Express Bus Tickets To Increase By 10% To 20% For Hari Raya Festivities

(Image: Malay Mail/Hari Anggara)

Pan Malaysia Bus Operators Association has said that the prices of express bus tickets are expected to see an increase of between 10% to 20% just before the Hari Raya holidays, which is set to fall on 3 May 2022.

With this, express bus fares will go up by 10 sen per kilometre above the current rates, starting from 29 April until 8 May 2022. To put this into perspective, bus tickets from Kuala Lumpur (Terminal Bersepadu Selatan (TBS)) to Kota Bharu in Kelantan could increase from RM46.20 to RM50.20, whereas a trip from TBS to Larkin in Johor will cost RM35 instead of the previous RM30.

The president of the association, Ashfar Ali explained that the increase is implemented to cover labour and travel costs. It will also be used for new bus insurance. “A total of 4,700 express buses will operate during this period, carrying 141,000 passengers to destinations nationwide,” he said, adding that there are no plans to increase the number of buses operating during the festive period.

(Image: The Star/Chan Tak Kong)

Finally, Ashfar said that the public should book their bus tickets two week in advance to avoid disappointment, given that
all tickets – including plane and train tickets – are selling fast
. They should also arrive at the bus terminal at least half an hour ahead of time, and always comply with standard operating procedures (SOPs).

(Source:
Free Malaysia Today
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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Youths To Receive One-Off RM150 ePemula Credit Soon

(Image: Malay Mail/Yusof Mat Isa)

Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz has stated that the ePemula programme is set to start soon, although no specific date has been mentioned as of yet.

Under the ePemula programme, youths aged between 18 and 20 years old as well as full-time students enrolled in tertiary education will receive a one-off RM150 e-wallet credit, which will be credited into the e-wallets of their choice. With an allocation of RM300 million, ePemula is expected to benefit more than two million youths, said the Finance Minister.

There’s also no mention yet of the eligible e-wallets in this programme – previously, major e-wallets including BigPay, Boost, GrabPay, ShopeePay, and TNG eWallet were the e-wallet partners supporting the two previous initiatives:
e-Tunai Rakyat
 and
e-Belia
.

The Finance Minister also reminded the younger generation of the importance of practising sound financial management. “To achieve financial well-being, you need to familiarise yourself with the concept of self-control and get acquainted with the world of investments, as well as takaful and insurance plans that will, to some extent, help ensure financial well-being,” he added.

(Image: Malay Mail/Shafwan Zaidon)

Furthermore, he highlighted several other government initiatives under Budget 2022 that also cater to the financial needs of youths. These include the RM150 million Young Entrepreneur Financing Plan by Bank Simpanan Nasional and Agrobank. He also mentioned the provision of a RM900 allowance for students undergoing practical training in the government sector, which has been implemented since 2019.

The
ePemula
 programme was introduced under Budget 2022 to encourage the use of cashless transactions among youths.

(Source:
Bernama
)

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Nur Adilah Ramli

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    Jasreena Kaur Sandhu

    1 year ago

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What Budget 2019 Means for Your Money

At RinggitPlus, we’re particularly excited that the government has announced a more equitable Budget, by providing support to the B40 (and to a certain extent, the M40) income households, even while introducing new and increased taxes and duties. It is clear that the government has had to make some difficult choices, in light of the fiscal situation of the country.

For Consumers

We don’t see the new and increased taxes impacting the B40 and M40, however, they will hit the T20 households group. These include a 5% increase in Real Property Gains Tax (RPGT), a 1% increase in stamp duty on luxury homes, and overseas travel levies.

These taxes have been balanced by the targeted subsidies and handouts announced, which are far more equitable within the B40 group. We see arguably a positive change in
Bantuan Sara Hidup
 (BSH) as it is now increased for lower-income families of 4 or larger, instead of just all families. Along with targeted RON95 petrol subsidies, which were expected, we will see a lightening of burden for the lower-income
rakyat
.

We welcome the restructuring of the EPF and life insurance tax relief and see it as a boon for increasing life insurance coverage in Malaysia. While EPF tax relief has been reduced to RM4,000 from a previous RM6,000, tax relief for life insurance is now separately RM3,000. Individuals earning more than a gross income of RM3,030 monthly and don’t currently have life insurance coverage, will see their EPF tax relief reduced. We think consumers need to be aware of this and should act on subscribing to life insurance to take full advantage of the combined RM7,000 EPF and life insurance tax relief, or alternatively transfer the relief to
Skim Simpanan Pendidikan Nasional
 (SSPN) which has been increased to RM8,000 from RM6,000.

We are excited to see an increased focus and commitment from the government to address the alarming numbers of uninsured
rakyat
 within the B40 group. We are looking forward to see how the
Dana Perlindungan Kesihatan Nasional B40
, free coverage for four critical illnesses play out and how we can help in the process. With that said, consumers need to be aware that this appears not to be life insurance and should seek that out for themselves.

Although the government is taking the initiative to improve the standard of living of the B40 and M40 groups, consumers in all segments should be more mindful of their spending habits. It is still essential for Malaysians to understand the importance of personal money management and how they can maximise their cash as the country continues to progress.

With the current Budget, we see stringent reviewing and renegotiating of our country’s projects, commitments and finances, which is a habit that should be practiced by consumers with their own personal finances.

For Industry

The other taxes announced are unsurprising as they are unlikely to face significant resistance from most folks. For example, the tax on sugary drinks has been imposed to help curb obesity in the country, while generating additional revenue. We think the digital foreign services tax will ensure a level playing field and foster healthier competition with local digital services players. The increase in taxes and duties for the gambling industry will definitely help generate additional revenue to develop the country on other aspects.

With
Pelan Tindakan Dasar Industry 4.0
, the government is definitely looking forward to an innovative and highly digitised industry. Being one of the players in the fintech space, we are excited and ready to work closely with the government in the digital business space.

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LHDN: E-Invoicing To Be Implemented In Stages Starting From 2024

(Image: Bernama)

The Inland Revenue Board (LHDN) has revealed that the electronic invoicing (e-invoicing) system will be implemented in stages starting from next year. In the meantime, the board is in the midst of preparing and developing the necessary user requirements and solutions needed to facilitate the process.

In a statement, LHDN shared that it will kickstart the initiative via a pilot phase in January 2024, with the cooperation of selected companies, although those who wish to be onboarded earlier may volunteer as well. This will then be followed by the mandatory adoption of the e-invoicing system by all companies in stages, based on their annual revenue, as indicated below:

Implementation timeline
Participants
January 2024
– Pilot phase, with cooperation of selected companies
– Volunteers are invited as well
June 2024 (Phase 1)
Mandatory adoption for companies with a turnover of RM100 million and above
January 2025 (Phase 2)
Mandatory adoption for companies with a turnover of RM50 million and above
January 2026 (Phase 3)
Mandatory adoption for companies with a turnover of RM25 million and above
January 2027 (Phase 4)
Mandatory adoption for all companies

“We are now at a very important stage of this initiative in preparing for the user requirement of the e-invoicing system. For this, we need to obtain feedback from all the relevant stakeholders so that the developed system will be able to meet their needs,” said the chief executive officer of LHDN, Datuk Dr Mohd Nizom Sairi, adding that the board will conduct separate engagement sessions with different quarters for this purpose.

Datuk Nizom also highlighted the various benefits that can be reaped via the adoption of e-invoicing, chief of which is to help the government tackle the shadow economy and reduce tax evasion. To illustrate the significance of this, Datuk Nizom said that Malaysia’s shadow economy is estimated to stand at RM300 billion back in 2019 – which translates to 18% of Malaysia’s gross domestic product (GDP).

Aside from the government, businesses and individuals can also benefit from better record keeping processes and reduced tax compliance costs. For instance, they may only need to keep physical copies of their receipts and invoices for a shorter period of time, instead of the current seven years. The tax filing process may be easier too, as LHDN can provide taxpayers with pre-filled income tax forms based on the data that have been collected.

“We believe that the introduction of e-invoicing is something positive that will increase the efficiency of businesses, provide cost savings in doing business, and strengthen the tax system in our country by making it fairer and more equitable,” said Datuk Nizom.

(Image: Malay Mail/Ahmad Zamzahuri)

The plan to adopt e-invoicing was initially proposed during the tabling of the original Budget 2023 by then Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz in October 2022. LHDN then confirmed in March that it is working to introduce the system by early next year, but did not share a detailed timeline back then.

Briefly, e-invoicing is a form of electronic billing, where the digital documents or data of transactions will be uploaded onto a platform managed by LHDN. With this, LHDN will have clear records of transactions carried out by taxpayers.

(Sources:
LHDN
,
The Edge Markets
)

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Finance Ministry: Government Examining Ways To Increase Tax Collection And Address Leakage

(Image: The Sun Daily)

The Finance Ministry has said that the government is examining methods that can help to increase tax revenue through better tax compliance. This was revealed in the maiden Pre-Budget 2022 statement that was released ahead of the tabling of the actual national budget.

