World Bank: Sarawak Now A High-Income State

(Image: Bernama)

The World Bank said that Sarawak has achieved high income status as a state, based on its gross national income (GNI) per capita of more than US$13,205 (RM61,442).

“We (World Bank) just released our latest high-income data. 83/218 countries are now high income. Newest entrants: Guyana and American Samoa. While Malaysia’s quest to join the high-income club continues, there is one nice surprise: Sarawak is now a high-income state!” said the lead economist of the World Bank, Apurva Sanghi in a Twitter post.

We (World Bank) just released our latest high income data. 83 / 218 countries are now high income. Newest entrants: Guyana & American Samoa
While Malaysia's quest to join the high income club continues, there is one nice surprise:
SARAWAK is now a high income state!
pic.twitter.com/UkisFGWWFM

— Apurva Sanghi (@ApurvaSanghi)
July 6, 2023

For context, the World Bank would annually sort the world’s economies into four income groups based on its own set of income classifications, namely low, lower-middle, upper-middle, and high income. The classifications for each group are also updated on 1 July each year based on the GNI per capita that was recorded in the previous year (converted to US$). Here are the latest income classifications used:

Low income
: GNI per capita of under US$1,085

Lower-middle income:
 GNI per capita of between US$1,089 and US$4,255

Upper-middle income:
GNI per capita of between US$4,256 and US$13,205

High income:
GNI per capita of above US$13,205

Aside from the newly crowned Sarawak, other states in Malaysia that have also been acknowledged as high-income states to date include Penang, Labuan, and Kuala Lumpur:

Sanghi also explained that to conduct its calculations for Malaysia, the World Bank had obtained the state-level gross domestic product (GDP) data from the Department of Statistics Malaysia (DOSM). Following that, the figures were converted to US$ with the application of the
World Bank Atlas method
, and then divided by the mid-year population.

To explain, the conversion of currency to US$ by applying the Atlas method is different from using the more straightforward current market exchange rates. This specific method is designed to help reduce the price and exchange rate fluctuations, as well as modulate impacts on estimates of economic size and growth – thereby giving the World Bank a more accurate comparison of national incomes.

(Image: Herald Malaysia Online)

Meanwhile, deputy minister in the state premier’s department (labour, immigration, and project monitoring) Gerawat Gala has dismissed Sanghi’s claims, stressing that Sarawak has yet to achieve the coveted high-income status. The state government’s data from its Post-Covid Development Strategy (PCDS) 2030 showed that the state’s current income per capita was still lower than US$13,000, he said.

“I’m not sure how the World Bank worked out that Sarawak’s GNI (has exceeded the high-income threshold of) US$13,205, which looks very high to me. Sarawak is not a high-income state yet. Our PCDS 2030 is targeted to make Sarawak a high-income state by 2030,” Gerawat said.

As for Malaysia as a whole, the country has been categorised as an upper-middle income country since the late 80s. The World Bank had previously commented that Malaysia needs to see
improvements in six areas
 before it can become a high-income country, such as raising the participation of female labour force, creating well-paying and high quality jobs, as well as modernising institutions.

More recently, Economy Minister Rafizi Ramli had also commented that Malaysia stands a chance of becoming a
high-income nation by 2026
 if its economic growth stays above 4% for the next three years. This is in addition to having a stronger currency.

(Sources:
Malay Mail
,
Free Malaysia Today
)

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Alex Cheong Pui Yin

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

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Fave Joins DuitNow Ecosystem, Now Supports DuitNow QR

Fave has become one of the latest payment apps to enable support for DuitNow QR, Malaysia’s unified QR standard. With this latest update, Fave users and merchants nationwide will be able to benefit from an easier, less cluttered payment process offered through the DuitNow QR ecosystem.

DuitNow QR is a common QR code that allows merchants to accept cross-channel payments from all customers of the 32 banks and e-wallets that are part of the DuitNow QR ecosystem. This means that you will no longer need to request for an app-specific QR code – such as Fave QR code for those who are paying with FavePay, or Grab QR code if you’re paying with GrabPay. Instead, you can just scan an available DuitNow QR code with any of the participating mobile banking apps and e-wallets.

With regard to Fave now supporting DuitNow QR, the payment app said that this is an important milestone for the platform to provide convenience to its users by simplifying the mobile payment landscape. Aside from enabling cross-channel payments, it will also improve real-time verification and reconciliation with the FaveBiz platform.

Additionally, consumers using Fave as their preferred choice will be able to reap rewards from merchants and earn up to 15% in cashback. This is on top of the option to tap into interest-free flexible payments with the recently launched buy-now-pay-later service,
FavePay Later
.

The founder of Fave Group, Joel Neoh further commented that the nation is seeing a surge in cashless transactions and an opportunity for greater user adoption due to Covid-19. “We’re proud to be one of the early non-bank merchant acquirers for DuitNow QR code and look forward to working closely with PayNet and their partners to enhance interoperability in Malaysia’s e-payments landscape and support merchants in their digitalisation journey,” he said.
PayNet
 is the infrastructure provider that developed the DuitNow QR ecosystem.

Meanwhile, the director of retail payment services for Fave, Khairuan Abdul Rahman said that the inclusion of Fave in the DuitNow QR ecosystem will complement and broaden the range of available options to end consumers.

In its statement, Fave also projected that contactless tap-and-pay transactions will increase three-fold in Malaysia over the next few years with its entry into the DuitNow QR ecosystem. This is also in line with Malaysia’s
MyDigital initiative
, which seeks to accelerate the progress towards a completely cashless society by 2030.

Aside from Fave, other e-wallets and payment apps that have also adopted the DuitNow QR include
GrabPay
,
ShopeePay
, and
BigPay
.

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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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    mr calvin

    2 years ago

But favepay only available for favepay duitnow QR code , cant use for other regular duitnow qr code. It seem like useless also . pointless . there is less fave merchant out there. really useless, favepay should alot for other to use .

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    Vincent

    2 years ago

    Reply to

        mr calvin

Yes, correct. I was so excited after the announcement. The next day i tried to use to scan normal duitnow QR and it can’t go thru. Frustrated. Shoot the Favepay CS in chat room to find out it on can scan Favepay duitnow QR. That’s stupid!

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AmBank credit cards have got a treat for you at the movies

AmBank credit card holders can sure look forward to
catching a show or two at Cathay Cineplexes
!

From now till 30 June, every Thursday they enjoy a complimentary movie ticket with each ticket purchased, limited to two free tickets per card holder. They can also buy up to two regular movie tickets at RM6 each on weekends, and purchase up to two small popcorn sets for RM3 each.

Premium (Platinum and above) card members are privileged to a few extra perks as well. They’ll get a free movie ticket with one ticket purchased on Thursdays, and can buy up to two movie tickets for RM25 each on weekends at the Platinum Movie Suites in eCurve. They’re also entitled to purchase a small popcorn set at RM5 each.

All AmBank credit card holders will also enjoy access to the dedicated AmBank Priority Lane at Cathay Cineplexes eCurve.

Terms and conditions
 apply.

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EPF Will Begin Paying Out Approved i-Lestari Withdrawals Starting From Today

The Employees Provident Fund (EPF) will begin disbursing approved i-Lestari withdrawals to its members, starting from today until 18 May 2020.

Members whose applications have been approved will be informed via the i-Lestari Online facility when the funds are successfully transferred to their active bank accounts. However, it may take between one to three days for the transactions to clear before the money will be available for the members to withdraw, depending on the respective bank’s clearance procedures.

According to the chief executive officer of EPF, Tunku Alizakri Alias, more than 3.51 million applications have been approved since the launch of the i-Lestari Withdrawal Scheme in the beginning of April 2020. This will involve the disbursement of over RM1.66 billion to the members.

“We have been working with our partner banks to ensure their systems and infrastructure are ready to receive and correctly process such huge amounts of deposit at any one time,” said Tunku Alizakri. He added that all parties eventually agreed that daily transfers by batches from EPF to the respective financial institutions was the safest and best method. It is expected that this exercise will take about two weeks or less to complete.

Alizakri also noted that EPF understands the members’ urgent need for cash to get through the current crisis. However, he is equally concerned that the i-Lestari withdrawals will substantially reduce the members’ retirement savings.

“We hope our members have thought deeply before deciding on the amounts to be withdrawn from their Account 2 as they will need to balance their present cash needs with ensuring a solid financial future,” said Alizakri. He had previously reminded EPF members to be
prudent in making their applications for the i-Lestari withdrawal
.

Alizakri further suggested in
the statement
 that EPF members should meet with the fund’s Retirement Advisory Services officers once the ongoing movement control order (MCO) is lifted. This is so that the officers can help members review and restructure their retirement plans, if there is a need to do so.

