Best Online Office Tools to Boost Your Business’s Efficiency

There are constantly new developments in the online marketplace, and a lot of them could help to improve your business. The saying goes “out with the old, in with the new”. With that in mind, here are some great office tools that can help increase productivity and effectiveness for your staffs, and consequently, your business.

Trello

When you’re a business owner and busy with both the short and long-term planning of the company’s growth, it’s not easy to keep track of every facet of the daily operational matters – such as the active projects that your teams are working on. With
Trello
 in the picture, it can help you to organize and keep track of your employee’s daily tasks easily.

Whenever you need to get something done, you can create a task in Trello and assign it to a person-in-charge. The person will be automatically notified of the given task, and get to work immediately.

What’s really great about this tool is that even if you add new assignees into the project mid-way, they will still be able to see all the previous threads and updates, making it easy for them to keep up and hit the ground running.

Cloud Storage

Many smaller offices still maintain a central filing system, which is inconvenient because if one person holds a file, others won’t have access to the information until it’s returned. Businesses should adopt a cloud storage system like
Evernote business
,
Dropbox
, or
Google Drive
 which allows everyone to access the same file at the same time.

As long as you’re connected to the internet (and have access to the file), you can view your work files from anywhere, anytime. You could be reading and editing your work documents while you’re sipping on coconut water on a beach in Thailand and no one will ever know!

MailChimp

If your business only had 10 or 20 customers, sending out e-mails to all of them could be easily managed without any assistance. However, most businesses have hundreds, thousands, and even hundreds of thousands of customers to send e-mail updates and promotions to.

MailChimp
 assists you to group different types of people into categories so you can diversify your message to the right people. It also has a variety of templates you can easily modify to keep things fresh in your weekly, biweekly, or monthly Electronic Direct Mail (EDM). It also provides you with relevant digital marketing data to help you monitor how well each e-mail campaign is doing for further improvements in the future.

Hootsuite

With social media being one of the biggest things on the internet,
Hootsuite
 gives you a better way to manage up to 10 social profiles. Features such as scheduling your content, engaging with customers, and internal task management make Hootsuite one of the best office tools in the market.

According to its website, it also provides you with valuable analytics and helps you monitor your brand by tracking what people are saying regarding your brand and your competition.

Slack

While many people have instant messaging apps on their phones for personal use,
Slack
 has been developed very carefully for the office use. It allows you to create chat groups like all their predecessors, but it also has very specific search capabilities.

Say for example you need to look up for some bits of information that you and your colleague were discussing last week, you can just search for the relevant keywords on the Search bar and it will take you straight the exact area of conversation you need. Neat, isn’t it?

Slack also has data loss prevention measures and offsite backups in order to keep your business running even if you or an employee loses their laptop or smartphone in the process.

Skype

Skype
 is an online video conferencing tool and messenger service that needs no introduction. You can add people from your workplace via e-mail address or mobile numbers. Despite its wide usage, many still underutilise this amazing conferencing tool.

If you needed to have a short discussion with your team in another office, you could easily connect to Skype and have a video conference instead of sitting through traffic or flying across the ocean in order to meet up for a twenty-minute discussion.

Shopify

For businesses that have an established ground game and would like to setup a secondary sales channel online,
Shopify
 would be a great platform to utilise. It has payment facilities, website setup, and inventory management systems that will help you to get started. The platform allows you to purchase a website name and customise your website according to your preference.

This is not only a game changer for those who have an existing business, it also works just as well for a company that is just starting out.

Small-Medium Enterprise (SME) Support

Starting a business can be a daunting task but if you are prepared with the right tools to boost efficiency and the right foundation, there is little to worry about. In fact,
RHB’s SME Knowledge Centre
 has a great pool of resources and advice you can use to help you find ways to manage your business better. Happy reading!

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

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Cara Memilih Dana Unit Amanah Yang Terbaik Untuk Anda

(
Baca artikel ini dalam
Bahasa Inggeris di sini
.
)

Bagi kebanyakan orang, salah satu instrumen pelaburan terawal yang diperkenalkan kepada mereka ialah dana unit amanah (
unit trust fund
) – yang juga dikenali sebagai dana bersama (
mutual fund
). Jika anda pernah mendengar nama-nama seperti FSMOne, Public Mutual atau Affin Hwang, anda mungkin telah mengetahui sedikit sebanyak tentang beberapa dana unit amanah yang ditawarkan oleh platform-platform ini.

Secara umumnya, dana unit amanah dilihat sebagai titik permulaan yang baik untuk individu yang baru memulakan pelaburan mereka kerana beberapa faktor. Salah satu faktor utama ialah kemudahan pengurusan dana unit amanah sebagai suatu bentuk pelaburan pasif; dana anda akan diamanahkan kepada pengurus dana profesional, jadi anda tidak perlu memantau portfolio anda sendiri pada setiap masa. Selain itu, anda boleh menetapkan arahan tetap (
standing instruction
) untuk melaburkan jumlah tertentu secara automatik untuk setiap bulan (atau tempoh masa lain), sekali gus memudahkan proses pelaburan.

Selain itu, dana unit amanah juga menggunakan suatu strategi penting – kepelbagaian dalam pelaburan – kerana ia terdiri daripada gabungan beberapa aset, termasuk saham dan bon. Ramai pelabur individu mengalami kesukaran untuk mempelbagaikan pelaburan mereka secara manual kerana kekurangan masa dan penyelidikan. Oleh itu, sesetengah pelabur lebih rela menyerahkan urusan tersebut kepada pengurus dana profesional kerana kepelbagaian dalam pelaburan akan membantu pelabur untuk mengimbangi risiko dan pulangan dalam portfolio pelaburan. Di samping itu, dana unit amanah juga dikawal selia oleh Suruhanjaya Sekuriti Malaysia (SC).

Walau bagaimanapun, dengan beratus-ratus dana unit amanah yang tersedia ada dalam pasaran, bagaimana harus anda tentukan sama ada pelaburan dalam sesuatu unit amanah itu berbaloi? Apakah yang menjadikan Dana Unit Amanah A “lebih baik” daripada Dana Unit Amanah B? Prospektus dana unit amanah mengandungi pelbagai maklumat penting yang diperlukan, dan dalam artikel ini, kami akan menjelaskan beberapa perkara yang perlu anda perhatikan. Teruskan membaca untuk mengetahui pandangan dua perancang kewangan berlesen (CFP) kami, Azril Ikram dan Hann Liew.

Fi & dan caj-caj berkaitan (kos pelaburan)

Untuk melabur dalam dana unit amanah, pelabur akan dikenakan beberapa fi dan caj pada kadar yang berbeza, jadi anda perlu mengenalpasti fi dan caj ini kerana ia boleh menjejaskan pulangan anda dengan ketara dalam jangka masa panjang. Antara jenis fi yang perlu anda tahu ialah:

Fi permulaan/caj jualan
: Fi yang dicaj sekali sahaja sebagai kos persediaan untuk membeli dan melabur dalam dana pilihan anda. Bergantung pada firma atau bank pembelian dana, serta dana yang dipilih, fi jualan adalah serendah 0% (ya, tiada caj jualan!) atau mencecah sehingga lebih daripada 5% daripada jumlah yang dilaburkan.

Fi pengurusan tahunan
: Meliputi kos operasi dana – seperti caj audit dan pentadbiran – serta gaji pengurus dana. Biasanya, fi pengurusan tahunan yang dikenakan adalah antara 0.5% hingga 2%.

Fi pemegang amanah
: Fi pemegang amanah selalunya dimasukkan sebagai sebahagian daripada fi pengurusan tahunan, dan dikenakan untuk perkhidmatan pengawasan bagi memastikan aset yang dipegang dalam dana diuruskan dengan sewajarnya.

Fi tambahan lain yang mungkin dikenakan termasuk fi penukaran (yang ditanggung apabila anda menukar daripada satu dana ke dana yang lain dalam firma pengurusan aset yang sama), dan fi keluar/penebusan (yang ditanggung apabila anda menjual unit amanah anda). Semua fi ini akan menjejaskan pelaburan dan keuntungan anda pada peringkat awal. Oleh itu, ianya penting untuk anda melabur dalam dana yang berprestasi tinggi dan mengenakan caj yang rendah (atau sekurang-kurangnya berpatutan). Perhatikan juga jumlah minimum pelaburan permulaan serta jumlah minimum pelaburan tambahan.

Pandangan Azril dan Hann
: Dana unit amanah pilihan anda harus mempunyai
jumlah caj jualan yang kurang daripada 1.5%
. Sementara itu,
keseluruhan fi pengurusan dan fi pemegang amanah tahunan hendaklah kurang daripada 1.95%
. Peratusan yang disyorkan ini akan membantu anda untuk meminimumkan kos pelaburan, serta memastikan fi yang perlu ditanggung tidak mengurangkan pulangan anda secara berlebihan.

Rekod prestasi dana unit amanah

Satu lagi kriteria utama yang perlu dipertimbangkan sebelum melabur dalam dana unit amanah ialah rekod prestasi sesuatu dana. Lebih penting lagi, jangan hanya bergantung pada prestasi dana dalam satu atau dua tahun lepas – ini mungkin dipengaruhi oleh peristiwa kitaran yang sering berulang. Cara yang lebih baik untuk menilai prestasi sesuatu dana adalah dengan melihat prestasi dana tersebut dalam tempoh yang lebih lama – sebaiknya sepanjang 10 tahun yang lalu (atau lebih).