In the statement, the Finance Ministry commented that this move is necessary as the tax collected from taxpayers in 2021 has been lower than expected. Specifically, the government had targeted to collect an estimated RM162.1 billion worth of taxes for the entire YA2021, including RM120 billion of direct taxes and RM42.1 billion of indirect taxes. However, as of July 2021, it has only collected RM67.4 billion in direct tax and RM24.8 billion in indirect tax. The government also foresaw a further decrease in the amount due to the Covid-19 pandemic.

In response to this, the ministry highlighted several new policies that it is looking to carry out to boost the government coffers and to reduce leakages. This is on top of the various strategies that it has already undertook to counter this problem.

One of the new recommended strategies that was brought up is the implementation of the Special Voluntary Disclosure Programme (SVDP) for indirect taxes administered by the Royal Malaysian Customs Department. Under this programme, taxpayers are encouraged to voluntarily declare any unpaid, underestimated, or erroneously reported tax to the Customs.

On top of the SVDP, the Finance Ministry said that it is also looking into the introduction of a Tax Compliance Certificate as a pre-condition for those who wish to bid for government contracts. Additionally, the government may also consider implementing the Tax Identification Number (TIN) and reviewing any tax treatment that is noted to carry possibilities of revenue leakage or harmful practices.

The government further said it is looking to address cross-border tax evasion by supporting the Base Erosion and Profit Shifting Action Plan (BEPS) initiative – which was launched by the Organisation for Economic Cooperation and Development’s (OECD). For this purpose, the Malaysian government is studying proposals under the initiative’s Pillar One and Pillar Two to ensure that Malaysia has the right to tax digital economy activities.

(Image: Malay Mail/Ahmad Zamzahuri)

“Pillar One focuses on the determination of a country’s tax rights based on the nexus approach. Meanwhile, Pillar Two will introduce a minimum effective tax rate globally to ensure taxes are not the only key element in attracting foreign direct investment, and this can also address the possibility of aggressive tax planning by multinational enterprises (MNEs),” explained the Finance Ministry in the statement.

Meanwhile, existing measures that have already been announced thus far to increase the government’s revenue collection include imposing excise duty on electronic and non-electronic cigarette devices and expanding tourism tax levy to cover accommodation booked through online platform providers. The government has also carried out efforts to address the problem of revenue leakage, such as introducing tighter controls on the licencing and importation of cigarettes and tobacco products.

Additionally, in a bid to tackle revenue leakages through the smuggling of high-duty goods (estimated to be worth RM5 billion), the Finance Ministry has also chaired a multi-agency working group that formulated strategies to curb smuggling. This group was also bolstered by the participation of the Malaysian Anti-Corruption Commission and the National Financial Crime Prevention Centre.

(Image: Reuters)

“In addition, the government has streamlined the definition of related companies for the purpose of group relief claims, imposed penalties for failure to provide Transfer Pricing documents and stipulated the requirement for taxpayers to settle taxes before commencing any proceedings against the government/Director General of Inland Revenue,” said the ministry.

Prior to this, the government had commented that it
will study all types of taxes
 to help fill the country’s coffers, although it also noted that the timing in doing so is extremely important. Several economists, too, have called for
tax-related solutions
 in a bid to steer Malaysia away from another economic downturn in the future.

(Sources:
Malay Mail
,
The Sun Daily
)

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What is Your Spending Style and How Does it Affect You?

When describing how a person spends their money you may be tempted to say “oh they’re quite stingy”, or “she’s quite wasteful”. But in fact there are many more ways to describe somebody’s style of spending than these two extremes.

Knowing the mode of thinking that drives your method of spending can help you figure out the most optimal way to manage your expenses and make your budget work for you. Here are several ways of defining your particular spending style:

Reserved

This describes the kind of people who would bring their own chicken egg to the kuay teow stall, pinch pennies until they bleed, and calculates the GST before even sitting down at a restaurant. You’re very frugal, budget-conscience, and maybe a little bit stingy sometimes.

Tips for Reserved Spenders

While you may rarely have the problem of not enough money, your miserly ways may negatively affect the people around you. Try to be loose with your approach to spending when it involves others and remember to enjoy the cash you earn once in a while. Money is only good when it’s spent anyway, right?

Thoughtful

Most RinggitPlus readers would fall under this category. You’re mindful of your spending habits and are realistic about your income and expenses. You do the math when it makes sense to and ask yourself important questions before putting money into something.

Tips for Thoughtful Spenders

Thinking before acting on purchases saves you money and is the best way to go. However, keep in mind that time and money wasted on overthinking is not good either. But if you’re already thoughtful about how you think about money, you probably know this already.

Incentive-Based

If your spending is often motivated by low prices, good deals, special offers and promotions, then you’re an incentive-based spender. Perhaps you charge almost all your purchases to rewards cards, buy an item because you get another free or you really go crazy during a sale.

Tips for Incentive-Based Spenders

There’s nothing wrong with being an incentive-based spender–as long as you are buying things you actually need and not spending money just because you’ll be saving more. Remember, you save even more during sales if you don’t buy anything at all.

Influential

Do you buy the latest gadgets and devices as soon as they hit the store so you can be the first of your friends to own one? If your spending is motivated by status, labels and brand names, your style is “influential”. To you, a luxury brand is an indication of quality and a good investment – even if it is just an “image” thing.

Tips for Influential Spenders

It’s not wrong to buy things to make yourself feel better among your peers, but make sure that you’re getting actual practical use of the things you buy. More importantly, don’t get into debt just to look cool, and do thorough research before you drop half your salary on something shiny.

<a href=”
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Passive

Spending money isn’t an issue with you – but man do you hate shopping. Because of this, you’re willing to pay almost any amount rather than look around for comparisons or otherwise search for a better deal. You’re motivated by a combination of laziness and a desire not to waste time. You might pay higher prices just for convenience.

Tips for Passive Spenders

While convenience is a fair thing to pay for, don’t let your laziness take over all your spending decisions. Often it’s really worthwhile to compare prices and find the best value for your money. If that sounds like too much for you still, maybe you can pay someone to do it for you instead?

Impulse

Sort of the opposite of the thoughtful spender, your spending habits are driven by impulse. You tend to wait until the last minute, have no set plan or list when you go to a store and you have a tendency towards impatience and a need for instant gratification.

Tips for Impulse Spenders

Lack of impulse control often manifests in frequent buyer’s remorse, closets filled with unused items and money wasted on unnecessary purchases. To combat this, pair up with a thoughtful spender when you go out shopping or spend some time making a list and try your best to stick just to the list. It’s really for your own good.

Obsessive

The term “shopaholic” was invented for you. As opposed to the passive spender, you love shopping. It isn’t just a necessity for you, it’s a hobby. A very expensive hobby because you’re not content with just browsing or window shopping. Once in the stores, you feel compelled to buy.

Tips for Obsessive Spenders

For you, shopping can go from being a hobby to being a lifestyle and eventually to being an addiction. In the worst cases, you may need some serious professional help. If you return from shopping too often with way more than you expected to spend, perhaps you should leave the weekly shopping to somebody more responsible.

Surplus-Seeking

Stockpiling and buying in bulk are valid money saving strategies in times of need, but this strategy is how you operate all the time. You tend to buy the longest-lasting items, in the largest amounts possible, and you store them in your house forever, because you never know what’s going to happen.

Tips for Surplus-Seeking Spenders

While this method is great for saving money, it’s also important to consider real-life use cases for the items you bought. Sure, 10 boxes of soy sauce can maybe save you hundreds of Ringgit, but what are the chances you’ll be using all of them before they all expire? It’s okay to buy some extra things if it saves you money, but cluttered closets, jam-packed pantries and a glutted store room in preparation for the zombie apocalypse is probably overkill–especially if you have more credit card debt than available space in your house.

Do you recognise any of these spending styles as your own? Maybe you’re a combination of two or three? Or maybe a completely new kind of spender altogether? In any case, remember to check out our
promotions page to find the top promos we curated just for you
. Don’t forget to share your thoughts and ideas with us in the comments section down below!

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Economist: Raise EPF Full Withdrawal Age To 60

(Image: The Star)

Economist Dr Yeah Kim Leng has proposed for the Employees Provident Fund (EPF) to extend the age for full withdrawal of members’ retirement funds from 55 years old to 60 years old, in line with the current retirement age. This is in a bid to increase the longevity of their funds, allowing them to sustain themselves more comfortably in their golden years.

Aside from that, Dr Yeah – who is also an economics professor at the Sunway University – suggested as well that the government can consider gradually increasing the retirement age from the current 60 years old to 62 years old, and then to 65 years old. This accounts for the extended life expectancy of Malaysians, attributed to better healthcare and healthier lifestyle.

“There is also a need to promote productivity and reskilling for those who have little EPF savings to help them earn a higher salary and increase their savings. Workplaces must also be conducive to re-employing senior citizens and retirees to help them earn an income. It is also important for people to learn financial literacy at a younger age to stop them from falling into the poverty trap later in life,” Dr Yeah further stated.

(Image: Utusan Malaysia)

The expert also urged those who are aged 40 and above – or are close to retirement – to take the initiative to learn more about income generating opportunities. They can then tap into these opportunities to gain some income, thereby avoiding old-age poverty.