The
i-Lestari Withdrawal Scheme
 was first announced by Prime Minister Tan Sri Muhyiddin Yassin in mid-March 2020, with
applications officially starting on 1 April 2020
. EPF subsequently introduced the
i-Lestari Online facility
 to offer a simpler application process.

(Source:
The Star
)

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How to Make a Hit Malaysian Movie, According to KL Special Force

Have you been to the cinema recently? Big international blockbusters get most of the press in entertainment news, but locally-made Malaysian films do quite well also. But have you ever thought of what makes a local movie earn the big bucks?

While there’s no straightforward formula to making a film financially successful, we thought it would be interesting to list down the common attributes of successful local films. If your side business involves providing entertainment or informative content, you may be able to apply some of these criteria to your own products or services.

Ride the Wave

Have you ever noticed how many zombie movies came out around the same time some years back like KL Zombi and Train to Busan? Or how about the recent vampire TV shows and movies like the Twilight series, Vampire Diaries, and The Originals? They may seem coincidental, but it might be better explained as strategic releases instead.

When a popular movie hits and gets plenty of fans, it makes sense for filmmakers to ride the trend and make a film that’s of a similar genre. This way, fans who want more of what they’ve enjoyed before can quickly jump onto the new movie, with expectations ready. KL Special Force for example, rides on the wave of action movies and the cops versus gangster stories made popular by directors like Yusof Haslam. It helps that the movie has plenty of high-octane action scenes and non-stop adrenaline, too.

Sequels and Franchises

Another way to ride on the wave of an existing customer base is by making a continuation of the same thing. In the case of movies, it’s by putting out sequels, spin-offs, and prequels. Turning a movie into a franchise is a surefire way to build upon the existing goodwill from an already successful film.

Sequels are everywhere in the Malaysian movie canon. The Cicakman series of movies is one example. The Upin and Ipin movie is another example of a TV franchise making the jump onto the big screen and winning big because of it. It also pays off to stick to a proven formula and rely on an audience who are already invested in the world and characters of the first movie or TV show.

Star Power

Signing well established and successful movie stars is another great way to gain an audience. From an audience’s perspective, if their favourite star is in the film, they trust that it’ll be worth the ticket price if they like that person. And the more stars per film, the better chance that a bigger audience will show up.

KL Special Force’s success in the box office can also be attributed to its star power. Casting popular local superstars like Rosyam Nor, Syamsul Yusof, and Fattah Amin certainly bolstered the movie’s appeal towards the Malaysian audience.

The Best-Selling Movie in Malaysia of 2018

How do we know the three points above are true? That’s because all of them as well as a tight script and solid marketing contributed heavily to the best-selling Malaysian movie of 2018, KL Special Force. Action-packed shootouts, the thrill of the chase, loyalties tested, it all makes for a smashing good time. KL Special Force made the most money this year in the cinemas with a whopping
RM12,216,321
.

If you’re keen to find out how good this movie is yourself, you can watch it right now from your browser via iflix. In fact, all the movies and TV shows mentioned in this article are available on iflix as well.

iflix is Malaysia’s very own streaming video on demand service where you can watch the best and latest TV shows, documentaries, movies, and live shows right from your PC or any smart device you have at home. You can even check out KL Special Force, the hit movie that just came out a few months ago,
right on iflix, right now
. Check it out for yourself and let us know what you think!

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Foster Healthier Money Habits by Forming a Money Club

Everyone is on board with getting more for their money. To that end, we need to make sure our budget is reasonable, our spending is prioritised well, our expenses are efficient, and our finances well-managed. It can get exhausting and downright frustrating to deal with this, all by ourselves. One way to help keep our finances on track is to form or join a money club.

What is a Money Club?

Just like any other club, it’s a group of people interested in the same thing who come together regularly and discuss or share their experiences with that particular subject matter. In this case, it’s money management.

To form one, you can gather people you know who have the same financial outlook, circumstances, and drive to reach optimal money management. You can even start with family members or close friends who share the same money goals as you do.

Once formed, you get together and talk out your concerns, targets, share tips, and generally discuss how your finances are going and how to help each other out if possible. There are a few ways that being in a money club can help you foster good money habits.

Exchanging Tips and Stories

There are many financial dealings you may not have had experience in and want to know the finer details of. Hearing stories about money right from the mouths of people who’ve lived the consequences can be sobering and help you stay on your toes and avoid potential disastrous decisions. In turn, you sharing your own experience can contribute to other peoples’ understanding of their own financial situation and help them make better decisions as well.

Accountability

When you or members of the club decide on a savings goal or budgetary exercise, you can keep each other in check and stay motivated. Just like being in a group diet or having gym friends, members of the money club can keep each other honest and encourage one another to keep good financial habits and break bad ones.

Shared Goals

If members of a money club have compatible goals to save for, like a holiday destination, or a special interest hobby (paintball or video games), you can work together to save money for the same thing. This way you don’t have to save as much and everyone can chip in. Set up a savings pool where each member can contribute and once the goal is reached, every member can benefit equally. This works best for goals that are more communal and can be shared around.

Fostering good money habits takes time, energy, and discipline. Having a group of like-minded peers to help each other along can be a great boost for everybody in your circle to reach your financial goals. Try it out! Especially for the final point of shared goals. You’d be surprised how much you can save up when you work together with others.

Speaking of saving up, check out our
savings account comparison tool
 to see and compare the best savings accounts being offered by Malaysia right now. Do you have anything to contribute to the story? Share your thoughts with us in the comments section down below!

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Maybank Virtual Treats Fair Returns On 25 To 27 November 2021

Maybank’s annual Treats Fair event is back once more, and held virtually again this year. Scheduled to take place between 25 to 27 November 2021 (6am to 12 midnight), the Virtual Treats Fair 3.0 event is set to be “crazier than before” as “everything is on for three days” – unlike previous Treats Fairs where certain promotions or rebates only took place on selected days.

During this period, Maybank’s cardholders will be able to exchange their Treats Points or Membership Rewards points for prizes and items at a discounted redemption rate of 400 Points to RM1 (a 20% discount from Maybank’s usual 500 points = RM1 rate). On top of that, you’ll also be entitled to 10x points for
all purchases
, which is a great perk given that the maximum amount of Points that you can usually earn through selected Maybank cards is 5x.

Additionally, there are early bird special deals between 8am to 10am that give you 95% discount with a minimum spend of RM1 (capped at RM5), as well as daily promo codes worth RM10 and RM20 to be won. There are also various one-hour flash sales that offer rebates of up to 60% off on selected products. This Hot Hours promo is set to happen throughout the day at 10am, 2pm, 6pm, and 10pm.

Another deal that you can also look forward to is Zoomin’ Airmiles, where you can enjoy an exclusive 30% bonus air miles when you convert your Treat Points or Membership Rewards points to Enrich Points. Alternatively, you can get 2x BIG Points for every 1,000 BIG Points conversion.

Maybank cardholders will also be able to participate in the Treats Bidder – which lets you bid for items with your Treats Points or Membership Rewards Points – as well as redeem exclusive Manchester United merchandise from as low as 10 Points via the special Manchester United 10
th
 Anniversary promo. There is even a Let’s Go Cuti-Cuti Game that rewards you win exclusive promo codes.

To further drive the excitement for the upcoming Treats Fair, Maybank is also hosting a
pre-event 10 million Points giveaway contest
, which takes place only today (18 November 2021). As many as 330 lucky individuals will be selected to win 10 million Points, 250,000 AirAsia BIG Points, and 100 scoops of Häagen-Dazs ice cream by answering trivia questions on Maybank’s social media page.

If you’re looking forward to joining Maybank’s Treats Fair this year, be sure to mark down the dates and visit Maybank’s
myTREATS website
 during 25 to 27 November.

(Source:
Maybank
)

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Barisan Nasional Releases Shadow Budget Ahead Of Budget 2019

(Image: The Malay Mail)

Barisan Nasional has revealed its first “shadow budget” as an opposition party ahead of the tabling of Budget 2019 on 2 November. Entitled “People’s Economic Initiative”, the shadow budget was announced by Rembau MP Khairy Jamaluddin, who holds the Finance portfolio in the opposition’s shadow cabinet. The shadow budget seeks to bring back the Goods and Services Tax (GST) and implement nine tax regimes.

GST was previously implemented by the Barisan Nasional government in 2015 at 6%, but this was replaced by Pakatan Harapan’s Sales and Services Tax (SST) on September 2018. According to Khairy, the SST had failed to bring down the prices of basic goods and items.

“We need a more efficient and transparent taxing system and we will bring back GST but lower it to 3%,” said Khairy. He estimated that the revenue collected under the lower-rate GST would be about the same as SST, but solve the problem of tax evaders and leakages faced by the SST.