Sehubungan dengan ini, anda mungkin biasa mendengar kenyataan ini: “prestasi lalu sesuatu dana bukanlah petunjuk prestasi masa hadapan”.  Tetapi dana yang telah mencatatkan pulangan yang konsisten dalam tempoh masa yang panjang adalah petunjuk utama yang penting. Prestasi yang stabil dalam jangka 10 tahun yang lalu atau lebih menunjukkan bahawa dana tersebut terserlah dan mempunyai kestabilan jangka panjang serta pengurusan yang baik oleh pihak pengurus dana. Ini memberi signal yang baik kepada pelabur yang mencari pulangan jangka panjang.

Pandangan Azril dan Hann
: Anda haruslah melabur dalam
dana unit amanah yang merekodkan pulangan lebih daripada 9% setahun sepanjang 10 tahun sebelumnya
 kerana ini adalah petunjuk yang baik bagi dana yang stabil dan menguntungkan.

Nisbah Sharpe (
Sharpe Ratio
)

Selain daripada prestasi yang lepas, anda juga harus menyemak nisbah Sharpe ketika memilih dana unit amanah anda, iaitu kaedah yang boleh digunakan untuk mengira risiko dan pulangan pelaburan anda. Pada asasnya, nisbah Sharpe membolehkan anda menganggarkan potensi pulangan yang boleh diperoleh apabila anda mengambil risiko tertentu. Dalam erti kata lain, ia menunjukkan jika anda mengambil sejumlah X risiko, anda akan menerima kira-kira sejumlah Y keuntungan.

Umumnya, dana yang mempunyai nisbah Sharpe yang lebih tinggi akan menawarkan pulangan yang lebih baik; nisbah Sharpe yang lebih tinggi juga memberikan anggaran bahawa pulangan pelaburan tersebut kurang dipengaruhi oleh risiko. Walau bagaimanapun, ambil perhatian bahawa nisbah ini hanya boleh digunakan sebagai anggaran kerana ia kadangkala terlalu memudahkan nilaian risiko sesuatu dana.

Pandangan Azril dan Hann
: Cari dana unit amanah yang mempunyai
nisbah Sharpe melebihi 0.35 sepanjang tiga tahun
 kerana ini adalah pilihan yang baik untuk dipertimbangkan.

Kecairan dana

Kebanyakan dana unit amanah perlu mengekalkan sebahagian daripada pegangan mereka dalam bentuk tunai atau setara tunai. Ini biasanya akan dimandatkan oleh polisi pengurusan, dan penting untuk dua sebab.

Pertama, mempunyai kecairan (iaitu mempunyai tunai yang boleh digunakan dengan serta merta) bermakna dana tersebut boleh melabur dalam peluang baharu tanpa perlu menjual kedudukan sedia ada. Pengurus dana kemudiannya boleh mengimbangi semula portfolio untuk memenuhi kecairan yang dimandatkan.

Selain itu, dana unit amanah juga mesti mempunyai kecairan untuk membantu pelabur yang ingin menjual unit dan mengeluarkan pelaburan mereka. Dana tidak cair mengambil masa yang lebih lama untuk memproses pengeluaran (kerana ia perlu menjual beberapa pegangannya untuk dikeluarkan kepada pelabur). Memandangkan nilai dana seunit berubah setiap hari, situasi ini mungkin akan menyebabkan pelaburan anda dijual pada harga unit yang berbeza berbanding semasa anda menetapkan pesanan untuk menjual unit anda.

Walau bagaimanapun, oleh sebab hampir semua dana juga perlu mematuhi syarat untuk mengekalkan sebahagian daripada pegangan mereka dalam bentuk tunai atau setara tunai, senario di atas mungkin tidak akan berlaku. Namun, dana yang berbeza mengambil masa yang berbeza untuk memproses pengeluaran – sesetengahnya boleh diselesaikan dalam hanya tiga hari bekerja, tetapi ia biasanya mengambil masa sehingga tujuh hari.

Pandangan Azril dan Hann
: Sebaik-baiknya, dana unit amanah yang anda pilih harus membenarkan
pengeluaran diproses dalam masa kurang daripada tujuh hari.
Anda juga disarankan untuk melabur dalam dana yang mempunyai
jumlah tunai melebihi RM50 juta
. Ini memastikan ia mempunyai wang tunai yang tersedia agar penebusan unit anda dapat diproses dengan segera.

Pemacu pertumbuhan dana

Prospektus dana unit amanah juga mengandungi maklumat mengenai pelbagai pemacu pertumbuhan yang menyokong prestasi keseluruhan dana. Kami sarankan agar anda mengambil tahu tentang profil risiko pertumbuhan dana, kategori dana, strategi pelaburan dan peruntukan aset, serta pendedahan global; faktor-faktor ini akan membantu anda untuk menentukan sama ada dana unit amanah tersebut sepadan dengan tahap toleransi risiko dan profil pelaburan anda.

Perhatikan juga pendedahan geografi dana, atau dengan kata lain, kawasan yang dilaburkan oleh dana. Sesetengah dana unit amanah mungkin melabur semata-mata dalam aset domestik, menyebabkannya agak terhad dari segi pendedahan seiring dengan risiko yang lebih rendah. Sementara itu, terdapat dana unit amanah yang mungkin memanfaatkan kuasa pertumbuhan tinggi seperti Amerika Syarikat dan China. Individu yang mempunyai toleransi risiko yang lebih tinggi pula boleh memilih dana yang lebih berisiko yang melabur dalam pasaran baru muncul (
emerging market
) seperti Vietnam dan Indonesia.

Umumnya, pelaburan dalam pelbagai pasaran luar negara akan membantu mempelbagaikan lagi portfolio pelaburan anda, yang seterusnya mengurangkan risiko portfolio anda. Walau bagaimanapun, jika anda mempelbagaikan kebanyakan pelaburan anda dalam pasaran yang lebih berisiko – seperti pasaran baru muncul – risiko menghadapi kerugian juga akan menjadi lebih tinggi. Pastikan anda melakukan penilaian sewajarnya kerana aktiviti dan pertumbuhan ekonomi di setiap wilayah akan dipengaruhi oleh pelbagai faktor, daripada isu politik dan kesihatan kepada hal tadbir urus alam sekitar dan sosial atau
environmental and social governance
 (ESG).

Jangka masa pelaburan

Akhir sekali, penting untuk anda menyedari bahawa pelaburan dalam dana unit amanah ialah cara yang berkesan untuk membina kekayaan dalam jangka masa panjang. Pelaburan ini biasanya memberi ganjaran kepada individu yang kekal melabur dalam tempoh yang panjang dengan potensi pulangan yang lebih tinggi. Ini kerana pengurus dana melaburkan wang dana dengan tumpuan pada horizon jangka panjang, dan membiarkan pelaburan berkembang secara beransur-ansur.

Selain itu, horizon pelaburan jangka panjang membolehkan pelabur unit amanah mengatasi pasang surut kitaran pasaran dengan lebih baik. Sebagai contoh, krisis gadai janji subprima (
subprime mortgage crisis
) yang bermula pada Disember 2007 berlarutan selama 19 bulan, tetapi ia diikuti kemudian oleh pasaran yang mengembang untuk tempoh yang paling lama dalam sejarah, serta prestasi yang terbaik sejak Perang Dunia II berakhir.

Pandangan Azril dan Hann
: Cuba untuk kekal melabur dalam dana unit amanah selama lebih daripada lima tahun (jangka sederhana hingga panjang) untuk meraih pulangan yang lebih baik. Anda juga harus melabur dalam dana yang mempunyai potensi tinggi untuk berjaya – seperti Amazon, Facebook dan Alibaba – kerana ia akan memberikan keyakinan kepada anda untuk kekal melabur untuk tempoh masa yang lebih lama.

***

Setelah mengetahui beberapa perkara utama yang perlu anda perhatikan ketika menilai dana unit amanah, anda kini lebih bersedia untuk memulakan pelaburan anda. Ingat, setiap pelaburan juga ada risiko tertentu, tetapi jika anda membuat persediaan yang mencukupi, keyakinan anda ketika melabur juga akan meningkat.

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Boost Users Can Now Buy Google Play Codes Via Boost App

Boost users can now buy Google Play credit via their Boost app, allowing them to skip the hassle of registering a debit or credit card to their Google Play account. Offered as part of the #BoostGotYou “Stay At Home” edition campaign, this new service addresses the increasing demand for digital entertainment and games as Malaysians adopt a stay-at-home lifestyle to combat the spread of Covid-19.

Provided in partnership with global payments technology company, InComm Payments – who also manages Google’s physical and digital gift cards and codes – the Google Play codes are available on Boost at values ranging from RM10 to RM200. They can be purchased via the following steps:

Tap on the “More” tab, followed by the “Games” tile.

Tap on “Game Credits” to view and purchase from a list of available Google Play codes. You also have the option to “Gift It” if you’re purchasing these codes for family and friends.