Dr Yeah also said that if the government fails to take action soon, its social spending is set to increase in the future, with more Malaysians reaching their retirement age without adequate savings to sustain themselves. This is especially as many contributors have depleted their EPF savings through the four rounds of special withdrawals allowed during the Covid-19 pandemic.

“If contributors made the withdrawals for investment purposes, then they would be earning passive income. But if they used the withdrawals for consumption purposes, then it could lead to old-age poverty as they would not have enough savings to sustain themselves. Hence the government will have to support these people if they are facing poverty, and that will lead to an increase in government spending, which is already going up due to the ageing population and poor health among many caused by non-communicable diseases,” said Dr Yeah.

Concurring with Dr Yeah’s observations, financial planning director of Finwealth Management, Felix Neoh also said that
Malaysian wages need to be raised to help tackle the issue as well
. He commented that this is because the people’s purchasing power has long been outpaced by real inflation, and the public is now forced to spend more for daily necessities. In turn, this leaves them will less to save for retirement.

“Reskilling to take on higher value-added jobs with a higher salary, and delayed retirement or going into semi-retirement, such as working shorter hours and at a correspondingly lower salary after the official retirement age to delay the drawdown in retirement are some options,” said Neoh.

Dr Yeah’s and Neoh’s concerns regarding the critical state of members’ EPF savings have also been highlighted by Prime Minister Datuk Seri Anwar Ibrahim previously. He noted earlier this month that an estimated
81% of EPF members will not have sufficient savings
 to live above the poverty line after their retirement.

(Source:
The Sun Daily
)

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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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    Anonymous

    4 months ago

Dumb suggestion!

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    klg

    4 months ago

Not everyone like you uncle

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Apple Unveils New Products In First 2021 Launch Event, Including iMac And AirTag

Apple has unveiled several new products during its first product launch event of 2021 yesterday, including a new iMac, an upgraded iPad Pro with a new chip, as well as the long-rumoured AirTag – among others. Here are some key highlights from the “Spring Loaded” event that you can look out for over the next few months.

iMac

Price: Starting from RM5,599

The new iMac – which features a slimmer body design compared to its predecessors, with a thickness of just 11.5mm – will be powered by the high-performing M1 processor, and it comes with a 24-inch 4.5K Retina display. On top of that, it is also fitted with various other top-quality parts from Apple, such as a 1080p FaceTime HD camera, a sound system with six speakers and spatial audio support for Dolby Atmos videos, as well as a new Magic Keyboard with Touch ID sensor.

You can look forward to these new iMacs in a range of seven different colours: green, yellow, orange, pink, purple, blue, and the usual silver. Apple has also revealed the prices for these desktops with different specs:

iMac (7-core GPU, 256GB SSD): RM5,599 onwards

iMac (8-core GPU, 256GB SSD): RM6,449 onwards

iMac (8-core GPU, 512GB SSD): RM7,249 onwards

You can also upgrade the machines with up to 16GB of unified memory, as well as up to 1TB or 2TB SSD. This will, however, depend on the specific variant.

iPad Pro

Price: Starting from RM3,499

Apple has also equipped the upgraded iPad Pro with its M1 chip, thereby vastly expanding its functions to rival those of desktop systems. Additionally, it boasts a new 12MP wide angle front-facing camera, along with a function called Centre Stage. This pairing will allow you to capture images with a wider scope, and also enables the iPod Pro to automatically adjust the scope according to certain stimuli – such as panning in your direction if it detects you moving out of the camera frame.

Aside from that, there are additional upgrades provided, such as Thunderbolt support for the USB-C port, including a 5G variant, as well as a battery with a longer lifespan. The iPad Pro comes in two sizes – 11 inch and 12.9 inch – with five storage capacities. They are priced as such:

iPad Pro storage capacity

11 inch

12.9 inch

128GB

RM3,499

RM4,799

256GB

RM3,949

RM5,249

512GB

RM4,849

RM6,149

1TB

RM6,649

RM7,949

2TB

RM8,449

RM9,749

Note that you’ll need to top up an extra RM650 if you wish to get the 5G variant of the new iPad Pro.

AirTag

Price: RM149

Along with the upgraded iMac and iPad Pro, Apple also finally revealed the AirTag – a product which has been hinted at for some time. Essentially a tracking accessory, it is to be paired with the tech giant’s Find My feature, and can help users to locate missing devices through the app using Ultra-Wideband (UWB), Bluetooth, and NFC technology.

Apple said that the AirTag – which is powered by the Apple U1 chip – has a battery with a lifespan of more than one year (with daily use), along with various other security features. For instance, individuals who find a lost AirTag will be able to contact the owner using contact details provided to them via website (provided the owner enables their contact details for this purpose). Additionally, the Bluetooth signal identifiers on the AirTag are also designed to function in a way that the tracking gadget avoids unwanted location tracking.

According to Apple, the AirTag will be priced at RM149.

Apple TV

Price: Starting from RM849

Apple is also rolling out a new Apple TV 4K, which boasts an interesting feature called Colour Balance – allowing you to calibrate the colour of your TV using an iPhone. In addition to that, there is also a new Apple TV Remote that is minimalist in design with its few buttons. Most of the remote’s functions can be accessed using a circular clickpad, which you need to press on or swipe at to do so.

The Apple TV 4K is available with two storage capacities: 32GB and 64GB, priced at RM849 and RM949, respectively. The Apple TV Remote is also available as a standalone product, which you can get at RM229. Additionally, there is the option to get the existing Apple TV HD with the new remote for RM719.

***

Aside from the above new products, Apple also announced a few other updates during the launch, including an upcoming purple iPhone 12 and iPhone 12 mini and podcast subscriptions. Do also note that although the local pricing for the above new products have been revealed, Apple has yet to share an official release date for them as of yet. We expect these to be announced soon.

(Source:
Apple
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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TM Offers Unlimited Unifi Basic Quota And Increases Throttle Speed

TM has recently increased the throttle speed of its Unifi Basic plan, whereby customers’ Internet speed would be throttled once they hit the quota limit. The throttle speed was originally set at 128kbps but upgraded to 512kbps on 9 January.

Unifi users can now purchase Unifi Basic add-on passes starting from RM10 to RM50 to skip the wait for their quotas to be refreshed. These passes are available at any time within the one billing cycle with quotas ranged from 1GB to unlimited during the weekend.

The Unifi Basic Plan was originally introduced for the
B40 household
 in July 2018 but later
made available nationwide
. It is the most affordable plan out of the two Unifi Home plans. The Unifi Basic plan is currently charged at RM79 per month only.

In conjunction with the New Year and Chinese New Year, TM uncapped the speed for the Unifi Basic plan for consumers to enjoy at a higher speed rate. However, the maximum speed of the plan is currently not revealed by the company. Apart from that, TM has also extended their unlimited Unifi Basic plan quota from end of 2018 till 15 February 2019. The normal quotas for the Unifi Basic plan will be returning on 16 February with 30Mbps and 60GB quota.

The Unifi Basic plan add-ons can be purchased on the
Unifi self-care website
 or the care@Unifi app on
Google Play
 and
Apple App Store
.

(Source:
Lowyat.NET
,
Soyacincau
)

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BNM Celebrates LFSA’s 25th Anniversary With Issuance Of Two Commemorative Coins

Bank Negara Malaysia (BNM) has announced that it is issuing two commemorative coins in conjunction with the 25
th
 anniversary of the Labuan Financial Services Authority (LFSA). The coins – consisting of the coloured sterling silver with sapphire stone commemorative coin (proof) and the Nordic gold brilliant uncirculated (BU) commemorative coin – were launched by Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.

According to BNM’s statement, the coloured sterling silver with sapphire stone commemorative coin marks the central bank’s first time in issuing numismatic coins with sapphire stone inserts. It also noted that the coin – which weighs 31 grammes and is made of sterling silver with 92.5% purity – will have a face value of RM10. Only 1,000 pieces will be made available for sale, with each priced at RM286.

The Nordic gold BU commemorative coin, on the other hand, is made of copper and several other metals, coming in at a weight of 8.5 grammes. It has a face value of RM1, and will be sold at RM13.20 per piece – with 10,000 pieces available.

In terms of design, the obverse side of the coins will carry the text “Labuan Financial Services Authority” on the left circumference, and “1996-2021” on the right circumference. This surface will also feature a diamond-cut 3D design of Labuan, with a sapphire stone insert pinpointing the approximate location of the Labuan Financial Park (where the LFSA is headquartered) on the sterling silver coin.

BNM further explained that this geographic representation is a nod to the “multi-faceted landscape of the Labuan International Business and Financial Centre (Labuan IBFC) and its significance to the Labuan economy”. Additionally, the design acknowledges LFSA’s important role as a regulatory body enforcing IBFC laws.

On the reverse side, meanwhile, both coins will see “Bank Negara Malaysia” stamped on the top circumference as the issuing authority. The official logo for LFSA’s 25
th
 anniversary (LFSA25) will also be featured at the centre of the coin, followed by the respective face value of each coin at the bottom. Finally, the official tagline for LFSA25 – “A Journey of Dedication, Determination, and Dynamism” – is inscribed at the bottom circumference.