(Image: The Star)

The shadow budget proposes the implementation of nine taxes. Six of these proposed taxes are new, such as the soda tax, which is predicted to generate an additional RM360 million annually, and the plastic tax, which is expected to bring in about RM1.46 billion.

The budget would also impose a capital tax on individuals whose accumulated wealth are beyond RM10 million yearly and carbon tax on factories with a minimum of 25,000 metric tonnes of green house emissions. Other measures proposed include a new charge on foreign remittance, a reworking of the current foreign workers’ levy, a short-term share transactions tax, and remittance tax.

Barisan Nasional would also continue with the 1Malaysia People’s Aid (BR1M) payouts, but with a special system for the B40 income households to ensure the payouts reach the right target group. Mega projects East Coast Rail Line (ECRL) and the Kuala Lumpur-Singapore High-Speed Rail (HSR), which are both under review by the current Pakatan Harapan government, would be revived and continued.

(Sources:
Free Malaysia Today
,
The Star
)

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SOCAR Malaysia Launches Peer-To-Peer Car Sharing Platform, Trevo

(Image: The Malaysian Reserve)

For those of you seeking for an alternative to conventional car rental services, or are open to the idea of renting your car out for additional income, you might want to check out SOCAR Malaysia’s Trevo. Officially launched in Malaysia early this week, Trevo is a peer-to-peer car sharing marketplace where drivers (guests) can contact car owners (hosts) to rent their cars for a specified period of time.

As a guest, you will be able to find a range of vehicles on offer, from sedan cars to SUVs, MPVs, pickups, wagons, coupes, convertibles, as well as luxury drives. You can also select from 21 car brands, including Audi, Bentley, and Mazda. A Perodua Myvi, for instance could cost you as little as RM55 per day, while the fee of a Rolls-Royce Ghost is set at RM6,000 per day.

To drive with Trevo, you need to first sign up via the mobile app and verify your account. The verification process typically takes about 24 hours. You must also have either a Malaysian Competent Driving Licence (CDL) or a valid international driving permit. Once that’s confirmed, you’re free to browse and book your preferred car. You will be given a choice of collecting the car from the host at a handover location, or from a member of the Trevo team.

As a host, Trevo gives you a chance to earn some extra income via your cars. For instance, the
income calculator
 available on the Trevo website estimates that you can earn up to RM5,430 per month with a 2015 Perodua Myvi if the car is booked for 10 days in a month. Luxury cars such as BMW 740 Le from 2019, on the other hand, can earn you about RM16,970 per month.

To register as a host on the Trevo app, you will also have to go through a similar verification process. In addition to that, you will have to provide information about your vehicle, such as its year of make, availability, and delivery options. The app also prompts you about opting in for extra services, like insurance packages and location tracking.

According to Trevo, the company is invested in providing more mobility choices to fulfil travel needs within the country. It aims to do this by tapping into the high rate of vehicle ownership in Malaysia, which is supposedly the highest in the region with 93% of households owning at least one car.

Trevo first went live in October 2019, and currently has more than 300 cars available in its listing, with most of them located in Klang Valley. The service also boasts over 20,000 registered guests, with more than 1,000 bookings since its establishment.

Trevo
 is available for download at
Google Play
 and the
App Store
.

(Source:
The Edge Markets
)

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Maybank American Express credit card EzyPay Plus holiday promotion

Going on that dream vacation need no longer be a dream, thanks to Maybank American Express cards’
10 month EzyPay Plus instalment plan
.

The plan is valid for transactions between RM1,000 and RM30,000 made on MalaysiaAirlines.com, and comes with a 3% per month interest rate. That means if your vacation costs RM1,000, you pay the bank back RM103 per month over 10 months.

But that’s not all to the promo. If you’re an Enrich Member you get 2,000 complimentary Enrich Miles, while signing up as a new Enrich Member gets you 1,000.

Promotion ends 13 June.

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Get Free Drones, Tablets, Shopping Vouchers, and More With RinggitPlus!

RinggitPlus has always strived to provide value to our customers. Since its inception, we have worked hard to live up to our motto, “Duit The Easy Way”. We do this with our robust comparison tool to compare the many credit cards, loans, and insurance policies available in Malaysia, ensuring you choose the best product for your needs.

On top of that, if you apply for the financial product through RinggitPlus, we sweeten the deal by offering attractive sign-up offers! These gifts are manually curated and regularly updated to be as attractive as possible.

To make it easy for you, we have set up this page to showcase all the sign-up offers and gifts that you stand to get simply by applying for any financial product (credit card, insurance, personal loans) available at

RinggitPlus.com
. The gifts vary depending on the product, and this page will be updated whenever there are new sign-up offers.

Free Gifts for April 2019

Here is the list of sign-up offers and gifts you can expect to redeem when you apply for our products:

Tefal Induction Rice Cooker

Ever wanted a rice cooker with 48 different cooking programmes to cook all your favourite dishes? The Tefal Induction Rice Cooker gives you optimal heat circulation, customisable recipes, and dishwasher-safe removable parts. You can even cook your dishes with an open lid!

Get the Tefal Induction Rice Cooker for free together with a Google Home Mini when you apply for a

selected HSBC credit card
.

Google Home Mini

The Home Mini is a compact and convenient Bluetooth speaker that is equipped with your very own Assistant (Google Assistant). You’ll be able to enjoy it in the comfort of your home by using Google Assistant to turn on tunes, dim the lights, and turn on your favourite TV show by using voice command.

Get the Google Home Mini for free together with a Tefal Induction Rice Cooker when you apply for a

selected HSBC credit card
.

Xiaomi Amazfit Cor 2

The Xiaomi Amazfit Cor 2 is a touch-screen fitness tracker for your daily step count, calories burnt, heart rate, and sleep patterns. Its 1.23-inch large colour screen makes checking your messages, the weather, and time-keeping functions much easier. It’s also waterproof so you can even wear it while swimming!

Get the Xiaomi Amazfit Cor 2 for free together with a Xiaomi Smart Scale when you apply for a

selected Standard Chartered credit card
.

Xiaomi Smart Scale

Able to measure the smallest weight changes up to 100g precision, the Xiaomi Smart Scale is perfect for those who are looking for a precise and accurate set of scales. Better yet, you can track your weight and BMI through the Mi Fit app and set profiles for the entire family.

Get the Xiaomi Smart Scale for free together with an Amazfit Cor 2 when you apply for a
selected Standard Chartered credit card
.

Philips Daily Collection Juicer

Do you want to get onto the fitness bandwagon and go on a juice cleanse? Or do you just need a dependable juicer for the whole family? The Philips Daily Collection makes juicing easy and has a compact design for easy storage.

Get the Philips Daily Collection Juicer for free together with a RM50 Tesco voucher when you apply for a

selected RHB credit card
.

RM50 Tesco Voucher

If you do a lot of cooking, you’d never say no to a RM50 Tesco Voucher. Even for those who aren’t handy in the kitchen will find it useful for stocking up on drinks, snacks, and all sorts of household items.

Get yourself a RM50 Tesco voucher together with a Philips Daily Collection Juicer when you apply for a

selected RHB credit card
.

Panasonic Mechanical Jar Rice Cooker

The Panasonic Mechanical Jar Rice Cooker has a capacity of 1.8 litres, a double-coated pan, and the ability to keep your rice nice and warm for up to 5 hours. After all, every Asian household needs a sturdy rice cooker in its kitchen.

Get the Panasonic Mechanical Jar Rice Cooker for free when you apply for a

personal loan with RHB
.

3 Simple Steps To Get These Products For Free

As we mentioned earlier, these sign-up gifts are given to all who successfully apply for a financial instrument on RinggitPlus. Once the respective banks approve your application, these gifts are yours. You should still check each participating banks T&Cs, but don’t worry – there are no lucky draw/lucky dip mechanisms here! Get more for your money with RinggitPlus.

Just follow these steps:

Step 1

Apply for the selected product that provides the gift you want, which will only take you a maximum of 10 minutes. Don’t forget to provide the relevant documents for the application.

Step 2

After your application is submitted, just sit back and wait for the bank to process and approve your application. Don’t worry, it will be a short waiting period.

Step 3

Once your application has been approved, we will send an email containing the financial institution’s approval and the redemption code for your gift. From there, you can redeem and enjoy your gift.

See, it isn’t difficult. Apply, Get Approved, and Redeem!

Should you have any queries whatsoever, you can always contact us via email (
[email protected]
) or phone (0378900808).

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Samsung Introduces Latest Range Of Neo QLED TVs & Bespoke Fridges In Malaysia

Samsung Malaysia is aiming to elevate the home experiences of Malaysians with the launch of its 2023 range of Neo QLED TVs as well as the sleek BESPOKE Top Mount Freezer Refrigerator.