Upon obtaining the code, you can then redeem it in your Google Play Store app via the “Redeem” option in the menu bar.

Once purchased, these Google Play codes can be redeemed at any time as they do not have a validity period. Upon redemption, you can use the credit on any paid services, including but not limited to movies, books, in-app credit, and new apps.

“With the year about to end, these Google Play codes make the perfect gift with our New Year offers. A gift for loved ones and friends to stay connected through games where it will keep all of us safe at home whilst enjoying the favourite games without limits, or enable your co-workers to purchase productivity apps or tools to better adapt to the work-from-home culture,” said Boost in its press release.

Boost had launched its #BoostGotYou campaign back in March, in an effort to help Malaysians cope with the Covid-19 pandemic. It offers a variety of digital services and solutions so that Malaysians can carry out various daily tasks – such as paying bills, buying prepaid top-ups, shopping for groceries online, and getting insurance coverage – with contactless convenience.

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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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B40 Singles Can Apply To Rent DBKL "Micro Homes" At RM100 Starting August 2019

(Image: Malay Mail
)

B40 singles working around the Kuala Lumpur area can start applying to rent Dewan Bandaraya Kuala Lumpur’s (DBKL) RM100 shared space unit from August this year.

According to Kuala Lumpur Mayor Datuk Nor Hisham Ahmad Dahlan, the urban housing programme’s first phase application will start in August and successful applicants are expected to start moving in from October. The first phase will accept 188 tenants while the second phase can accommodate another 135 tenants.

“We hope this will help lessen the burden among youngsters in need of accommodation in the early stage of their working life in the city,” Nor Hisham told reporters after reviewing the project in Jalan Tuanku Abdul Rahman (TAR).

(Image: EdgeProp
)

The applications are open to Malaysian citizens who are aged between 18 and 35, earn less than RM2,000 a month, work in the capital, and do not own a house or car.

RM7 million was allocated to renovate the interior of the two blocks of the seven-storey buildings used for this project, the mayor said. He added that the pioneer project will be expanded to other public places. “DBKL will also re-use old buildings for this purpose and among the areas being considered include around Chow Kit,” he said.

The DBKL Project Implementation and Building Management senior deputy director, Norzaini Noordin said the programme was based on the concept of shared space. Each floor of the seven-storey buildings contains four or five units of the “micro home”, measuring 7 metres square each. There will be three to six beds and cupboards in each unit. Tenants may add small furniture like tables, chairs, or racks but it should be within DBKL’s guidelines.

(Image:
NST
)

The facility provides bicycles and motorcycle parking space, lounge area, surau, launderette, reading area, pantry, and toilets. As previously mentioned, the “micro home” only provides sleeping and bathing facilities but does not include cooking.

Norzaini said people with disabilities (OKU) may also apply and they will be placed on the ground floor to facilitate their movements.

You can start looking out for the application to open on the official
DBKL website
.

(Source:
Malay Mail
)

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#JomTeksi: Passengers Can Now Pay Taxi Fares With TNG eWallet

Finally, you don’t have to worry if you or the driver doesn’t have enough small change when using local taxis. A new partnership between TNG Digital Sdn Bhd, EzCab, and Public Cab now allows passengers to use Touch ‘n Go eWallet as a payment method for taxis in the Klang Valley.

This partnership helps local taxi drivers to step up digitally and compete with ride-hailing services in Malaysia which offers the convenience of paying for their rides online. At the moment, around 4,000 EzCab and independent taxi drivers are equipped with QR code payment. TNG Digital is targeting 10,000 taxis to use the QR code payment system by the end of 2018.

(
Source:
Dewvation
)

“The QR-enablement by Touch ‘n Go eWallet for registered taxis in Malaysia will modernise taxi drivers and enable them to offer a convenient and safe payment option for commuters. I urge taxi drivers nationwide to adopt this cashless payment channel moving forward,” said Transport Minister Yang Berhormat Anthony Loke during the launch event.

Adopting QR payments is easier than one might think. Since there are no hardware or payment terminal necessary, taxi drivers only need the TNG eWallet installed on their phone – the passengers would do most of the work. To pay for their fares, passengers would need to scan the unique QR code of the taxi driver, enter the fare amount, and authorise the transaction with their 6-digit PIN code.

(Source:
Lowyat.NET
,
Focus Malaysia
,
Touch ‘n Go
)

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More DIY Car Maintenance to Save You Time and Money

Previously, we’ve shared with you some quick DIY car checks you can do before going on a long car trip:

Any car owner would agree that maintenance costs take up quite a chunk of their monthly expenditure. These expenses are necessary, of course, since it can get worse if we skip regular services and end up with a malfunctioning car in the middle of the road.

While we cannot avoid paying for car maintenance, there are a few easy procedures that we can do ourselves to reduce the costs. Read on for some handy tips on DIY car maintenance to save your hard earned money.

## Replacing a Flat Tire

Changing a flat tire may sound like the Hulk’s job, but it isn’t, even a woman on high heels can get it done easily (although we don’t recommend you wearing high heels when doing so).

You’ll need:

A jack

A wrench

A spare tire

Here’s how you can change your flat tire in less than 6 minutes:

## Changing Car Headlights or Taillights

There is no exact lifespan for these automotive bulbs, so the moment you notice the lights become too dim to be safe on the road, head straight to a hardware store to get the replacements and fix them in yourself. Trust us, this simple service may cost you a great sum of money if you get it done at the mechanic.

You can check your vehicle manual to decide on the models of your lightbulbs, the most common ones are Halogen, LED and HID.

Here’s a step-by-step instruction on changing a headlight bulb (it is the same for your taillights too):

## Cleaning Air Filter

By cleaning the air filter in your car regularly (approximately every 8000 kms), you will notice an improvement on gas mileage and the engine performance in overall. It is very simple to clean it yourself.

You’ll need:

A mini vacuum

Here’s a quick guide to clean your car air filter (note that you can use the vacuum in replacement of the mechanic’s air compressor)

## Replacing Windshield Wipers

Rain in the city is unexpected, and driving under the rain is no pleasant at all, even your car suffers from the heavy downpour. The most affected part is probably the windshield wipers as they are forced to run pass their efficiency at times. They often start making the chalk scraping sound on a blackboard after a while, and that’s when you know it’s time for a change.

You’ll need:

A new pair of windshield wipers (remember to take note of your old ones to make sure they are compliable)

Here’s a tutorial for you to follow:

On top of the common servicing that you can handle, it is important to prepare sufficient understanding on your car condition before sending it for full maintenance.

Learn a thing or two about your car today to save more in the long run. If you are a parent, it’s also a good opportunity to teach your kids about simple automotive care too! Looking to buy a a new car? Review and compare
the best car loans in Malaysia
 right here on RinggitPlus.

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Linh Pham

Linh Pham

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5 Ways How MIDF Invest Offers Malaysians A Secure Platform To Invest In US Stocks

A diversified portfolio is one of the keys to helping investors manage investment risk and maintain potential growth throughout market changes. That is why having a diversified investment portfolio is important, whether you’re a beginner or a seasoned investor.

Today, we live in a world where the number of
retail investors is rising
. This could be due to the many trading platforms made available and more accessible through digital technology. For example, instead of the traditional way of investing where one has to visit a brokerage, you can now easily trade on your smartphone.

MIDF Invest App by MIDF Amanah Investment Bank Bhd is one of the recently launched mobile apps designed to provide Malaysians with a convenient platform to diversify their portfolio by investing in US stocks and ETFs.

Here are 5 reasons why you should consider MIDF Invest.

The MIDF developers have recently launched a new version that addresses registration issues as well as provides a smoother onboarding process for customers.

The MIDF Invest App could be your next trading app if you’re looking to diversify your investment portfolio in US stocks through a secure, regulated, and affordable platform.

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Diversify With MIDF Invest

Trade US Stocks Securely

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TAGS:

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MIDF Amanah Investment Bank Berhad

MIDF Invest

About THE AUTHOR

Katrina Balan Quiroz

Katrina Balan Quiroz

Copywriter. Katrina is fueled by a need to turn a confusing wall of text into something comprehensible, and drip coffee.

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Maybank Lowers Annual Fee Waiver Spending Requirement For Selected Cards In 2021

(Image: The Star)

Maybank has announced that it is lowering the minimum annual spending requirement for selected credit cards this year. For the year 2021, the amount of spending required to waive the annual fee will be reduced from RM80,000 to RM50,000.

The credit cards that are eligible for the lowered waiver requirement are as follows:

Maybank 2 Cards Premier

Maybank World Mastercard

Maybank Visa Infinite

Maybank Visa Infinite Diamanté

Maybank Manchester United Visa Infinite

Maybank Islamic World Mastercard Ikhwan Card-i

Maybank Islamic Ikhwan Visa Infinite Card-i

According to Maybank, the move was made in response to its customers’ evolving needs among the ongoing pandemic. “This measure is a gesture of our appreciation for your support for Maybank Cards and we look forward to continue serving you,” the bank said.

Do note that the revision will take effect automatically for cards with anniversaries between May and December 2021. For cardholders with anniversaries from January to April 2021, the annual fee will be manually reversed on 1 April as long as the spending requirement is met.