Interested numismatists can purchase both limited edition coins individually, but if they wish to, it is also possible to get them as a set (one piece of each coin) at the price of RM341, inclusive of 10% sales and service tax. A total of 1,000 sets are available for purchase.

“To provide a fair opportunity for members of the public to buy these limited edition coins, there will be a purchase limit of a set of two, one coloured sterling silver coin with a sapphire stone (proof), and up to five Nordic gold BU coins per person,” BNM also said.

The central bank further stated that the public can
place their orders
 starting from 14 February 2022 (10am) to 25 February 2022 (11pm). “Members of the public are advised to place their orders through the Bank Negara Malaysia online system and not with any other party or unauthorised ordering facility,” it said, adding that balloting will be done in the event of oversubscription.

(Source:
BNM
)

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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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Provide Purified, Pollutant-Free Air To Your Loved Ones For Less Than RM100/month

Having the responsibility to care for our loved ones is no easy task. Regardless of our dependents’ age, whether they be in their golden years or early childhood, caretakers have to plan ahead of time, accommodate individual needs, make contingency plans, and manage crises whenever a situation calls for them.

At home, parents typically bear the responsibility of preparing meals, planning vacations, and ensuring the house is in order, complete with everything we need. The Covid-19 pandemic made many of us rethink the importance of our health and as a result,
air purifiers have become a sought-after household product
.

There are plenty of air purifiers available in the market offering all sorts of features catered to different groups of people. One that has been lab-tested, has technologically-advanced features, is suitable for families, and looks visually pleasing, is All Clean Virus Fit by South Korea’s SK magic.

Providing Carefully Purified Air At Home

According to Dr Amanda, a certified Medical Officer of Primary Care Services, breathing clean air is critical for human survival and so the air we breathe must be pure to nourish our lungs, blood, as well as the rest of our organs. Indoor air is evidently five to ten times worse than outdoor air, based on
a study conducted by WHO
.

Indoor pollution can be even deadlier as it affects the everyday environment where many of us spend most of our time, Dr Amanda adds. She also mentioned that among the pollutants found inside homes, offices, restaurants, and leisure facilities are carbon monoxide, volatile organic compounds, household chemicals (from household cleaners or cosmetics), and even tobacco smoke.

Furthermore, having pets might increase the chances of bacteria being carried around the house and with Covid-19 continuously affecting Malaysians, our health remains a concern.

As we prepare for the endemic, Malaysians’ continuous effort to combat Covid-19 still maintains at a steady pace. Having clean indoor air is crucial, even at home. All Clean Virus Fit is built with UV Arc Core Sterilisation technology which helps to sterilise the filtered air and at the same time, eliminate airborne virus, bacteria, and mould.

The air purifier is equipped with an 8 stage All-in-One Care Filter with the ability to remove 99.99% ultrafine dust, restrains harmful pollutants, and even unpleasant odours.

On SK magic’s
website
, you can find a number of lab tests done in different institutes shows the effectiveness and performance of All Clean Virus Fit against Coronavirus, airborne black mold, airborne bacteria, and more. It is also recognised as a health equipment and medical device by the U.S. Food and Drug Administration (USFDA) that could eliminate 99.99% of Covid-19 viruses
including the Delta variant
 and common indoor air pollutants.

Apart from the 8-stage All-in-One Care Filter, SK magic’s All Clean Virus Fit air purifier also comes complete with a Double Antibacterial Filter that enhances filter hygiene.

User and Family-Friendly

While having a capable home appliance is important, it’s equally critical that the item is easy to operate. All Clean Virus Fit has a simple and intuitive display encompassing complete air quality management with ultrafine dust level indicator and 4-colour LED display.

The two smart sensors on the All Clean Virus Fit help caretakers monitor air quality in real-time. The gas sensor detects harmful gas levels while the PM1.0 dust sensor measures PM10, 2.5, 1.0 ultrafine dust particles. Together, these sensors help caretakers detect ultrafine dust and harmful gases instantly for effective indoor air quality.

There is also no need to point the air purifier in a certain direction as the All Clean Virus Fit cleans 360⁰ and has floor suction capabilities. That means the chances of dust and debris left behind by children and pets would significantly decrease!

On top of that, its UV Arc Core Sterilisation feature enables the elimination of remaining harmful viruses in an indoor area with a 5-second touch. The innovative structure is detachable and washable so when it’s time to clean, simply detach to give the interior fan and vent a thorough washing.

Sleek Design That Elevates Any Room

The All Clean Virus Fit comes in a minimal and harmonious design that blends seamlessly into most interior spaces. The simplistic and practical outlook makes the user experience straightforward. In fact, the distinctive design is recognised at the PIN UP Design Awards, an event organised by the Korea Association of Industrial Designers (KAID).

Besides its clean design, the All Clean Virus Fit is embellished with a mood lamp that turns on when UV sterilisation is activated. So even when the air purifier is doing its job, it adds a little extra touch to the interior of a room.

Accentuated with a sleek cream beige grainy finish, the design is also created with the environment in mind. Eco-conscious folks would love that All Clean Virus Fit is created with recycled ABS plastics. This recycled material is what gives the air purifier its premium terrazzo effect. To add on, the use of All Clean Virus Fit helps restore the environment by reducing greenhouse gas emissions by 14%.

***

SK magic’s All Clean Virus Fit offers a comprehensive purification system that eliminates harmful pollutants that can keep your family protected. The lab-tested air purifier sports a pleasant aesthetic and is made from recyclable materials. If a family member has skin allergies, poor respiratory health, or is sensitive to airborne bacteria and poor ventilation, SK magic’s All Clean Virus Fit air purifying technology can benefit them greatly.

The All Clean Virus Fit air purifier will be available for rent for as low as RM99/month while stock lasts. For more information on All Clean Virus Fit by SK magic,
visit their website
. Alternatively, you also check out their
Facebook
,
Instagram
, or
Youtube
 channel.

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Lisa Ameera Azman

Lisa Ameera Azman

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Bursa Malaysia Launches Free E-Learning Platform For Retail Investors, Bursa Academy

Bursa Malaysia has launched Bursa Academy, an e-learning platform intended to help educate retail investors across the securities, derivatives, and Islamic capital markets. In the long run, it aims to become a reliable source in promoting investor education and boosting the country’s financial literacy.

The comprehensive one-stop e-learning platform is free to access, and employs a mix of knowledge sessions and interactive gamification to coach its users. The learning materials offered cater to investors at all levels, whether you’re a beginner or an experienced investor looking to upskill yourself. The site also has a My Folder tab for your personal use, where you can bookmark your interests and learning materials.

Additionally,
Bursa Academy
 is designed to be a multilingual platform, although it is currently available only in Bahasa Malaysia and English. Its Mandarin version is scheduled to be introduced in the next quarter.

(Image: The Malaysian Reserve)

“We place great importance in financial education and are continuously working to provide the tools and foundation that can help investors make informed decisions on investments. Today’s financial markets are getting increasingly complex so the usage of digital technology to disseminate information more effectively to a wider section of the public is essential,” said the chief executive officer of Bursa Malaysia, Datuk Muhamad Umar Swift.

Aside from Bursa Academy, Bursa Malaysia had also previously launched a one-of-a-kind virtual education platform called the
Mirror, Learn, and Trade (MLT) programme
 to educate investors in the market by offering a mirror market of the Kuala Lumpur Stock Exchange where users can “trade” using virtual cash.

(Source:
Malay Mail
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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TNG eWallet Enables DuitNow Transfer, Allows Fund Transfer From Other Bank Accounts

Touch ‘n Go (TNG) eWallet has now enabled the DuitNow Transfer function, making it the first e-wallet in Malaysia that allows you to receive funds from online banking platforms or other e-wallets to your TNG eWallet by entering either your DuitNow ID or your TNG eWallet account number.

DuitNow Transfer is a feature that is offered as part of the DuitNow ecosystem, which consists of 32 participating banks and e-money mobile apps. It is a real-time online fund transfer service that lets you transfer and receive funds by entering your DuitNow ID instead of an account number. In the case of TNG eWallet, DuitNow will assign a unique account number that is linked to your TNG eWallet if your mobile number has already been registered with another account.

This new feature will require users to link their TNG eWallet account with DuitNow, which can be seen from the screenshots above. Once the linking process is completed, users can now receive funds from participating banks and e-wallets via DuitNow Transfer.

For now, TNG eWallet has only enabled receiving of funds via DuitNow Transfer, and not yet transferring funds out of TNG eWallet – this feature is “coming soon”, according to TNG’s FAQ.

Alternatively, it is also possible for you to receive funds through DuitNow by sharing your TNG eWallet account number, which can be found either in your account profile or the “Receive” tab (accessed via “Transfer” from the main page of the app). This transfer method can be utilised by users who have yet to verify their TNG eWallet accounts.

As these transfers are done in real time, recipients will receive their funds almost immediately upon successful transaction – and at zero fees. TNG further explained in its FAQ that there is no specified maximum limit to the funds that you can receive via DuitNow Transfer. Instead, you are restricted by your existing wallet limit – which is, in turn, decided by your current e-wallet tier.

