risk for the merchants.

The new FavePay Later feature can be utilised at over 40,000 merchants – with popular brands including Pandora, Marks & Spencer, Best Denki, Puma, and GNC – and it is expected to benefit more than six million users. Fave said that it is also working on extending the feature to online commerce, and this is expected to come to fruition in the latter half of 2021.

You can find out more about Fave’s new FavePay Later feature on its
FAQ page here
.

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

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Hong Leong Bank Discontinues Fortune Credit Card

Hong Leong Bank has announced that the Fortune Credit Card has been discontinued. Existing Hong Leong Fortune Credit Cardholders, however, can still carry on using the credit card and enjoy its benefits until card expiry.

The Hong Leong Fortune Credit Card offered 1% “real cash awards” for every Ringgit spent on retail spending. It is different from a standard cashback credit card, because this “real cash award” actually earned interest based on Hong Leong Bank’s prevailing 3-month interest rate. On top of that, Hong Leong Bank Fortune credit card holders also received a cash bonus based on their annual spend of up to RM1,800. However, the cash awards are conditional on a minimum monthly spend of RM2,000, and is capped at a maximum of RM50 each billing month.

In its statement released earlier today, Hong Leong stated that the card was no longer issued since 18 December 2018. Other credit cards offered by the bank is unaffected – check out our handy
RinggitPlus credit card comparison tool
 to find out more.

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Jacie Tan

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    Mohd Zakir Salleh

    3 years ago

OMG….hmmmm not happy and more people will terminate their credit card

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3 Ways You Can Financially Prepare For Old Age

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Lisa Ameera Azman

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