(Source:
Maybank
)

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Maybank Visa Infinite

Maybank Visa Infinite Diamanté

Maybank World MasterCard

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Jacie Tan

Jacie Tan

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Government Allocates RM3 Billion To Finance Fuel Subsidies Until End Of 2018

The federal government has allocated RM3 billion to finance fuel subsidies to maintain the current retail prices of the RON95 petrol and diesel until the end of the year.

In a
press statement released June 7
, Finance Minister Lim Guan Eng said the government has decided to keep the retail prices of RON95 petrol and diesel at RM2.20 and RM2.18 per litre respectively for the rest of 2018. “The government will subsidise 33 sen per litre for all retail purchases of RON95 and diesel for this week. Without the subsidy, the price of RON95 and diesel would rise to RM2.53 and RM2.51 per litre respectively,” Lim added.

Meanwhile, RON97 petrol will be subjected to a float system as mentioned by
Prime Minister Tun Dr Mahathir Mohamad
. RON97 is priced at RM2.66 per litre until June 13.

The move to subsidise RON95 and diesel for the rest of the year is part of the new government’s effort to fulfill its 10 promises in 100 days as stated in its manifesto. This move is also a move to reduce the financial burden of the rakyat.

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UOB dining perks at Okomen

Okonomiyaki. Prawn tempura.

Chicken curry don and sake. Are you hungry yet?

Well get off your computer and head down to
Okomen
, Desa Sri Hartamas

for a hearty Japanese meal. Don’t forget your UOB credit card as cardmembers

are entitled to 15% off ala carte items when they spend a minimum of RM40 on a

single receipt.

This offer is available to all UOB credit cardmembers and

valid until 31 December 2013. Promotion is not valid with other offers,

promotions, discounts, set menu, functions, special events and loyalty

programmes. For further information please refer to the
Terms

& Conditions
 page.

Did you know credit cards are a great way to secure a

personal loan? Find the right one for you on
RinggitPlus.com
.

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Brendon Lee

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Pro-tips From Seasoned Buyers on Buying Property

Do you feel like being a property investor? Or perhaps you would just like to buy property knowing you made the right choice. The thought of buying a new house could feel like a daunting undertaking when you’re not entirely sure what to ask and read up on.

Seasoned buyers tend to have a very good grasp on the concept and have an idea of what they should be looking for when purchasing a house. The list below may not apply to all, but a former real estate agent shed some light on what the seasoned players look into when buying a property.

Are You Buying for Own Occupation or Investment?

The first thing you need to consider when buying property is to classify it as an investment or something to be used for yourself.

If the property is going to be an investment then you would be less concerned about a lot of factors, as long as the unit is able fetch a good number of tenants and have a good return on investment. If you are intending to buy the unit to live in, the variables change significantly and a lot of wants and needs should be taken into consideration.

For example, people seeking to buy for rental income tend to focus on the rent price the area fetches and nearby amenities such as an LRT station or shopping mall. You would care a lot less about the quality or developer workmanship of the house/unit.

Though amenities will still play a role when you are buying a home for yourself – you’d certainly pay much more attention to the condition of the house/unit than you would the possible rental returns.

Know the Title Type

Familiarise yourself with the type of property title attached to the said unit or house you are looking to purchase. If the unit has a freehold title, you will be able to purchase it with no restrictions. If you are looking at leasehold units, be sure you know how many years are left on the lease because a renewal can be very expensive.

Banks have a restriction on the minimum number of years remaining on leasehold titles that can be financed so do cross check the details with your respective banks. In general, banks would consider properties which have a minimum of 50-60 years remaining on the lease for resale.

If you are a non-Bumiputera looking to buy pre-owned property, make sure you check if you are purchasing a Bumiputera unit. It takes a significant amount of time to apply for a title change a Bumiputera title to a non-Bumiputera title so avoid the hassle where you can. Do bear in mind, on some occasions, after two years the title application may still be rejected and you would have to start property hunting all over again.

Where Should Your House Face?

North, South, East ,West? That depends on how much weight you personally put into Feng Shui or any other such beliefs.

In general, for a condominium, apartment or any other high rise accommodation, the better alternative would always be the view of the swimming pool. At this point you probably think it is for the view of the lovely ladies in their bikinis. Well, that is just a plus point.

When buying a unit, the sellers are bound to promote the beauty of the greenery outside or the amazing view of the KLCC skyscraper building from your balcony. While, the view may be breath taking now, there may be future building plans that may come up in a few years, which takes away that view you initially thought you were buying.

Even if you are buying to rent or sell later on – taking note of nicer views and Feng Shui pleasing placement can fetch you a lot more than if you paid no attention to these things.

Proximity to Public Transport

This is something that most people are all too familiar with. When buying a unit, they are concerned about having public transport close to them which gives them ease of accessibility. Being an investor or home owner, this may seem like a good selling point until you live through the horror.

Being too close to the action may diminish the value of one’s property. The noise factor that the train station emits and the shaking grounds you may feel on occasion, may help rock the baby to sleep but will definitely wake you up at 6am when their operations begin everyday (weekends included!).

Situations such as these tend to put pressure on price as many people do not want to buy a unit such as that to live in. As a rule of thumb, a five minute walking proximity from the property to public transport would be ideal.

High Floor vs Low Floor

People tend to get their thoughts in a twist if they should purchase a unit on a higher or lower floor.

Units on the higher floors tend to enjoy better privacy as they are not affected by beaming lights, people staring down into their units and further away from the passing vehicles honks and engine noises.

Lower floors tend to have the added worry of security concerns as they are more susceptible to break-ins and robberies. The units on the lower floors are easier to access through balconies and windows as compared to higher floors. On the bright side, in case of an emergency like a fire you have the upper hand of getting out of the building first.

If you’re looking to invest and rent it out, you might not concern yourself on what floor you are obtaining your unit. On the other hand, if you are intending to stay there, it would boil down to what you preference is.

Renovation Cost

The renovation cost factor would ultimately be determined by the fact if you have chosen to live in the unit yourself or not.

If the unit is going to be bought for investment purposes, it will less likely be renovated as the tenants who rent would not require the extra designs. The only minor renovations you may encounter is to fix up the unit for leakages, painting of the unit and other minor jobs.

There are some owners who choose to fully renovate investment units as well. A properly renovated unit could fetch a higher rental fee as well as a higher selling price. The problem with renovating, it may cause the owner some difficulty when selling or renting the unit as it drives up the asking price.

However, if the unit is going to be bought for your own use, then the renovations cost needs to be considered as part of your initial investment (if required). This would ultimately affect your overall budget and monthly mortgage commitments.

Take Note of Superstitious Malaysian Beliefs in Reference to Your Unit

Malaysians tend to be a little queasy about particular superstitious beliefs and this can differ from culture to culture but knowing some of common ones will help you make the right decision about your home/unit.

For instance, houses facing T-junctions are a general no-no; unit, house or floor numbers with a 4 or 13 (although, some developers are now renumbering these bad luck numbered units and floors to help you out); places near cemeteries or facing cemeteries; or even places rumoured to be haunted or the scene of a violent death or suicide. Although the latter will be easy to cover up in time; some records may exist to cause trouble when you want to sell or rent your unit.

Not everyone may be sensitive to these things and we’re not saying you won’t ever find a renter or buyer if you did buy any unit/home with the above ‘afflictions’ but it may just make your unit/house just that much less attractive than others in the market. Of course, if you plan to live in it forever and ever with no care for resale value; the choice is yours.

Feeling Like a Seasoned Player Yet?

The pointers above won’t make you a full-fledged qualified property investor but it may give you some insights on what to look out for when you take on your next purchase.

There are many factors to be considered when buying a home, it is important to take a little time to weigh the pros and cons on some of these factors. Different people would have needs and wants and therefore the factors when picking out a home could vary significantly.

As the article in
The Star
 mentioned how property prices are begining to stabilise, it may be a good time to sharpen up your skills and start hunting for your next purchase.

Have a few better points? Share with us your point of view and what do you consider important when looking at a property in the comments section below.

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Gavin Pereira

Gavin Pereira

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    Joseph Martial

    3 years ago

This tips are on point and will be very useful for people planning to own their home.

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    ROZIANA BINTI ABDUL AZIZ

    10 months ago

Quite unique and quite complete in accordance with the distinctive changes according to the sunnah.

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Malaysians Can Now Check Eligibility For Bantuan Sara Hidup On MyBSH

Malaysians can now log on to
MyBSH
 to check
 on their eligibility for the first Cost of Living or
Bantuan Sara Hidup (BSH)
 payment.

BSH is a cost of living aid that the government established to ensure the wellbeing of Malaysians by aiding the B40 group with their living cost. The BSH payment is supposed to benefit about 4.1 million households with the first phase of payment worth RM300 each.

Citizens who would like to check on their eligibility for BSH can log on to MyBSH and key in their identification card (IC) number. Once you’ve done that, you should be able to see if you are eligible for the first BSH payment. However, if you encounter “no record found” or your TAC request is denied, do contact 1-800-88-2747 for more assistance. The first BSH payment will be credited into the recipients’ bank accounts on 28 January 2019.