TNG eWallet has three tiers with differing e-wallet sizes, namely Lite (RM200), Pro (RM5,000), and Premium (RM20,000). The
Premium tier
 was just recently introduced in early August 2021, offering not just an increased e-wallet size, but also a higher annual transaction limit.

For more information, TNG Digital has a handy
DuitNow Transfer FAQ
.

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Alex Cheong Pui Yin

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

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Subscribe To Own By Flux: Finance Your Car With The Lowest Upfront Fees

Footing the downpayment when buying a car via a car loan can be a pain. A downpayment on a brand-new Honda Jazz makes you part with RM8,700 in one go, whereas for a BMW 530i M Sport, you would have to put down a whopping RM37,280 upfront. Even if you can afford these amounts, car loans and their downpayments can have a huge impact on your cashflow – this is especially true in these challenging times.

This is why Flux, Malaysia’s very own car subscription service, offers a flexible way to buy a car through its latest product, Subscribe to Own. With just one simple subscription plan, you can save up to 60% upfront over a car loan downpayment with Subscribe to Own. Whether it’s a Honda or a BMW – buying your dream car is now more affordable upfront with Flux, instead of a hefty downpayment.

Flux

An All-in-One Car Subscription Service

Flux is an all-in-one monthly car subscription service, offering all the benefits of having your dream car without the drawbacks. With an all-inclusive service, Flux covers road tax and insurance renewals, maintenance, and wear and tear. Now with Subscribe to Own, you can even purchase the car at the end of your subscription.

No car loans. No downpayment. No interest. No problems.

Here’s how Flux’s new Subscribe to Own plan works:

Subscribe to Own by Flux allows you to drive your perfect car with the lowest upfront costs compared to a car loan. Best of all, you have the option to own the car outright. With all these and the value-added perks of a Flux subscription, Subscribe to Own is the best alternative to a purchasing your car with a car loan.

For more information on how to finance your new car via Flux’s Subscribe to Own plan, visit
www.driveflux.com
.

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    Simon look

    3 years ago

Needed to know more,, I m in sales,some clients in ”tis situation,,

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How To Choose The Best Personal Loan

When it comes to applying for personal loans in Malaysia, you definitely have a wide range to choose from. About 70% of personal financing offered by banks in Malaysia fall under Islamic banking too, so there’s no shortage of
Syariah-compliant personal financing plans
 that you can apply for as well. But with so many choices, how do you determine the “good” ones to apply for?

Whether it’s for an emergency or to pay for a planned expense, be aware of the important factors when choosing which personal loan to get.

Know How Personal Loan Interest Rates Work

Most, if not all banks in Malaysia charge flat interest rates for their personal loans – unlike home loans, which charge a reducing loan balance rate. A flat interest rate is a type of interest that is charged on the principal loan amount throughout the tenure of the loan, regardless of the outstanding balance. This means that your effective interest rate will likely be higher than the percentage of interest rate advertised. For example, if you take out a loan of RM10,000 at an interest rate of 8% over 5 years, the total amount of interest you would pay is RM4,000, which is actually 40% of your loan amount.

Therefore, don’t blindly chase after the one with the lowest interest rate. Yes, personal loans with lower interest rates are more attractive, but that’s not the only deciding factor for whether or not a loan is right for you. For example, lower interest rates might come together with a shorter loan term, larger minimum amounts, or higher requirements that you might not be able to meet – which we’ll look at below.

Choose The Right Loan Tenure

In Malaysia, a personal loan tenure can last from 1 year up to 10 years. Choosing the right loan tenure is important because it directly affects your ability to pay it off. The instalments for a personal loan are smaller when your loan tenure is longer, which is why many people opt for longer loan periods. Some also choose to select the longer tenures thinking that they can just pay off their loans early if they wish to later on. On the other hand, some people are overconfident and choose shorter loan periods only to find themselves unable to meet the due payments down the line.

If you do have the ability to pay off your personal loan ahead of schedule, there’s nothing wrong with doing so. However, be aware that most lenders use the Rule of 78 when it comes to calculate
loan interest charges
. Basically, it means that the borrower is required to pay a greater portion of the interest owed in the earlier part of their loan tenure, thus decreasing the potential savings in paying off the loan early.

On top of that, you could also incur fees for early payment – so try to choose the right loan tenure at the beginning and you will probably be better off.

Be Aware Of All The Fees And Charges

Personal loans come with a few fees and charges, some of which you may not be aware of. They’re not necessarily all bad, but you should still be aware of them so that none of them take you by surprise. For example, you can expect to pay a stamp duty of 0.5% of the whole amount on your personal loan, although there are a few banks that
may absorb it
. One fee that you
shouldn’t
 be paying for is the processing fee on your personal loan, as banks are no longer allowed to charge for those anymore.

As we mentioned above, some banks also charge you a fee for early termination of your loan agreement. So, if you decide to pay your loan off early, there is a chance that you can be charged a percentage of the remaining amount. This amount is usually a fixed amount or a percentage of the outstanding amount (whichever is higher). Meanwhile, it’s normal to face a penalty fee of about 1% of the current outstanding amount for making late payments.

Lastly, some personal loans may even require you to apply for an
insurance
 policy together with your loan. Known as a Reducing Term Assurance (RTA) or Reducing Term Takaful (RTT) for Islamic financing, this policy is meant to give your loan financial protection in the event of death or total permanent disability, so that you won’t need to burden your family with your loan should anything happen to you. However, it could have the impact of increasing your loan amount by several per cent, so make sure to take this into account if your personal loan requires it.

Don’t Underestimate The Requirements

Different personal loans have different requirements, whether it’s your
minimum annual income
, age, nationality, employment status, or employment sector. Apply for a personal loan where you pass most of the requirements to get a better chance of being approved.

For instance, civil servants will have a better chance getting their application for a personal loan that is
specifically for government employees
. And if the personal loan sets “
salaried employee
” as a requirement, full-time business owners are probably better off applying for a different personal loan.

Of course, don’t forget that your credit score comes into play here too. You may fulfil all the requirements for a personal loan perfectly but still get rejected due to your poor credit rating – so make sure that you have a healthy record of prompt payments in your recent history before applying for a personal loan.

Lastly, banks may be hesitant to offer you a personal loan when you’ve already been rejected by another – so make your choice wisely and a
pply for a personal loan where you have a higher chance of being approved
.

Be A Responsible Borrower

A personal loan can be a useful tool if you use it
for the right reasons
. It can help you consolidate your debt, ease up your cash flow, and can really come in handy in times of emergency. Borrowers are not required to disclose the reason behind their personal loans to the banks, but that doesn’t mean you shouldn’t think long and hard about why you’re taking out a personal loan. Make sure that it’s a justified decision that you can financially sustain in the long term, and then you can start looking around for the right personal loan for you.

Fortunately, you have some solid and dependable choices when it comes to personal loans on the market, such as the
RHB Easy-Pinjaman Ekspres
 and
Citibank Personal Loan
, which both offer instant approvals as one of their core features. If you are looking for financing to help with your debt consolidation, then the
Standard Chartered CashOne Debt Consolidation Plan
 or
Alliance Bank CashFirst Personal Loan
 could well be the options you are searching for. For more information on personal loans all in one place, don’t forget to visit the
RinggitPlus website
.

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Citi Brings Back Campaign Offering Cashback For Online, E-Wallet, And 0% EPP Purchases

(Image: HRNEWS.my)

Citi has renewed its 2022 Online, E-Wallet, and 0% Easy Payment Plan (EPP) campaign, this time set to run from 1 August until 31 October 2022.
Originally meant to take place between 1 February to 31 July
 this year, it will continue to reward Citi credit cardholders with up to RM118 cashback when they meet specified minimum spend requirements under the online and e-wallet category, as well as the 0% EPP category.

In this latest round of the campaign, the campaign mechanics and details generally remain unchanged. Citi cardholders will need to spend the following amounts on their credit cards to earn the cashback rewards provided, as per the following details:

Spend category
Conditions & Details
Cashback cap per customer in one campaign month
Online & e-wallet
Minimum cumulative spend of RM1,800 in a campaign month
RM100
Citi 0% EPP
Minimum one new successful Citi 0% EPP booking of RM1,800 and above in a campaign month
RM18

Total
RM118

Under the online and e-wallet category, make sure to spend with participating e-commerce merchants and e-wallet platforms to ensure that your transactions are eligible for the campaign, namely:

Boost
GrabPay
KiplePay
Lazada Wallet
Setel
ShopeePay
Touch ‘n Go (TNG) eWallet

Citi also specifically mentioned that BigPay transactions will not be considered as qualifying spend under the online and e-wallet category. Additionally, note that 0% EPP transactions will take between three to five business days from the actual day of purchase to be reflected in your statement – so if you’re timing your purchases to benefit from this campaign, remember to take this period into account.

Meanwhile, transactions that are excluded from this campaign include payments made via JomPay as well as recurring insurance payments. Balance transfers and instalments paid under Citi PayLite, too, are not eligible.