For the 2023 Neo QLED TVs, Samsung has launched a slew of new models that ensure there’s a suitable Neo QLED TV for everyone, from the 55″ Neo QLED 4K Q80C all the way to the top of the line 85″ Neo QLED 8K QN900C. This year’s range also sees the 8K TVs featuring the new Quantum Matrix Technology Pro with mini LED technology, in addition to current features that make Samsung TVs among the best in the market such as Auto HDR Remastering, Perceptional Colour Mapping, and Freesync Premium Pro.

In addition, the electronics giant is also leveling up the Neo QLED TVs’ audio quality with Dolby Atmos support which works in tandem with a new Adaptive Sound Pro feature for intelligent sound processing. Lastly, Q Symphony combines any Samsung sound bar connected to the TV with the internal speakers to create a realistic surround sound experience.

In line with that, every purchase of the 2023 Samsung Neo QLED TV from now until 11 June 2023 will be entitled to a free Samsung Q-Series Soundbar. Depending on the TV you purchase, the Q-Series Soundbar models range from RM1,499 to RM6,499 in value. Check out the full range of launch promos in
Samsung’s dedicated website here
.

Moving on to the unique BESPOKE fridge, Samsung is placing itself front and centre in an increasingly popular trend among consumers who wish to personalise their home appliances to fit with their kitchen’s colour scheme. With that in mind, the BESPOKE Top Mount Freezer Refrigerator features 7 different colour panels that allows you to create unique colour combinations to suit your tastes. You can even choose to have them in matte or glossy finish for an added touch.

Of course, there’s new features within the BESPOKE fridge too. Top of the list is a 20-year warranty on the compressor, a huge sign of confidence from Samsung that your fridge will last. In addition, the introduction of SmartThings AI Energy Mode allows you to remotely monitor energy consumption and tweak between different energy savings mode as and when you need to.

The Samsung BESPOKE Top Mount Freezer Refrigerator is available in three sizes and will be priced as follows:

404L: RM3,199

427L: RM3,199

476L: RM3,399

Each model will have different colour panel permutations. The full suite of colour combinations can be viewed in person at the Senheng x Samsung Premium Experience Store at The Shoppes in Four Seasons Place, Kuala Lumpur.

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Pang Tun Yau

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

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CIMB Bank Has Launched Its Own WhatsApp Account

CIMB Bank now has its own official WhatsApp account. You can WhatsApp CIMB Bank to check up on your application status, check bank interest rates, or find your nearest CIMB ATM or bank branch.

The CIMB WhatsApp account does not support live chat, so you won’t actually be speaking to a customer service representative. Instead, WhatsApp channel works more like a chatbot, where users choose from several pre-set interactions to get the information they need.

Currently, CIMB’s WhatsApp account has the following features:

Checking rates for fixed deposits, foreign exchange rates, gold investment, home loans, auto loans, and personal loans

Checking application status on personal loan/financing and credit card applications

Finding the closest ATM or CIMB Bank branch

Video guides on how to use CIMB Clicks

When you choose any one of these features on WhatsApp, the chat will supply you with a link to the relevant page on the CIMB Clicks website, Google Maps, or YouTube. While the whole process isn’t completely in-app on WhatsApp, it could make finding the right information a bit easier for those who don’t like navigating the CIMB website on their own. CIMB has also said that it will be adding more features in the near future.

Users can tell that the CIMB Malaysia account on WhatsApp is a verified Business account by looking for the green tick next to the account name. Moreover, as messages on WhatsApp are secured with end-to-end encryption, users can be assured that no third parties can access the messages in the conversation.

To celebrate the launch of its official WhatsApp account, CIMB has RM15,000 worth of Lazada e-vouchers to give away. Existing CIMB Clicks users who drop a message on the CIMB WhatsApp before 31 January and answer a simple question following the instructions stand a chance to win a RM10 Lazada e-voucher.

You can find out more about
CIMB@WhatsApp here
.

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    Arffa

    3 years ago

hi, do we know who is their vendor for whatsapp chatbot?

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    Fakhri

    1 year ago

    Reply to

        Arffa

You can visit
https://sleekflow.io/
. They are the official WhatsApp Business API provider.

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Power Bank Buying Guide

With millions of Malaysians owning smartphones, a power bank has now become a necessity rather than just an accessory. But just like the smartphones they help charge, not all power banks are created equal. It is important to know this, because one should not just buy the cheapest power bank they can find and use it.

It is actually dangerous to use cheap power banks. Most of the time, inside these products are cheap, low-efficiency batteries to store charge. More importantly, they also do not have security features that help prevent overheating or worse, spontaneous combustion (i.e. explode).

Power banks are especially useful when you’re travelling or when you’re using your mobile devices for extended periods of time – festive periods included! So if you’re contemplating to invest in a good, reliable power bank this Chinese New Year (or in general!), these are the main things to consider before buying a power bank.

1. Size and Capacity (aka “What Will You Be Using It For?”)

First and foremost, you need to consider what do you need the power bank for. Power banks vary in size and capacity, with the heavier ones being able to carry higher capacities.

Most people would want a mid-sized power bank for “general use” that is large enough to charge your devices a few times, but not too bulky for everyday carry. On the other hand, there are those who want one that’s small enough to fit their handbags while still carrying enough juice to not leave you stranded with a dead smartphone. And then there are others who want a “travel-ready” one with huge capacities and multiple charging ports.

The amount of stored charge in a power bank is stated in milliamp hours (mAh), which is the same measurement as those stated in your smartphone or tablet box. Common power bank capacities are 5,000mAh, 10,000mAh, and 20,000mAh. To make it easier to understand, most power bank companies translate this as “how many times you can charge your smartphone/tablet with a full-capacity power bank”. This is easy enough to find out for yourself, as it is just a multiple of the battery capacity of a smartphone or tablet.

(Image: Xiaomi)

For example, a
Samsung Galaxy Note 9
 has a 4,000mAh battery, which means a 10,000mAh power bank can charge the phone from 0-100% 2.5 times. Of course, this is in theory – most people would be using their phones while charging them anyway, so this measurement won’t actually be accurate – rather, it is just a contextual estimate for consumers.

A 10,000mAh power bank is usually the most popular choice, as it usually has a good balance between capacity and bulk. That said, a 5,000mAh power bank slips into a handbag without a fuss – with barely a difference in weight.

2. The Brand Matters!

Aukey sells as many as 36 different power banks on its website. (Image: Aukey)

In the case of power banks, the company making them has a huge impact on how good the power bank is. And, companies who specialise in making power banks usually sell them at lower prices (thanks to economies of scale) than similar ones from smartphone companies – meaning you get quality products at a good price. Similarly, it is not a good idea to get cheap power banks that aren’t made by a reputable brand. There are a few reasons behind this, but the main one of course is your safety.

Reputable power bank companies ensure that their products meet stringent quality control requirements. For example, battery cells are sourced from companies such as LG and Samsung, who are leading battery-makers with proven track records. On top of that, each power bank would have some form of circuit chip protection that protects both power bank and the device being charged in the event of a short circuit, overcurrent, overheating, and more.

(Image: Xiaomi)

With these measures in place, good power banks not only charge and discharge more efficiently, they also last longer – and have a significantly lower risk of complications compared to cheap, unbranded, and yes, imitation power banks. Do keep a look out for those! Fake Pineng and Xiaomi power banks are very common – be sure to verify their authenticity before buying.

A company lives and dies by the products it makes, so you can be sure that a good power bank brand ensures reliability and long life. There are many good power bank makers out there, including Xiaomi, Pineng, Anker, Aukey, Tronsmart, as well as brands like Asus and Huawei who make their own affordable and good power banks.

3. Fast Charge Capability

This factor is usually overlooked in favour of size and capacity, but in reality, this is just as important a factor when considering a power bank. Having a fast charging power bank
makes a huge difference
 in the overall experience in using one.

To explain this, we first need to discuss the “output” of a power bank – that is, the rate of which a power bank charges a device. Old power banks discharge slowly, at a rate of 5V/1A and up to 5V/2.1A – fully charging a modern smartphone with this output speed can take several hours. But thanks to companies like
Qualcomm which pioneered the Quick Charge technology
, power bank outputs are now dramatically faster: many fast-charging power banks can charge a phone from 0-50% in just 30mins!

It is very easy to identify if a power bank has fast charging support. At the power bank’s specifications (you can find this printed at the packaging and even on the power bank itself), look for multiple outputs: 5V/1A, 5V/2.1A, 5.1V/2.4A, 9V/2A, or more. Some modern power banks even
support fast charge for input and output
, which is a fantastic feature to have as it will minimise the time it takes to charge your power bank.