Finance Minister Lim Guan Eng mentioned that there will be a
screening process
 that will take some time to remove names of unqualified citizens that don’t belong in the B40 group. In the meantime, the first BSH payment will be made by using the old Bantuan Rakyat 1Malaysia (BR1M) database to make sure the payments are credited into recipients’ bank accounts. Finally, recipients can start updating personal details on the MyBSH website from 1 February to 15 March.

(Source:
Says
)

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Olivia Song

Olivia Song

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What Is Takaful Coverage & How Does It Work?

While most of us would instantly understand the concept of insurance, many also generalise or over-simplify the concept of takaful as a Shariah-compliant variant of conventional insurance. In reality, despite the objective being similar, the takaful concept is actually quite interesting.

Takaful is financial planning and coverage that’s compatible with Islamic law. If you take up a takaful certificate, your money or donation is pooled with that of others, and managed on your behalf by a takaful operator. There is growing interest in takaful coverage in Malaysia, where takaful penetration rates have increased from
14.8% in 2017
 to
16.4% in 2020,
 and is expected to continue its upward trajectory in the coming years.

However, there are still many people who are still uncertain about what it really is. Some people assume that takaful is an Islamic product open only to Muslims, while others believe it is a bundled version of insurance (since a majority of takaful companies offer family takaful products).

So what exactly is takaful coverage, and how does it work? Let’s start with a simple breakdown of the terminology and concept, before covering other aspects of takaful products available in Malaysia.

What is Takaful?

The concept of takaful is derived from Islamic teachings based on the spirit of brotherhood and love for one another. While conventional insurance is in no way illegal, there are certain aspects of it that breach Shariah ruling. Conventional insurance involves a straightforward sale and purchase of an insurance contract. While Takaful is an arrangement based on
Tabarru’
 contract (donation) and mutual assistance.

The contract involved between a Takaful operator and its participant is known as
Wakalah
and it must be free from
Riba, Gharar
, and
Maisir
. What do these Arabic words mean?

Riba

– Refers to any increment incurred upon specific usurious items and upon debt, due to the deferred payment term.
Riba
 in insurance can be found when the insurance company pays a sum of money to the insured who has suffered with peril where the amount of money paid by the insured to the insurer is not equal to the compensation received.

Gharar

– Refers to uncertainty in regard to the subject-matter being contracted where in insurance,
Gharar
 is triggered the insured purchases coverage for the insured event that may occur or not.

Maisir

– Refers to elements of gambling or games of chance where in insurance, the insured loses the money paid for the premium when the insured event does not occur, and the insurer will be in deficit if claims are higher than collected premium.

Gharar
 and
Maisir
 are very much interrelated, in that they correspond to anything that leads to too much uncertainty and an inability to clearly define terms or conditions of its dealings in the insurance contract.

To simplify how their investment portfolios work, a takaful provider can only invest in
Shariah-compliant
businesses and are not allowed to invest in companies that deal in interest, alcohol, gambling, or provide too much uncertainty.

How Does Takaful
Coverage
 Work?

Just like conventional insurance policies, takaful certificates require an individual to set aside some funds for the coverage provided in the certificates. However, takaful certificate owners donate money through contributions, in the spirit of mutual protection and cooperation.

These donations are known as
Tabarru
. The donations are pooled and managed by the takaful provider to support those in need, similar to the concept of risk pooling in conventional insurance. Whenever an unfortunate incident happens, the pool uses its resources to provide financial aid to the unfortunate few. This pool, of course, is constantly replenished from the donations made by the takaful certificate owners.

Meanwhile, the takaful providers invest these funds to generate returns through Shariah-compliant methods. Some of these returns are also passed back to the certificate owners in the form of rebates upon renewal of their plans.

As such, takaful products are in no way inferior to conventional insurance products – they both offer similar levels of coverage (which is of course based on the product chosen and
Tabarru
/contribution paid). The claims process and payout duration are also handled similarly.

What Types Of Takaful Products Are Available?

Essentially, there are takaful variants for every conventional insurance product in the market – which ensures there are no gaps in coverage for those who prefer takaful plans. From term life, whole life, medical, and critical illness, to general takaful plans including motor vehicle and home protection, most takaful providers will offer these plans at similar rates to conventional insurance companies.

In addition, one unique offering by takaful providers is the family takaful plan. As mentioned earlier in the article, family takaful is basically a bundle of several takaful certificates to provide coverage to the entire family. It is designed for the breadwinners of the family and makes it more convenient for them to oversee and manage the household’s takaful coverage needs. Moreover, family takaful plans are also more affordable compared to signing up individual plans for each family member.

Additional Benefits

Certain takaful certificates also offer rebates at the end of the term or upon renewal to the certificate owner. Surpluses in the collective fund at the end of the term will be distributed to the participants of the pool on an equal basis.

The second benefit that one receives is non-monetary and is more spiritual. Through the act of donation, participants of the funds will receive blessings and rewards from God.

Introducing FWD Takaful

Takaful plans are not exclusive to Muslims and therefore, a practical and viable option to explore for everyone. If you are interested in getting takaful coverage, FWD Takaful offers a wide range of plans to cover your needs.

FWD Takaful provides an online distribution channel that is convenient with affordable and simple products for consumer’s participation. The online distribution channel carries a range of products which includes term life, hospital cash income, critical illness coverage as well as a plan for children with learning disability. The plans are made for the consumption of consumers from all walks of life, from individuals, families as well as for the underserved.

Exclusive for RinggitPlus Blog Readers

RinggitPlus has collaborated with FWD Takaful to provide exclusive benefits for all RinggitPlus Blog readers! From 15 August to 31 December 2021, you can enjoy one of the following benefits:

With the promo code
FWDR50
, get 50% off your first-month contribution payment for monthly payment mode
With the promo code
FWDR10
, get 10% off your first-year contribution payment for yearly payment mode.

Simply enter the promo code at checkout to enjoy the discount. This offer is applicable to the following FWD Takaful plans:

FWD Big 3 Critical Illness Protection Plan
, a critical illness coverage plan
FWD Protect Direct
, a pure coverage takaful plan
FWD Care Direct
, a cancer coverage plan
FWD MedSecure Direct
, a hospitalisation income plan

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About THE AUTHOR

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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The Types of Loans Every Business Owner Should Know

Whether you’re a Small Medium Enterprise (SME) or a Multinational Corporation (MNC) business owner, there are always ways for you to finance your business – be it to boost your capital for business growth, invest in new business ventures, or even to acquire new properties.

But there are quite a few types of business loans out there, and even if you can get advice from your preferred bank on which new and popular product you should apply for, how will you know if it’s
really
 the best option for you and your business?

Here’s where we can help. We understand how important it is to choose the right loan to minimise the costs (such as the fees and interest charges) and secure your company’s financial future. Therefore, we’ve compiled these
four most common types of loans that can help your boost business
.

Read Also:
What You Need to Consider Before Buying a Property for Small and Medium Enterprise (SME)

Term Loans

As a business owner, you need sufficient capital to keep your business running and of course, expand it over time. That is why most banks offer
term loans
 that are often
larger in amount
 (compared to other types of loans) with varying tenure. This type of loan is often
repaid on a monthly basis
 within a specific repayment tenure.

Traditionally speaking, there are two types of term loans; collateral and collateral-free term loans. They often work in similar ways (in terms of repayment plan and loan tenure), but the former offers higher loan amounts compared to the latter.

If you’re looking for a large business loan amount, try
BizPower SME Business Loan by RHB Bank
. It offers up to RM2 million loan amount with up to five years of tenure – a great option to kick start your business’s growth – provided your SME business has been operating for at least two years. Otherwise, you can opt for
BizPower P.I.N.T.A.S by RHB Bank
, which offers loan amount of up to RM500,000 without collateral.

If you’re looking to invest in a property or refinance your business property instead, perhaps business property loans such as
BizPower SME Property Loan by RHB Bank
 is more suitable for your business needs.

Tip
: Long-term loans usually require documentation, so be sure to keep all your important business documents such as a valid business license, permits, as well as tax records in order.

Short-Term Loans for Working Capital

Short-term loans or working capital financing are generally loans that help
boost
 your
cash flow
 to finance your business’s daily operational activities (such as staff salaries, daily payables, utilities, and so on).

It’s a great help for businesses that have
seasonal sales cycle
 (such as manufacturing or retail companies that can only hit their target sales depending on the season) or businesses that have cash flow problems due to payment delays from clients. There are several types of loans under this category, such as:

Overdraft
 – It’s a type of credit facility or loan that is attached to your business’s current account that allows you to
withdraw funds beyond your credit limit
 to help finance your daily operational needs. The overdraft amount will be subject to daily interest charges, though, so be sure to repay them as soon as you can! Some business loans like
BizPower SME Business Loan
 also offer Overdraft facility for when you need the extra cash to run your business smoothly.

Revolving credit
 – This flexible credit facility allows you to withdraw funds in times of need. There’s usually no fixed number of payments, you can choose to either
pay the total loan in full
 by the end of the loan tenure or
roll over the loan amount
 by renewing your loan tenure and pay only the owed interest.

Tip:*
 Do note that short-term loans for working capitals are typically for
low amounts
 – some are even limited to only RM100,000 – and generally have a
higher interest rate
 than a long-term loan. Although they’re a good credit facility to have in times of low cash flow, try not to depend on them too much to avoid high interest charges.