As always, the cashback rewards under this campaign will be provided on a first-come first-serve basis, with Citi allocating a total of RM177,000 to be disbursed each campaign month (RM150,000 for online and e-wallet spend, and RM27,000 for 0% EPP spend). Those who have earned cashback rewards will receive the amount within 60 days after the end of each campaign month.

(Source:
Citi
)

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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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    Guan Eng

    10 months ago

So sad that this ends today.. Hope there is a continuation in the future.

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Invest As Little As RM2,000 And Stand a Chance to Win An iPhone 11

We all know that investment is an important step when it comes to managing your finances wisely. However, some of us shy away from investing because there are too many perceived hurdles involved. Do you need to invest a big amount at once? Is investing a complicated process? Is it Shariah-compliant?

The Hong Leong Islamic Bank (HLISB) Term Investment Account-i is a Shariah-compliant investment that makes investing easy, convenient, and approachable. It is perfect for those who are looking for low to medium risk investments over a short-term period.

With HLISB’s Term Investment Account-i, investing is an approachable affair because it has low entry requirements for you to get started. With a low minimum fund subscription, you can start investing with as little as RM2,000.

To earn entries for this contest, a minimum subscription of RM5,000 is required to earn one entry ticket. Investors may place a higher investment amount to earn more entry tickets.

Moreover, the best part is that HLISB is actually offering a promotion for its Term Investment Account-i, offering a promotional indicative rate of 3.90%p.a. profit. The details of this promotion are below:

Tenure

Promotional Indicative Rate

Profit Sharing Ratio (PSR) (Investors: Bank)

Minimum Fund Subscription

Maximum Fund Subscription Per Investor

Fund Size

6 months

3.90%p.a.

85:15

RM2,000

RM5,000,000

RM250,000,000

For maximum convenience, you can make your investments anytime and anywhere through online banking; you don’t need to make any in-person visits or fill up lengthy forms. It only takes six quick and easy steps to get started with your HLISB Term Investment Account-i.

Log in to
www.hongleongconnect.my

Under apply, create a new Investment Account-i

Complete the Suitability Assessment to assess your risk profile

Subscribe to the Term Investment Account-i

Enter the required subscription details, making sure to select the Promotion Rate from the dropdown

Enter TAC and click Submit.

If this wasn’t enough to convince you, you should know that you also stand to win an iPhone 11 when you make an investment in the Term Investment Account-i!

Invest with
HLISB’s Term Investment Account-i
 from 29 January 2020 until 18 February 2020 to benefit from this promotion.

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Tips To Save And Win Up To RM2,600! New Year, New Goals With Experian

As we head into the year of 2023, it’s a good time to reflect on the progress we’ve made in reaching our financial goals. Some of you may be hitting your goals as planned while others may find that their situation is not as ideal.

Regardless, we should take this opportunity to assess and set new goals or make improvements where needed. Fortunately, there are still many ways one can build their savings such as through efficient financial tools, automated savings, and more.

Read on to find out how you can save for your goals in 2023.

Challenges In Saving

Having come fresh out of the pandemic last year, many Malaysians might be still feeling the financial impact of the global situation. Additionally, Malaysians might find saving for their goals more challenging amidst soaring inflation.

Here are some findings from the
RinggitPlus Malaysian Financial Literacy Survey (RMFLS) 2022
:

70% of Malaysians save less than RM500 per month.

55% of Malaysians spend exactly or more than what they earn each month.

59% of Malaysians do not know or are completely unaware of what a credit score is.

32% of Malaysians do not know the benefits of keeping a good credit score.

It is found that only 55% of credit card holders pay their bills in full every month. The remaining 45% either pay only the minimum amount (18%) or whatever that they can afford that month (27%).

If you didn’t know, The RinggitPlus Malaysian Financial Literacy Survey (RMFLS) 2022 is an annual survey that aims to learn about Malaysians’ financial behaviours so we can be aware of common pitfalls and find ways to improve together.

Experian is a partner for RMFLS 2022 and it is a company that provides Malaysians with updated credit reports for an affordable price of RM19.50. Through this report, you get to know your overall credit standing, understand how lenders or the banks use it, and learn ways to raise your credit status.

How To Save Easily

With the arrival of a new year, we’re excited to set new goals but it can be demotivating when things are not going according to plan. Hence, it’s important to ensure that you’re employing practical saving tips that can help you accomplish your targets in a sustainable way.

Always pay yourself first

We’ve all been there – hitting the mid-month slump and waiting for payday to come every month. Then, immediately like clockwork, we’re paying our bills, topping up on essentials, indulging in some shopping, and before we know it, a large chunk of our salary is gone.

If that’s what you do every month, you may be missing an important step, which is to pay yourself first. This means allocating a sum of money every month for your financial future. These funds can go into your retirement nest egg or come in handy during emergencies.

Automated saving

Saving for your 2023 goals doesn’t have to feel like a chore. Most importantly, you’re creating a consistent habit of saving that encourages you to continue until you reach your goals.

Thanks to digital technology, there are many financial platforms out there that allow one to set personalised goals and arrange automated savings for your goals whether it’s weekly or monthly. With automated saving, it takes the hassle out of having to withdraw money and deposit it into another account. This way, saving becomes easy and can be incorporated into your monthly routine.

Manage your lines of credit

It can be difficult to focus on saving when you have mismanaged debts. There are two common methods for managing debt which are the snowball method and avalanche method.

The snowball method is where one starts off with the smallest debt and works towards clearing the bigger debts. Meanwhile, avalanche method recommends that you settle loans with the higher interest rate initially and move to the loan with the second highest interest rate until you’re done.

Based upon these methods, you can set up a system that works for yourself. Always ensure that you pay your credit card bills in full and on time every month as well.

Maximise your savings by investing

With rising inflation, we need to find ways to maintain our purchasing power. Aside from honing our skills and growing our careers, you can consider supplementing your savings with investments that could generate returns at medium to low risk such as retirement funds, fixed deposits, and robo-advisors.

***

Now, Experian’s ‘New Year, New Goals’ campaign is back! Malaysians can take charge of their financial health when they buy the Experian Personal Credit Report Plus to learn about their credit standing and improve their credit score. By doing so, they will also stand a chance to win vouchers worth up to RM2,600. How to win? Just buy one Personal Credit Report Plus from 1 to 31 January 2023 and you will get a chance to win a voucher.

As highlighted, many Malaysians are finding it hard to accumulate and grow their savings, leaving them vulnerable to financial shocks. It’s high time we take charge of our financial situation, make re-evaluations, and set steps to reach our goals.

Learn more about Experian Personal Credit Report Plus
here
 and win vouchers worth up to RM2,600.

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Here’s How You Can Win RM10,000 And More When You Purchase An Electrical Product

If there was a good time to buy that electrical product you’ve been eyeing, it’s now. Shop online from the comfort of your own home, get the item delivered to your doorstep, and stand a chance to win incredible prizes!

Senheng Electric, Malaysia’s largest electronics chain store will be giving customers much more just by purchasing their favourite electrical products. There’s not only RM5 million in vouchers to be given away, but also RM100,000 in cash prizes, as well as the latest and greatest Samsung smartphones all up for grabs!

Valentine’s Day may have come and gone, but for Senheng, “Love Is In The Air” as the company is in the mood for giving away incredible prizes for its PlusOne members. Whether you are getting digital gadgets, home entertainment and appliances, or even health and beauty products, you stand to win something. The “Love Is In The Air” campaign from Senheng runs from 1 March 2020 to 31 May 2020.

Customers have four different ways to win one of the many prizes available. Here’s how to win:

Win RM10,000 With The Review & Share Contest

By completing 4 simple steps, customers can win part of the RM100,000 cash prize being given by Senheng Electric. After signing up as a PlusOne member when purchasing any product from Senheng and downloading the Senheng App, you are required to leave a review, share this post on your social media (don’t forget to set it to Public), and submit for the chance to walk away with RM10,000 in cash!

Get Guaranteed Vouchers With The RM5 Million Voucher Giveaway

By spending a minimum of RM1,500 with Senheng, you will automatically be entitled to a Senheng voucher! By spending between RM1,500 and RM2,999, customers will receive a RM30 voucher; between RM3,000 and RM3,999, customers would get RM60; between RM4,000 and above, customers would get RM90. For example, if you decide to buy an
LG Smart UHD TV
 worth RM3,999 at Senheng, you would be rewarded with a RM60 Senheng voucher which can be used for your next purchase.

Win A Samsung Galaxy Z Flip

Wanna win one of the coolest futuristic smartphones that was just launched in Malaysia? There are 3 units of the sexy Samsung Galaxy Z Flip foldable smartphone to be given away, and you can win one of them by just making a minimum purchase of RM1,500 and using the UOB Credit Card Instalment Payment Plan (up to 12 months).

Win A Samsung Galaxy S20+

Stand a chance to be one of three winners of one of Samsung’s latest flagship smartphone, the Galaxy S20+ worth RM3,999. To be in the running, just make a purchase using AEON Credit Easy Payment.