Finally, if you use a smartphone that has a USB Type C port, you should consider investing in a power bank that supports USB Power Delivery (USB PD), a new standard for devices fitted with a USB Type C port. It works similarly to Quick Charge technology by optimising the current to the maximum supported value of the device being charged, resulting in dramatically faster charging rates. Thanks to the higher power output, USB PD is the underlying technology that allows modern laptops to be charged via USB Type C.

However, USB Power Delivery is a relatively new technology (especially for power banks), and so USB PD power banks are more expensive than normal fast charging power banks. But given that these support charging for laptops and even the Nintendo Switch console, it might be worth the investment.

4. Budget

Xiaomi sells a wide range of power banks at different price points

All earlier points would likely come down to this: budget. How much are you willing to pay for a power bank? Or perhaps, how much
 should
 you pay?

Generally, the prices of power banks scale up based on the capacity you are buying. Therefore, a 5,000mAh power bank would be the most affordable compared to a similar-specced 10,000mAh or 20,000mAh unit. Add fast-charge or USB Power Delivery support and the price will go higher.

As with all items you plan to use regularly (and in this scenario, in case of emergencies), you should invest in the best one you can get. But of course, the best doesn’t necessarily mean the most expensive.

For 5,000mAh power banks, you should be able to find good ones for very affordable prices of around RM30. Larger 10,000mAh ones have a huge price range, since they’re the most popular and prices will vary by brand. A basic 10000mAh unit can go as low as RM40, though we’d recommend to go with fast charging units which start around RM50 onwards. Finally, good quality 20,000mAh power banks with multiple output ports would start at around RM75.

Prices will vary and increase with added features like USB Type C power banks, fast in/out charging, and USB Power Delivery support, so don’t be surprised to see
power banks that go all the way past the RM300 mark
!

5. Recommendations

With hundreds of power banks sold in the market, which exactly should you buy? We’ve narrowed down some choices based on the types of power banks you need in different use cases.

Best power bank for everyday carry or emergencies:

Pineng PN-952 5000mAh power bank
. At just RM27.40, this tiny power bank is priced even more competitively than Xiaomi’s own 5000mAh power bank, making it a very popular choice. The Pineng PN-952 is just 9mm thin and weighs 118g, so it’s virtually unnoticeable in your handbag. Its output of 2.1A is decent, making this a useful item for emergencies.

Best power bank for universal use:

Xiaomi Mi Power Bank 2S 10000mAh
. Xiaomi has a wide range of 10000mAh power banks, but this is our pick as the best of the lot. Two-way fast charge, dual USB output ports, and Xiaomi’s nine-layer circuit protection
for just RM65
 means this power bank has the best bang for the buck.

Alternatively, you can also try out the
Aukey PB-XN10 10000mAh power bank
. It packs a USB Type-C port that can be used to charge the power bank or charge a second device (allowing you to simultaneously charge two devices). In emergencies, you can even use a Type C to Type C cable and (very slowly) charge a dying laptop. Its proprietary AiPower technology works by automatically determining the safest maximum recharge rate, so you spend less time charging your device.
At RM79
, it’s a little pricier, but may be more versatile.

Best power bank for travel:

Xiaomi Mi Power Bank 3 20000mAh
. It’s tough to highlight other products when Xiaomi makes power banks like these. The latest model in Xiaomi’s extensive Mi Power Bank lineup, the Mi Power Bank 3 catches up to the competition by swapping out the Mi Power Bank 2S’ micro USB charging port with a full-powered USB Type C port, supporting in-and-out 45w fast charge capable of charging USB Type C laptops.

For
just RM168
, this is quite a steal, considering one of our favourite travel power bank, the
Aukey PB-XD26 26800mAh retails at RM329
. The Aukey has a larger capacity (the maximum that you can carry onboard flights), higher overall output across the ports, two-way 45W Power Delivery on the USB Type C port, but one less USB port than Xiaomi’s offering.

Final Words

As we mentioned earlier, power banks are now more a necessity than an accessory. Choosing the right power bank for your needs is important, and hopefully this power bank buying guide helps you the next time you’re in the hunt for a solid and reliable power bank.

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    Lim Cheng Thor

    2 years ago

Thank you so much Yau Pang for the effort to contribute this informative and useful buying guide.

Wish I had read this earlier.

Purchased one fake Pineng PN999 20,000mAh below Rm30. This damn thing didn’t perform as expected.

I have rejected within one week and gotten my refund.

Right now am testing another one also below Rm30, definitely fake again. It’s charging but rather slow.

Anyway lesson learnt.

Thank you once again, keep up the good work!!

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How to recover from being made bankrupt

If you’ve been made bankrupt, you probably already know the

ugly truth. But if you were thinking of it as a quick way out of a sticky

financial situation: think again.

Bankruptcy can be serious and it can follow you to the end

of your days. Previously
we wrote about what it means to be bankrupt
 and
how bankruptcy can happen to you without you even knowing it

Today we’ll tell you about the

consequences of being bankrupt and let you know what you should do to get back on the path to good personal finance management and recover your credit rating.

The consequences of bankruptcy

Besides having all your assets surrendered to the Director

General of Insolvency (DGI) (as mentioned in Part 1); there are other

consequences to becoming bankrupt.

You won’t be able to:

leave the

country
(If you are found trying to do so without permission; your passport

will be confiscated);

form a

business partnership or start a business
;

manage a

company;

manage a

business owned by relatives or a spouse
;

bring an

action in court, unless it relates to personal injury
.

In instances 1-5, the bankrupt can request for permission

from the DGI or the court and if allowed, he will be able to do as permitted.

The bankrupt will also have to:

report any change of address to the DGI;

give an account of all property and monies

received by him to the DGI every six months;

surrender all property and monies to the DGI as

stated in the account

immediately report to the DGI if he receives

property or monies worth more than RM500 that isn’t part of his usual income.

These are some of the consequences you can expect which is

found stated in the Bankruptcy Act but there are other pitfalls. If you’ve been

declared bankrupt; until you repay; you won’t be able to secure any further

funding for the purchase of properties. Job-hunting will also be difficult as

companies do have policies against the hiring of bankrupts. Most large corporations

will do bankruptcy checks before agreeing to take you on.

What now?

No doubt bankruptcy is serious but it is such a seasoned

occurrence that there is always help on hand. Bankruptcy lawyers are available

to help as are the officers at the insolvency department. But these are some

best practices:

If the debt is genuine; seek to repay with

whatever means you can. Although it is not ideal, seeking help from relatives

or loved ones is better than leaving the debt unpaid and the DGI constantly

monitoring your affairs.

If the debt has occurred through no fault of

your own (perhaps a property developer who absconded or a wrongfully approved

loan you did not apply for); contest the decision as soon as you find out about

it.

Do not take bankruptcy lightly as a means of

avoiding your creditors. If you are having problems repaying loans; contact the

Debt Management and Counselling Agency (AKPK) before filing for bankruptcy.

Bankruptcy can be avoided through right steps but if you

have found yourself caught; continue repaying your debts and do as instructed

by the DGI and you’ll be cleared without hitch.

The above article was

written with the advice of bankruptcy lawyer,

Shamalah Selvarajah; a partner at Messrs Bodipalar Ponnudurai De Silva.

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5 Steps to Achieving Financial Merdeka

Merdeka day is right around the corner. As we inch closer to Malaysia’s 58th year of independence, we at RinggitPlus were thinking about our financial independence (I mean, we are RinggitPlus; we’ve got money on the brain).

At the risk of sounding philosophical, can many of us claim to be “Merdeka” financially? And what does it take to be so?

What is Financial Independence to You?

Financial independence. What do you think about when you see or hear those two words? A time of luxurious spending without care or to be free of working 9-5 with enough money in the bank to live to the end of our days.

The first thing to do is to first figure out what financial independence or financial Merdeka means to you. Do you want a life of unending ease or are you happy to just be free from from the clutches of work to spend time with family and friends?

Whatever your definition may be; few of us can claim to have achieved it no matter how much time has passed and therein lies the reason for despair!

If you are thinking about how you can get started on the road to financial independence whilst still grappling to make ends meet, fear not! We’re here for you. Let’s see if we can breathe new hope for a financially “merdeka” you.

Getting on The Road to Financial Independence

How does one go from simply making ends meet to being financially independent? Seems like a mission impossible going up in flames. But many people have done it;
some as young as 30
.

These are some of the tips we’ve gleaned from financial gurus the world over on how you can achieve financial freedom no matter what stage in life you are.

1) Have a vision

Take a piece of paper and write out in detail what being financially independent means to you. Don’t be afraid if it sounds far-fetched or unachievable.