Trade Financing Facilities

If your business involves domestic and international trading (export and import), you might find trade financing useful to help support your transactions. One of the most common trade financing facilities is
Letter of Credit (LOC)
, which acts as a written commitment given by a bank as a method of payment.

Others include
Shipping Guarantee (SG)
,
Bank Guarantee (BG)
,
Trust Receipt (TR)
, as well as
Banker’s Acceptance (BA)
. There are quite a few trade financing facilities offered by the banks in Malaysia, including
RHB Financial Supply Chain Portfolio Guarantee (FSCPG)
 by RHB Bank.

Alternative Financing

Of course, by no means are the three aforementioned financing options the ones open to you. As an entrepreneur, you have a plethora of financing alternatives open to you. All you need to do is be more proactive in your research and get creative.

For example, if your business is still young or at a starting stage, you can opt for
personal loans
,
credit card cash advances
 (just be mindful of your credit card’s interest rate),
loan from friends or family members
,
fundraising
, or selling your
assets
.

But, no matter which option you choose to take, be sure to learn all you can about the fees and charges involved to avoid any financial issues in the future. Read the fine prints, ask around, research, and be absolutely sure of your choice before applying for your business loan.

We hope this article shed some light on your search for which business loan is best for you. If you’re looking for more tips and insights on how to manage and elevate your SME business, just head to
RHB’s SME Knowledge Center
 today!

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

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Syaza Abd Jani

Syaza Abd Jani

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HSBC Campaign Offers Exclusive Prizes, Including Holiday Package Worth Up To RM30,000

HSBC Bank is currently running its Travel CashBonanza campaign, where eligible cardholders stand a chance to win a holiday package for two worth up to RM30,000 as the grand prize. Set to run until 30 September 2023, there are also monthly and weekly prizes of RM2,000 and RM80 cashback to be won, respectively.

Open to all HSBC and HSBC Amanah credit cardholders, the mechanics of this campaign is pretty straightforward. Those who wish to win the grand and monthly prizes will need to earn entries by performing specified transactions and banking activities. Meanwhile, weekly prizes can be won when you spend a cumulative minimum of RM1,000 on your card in a week on groceries, dining, and/or online expenses (including local and foreign currency transactions, as well as e-wallet top-ups).

Here are the key details regarding the prizes that are up for grabs:

Prizes
Details
Allocation
Grand prizes
One holiday package (for 2 pax) worth up to RM30,000 with Holiday Tours Sdn Bhd or Sedunia Travel Sdn Bhd
2x for entire campaign
Monthly prizes
RM2,000 cashback
– 15x per month
– 60x for entire campaign
Weekly prizes
RM80 cashback
– 145x per week
– 27,500x for entire campaign

To earn entries for the grand and monthly prizes, you can go ahead and carry out any of the following transactions:

Transactions/Banking activities
Number of entries
Every RM100 eligible spend in local currency
1
Every ApplePay/Google Pay transaction
2
Every RM100 equivalent eligible spend in foreign currency
10
Every approved balance conversion plan or cash instalment plan
10
Perform one transaction* with a new** or renewed HSBC/HSBC Amanah credit card (except the HSBC TravelOne credit card)
* No minimum spend

** Includes credit card applications made before the start of the campaign, but activation is done during the promotion period
10
Perform one transaction* with a new HSBC TravelOne credit card
* No minimum spend
20

Note that qualifying transactions for this campaign include all local and overseas retail transactions (online and QR payments as well), 0% instalment plans, as well as e-wallet top-ups. Payments such as balance transfer instalments and cash advances, on the other hand, are not considered eligible.

HSBC also clarified that all cardholders are only allowed to win either 1x grand prize or 1x monthly cashback reward, in addition to 3x weekly cashback rewards throughout the whole campaign period. So this means that if you are already selected as a monthly prize winner, then you will not be able to win the grand prize.

To select the winners of the grand and monthly prizes, HSBC will use a randomiser programme to first shortlist a group of eligible cardholders, who will then receive a notification SMS within six to ten weeks after the end of the campaign period. They will also receive a question that must be answered correctly within three days from the day they receive it; those who do so the fastest will be named the winners. The weekly prizes, meanwhile, will be provided on a first-come first-served basis.

If you are lucky enough to win the grand prize, you’ll receive the details of your reward and the authorised travel agency within two weeks after being selected. Monthly and weekly cashback winners, on the other hand, will see their cashback rewards credited into their accounts within six to ten weeks after the end of the campaign period.

Finally, those who wish to join this campaign to win the grand and monthly cashback are required to register their participation. You can do so either by sending an SMS (
N9<space>last 6-digit of your participating credit card
) to 66300, or by following the instructions in the invitation SMS or email sent to you. As for those who would only like to win the weekly cashback prizes, no registration is necessary.

(Source:
HSBC
)

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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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Property Purchase: Lifestyle Goals vs Financial Goals? Why Compromise?

Exclusive Living & Lifestyle

Oftentimes, people want the “perfect” setting for their dream homes, and for many, this has extended beyond the four walls of the property and into features and facilities offered in the neighbourhood. After all, this is a lifelong investment – who wouldn’t want to get the best possible value?

One would want great views, plenty of nature and greenery to enjoy a relaxing weekend, yet be a short drive away from the city. For nature lovers they would want a scenic park to work out or to walk their pets or just pass the evenings enjoying the crisp fresh air. As a generation that is always on-the-go, many expect an eclectic mix of stores at their doorstep so they never truly have to leave the neighbourhood for everyday needs.

For young families, it’s about the security of the area and they want the best for their children by providing them with a decent education. And on top of all that, they expect additional value-added facilities such as swimming pools, leisure spots, and more.

In short, many individuals and families, seek a home and neighbourhood that will match their desired lifestyles. If the above sounds too good to be true, it isn’t – this dream lifestyle can be yours at Paisley Serviced Residences at Tropicana Metropark.

About Tropicana Metropark

Tropicana Metropark is a freehold 88-acre mixed development that lies within the exclusive enclave of Subang Jaya – an affluent, suburban city in Klang Valley. Comprising of residential gems, business spaces, retail hotspots, an educational institution and recreational areas including a 9.2-acre Central Park to call its own, Tropicana Metropark nurtures a holistic lifestyle for complete urban living.

Getting to your destination is a breeze, with the Federal Highway directly connected to Tropicana Metropark via the RM106mil purpose-built Tropicana Metropark Link.

At the centre of this urban township is the 9.2-acre Central Park, a recreational oasis crafted with lush landscapes and family-centric features that offer residents a quick escape from the hustle and bustle of the city. Waterside pathways, jogging tracks and scenic bridges meander around and through the park to integrate all the components of the township.

The world’s biggest private education provider has also set up its campus within Tropicana Metropark. GEMS International School’s 252,000 sq.ft. campus provides a stimulating and supportive learning environment for children aged from 3 to 18 years old.

True to its spirit of holistic living, Tropicana Metropark’s commercial hub, Shoppes (South), comprises of 69 units of Shoppes with a typical built-up area of 24’x70’ and a grocer anchor tenant to attract footfalls.

Designed with the community in mind, this lifestyle hub aims to introduce a refreshed retail concept not only for Tropicana Metropark’s community, but also the surrounding neighbourhoods of Subang Jaya, Shah Alam and Glenmarie. The parkfront alfresco area creates a unique experience for people to enjoy dining and fulfilling their lifestyle desires with a one-of-a-kind ambiance.

Situated at the centre of the master plan, Paisley Serviced Residences is a collection of high rise homes with built-up areas ranging from 601 sq. ft. to 1,491 sq. ft., fronting the heart of the Central Park. Residents here enjoy an elevated lifestyle with a range of resort-style facilities designed for their exclusive use.

Despite the large 88-acre development size, Tropicana Metropark has been designed so that all you need to live, play, and work are within walking distance or just a short drive within the neighbourhood.

Residential & Commercial Property Purchase Made Easy

Paisley Serviced Residences, start at RM498,000 onwards. Owning a unit here is as easy as it is affordable, with two methods available to potential homebuyers:

A low down payment and zero-interest instalment plan, or

Own a unit from just RM1,525 a month with Houzkey by Maybank Islamic. Get 100% financing, 1% move-in cost, and lock in today’s price of the property.

The freehold shop units at Shoppes (South), Tropicana Metropark are open for sale with low entry and high potential returns. On top of that, there is a 2-year rent-free programme being offered for suitable businesses.

Take a look at this video to envision the lifestyle you deserve while making a savvy financial decision. Like we say, Lifestyle Goals – check! Financial Goals – check! You don’t have to compromise by owning a unit at Tropicana Metropark.

To find out more about Tropicana Metropark and the investment opportunity in this neighbourhood, check it out at
Paisley Serviced Residences
 and
Shoppes (South
).

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Fly to Seoul, Tokyo or Beijing at Half-Price. Only with Hong Leong Bank

Travel enthusiasts will want to clear their calendars, Hong Leong Bank is offering round trip tickets for two to major cities in China, South Korea, Japan, Taiwan and Hong Kong at half price.

This
offer
 is open to all Hong Leong Visa credit cards and applies to flights booked via Cathay Pacific or Dragonair up until 15 November 2013.