 ——————————

With the multitude of cash prizes and smartphones to be given away, you might just fall in love with Senheng. Now is the time to buy that product you’ve been hoping to – and with that, you might win much more!

Find out more information about the
Love Is In The Air campaign in Senheng’s official website
.

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    oh swee kin

    3 years ago

i will go to sen heng tesco tanjong tokong to buy my electrical good

-1

Reply

    Muhammad Aqil

    3 years ago

Hai , nk join

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JPJ And PDRM Extend Deadline For 100-Day Aspirasi Keluarga Malaysia Summons Discounts

Motorists will now have more time to tap into the 100-Day Aspirasi Keluarga Malaysia summons discount offer provided by the Road Transport Department (JPJ) and the Royal Malaysia Police (PDRM). This is following announcements from both parties to extend the promo to 15 December and 31 December 2021, respectively.

With this, those who have outstanding JPJ summons will have until this coming Wednesday to make their payments via JPJ state headquarters, satellite and Urban Transformation Centre (UTC) branches, as well as the MySikap portal. Meanwhile, motorists looking to settle their PDRM traffic summons will have approximately another three weeks to do so through approved payment channels, including Pos Malaysia, Maybank ATMs, and the MyBayar Saman portal.

According to Inspector-General of the PDRM, Tan Sri Acryl Sani Abdullah Sani, this move was due to the public’s overwhelming response to the promo, which provided
up to 80% discount on selected summonses
. It was initially supposed to take place only between 9 – 12 December, with motorists being required to make payments at dedicated counters in the Kuala Lumpur Convention Centre (KLCC) during the specified dates. PDRM and JPJ were eventually forced to close down the counters on 10 December due to Covid-19 concerns when a massive crowd turned up at the venue.

Tan Sri Acryl said that he hoped the extension will allow more people to benefit from the offer without having to crowd at counters. He also stated that he was aware of the glitches that affected the PDRM summons payment app due to high online traffic. “Therefore, I will instruct the Bukit Aman Traffic Investigation and Enforcement Department director (Datuk Mat Kasim Karim) to consider increasing the number of counters nationwide,” he said.

Aside from that, Tan Sri Acryl shared that almost 2.3 million traffic summonses have been settled nationwide, with a total collection of RM109 million – as of noon on 11 December 2021.

(Sources:
Free Malaysia Today
,
Malay Mail
)

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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HSBC Visa Signature: 5x Points Benefit Enabled For Local Shopping Transactions Under Eligible MCC

HSBC Bank announced that it has enhanced the benefits of its HSBC Visa Signature credit card by expanding the 5x Rewards Points perk to include local in-store shopping transactions that are categorised under eligible merchant category codes (MCC). This revision is effective immediately.

In an email sent to cardholders, HSBC said that the benefit – which lets you earn 5x Rewards Points for local online spend and in-store shopping transactions – will no longer be linked to only selected malls. “Instead, it’s now applicable for your local shopping transactions so you can make the most of your in-store purchases anywhere,” the bank shared, clarifying that the benefit will be provided for transactions under the eligible MCC instead.

Prior to this, HSBC Visa Signature cardholders could only earn 5x Rewards Points for their in-store shopping expenses at participating malls, including Pavilion Kuala Lumpur, Suria KLCC, 1 Utama, Starhill Gallery, and IPC Shopping Centre. Retail transactions at other malls, meanwhile, are awarded only 1x Rewards Points.

As you can expect, this latest update will make the HSBC Visa Signature card much easier to use because you no longer need to limit your shopping to only selected malls just to earn 5x Rewards Points. Not only that, it is also more rewarding as you can earn points at a faster rate since you will now receive points for in-store purchases anywhere.

Aside from this revision, other perks of the HSBC Visa Signature card all remain unchanged. In addition to the 5x Rewards Points awarded for all local online spend and in-store shopping transactions made under the eligible MCC, you can also continue to earn 8x Rewards Points for foreign retail and online spend, and 1x Rewards Points for other eligible expenses.

The card also comes with a
charity spend feature
, where HSBC will contribute 1% equivalent of your donation amount to a selected charity organisation whenever you donate to any cause. Additionally, you are entitled to 6x complimentary access to selected Plaza Premium Lounges.

To apply for the
HSBC Visa Signature card
, interested applicants must have a minimum annual income of RM 72,000. Meanwhile, the annual fee stands at RM600 (waived if used once a month, for 12 consecutive months with minimum annual spend of RM2,000).

(Source:
HSBC
)

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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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Raya Lebih Meriah With SST Exemption And More Savings When You Own A New BMW

This Raya, joy comes in a brand new BMW – besides the classic Raya tune, the kitchen havoc as you try to bake
kuih
 Raya and cook up your family’s legendary
rendang
 recipe. What’s more, no matter where you celebrate this year, it wouldn’t be less memorable especially with a new BMW parked in your driveway and the savings that you could enjoy in your bank account.

Because BMW is coming up your way this festive season with offerings that will give you more savings, so you can focus on your next wishlist after your dream BMW.

Celebrate Sales & Service Tax (SST) Exemption When You Own A BMW

Famed for superior powerhouse under the hood and progressive interior and exterior design, BMW assembles a line-up of models from plug-in hybrids to innovative Sports Activity Vehicles (SAV), perfect for every occasion.  And this Raya could be the time to realise your dream BMW with SST exemption on selected BMW models.

If you have been eyeing the luxurious
BMW 740Le xDrive Pure Excellence
 that comes with a 6-cylinder TwinPower Turbo engine, the SST exemption means that you could enjoy up to RM29,747.13 in savings. But that is not the only BMW that comes with SST exemption. From the BMW 7 Series to the BMW 2 Series Gran Coupé M Sport, BMW 3 Series Plug-In Hybrid, BMW X4 M Competition series, and more, there will surely be one that turns your head.

“Duit Raya”
 Comes In Rebates Up To RM120,000

What’s Hari Raya without
duit
 Raya? In addition to the SST exemption, BMW adds to the excitement of festivity with rebates up to RM120,000 on selected models.

With the same BMW 740Le xDrive Pure Excellence model above, you will get to enjoy rebates up to RM45,000 in addition to the SST exemption. It’s not the typical
duit
 Raya you would get from visiting your parents and relatives, but you will feel the joy of receiving the extra cash all the same.

Your Monthly Reason To Be Happy – Low Financing Rates, From 0.77%

Owning a BMW this Raya also means continuous happiness when you pay lower monthly instalments, thanks to BMW’s low financing rates from 0.77% on selected models.

To put this number into perspective, the low financing rate does apply to BMW 740Le xDrive Pure Excellence previously mentioned in this article. At 0.77% interest rate, the BMW 7 series with SST exemption, inclusive of Extended Warranty & Service package at recommended retail price of RM569,052.87 will equate to a monthly instalment of RM5,603!

Choose Your Joy Amongst BMW 7 Series And More

Luxurious and sophisticated, sporty yet eco-friendly – there are many ways to describe the joy in BMW’s wide range of models. Whether you are a sedan-person, SAV-person, or true BMW enthusiast, there will be a BMW for you with more savings this Raya.

BMW 740Le xDrive Pure Excellence

6-Cylinder TwinPower Turbo Engine with Electric Turbo capable of 250km/h top speed

– 100% SST Exemption

– Additional rebates up to RM45,000

– Low interest rates from 0.77%

– With 6+2 years PHEV Battery Extended Warranty

– Complimentary BMW i Wallbox & BMW ChargeNow Card

BMW 218i Gran Coupé M Sport

First of its kind, with a sleek roofline and exceptional presence

– SST Exemption

– Additional rebates up to RM5,000

– Low interest rates from 1.88%

BMW 330e M Sport

Plug-In Hybrid with Powerful 2-Litre TwinPower TurboPower 4-Cylinder Petrol Engine

– SST Exemption

– Additional rebates up to RM10,000

– Low interest rates from 1.88%

– With 6+2 years PHEV Battery Extended Warranty

– Complimentary BMW ChargeNow Card

BMW X4 M Competition

Built for any road or racetrack, made to deliver a maximum level of passion & adrenaline

– SST Exemption

– Additional rebates up to RM80,000

Hari Raya may not be the same this year, but its festive joy can still be experienced in many ways and forms. BMW invites you to be part of its family this Raya with more savings and more happiness. To view more BMW models applicable for this campaign, head on to
BMW’s website
 today.

Terms and conditions apply.

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Sharon Bentley

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Win a Mercedes Benz A250 with Maybank Amex

Maybank American Express credit cardmembers who shop regularly at Petronas stations could find themselves with a new set of wheels in the form of the latest A250 Mercedes Benz. Aside from the grand prize Maybank will also be giving away iPad Minis as daily prizes from 1 April to 30 June 2013.

Eligibility of participation in this contest will be based on every RM50 spent by Principal Cardmembers at any qualifying Petronas station which counts as one(1) entry while every RM50 spent by Supplementary Cardmembers will count as two(2) entries. Please note that the qualifying amount for participation is not cumulative and prizes will be awarded to Principal Cardmembers only.