Really take your time to plan out your vision. Better yet, have your own
vision board
. So you will constantly be reminded of where you are and where you want to be.

2) Create a realistic cost analysis

Now you know what makes you want to scream “Merdeka”, find out how much money you need to turn your vision into a reality. This will lend you a clearer picture on how long or easily achievable your vision is.

This will allow you a game plan to map out how much you need to save, how fast you can realistically do it, and what tools are available to help you achieve your goal.

3) Attack debt and unnecessary expenses

Here’s where the difficult part begins: striking down debts and unnecessary spending! Start paying off all your loans aggressively and consciously stop any extra spending on things you don’t need.

Despite your dreams to not have to worry about spending in future; you will need to worry about it now in order to clear debt and build a nest egg.

Did you know that in the USA, there is a movement called
The Compact
, where its members buy nothing new for an entire year? Now, we are not asking you to go that far, but any control you can take over your spending will benefit you in the long run.

Keep a journal so you can see your ins and outs and cut out what is unnecessary.

You can also downsize wherever possible. For example, if your car is too expensive, then change to another that is cheaper and more fuel efficient or if you’re living in a big apartment that costs way too much,
consider going small
.

4) Begin saving and investing

Once you’ve cut out the money sucking extras, it’s time to get that money pot growing. Saving is the first step but saving alone is not enough; you have to put the money in the right place too.

The first step means saving a healthy percentage of your salary. Although, 10% is the minimum, aim to hit 30% if you can manage it. This is usually easier for households with more than one income. Take advantage of the added source by pumping as much as you can into your savings.

There are a number of
savings
 and
fixed deposit
 accounts where you can park your funds but once they’ve grown to a sizeable sum; do consider investing more rigorously.

Let’s face it, savings alone will not be enough to battle the effects of inflation. So, this is where investment comes in. Do not, however, go and invest willy-nilly.

If you can afford it, do get professional help and do not be afraid to ask for a second opinion about how best to make your money grow.
ASNB
 and
ASB
 are easy ways to start investing if you’re a newbie.

5) Have a strong support system

Surround yourself with like-minded individuals who will be the encouragement you need if you start to stray off course. It will also be easier to keep to the plan without the constant urge to spend coming from your social circle.

That said, you can’t decide to replace all your friends overnight! But do make an effort to make new connections who will propel you to realise your financial goals.

The road to financial independence is paved with choices. These simple steps, slowly but surely, could help turn your dream of financial independence into reality.

You might not own a mega-billion ringgit mansion or a private jet any time soon but being debt-free, having a cushy savings whilst still having a good life certainly is achievable.

Good luck!

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Maybank Warns Customers Of Malware Scams That Can Obtain TAC Numbers

(Image: The Star)

Maybank has issued an alert to caution its customers about malware scams that involve cybercriminals using fake websites and malware-ridden apps to steal a victim’s personal and banking details. In particular, the bank highlighted an advisory by the Malaysia Computer Emergency Response Team (MyCERT), which focussed on a recent malware scam campaign known as SMSSpy.

“MyCERT has issued a security advisory on the latest fraud campaign, Malaysian banks’ customers’ credentials are stolen when an Android malware is downloaded on to their mobile phones. Once installed, this malicious app is able to view any SMS sent to the mobile phone, which includes obtaining TAC numbers to perform internet banking transactions,” Maybank warned in its Facebook post.

Meanwhile, the MyCERT advisory noted that cybercriminals involved in the SMSSpy campaign will use a number of ways to persuade individuals to download these malicious Android apps. One method is to impersonate the Law Enforcement Agency (LEA) and regulators, informing you that you have run afoul of the law, and as such, must pay a sum of money to unfreeze your financial account. You will then be instructed to download the app to make your payment – after which it’ll be able to steal your credentials.

Another modus operandi involves these scammers using fake websites that pose as legitimate services, particularly popular pet and cleaning services. As a potential victim, you’ll also be directed to download a malware-ridden app to pay for the services. MyCert further noted that eight websites have been identified as malware scams that impersonate services found only in Malaysian, including Grabmaid, Maria’s Cleaning, Maid4u, YourMaid, Maideasy, MaidACall, MyMaidKL, and PetsMore – here’s our
earlier coverage of an individual’s close call with such scammers
.

Ultimately, Malaysians are urged to always be wary of installing any apps or Android Package (APK) files from unknown sources, or click on any suspicious links sent through SMSes, WhatsApp, and other messaging services. If you’re a Maybank customer who suspect that you’ve been scammed, make sure to call the bank’s Fraud Hotline at 03-5891 4744 to lodge a report.

(Sources:
Maybank
,
MyCERT
)

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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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Citibank Credit Card Let’s You Pamper and Polish Your Car

Even our cars need some star treatment once in a while. After all that we’ve invested, it’s perfectly understandable that we want to show off our precious wheels. And to do that it’s need to be presentable in any condition, rain or shine.

So head on down to any CARs International car wash centre for a polish and receive a 30% discount when you pay with your Citibank credit card. Please note that prices vary slightly for larger car models (RM148 for Saloon and RM240 for MPV).

This offer is valid until 30 June 2013

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Brendon Lee

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Get More Value for Money on Your Romantic Getaway

Need some ideas to fuel a budget-friendly couple’s vacation? Then look no further, we’ve come up with a few handy suggestions to help you #GetMore value on your next couples-only holiday.

Just last week,
we talked about solo travel and how the independent go-getter can #GetMore for their money
; but we haven’t forgotten those sufficiently loved-up! This week, the spotlight is on you lovebirds!

Spending ‘alone time’ with your significant other is not so simple what with life’s everyday distractions running aplenty. Nevertheless, making time for a little seclusion now and then is necessary to rekindle, relax and unwind together. Pack your sunscreen and leave the kids with a sitter, it’s time for a couple’s vacation!

But before you head off to a romantic escape, check out our guide on getting the best value-for-money vacation for two.

It’s All About the Destination

The most romantic getaway destinations do not have to break the bank and may actually be right in your own backyard. Did you know that Malaysia boasts some of the world’s best vacation spots?

Yes, it’s true! And what’s better, you don’t have to spend much time or money on the transit, getting your passport renewed, applying for a visa or bothering with things like baggage allowance (if you’re not flying).

Moreover, since you’re already saving on travel costs, you can stand to spend a little more on the destination. For instance, you can press on toward a five-star beach holiday in Langkawi (
No. 9 on National Geographic’s list of top 10 beaches in the world!
) or a luxurious jungle-resort retreat in 130 million-year-old
Taman Negara
.

Still, if you’re looking to give your passport some use, take the road less travelled and wander through value-for-money vacation venues like Vietnam, Turkey and Bulgaria. These amazing alternative destinations are steeped in rich history and scenic beauty that make for a memorable, romantic getaway but at a fraction of the cost of other more mainstream romantic picks.

Timing, Is Everything!

Malaysian peak seasons generally occur from early December to late January and during public or seasonal holidays. This is when hotels, flights and restaurants impose exorbitant surcharges. For couples vacations, Valentine’s Day and the wedding months (usually during school holidays) can be especially tough on the wallets.

But, you can still beat excessive prices if you book in advance. Six months is optimum but not many holiday-goers want to commit to such advance bookings, especially when those bookings are non-refundable.

If this is you, then simply avoid the peak seasons. In addition, consider dodging Singapore public holidays as well, since they make up the largest nationality of tourists in the country.

If travelling out of Malaysia, do check online or with hotel reservation departments for your destination’s respective peak period.

The Journey

Don’t forget that the journey itself can also double up as a romantic part of the holiday and so if the option is available, why not drive there?

A road trip is a cost-friendly option from which to take in the sights and sounds. At the same time, you can use the opportunity to have little adventures along the way.

For example, try to map out your journey to include the attractions en route like waterfalls, hot springs, craft centres and even theme parks. A well-planned trip can certainly make way for you to enjoy the scenic route with less money spent.

If you are driving, be sure that you and your vehicle are fully-equipped for emergencies and ready for the long haul. Do arrange for your car to be serviced, buy extra fuel and load your GPS unit with maps that are available offline. Most of all, drive carefully and take your time, you’re in no rush.

Choosing the Temporary Love Nest (Accommodation!)

A hotel honeymoon suite isn’t just for newly-weds, do consider booking one for your vacation to get in on the extra attention. Even though it costs a little extra, a quality honeymoon suite is designed to specifically bestow a romantic ambiance.

Some suites come equipped with a large bathtub or Jacuzzi for two as well as extra touches that make big differences, like a romantic view and balcony.

In addition, springing for a honeymoon package may be well worth the money if it comes with special freebies like a bottle of wine or champagne, a complimentary dinner for two and late-checkout.