This promotion is valid until 31 May 2013. Please note that all departing and arriving flights are scheduled for Kuala Lumpur, Penang and Kota Kinabalu. Only business class is valid for the Buy 1 Fly 2 deal for flights to Hong Kong.

Please read the
Terms & Conditions
 carefully for full pricing.

Thinking of getting a Hong Leong credit card for your travel expenses? You’re in luck just click
here
.

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Several Maybank Branches Are Temporarily Closed Due To Ongoing Floods

(Image: The Star)

Maybank has alerted the public that several of its branches have been affected by the ongoing flood that is happening in several states within the country. Consequently, these branches will be closed until further notice.

In its announcement via a Facebook post, the bank advised its customers to first check the
full list of operating branches
 on its official website before venturing out to visit a branch. “You may also perform your essential banking via Maybank2u (mobile and app), the all-new MAE app, Maybank2u Biz and Maybank2E from the safety of your home, or visit other Maybank branches and/or self-service terminals which are operating,” said Maybank.

(Image: New Straits Times)

If you’re in need of additional assistance or more clarification from a bank representative, however, the bank said that you can also contact its customer care centre at 1-300-88-6688. “We apologise for any inconvenience caused, and thank you for your understanding and patience. For those affected by the floods, please stay safe!” said the bank.

Currently, several states in the country are facing massive floods due to an incessant bout of
heavy rain that was brought on by the onset of the winter monsoon
 since the start of 2021. Affected states include Pahang, Terengganu, Kelantan, Perak, and Johor – with
Pahang seeing the worst of it
. In Pahang alone, as many as 5,032 families have been forced to evacuate their homes as of this morning.

(Sources:
Maybank
,
The Edge Markets
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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KPMG: Malaysians Ready To Embrace Digital Banking

According to a survey by KPMG, Malaysian consumers are ready and willing to embrace digital banking. Of the 1,220 respondents in Malaysia, 77% believe that digital banking is the next evolution in financial services.

82% of respondents said that they are already using the internet banking function of their banking service provider. Furthermore, 82% of respondents said that they are willing to open a bank account through online platforms – as long as they are regulated by Bank Negara Malaysia.

Head of Financial Services at KPMG Malaysia Adrian Lee said that the changing socio-economic landscape has altered customers’ money management and spending patterns as well as the way businesses are run. The mode of payments and channels of financial management are also changing too.

Lee added that the recent customer behaviours in both retail and commercial sectors during the Covid-19 pandemic have evolved in support of digital banking services. “As customers and businesses seek alternatives to safely run operations, the potential is great for digital banking to be the next success story for the financial services sector in Malaysia,” he said in a statement.

Last year, Bank Negara Malaysia (BNM) announced that it will be giving out
five digital banking licences
 to qualified applicants to establish digital banks. According to Lee, it is widely anticipated that BNM will see a large number of applicants for the licences due to lower entry requirements in minimum capital and significant market opportunities. Currently, the known contenders for BNM’s digital banking licences include
Axiata Group
,
Razer, Grab, AirAsia
,
AMTD
,
Sunway
, and the
Johor state government
.

“Given the emphasis BNM has placed on financial inclusion, the successful applicants will be the ones that demonstrate how their products and services will help the underserved and unserved segments rebuild themselves financially,” said Lee.

(Source:
Business Today
,
KPMG
)

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Malaysia’s Unemployment Rate Down To 3.7% In July 2022

(Image: European Pressphoto Agency/Ahmad Yusni)

The latest labour report from the Department of Statistics Malaysia (DOSM) indicated that Malaysia’s unemployment rate has improved to 3.7% in July 2022 from
3.8% in June 2022
. Correspondingly, the total of unemployed individuals also decreased by 1.6%, down to 620,700 persons from 630,600 persons last month.

A total of 83.4% of the unemployed group is classified as actively unemployed, which is described as those who are unemployed but are actively job searching. This translates to 517,400 persons, down from 528,500 persons from the previous month. Meanwhile, 16.6% of the unemployed group is categorised as inactively unemployed – those who are unemployed and believe that there are no job opportunities available – totalling to 103,300 individuals. This is a slight bump up as compared to 102,100 persons in June 2022.

As for the employed person group, the number of Malaysians who are working in July 2022 recorded a positive growth of 0.3%, which is equivalent to 15.98 million people in July 2022 compared to 15.94 million people in the past month. Of this number, 76% of this group are categorised as employees – up 0.2% from 12.13 million persons in June to 12.14 million persons in July – while the remaining individuals fall into other categories, such as own-account workers (17.5%), employers (3.4%), and unpaid family workers (3.1%).

Minister in the Prime Minister’s Department (Economy), Dato’ Sri Mustapa Mohamed attributed the stronger labour market to Malaysia’s improved economic position in the second quarter of 2022, with an economic growth rate of 8.9%. “For the first half of 2022, the national economy grew by 6.9%. Upon the government’s decision to open its doors on 1 April, there was increased economic and social activity. This has had a positive impact on the country’s labour market which has created more jobs and business opportunities,” he said.

Dato’ Sri Mustapa also said that the recovery in labour market is supported by government initiatives. These include the inception of JaminKerja – Employment Incentive Programme (JKIP) and the national jobs portal, MyFutureJobs.

Moving forward, the country’s unemployment rate is expected to improve further in the third quarter of 2022. “The increasing rate of 4.7% for the third quarter of 2022 from 3.5% in the second quarter of the year is a sign of confidence which depicts that the economic situation is expected to improve in the third quarter this of this year,” Dato’ Sri Mustapa said, referring to Malaysia’s business confidence indicator.

(Sources:
DOSM
,
Business Today
)

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Alex Cheong Pui Yin

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What is a Survivor Clause and Why Should You Have One?

Death is a sensitive word to many; and, when it does happen, they struggle to sort themselves out as they aren’t financially prepared for what’s to come. The
StarOnline
 reported that close to two million inheritance claims valued at RM45 billion are still frozen by various agencies due to a lack of legitimate trust or inheritance instruments.

This happens because people don’t always prepare wills as they should and now the money is stuck until the Courts of Probate can decide how to distribute it. But, there is a way around it. Survivorship clauses aren’t known to many but they could mean the saving grace you need when a loved one who is a joint asset owner passes intestate (meaning without a will). Let us give you the basics on these clauses and how they can help you plan for smoother inheritance distribution.

First, What is a Survivorship Clause?

This clause may not always be called a survivorship clause in every agreement but the purpose is the same. It aims to give the surviving party rightful claim to asset distribution from shared accounts, property ownership, and life insurance. For example, let’s say Jane and Maurice have a joint account together. The survivor clause in their joint account would allow Jane to have her share of their joint account should Maurice pass on. Whether you are a surviving spouse, child or parent, the survivorship clause enables you to lay claim on the jointly owned asset.

Similarly, a joint ownership agreement will have a survivorship clause in terms of property ownership. This clause then gives the surviving owner the right to inherit the property in full should the other owner pass on.

Let’s say Maurice and Jane decided to buy a new condominium together. They agree on a joint ownership and both their names will be listed in the agreement. With that said, if Maurice passes on, his right to the property will be transferred to Jane. Unless the will states otherwise, Jane will have full ownership rights to the property.

Why is it important?

Normally, a joint owner’s interest can be protected by both parties preparing a will. This ensures smoother distribution no matter which party passes away first. However, if there was no will or if it was improperly made as to cause the courts to delay disbursement until matters are cleared; the surviving joint owner may find themselves locked out of controlling the asset in question. If the joint asset is a checking account with a couple’s life savings and fund, this situation could be dire indeed.

As a desperate measure, getting a
thumb print
 from the deceased to legalise a new will probably isn’t the best way to go about it. Of course, the closest kin could go about trying to obtain a letter of administration but this long and dragging process of 2 – 5 years will not help a family in need of financial assistance.

In such an instance, a survivorship clause could help. The surviving joint owner of the account or property could easily take control of the asset without lengthy court interference.

But the problem is, not all joint bank accounts or joint agreements contain the equivalent of a survivorship clause. As such, you’d do well to ask your bank or lawyer if such a clause exists and if not; how soon you can set about getting it included.

Better Late than Never

Now that you’ve know the usefulness of this clause, take a look at your accounts and agreements. Does it contain such a clause? If not, best to talk to your lawyer or banker about it. Even in the worst case scenario, if you cannot include the clause, you now know how doubly important it is to write a will for your family’s benefit. The last thing you want is to cause your loved ones financial hardship during the trying time of your demise.

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Bank Islam credit cards-i make shopping more affordable

Want to get yourself or a loved one something nice but don’t feel like burning a hole in your pocket? Well, Bank Islam’s Easy Payment Plans for its credit cards-i have just made your wish come true.

Whether you’re going for
the latest accessories
,
mobile products
 or
other electronic gadgets
, their EPPs will save you from the financial burden of making lump sum payments. Plus, many of the products on offer are sold below market price.

Should you get hit by a case of buyer’s remorse, worry not as you have a 10 working day cooling-off period to return your purchased goods. Happy shopping!