Each Maybank American Express credit cardmember is only eligible to win a maximum of two prizes (a daily prize and grand prize) throughout the entire period of the promotion. A randomizer program will be used to select daily and grand prize winners. Eligible winners will be contacted by Maybank and required to answer one question correctly to qualify for their prize(s).

A total of 91 units of the iPad Mini are up for grabs which will be awarded daily from 1 April till 30 June 2013. The A250 Mercedes Benz grand prize winner will be announced 8 weeks after the promotion ends. For detailed information and disclaimers please read the full
Terms & Conditions
 of this promotion.

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Brendon Lee

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Transport Ministry: MAVCOM To Regulate Prices Of Flight Tickets Ahead Of GE15

Caretaker Transport Minister, Datuk Seri Wee Ka Siong has reassured that the prices of flight tickets will be regulated by the Malaysian Aviation Commission (MAVCOM) so that they are not hiked up arbitrarily by airlines ahead of the 15
th
 general election (GE15).

Datuk Seri Wee explained that it is not out of the ordinary for flight ticket prices to increase if there is a sudden surge of demand among passengers due to an event or occasion, as the dynamic price mechanism is in play. “Based on the dynamic pricing mechanism for any airlines in the world, the earlier it (the ticket) is booked, the cheaper it is and the closer to a date or event, the price will be higher,” he said.

However, if airlines were found to have raised prices indiscriminately outside of the conditions set by this mechanism, then MAVCOM will be in its right to act against them.

(Image: The Star)

Datuk Seri Wee’s comments were in response to the latest public outcry over the massive surge in flight ticket prices for the election weekend. Many individuals noted that the hike happened just minutes after the Election Commission’s announcement of the polling dates.

Direct economy flights between Singapore and Kuala Lumpur during the election weekend, for instance, cost RM2,376 on AirAsia and RM744 on Malaysia Airlines when checked yesterday. Meanwhile, the cost of flight tickets between Kuala Lumpur and Johor Bahru came up to RM495.92 and RM647.22 for AirAsia and Malaysia Airlines, respectively.

Twitter user @IcedNyior also reported being met with an error when purchasing her flight ticket from Johor Bahru to Kuching, which originally was priced at RM359.42. After the error code, she was redirected to a new price of RM727.44.

WOI
@airasia
 WHY was an error (code 999) when paying for election flight tickets then the price was then DOUBLED???
From RM360 to RM 730 from Johor to Kuching. tak masuk akal betul
pic.twitter.com/hcUyu3AMSA
— Iced Nyior (@IcedNyior)
October 20, 2022

Meanwhile, Malaysia Airlines, MASWings, and Firefly have announced
discounted airfares to cater to the needs of GE15 voters
. Malaysia Airlines’ Jom Balik Mengundi campaign offers as much as 20% discount on flight fares for passengers who book their tickets between today to 19 November 2022, for travel between 11 to 27 November. MASWings – a regional airline for East Malaysia, and the sister company of Malaysia Airlines – is also offering flights to selected destinations at prices starting from RM135 (one-way, all-in fares).

For passengers opting to fly with Firefly, there will be 24% and 10% discounted fares for jet and ATR-operated flights, respectively. This promotion is available for bookings made from today until 24 October, for travel between 1 November 2022 to 30 June 2023.

Prior to this, the Transport Ministry had been requested to advise MAVCOM on
setting a ceiling price for airline tickets
 to ensure that voters can exercise their democratic right without having to pay exorbitant amounts. Malaysia is set to hold GE15 on 19 November 2022, with early voting to begin on 15 November 2022.

(Source: Malay Mail [
1
,
2
])

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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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Clever Ways to Reuse Your Old Smart Devices

Just like any other unwanted technology, you can always recycle them, donate them, or sell them off. But smart devices like tablets, iPhones, and Android phones due to the advanced tech embedded in them, present a different set of opportunities for you to repurpose them and give them a new lease on life. Here are some way cool things you can do with your obsolete smart devices you probably didn’t know about.

Children’s Toy

The tech in a three-year-old device may not be up-to-date enough for you, but it’s perfect for a three-year-old. Just remember to set up the
Guided Access
 (for iOS) or a
Restricted Profile
 (for Android) for the child before passing it on to them. These two features lock the device so the kid can only access a restricted number of apps, preventing them from accidentally messing up the device while making it super simple for them to use as well.

Also, don’t forget to wrap the device up in a robust protective casing to shield it from bumps and scratches that would inevitably happen in the hands of rambunctious toddlers. There are many educational games, books, and apps available for kids to use on both Android and iOS. For children with weak grips or who are still developing their coordination, you can keep them occupied with
YouTube Kids
, a version of YouTube with kid-friendly content.

Alarm Clock

Sure, you can use your phone as one, but why waste the battery for that? Leave your phone off and charge it overnight then use an older device as a dedicated alarm clock. There’s no shortage of cool alarm clock apps on both
Android
 and
iOS
 you can install on your device to make it a superpowered alarm clock.

The best thing about using a smart device as an alarm clock is how you can customize the clock face, the alarm noise, and set up unlimited alarms with no trouble at all. All that, plus other dizzying custom options like volume fade, alarm tone randomizer, and many others. Having an old phone always by your bedstand is also useful if you ever lose your current phone. Just pop your alarm clock in your pocket and you have a spare phone.

Security Camera

Even the oldest smartphones have better cameras than a lot of webcams you can find on the market right now. So using an old device as a security camera should be a no-brainer. Just like our alarm clock suggestion, there are plenty of apps available that can turn your device (both
Android
 and
iOS
) into a powerful webcam you can use to secure your house or property of choice.

These apps allow you to peek through your smartphone’s camera from a connected computer anywhere you are in relation to your house or property. You can also use this function as a makeshift baby monitor to keep an eye on your little tyke as they play around with your old tablet.

Music Player

If your ancient device has a lot of storage space in it still, even though the software is badly outdated, you can use it as a dedicated music player. Just load it up with all your favourite tracks and you’re good to go. You can even leave it in the car connected to the power port and auxiliary audio to play all of your driving music right from your device. No more boring radio ads.

This is also a great idea to use if your device’s screen is all smashed up or your speakers are dead or even both. Since you can just plug in your headphone jack and you won’t need to stare at the screen for long anyway.

Dedicated E-reader

Ah, but what if your device’s screen is in perfect shape but the speakers and headphone jack are the ones that don’t work any more? In that case, you can use it as a dedicated e-reader for all your ebooks.

Ebooks typically don’t require too much storage as well so you can carry pretty much your entire book collection without worrying about running out of room in your device’s memory. Also, you can turn off wireless connectivity on it and use it as a pure, focused reading device without worrying about internet distractions.

Digital Photo Frame

This one works best with devices that have really bright displays. What you need to do is get yourself a really nice stand and cover case, then put it somewhere visible in your house or workspace.

Next, install a digital photo frame app (available for both
Android
 and
iOS
) and enjoy a rotating slideshow of images displayed on your desk. Of course, since it’s a smart device, you can customise which images show up on rotation, change which images to show at what time of day, and even combine this function with the alarm clock as well as a calendar app for a handy multitasking device you never knew you needed.

Real-time Window to the Outside World

This one, like the digital photo frame idea, is more suited to older tablets than phones. What you do is essentially connect the device to a live feed of something happening elsewhere in the world and your device becomes almost a literal window into the goings on of the world.

Install EarthCam on your device (yes, available both on
Android
 and
iOS
) and look through the different feeds around the world and check out what’s happening from the Abbey Road crossing in London to New York City’s Time Square. You can also find other interesting mobile-friendly live cameras around the web, too. Take a look at the [San Diego Zoo’s Panda Cam](
http://api.viglink.com/api/click?format=go&jsonp=vglnk_14513776281169&key=f6962bb9927d153082cdc6b572121599&libId=iir3vmkz010113ap000DLaqkxxs9w&loc=http://www.computerworld.com/article/2487680/smartphones/smartphones-18-great-uses-for-an-old-android-device.html&v=1&out=http://zoo.sandiegozoo.org/cams/panda-cam&ref=https://www.google.com/&title=18
 great uses for an old Android device | Computerworld&txt=San Diego Zoo Panda Cam) or [SeaWorld’s Penguin Cam](
http://api.viglink.com/api/click?format=go&jsonp=vglnk_145137763605211&key=f6962bb9927d153082cdc6b572121599&libId=iir3vmkz010113ap000DLaqkxxs9w&loc=http://www.computerworld.com/article/2487680/smartphones/smartphones-18-great-uses-for-an-old-android-device.html&v=1&out=http://seaworldparks.com/en/seaworld-orlando/AnimalVision&ref=https://www.google.com/&title=18
 great uses for an old Android device | Computerworld&txt=SeaWorld’s Penguin Cam) if you need a quick fix of adorable animal cuteness.

Smart devices are called so for a good reason. Even the oldest, lamest versions of them are made up of highly sophisticated technology. Just because they’re no longer the hottest thing right now doesn’t mean they’ve outlived their usefulness. As our list shows, they may still have some life in them yet!

Do you have an obsolete device you’re still kind of using as something else right now? What do you use it for? Let us know in the comments section below!

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Ahmad Mudhakkir

Ahmad Mudhakkir

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