Fun-tastic Activities

There’s so much you can do together on holiday that will not cost a cent, like a sunset stroll on the beach, a nature hike or simply watching a movie together.

However, if you are willing to splurge a little, go ahead and indulge in a couple-spa. It’s rejuvenating and oh-so-romantic but it can be on the expensive side, so be sure you scout for discounts first. Here’s what you can do to #GetMore of your money’s worth:

1) Check your
credit card
 for relevant promotions.

2) Sign up for hotel membership to unlock spa discounts and offers (especially if it’s free to join).

3) Call the front desk to request a special discount – most people don’t realise that with good hotels, sometimes all you have to do is ask (nicely).

4) Try going to spas outside the hotel or resort if available, it’s usually cheaper but often more crowded, thus an early booking is usually required.

Vacationing Together on a Tight Budget

A couple’s holiday can be an amazing way to reconnect and forge wonderful memories together, in addition to enjoying a nice relaxing vacation.

Unfortunately, not everyone has the luxury of a large bank balance to jet-off on a romantic getaway to the Maldives (or some such highly commercialised ‘romantic’ destination). But the good news is a great holiday is possible even on a shoestring budget. You may need to downsize your expectations, but so what if it isn’t the Ritz? The important thing is that you are together.

Moreover, there are many promotions and discounts to set you off on an awesome holiday. For instance, if you currently possess a
credit card
, do check if there are any applicable promotions from which you can benefit. But if none of the offers float your boat, then perhaps it’s time you find a new card to #GetMore value.

If you don’t have a credit card, but love holidaying, this might be the perfect time to start looking into
travel cards
 that could be worth your while!

Did you like learning how to #GetMore when travelling with your partner in this article? Follow our #GetMore hashtag on your favourite social media channels as we bring you more tips on how you can get more for your money in everything from travel to shopping and dining until the close of 2015. Who wouldn’t like to #GetMore for their money?

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Desiree Nair

Desiree Nair

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Bank Negara Malaysia Maintains OPR At 1.75%

The Monetary Policy Committee of Bank Negara Malaysia (BNM) has decided to maintain its overnight policy rate (OPR) at 1.75%.

“For Malaysia, economic activity continues to recover from the trough in April this year. Latest high frequency indicators show that labour market conditions, household spending and trade activity have continued to improve,” said the central bank in its statement today, adding that fiscal stimulus packages alongside monetary and financial measures are also supporting the recovery.

“Looking ahead, the improvement is expected to continue into 2021, supported by the recovery in external demand and expansion in private sector expenditure,” the statement continued. However, BNM highlighted that the pace of recovery will be uneven across sectors, with economic activity in some industries remaining below pre-pandemic levels and a slower improvement in the labour market.

According to Bank Negara, the cumulative 125 basis points reduction in the OPR for the year so far will continue to provide stimulus to the economy. BNM had slashed the OPR by a total of four times this year, starting with the first cut from
3.0% to 2.75% in January
 and another
25-basis point cut in March
. In May, the OPR was slashed by
50 basis points
 to its lowest level in ten years, and then in July the rate was further reduced to its
current record low of 1.75%
.

(Source:
Bank Negara Malaysia
)

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Jacie Tan

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    Amirsep Tajul

    2 years ago

SME

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PM: Government To Draft Post-MCO Economic Recovery Plan

The government is looking into ways to revive the economy in stages, in light of the possibility of further movement control order (MCO) extensions. This entails the drafting of an economic recovery plan to ensure the quick revival of economic activity once the MCO is over.

“I have ordered the Ministry of Finance and the Economic Planning Unit in the Prime Minister’s Department to draft thorough Economic Recovery Plans for the short, medium, and long term,” said Prime Minister Tan Sri Muhyiddin Yassin in his special address where he announced that the MCO would be extended until 12 May.

According to Tan Sri Muhyiddin, the current focus is on identifying steps and initiatives that will spur the economy in the short and medium terms, as well as boost the confidence of the people and investors to regenerate the national economy.

“Among the initiatives that are being crafted include efforts to build up the capacity and skills of the people, encourage domestic consumption, increase resilience of industries including small-medium enterprises (SMEs), and foster a more positive investment environment for the future,” said the prime minister.

Tan Sri Muhyiddin also said that although the MCO could be extended again later, companies in certain sectors would be allowed to resume operations – subject to requirements that prioritised employee safety, social distancing, and premise cleanliness.

“Even now, a few sectors of the economy are open. After this, the government will consider opening other sectors and sub-sectors under strict conditions,” the prime minister said. “This is to ensure that the companies remain competitive and employees can continue to work in a safe environment. Guidelines and detailed requirements will be given to investors and the corporate sector to restart their respective operations.”

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Shopee Officially Launches ShopeeFood For Klang Valley Users Starting 24 September

Shopee has officially launched ShopeeFood on its platform, expanding its services to include food delivery.

According to a statement by Shopee, the service is currently being rolled out in batches, and will be made available to over 8 million Malaysians living in the Klang Valley starting from 24 September 2021. The process had actually began last week, which saw approximately
25% of Shopee users getting early access
 to the new feature.

Shopee further noted that users will be able to purchase from a variety of popular eateries through its ShopeeFood service. These include A&W, Burger King, Nando’s, Starbucks, Tealive, as well as local street food stalls.

The chief operating officer of Shopee, Terence Pang also commented that the e-commerce platform is delighted to now include food delivery as part of the Shopee experience. “This new service will also enable food and beverage merchants to move online and reach out to more customers, driving long-term growth. We hope that our users and merchant partners will enjoy using ShopeeFood. We will continue to improve our platform and services to better serve the needs of everyone,” he said.

As we’ve mentioned in
our earlier article
, ShopeeFood is operating only within the Klang Valley for now, although there are plans to continue expanding nationwide in the future. Delivery hours are between 10am to 10pm, and consumers will need to pay a service fee on top of the delivery fee for their purchases. It is also possible to use Shopee Coins to offset some of the payment.

Additionally, ShopeeFood is currently offering free delivery vouchers with no minimum spend and discount vouchers worth up to RM8 to its users in celebration of this launch. On top of that, there is another upcoming deal that you may also want to tap into; between 24 to 28 September 2021, ShopeeFood will be providing meal deals at RM10 or less for even more value.

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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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Guan Eng Reveals Low-Cost Carrier Terminal Plans For Penang

(Image: The Star)

Finance Minister Lim Guan Eng said that the government is in plans to build a new low-cost carrier terminal (LCCT) in Penang to accommodate increasing air passenger traffic. The prospective LCCT will be built next to the existing Penang International Airport (PIA) and share the same runway.

As the federal government does not have the budget to finance the project for the time being, the LCCT will be fully funded by the private sector. “For the expansion of PIA and the building of the LCCT, we want a bidder to come in and pay for it at their own cost,” said Lim on Monday. “We have talked to AirAsia and Malaysia Airports Holding Berhad and the reception has been positive. It will be a public-private partnership.”

(Image:
KLIA2
)

Lim said that a new terminal was needed as merely expanding PIA would not allow it to handle the future capacity of air traffic passengers. PIA was enlarged before in 2012 to meet its current capacity of 6.5 million passengers, which was supposed to last until 2020. However, Penang is already expected to record passenger traffic of more than 7.8 million this year. It is the second busiest airport in the country after Kuala Lumpur International Airport (KLIA).

“The concern now is when we expand, we must be able to recoup it with the volume of passengers to the airport,” said Lim. He further expressed the government’s caution in going forward with these plans, saying that they would wait for the outcome of the talks with the private companies before making any further moves. According to Lim, the LCCT can be built in a matter of one to two years, but work done to the PIA main terminal might take longer.

(Sources:
Free Malaysia Today
,
The Star
)

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Samsung Announces Galaxy Note 20 And Note 20 Ultra, Priced From RM3,899

As per the norm for Samsung, August brings the latest in the venerable Galaxy Note line of smartphones. As devices focused on productivity and performance, the Samsung Galaxy Note remains a popular choice – and this year, the South Korean company has made it easier to make the jump.

Bucking the trend of recent flagships, Samsung has streamlined its latest flagship Galaxy Note: there’s the Galaxy Note 20 Ultra, and the Galaxy Note 20. There’s no “middle child” in this series, so you’re left with an entry-level model and the high-end variant. Let’s break it down.

Photos taken at an exclusive media preview held in Kuala Lumpur recently.

Samsung Galaxy Note 20 Ultra

Kicking things off is the flagship, top of the line, super premium Galaxy Note 20 Ultra. With a gigantic 6.9-inch screen and weighing a hefty 208g, this heavyweight of a smartphone faithfully follows the Galaxy Note tradition of packing the latest technologies in a single device.