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MX Global: Investors Encouraged To Explore Digital Assets As New Investment Alternatives

{“key”:”jm1″}

The chief executive officer of digital asset exchange MX Global, Datuk Fadzli Shah has urged Malaysian investors to explore new investment alternatives that will offer growth in the era of digital finance and asset moving forward, such as cryptocurrencies. This comes as the country undergoes rising prices and inflation trends, as well as diminishing traditional investment options.

According to Datuk Fadzli, fiat currency has been experiencing a weakening of power over the past two years, whereas cryptocurrency saw a huge increase in acceptance in many countries. Malaysia itself has almost a million active cryptocurrency traders, indicating that cryptocurrency trading is gradually gaining traction in the local investment landscape.

Given this development, Datuk Fadzli believes that there will be a need for cryptocurrency trading to be further regulated for its continued expansion and to instill more confidence among Malaysian investors. As such, he foresees more licences for digital assets to be rolled out in the future, along with an increase in local regulated exchanges.

“We have a financial system that has been here for years, so it is understandable that there are investors who are still sceptical over the concept of cryptocurrency, and that is why it is important for us regulated exchanges to keep investors informed on what it is, the benefits, and the safe and danger zones of this relatively new digital asset,” said Datuk Fadzli in a statement, adding that investors must invest in the right coins to fully reap the benefits of crypto trading.

Datuk Fadzli further explained that MX Global currently only offers Bitcoin and Ethereum for trading because these are considered as blue-chip assets that have withstood the test of time, with clear indication of its growth potential. There are plans, however, to introduce more coins in the future, although MX Global did not specify a timeline for them.

Aside from that, Datuk Fadzli also urged investors to trade on regulated exchanges that are compliant with regulations put in place by the Securities Commission Malaysia (SC) – and therefore provide a secured platform – instead of unregulated exchanges. He said that although unregulated exchanges may offer the advantage of having numerous coin options, regulated exchanges give investors a greater peace of mind with their safe trading environment.

(Image: The Tokenist)

Finally, Datuk Fadzli touched on the growing importance of smart contract, noting that the technology has been recognised as being both efficient and secure in its usage. Essentially, smart contracts are programmes written into codes on a blockchain that will automatically execute once pre-set conditions are met. It can be used for proceedings such as fund transfers, account registrations, or issuance of documents.

“I think what’s going to be in store in 2022 will be the utilisation of smart contracts and leveraging on smart contracts. Blockchain technology will fundamentally change how we live and work in the future, with big players such as China, which is already adopting blockchain into their economy. Blockchain-based smart contracts will be imminent in the future of supply chain and eventually the global economy,” said Datuk Fadzli.

(Source:
The Sun Daily
)

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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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Prudential Offers Insurance Plan For Infectious Diseases On Shopee, For Limited Time Only

Prudential Assurance Malaysia (PAMB) has partnered with Shopee to offer the Prudential Infectious Disease Cover Plan, providing coverage against four infectious diseases: dengue, malaria, measles, and typhoid. Available only for a limited time until 18 February, this protection plan is given in conjunction with Shopee’s 2.2 CNY sale, and is an app-exclusive offer.

Priced at a premium of RM12.50 for a one-year coverage period, the plan will provide policyholders who are diagnosed with any of the four listed infectious diseases with the following benefits:

RM1,000 cash relief upon diagnosis

RM10,000 complimentary cash relief upon death (when you sign up during the campaign period)

On top of these, you will also be able to tap into
Prudential’s special Covid-19 coverage
, which offers RM1,000 cash relief upon diagnosis and hospitalisation, as well as a RM10,000 death benefit due to Covid-19. This protection plan is only open to Malaysians residing within the country, aged between 19 to 55.

“As we begin a new year, many Malaysians are re-visiting their physical health and wellbeing and re-aligning their priorities to take into account the possibility of health emergencies. While Covid-19 is still top of the mind, it does not undermine the prevalence of other infectious diseases,” said the chief customer and marketing officer of PAMB, Eric Wong in a statement.

The regional managing director of Shopee, Ian Ho concurred. “We are proud of this partnership with Prudential as the opportunity has enabled both sides to innovate and expand our offerings to consumers, ensuring value is added to meet the changing lifestyle needs of consumers,” he said.

(Image: The Edge Markets)

Shopee users who are interested can purchase the Infectious Disease Cover Plan via the Shopee app, and then redeem it on the Pulse by Prudential mobile app. Here’s how you can do it:

After purchasing the plan voucher on the Shopee app, tap on “Me”, followed by “Deals, Top-Ups & Bills”, and then “Orders”.

Copy the voucher code, and tap on “Go To Redeem”.

You will be directed to the Pulse by Prudential mobile app (or to download it if you do not have the app).

Tap on the “PRUShoppe” banner in the Pulse app to find the Infectious Disease Cover Plan.

Fill in the required information and submit. You will receive a notification in your Pulse app once your application is successful.

Note that the person purchasing the voucher must be the same individual applying to be covered under the Infectious Disease Cover Plan; the voucher is non-transferable. Also, each Shopee user is only allowed to make one application. Meanwhile, those who are unsuccessful in their applications or were not able to apply during the campaign period will receive a refund within 30 days after the end of this campaign. To further sweeten the deal, Prudential and Shopee are also offering RM10 Shopee vouchers to the first 2,800 customers who successfully sign up for the Infectious Disease Cover Plan.

You can find out more about the
Infectious Disease Cover Plan
 on Prudential’s website. Alternatively, search for Prudential on the Shopee app if you’re ready to purchase the plan.

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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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Scam Apps: Here’s How Scammers Are Using Them To Steal Your Money

As online scams become more rampant within the country, scammers, too, are constantly updating their tactics to swindle unsuspecting victims. The most popular mode these days appears to the phishing scams by getting victims to install malicious apps from external sources.

In a bid to raise public awareness, an app developer recently shared a demonstration of how dangerous it can be to download unverified apps outside of official sources such as the Google Play Store, Apple App Store, and Huawei AppGallery.

Shared on his Facebook page, Tan Aik Keong – who is also the founder of Agmo Studio, an enterprise mobility solution provider in Malaysia – demonstrated how these phishing scams work, from the beginning and where users would fall victim. In his demonstration, these scams begin with an SMS from an unknown number, informing potential victims that they have won a prize. To claim the reward, the victim is asked to download a mobile app through a link provided within the message. As you may expect, the link is not from an official source, and instead will download an Android Package (APK) file.

If you do end up installing this app, it will prompt you for permission to send and view your SMSes. Tan explained that this is a major red flag as allowing the app to do so enables the scammers to access transaction authorisation codes (TACs) – which are usually sent to you via SMSes to validate sensitive transactions.

Once you have provided permission, you will then be directed to a page that features the prize that you have allegedly won. But before you can claim it – there is a catch! You may be required to first purchase an item (for instance, you may need to purchase a phone to get the prize).

If you terminate the process at this point, then you are technically still safe. But if you do proceed with the purchase of the item, you will be led to a bogus website that mimics an actual bank’s site. As shown in Tan’s video, clicking on the payment button leads to a fake Maybank website, which looks remarkably similar to the real Maybank website.

Upon keying in your username and password, Tan said an error message will usually pop out. For instance, you may be informed that the server is busy. At that point, you may think that your login is unsuccessful due to Internet connection or server issues, but in reality, this is all part of the scheme to capture your login details in the backend system.

Now that the scammers already have your login details, all that is left is for them to log in to your bank account (through the real bank’s website, of course), and proceed to perform transactions. It is also possible for them to obtain the TAC required to approve these transactions as you have authorised the app to read your SMSes.

As shown by Tan, it is quite easy for online scammers to trick us these days if we are not careful enough.
Maybank
, as well as other banks and governing bodies, have issued alerts to warn Malaysians of phishing scams that operate similarly. We have also reported
similar phishing tactics that lure victims to download apps from unverified sources
.

If you ever receive any suspicious SMSes that sound too good to be true, it most likely is. Be sure to avoid clicking on links in these text messages, and you should also always avoid installing apps from unknown sources.

You can watch the full demonstration here:

(Source:
Tan Aik Keong
 (Facebook))

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Nur Adilah Ramli

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Prudent Car Drivers May Be Rewarded With Car Insurance Premium Discounts

(Image: The Coverage)

The Transport Ministry plans to start rewarding discounts on car insurance premiums to motorists who do not have summonses or outstanding summonses with the authorities.

Transport Minister Anthony Loke said that his ministry is currently waiting for insurance companies to propose reward systems for sensible car drivers. The General Insurance Association of Malaysia (PIAM) will be coming up with a mechanism on how to reward prudent drivers. According to Loke, the ministry will be ready to integrate the reward system and hopes to be able to announce the implementation within 2019.

(Image: The Malay Mail)

Loke mentioned that the ministry receives complaints from insurance companies on the high counts of car accidents and having to pay out hefty claims on a daily basis. The ministry plans on using the premium discounts as a tangible way to reward law-abiding drivers and reduce the number of road accidents.

Finally, for travelers who are making their way back home after the festive season, drop by any of the 150 participating Petronas stations across Malaysia to redeem complimentary coffee and snacks on 9 and 10 February as part of Petronas Dagangan Bhd’s annual road safety campaign.

(Source:
The Star
)

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Olivia Song

Olivia Song

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