With a generous 12GB RAM, 256GB storage, and powered by Samsung’s own Exynos 990 chipset, the Galaxy Note 20 Ultra also comes with 5G connectivity as standard for the Malaysian market, making it future-ready alongside only a handful of other devices available currently. Its new S Pen, which has a dramatically reduced input lag from 59ms to just 9ms, still slots seamlessly into the Note 20 Ultra’s body – while still having enough space internally for the largest vapour chamber on a smartphone
and
a 4,500mAh battery.

The new 6.9-inch curved Quad HD+ display is arguably the best in the market today. Samsung calls it Dynamic AMOLED 2X, and we’re told it’s an improved version from the Galaxy S20’s Dynamic AMOLED display. The Infinity-O display is Samsung’s display technology that offers a near bezel-free panel, with a circular cutout for the front-facing camera. The 120Hz refresh rate technology from the S20 series is present here as well, and not to forget, Samsung’s using Corning’s brand-new Gorilla Glass Victus, which is touted to be the most durable ever made.

Perhaps the most interesting part of the Galaxy Note 20 Ultra lies with the cameras. At the media preview session, we’re told that Samsung has built on and improved the cameras from the Galaxy S20 Ultra, and that we can expect significantly better performance. The company paid particular attention to the video recording capabilities, with a new Pro Video mode that will appeal to enthusiasts.

On the Galaxy Note 20 Ultra, you’ll find a 108MP sensor as the main unit, accompanied by a new laser autofocus module aimed at eliminating the S20 Ultra’s previous autofocus issues. Alongside the 108MP sensor is a 12MP ultra-wide angle camera and a new 12MP telephoto shooter that features 5x optical zoom – and not the Hybrid Optic zoom as on the S20 series. Space Zoom, however, makes another appearance here, albeit offering a new 50x Super Resolution Zoom.

Samsung Galaxy Note 20

What’s interesting about the Galaxy Note 20 is the fact that size-wise, it would traditionally fit into the “Plus” (i.e. Galaxy Note 20+) model – which means this year, there won’t be a “mini” Note.

As the model designed for new Note users, the Galaxy Note 20 packs slightly less powerful hardware as the Note 20 Ultra. For the Malaysian market, Samsung is offering the Note 20 in both 4G and 5G variants – both will have 8GB of RAM, 256GB storage, and the Exynos 990 CPU as standard.

Besides that, there are several key differences between the Note 20 and the Ultra variant. For starters, it’s using a flat 6.7-inch display compared to the curved panel on the Ultra. It’s also a lower-resolution and previous-gen Super AMOLED Plus panel with no 120Hz refresh rate option (but since it’s a Samsung panel, it’s still no slouch).

Naturally, the Note 20 is smaller and lighter than the Ultra, weighing in at 192g. There’s the same S Pen as the Ultra, a slightly smaller battery at 4,300mAh, a 10MP front camera, and a completely different rear camera setup.

The Galaxy Note 20 features a 12MP main camera sensor, paired with a 12MP ultra-wide angle camera (that’s the same as the Ultra’s), and a 64MP telephoto unit that offers 3x “Hybrid Optic” zoom that we first saw in the Galaxy S20+.

Colours, Availability & Malaysian Pricing

The Samsung Galaxy Note 20 Ultra will be available in three colours: Mystic White, a reflective Mystic Black, and the Note’s signature colour this year: Mystic Bronze. Meanwhile, the Galaxy Note 20 will come in three colours too: Mystic Green, Mystic Black, and Mystic Bronze.

For the Malaysian market, Samsung has announced that the new Galaxy Note 20 series will be available in Malaysia from 21 August 2020. The pricing of the devices is as follows:

Samsung Galaxy Note 20 Ultra 5G (12GB + 256GB): RM5,199

Samsung Galaxy Note 20 5G (8GB + 256GB): RM4,299

Samsung Galaxy Note 20 4G (8GB + 256GB): RM3,899

Samsung Galaxy Note 20 Pre-Order In Malaysia

Pre-orders for the Samsung Galaxy Note 20 in Malaysia will be open from today at 10am until 11:59pm, 20 August 2020. As usual, pre-orders for the phones will come with freebies, which includes:

Samsung Galaxy Note 20 Ultra 5G (12GB + 256GB): Free Samsung Galaxy Buds Live worth RM699

Samsung Galaxy Note 20 4G & 5G: Free Samsung Galaxy Buds+ worth RM599

Note that if the pre-order is placed with full payment via
Samsung’s Online Store
, customers will receive e-vouchers worth RM450 (Note 20 4G & 5G) or RM650 (Note 20 Ultra 5G) instead. This can be used to redeem the Galaxy Buds Live, Galaxy Buds+, and other accessories at special prices (which can be found at the pre-order terms and conditions page).

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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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    Jo Yau

    3 years ago

Such a clear and good coverage. Kudos

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New Public Bank Campaign Offers Up To RM168 Cashback

Public Bank is running the Spend Now & Enjoy More Cashback campaign, where its Visa credit cardholders are able to earn cashback of up to RM168 when they spend a specified cumulative monthly amount on their cards. The campaign, which is already ongoing, will last for three months until 31 March 2022.

Open to all new and existing Visa credit cardholders, you’ll need to spend a cumulative minimum of RM888 in a month on qualifying retail transactions to participate in this campaign. If you’re able to meet the monthly spend requirement, then you’ll be entitled to earn the allocated cashback rewards, tiered as follows:

Monthly cumulative spend requirement
Cashback earned per month
Total allocation for each cashback reward per month
RM888 and more
RM18
RM61,667
RM1,888 and more
RM38
RM35,000
RM2,888 and more
RM68
RM35,000
RM6,888 and more
RM168
RM35,000

Qualifying transactions that you can spend on for this campaign include all local and overseas retail spend, online purchases, and new zero interest instalment plans (full purchase amount only). It excludes expenses such as e-wallet transactions, balance transfers, recurring payments, as well as payments for utilities, insurance, and charities.

Note that each customer will only be allowed to earn a maximum of RM168 cashback in each participating month, and the rewards will be offered on a first-come first-served basis. If you do win, it will be credited into your account within 4 to 8 weeks after the end of each campaign month. Do also be aware that those who participate in this promotion will not be eligible for other Public Bank credit card offers during the promotion period.

If you’d like to join this campaign, go ahead and register for it by sending an SMS (
PBV<space>16-digit principal Visa credit card number
) to 66300. Those with multiple credit cards are required to register only once, after which the amounts charged on all other cards will be automatically tracked for the campaign as well.

(Source:
Public Bank
)

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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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Motorists May Soon Pay Toll Fares With Any Preferred Digital Payments

(Image: The Sun/Adib Rawi Yahya)

Works Minister Datuk Seri Fadillah Yusof has said the public will soon have the freedom to pay their toll fares using any preferred digital payment providers while travelling on the highway. This means they will no longer be confined to only using Touch ‘n Go (TNG), as they currently are.

“Soon, it will be up to the public to use any digital mode of payment – whether you want to use TNG eWallet, debit or credit card, or Visa or Mastercard, or any kind of (electronic) payment system – as long as there’s a link available on a (particular) highway,” said the minister in an exclusive interview with news portal Free Malaysia Today.

Datuk Seri Fadillah noted, however, that the provision of this facility will depend on when the radio frequency identification (RFID) penetration reaches a satisfactory rate, as well as when highway concessionaires are ready to link up with additional online payment providers. He also commented that once the facility is launched, motorists will only need one RFID tag for the purpose of toll fare payment.

This update came after the unsuccessful implementation of the
RFID technology for Class 1 vehicles along the North-South Expressway
 over the past two weeks, which caused
massive congestions at several toll plazas
 and stoked public displeasure. Following that, Prime Minister Datuk Seri Ismail Sabri Yaakob expressed that users must be given the
freedom to decide how they would like to pay their toll fares
.

(Image: Bernama)

Datuk Seri Fadillah further said that the Malaysian Highway Authority (LLM) has been striving to make it convenient for the public to adopt online payments while travelling. “We have been listening to the people’s demand to open more (online payments), and we are aware that people have been complaining that they have to pay in advance for TNG whether they are using (the highway) or not,” he stated.

Aside from that, Datuk Seri Fadillah also confirmed that the TNG card for highway tolling will be taken out of commission in 2025, with SmartTAG set to be phased out soon after as well. It is estimated that there are currently more than 20 million TNG cards in circulation, with close to 91% of transactions carried out on the 31 highways within the country.

Additionally, Datuk Seri Fadillah stated that highway concessionaires have been instructed to prepare for the implementation of the multi-lane free flow (MLFF) system by 2025. To clarify, the MLFF system is a barrier-free tolling system, where there are no toll booths or dedicated lanes built. Instead, it utilises a gantry structure that is furnished with automated number plate recognition (ANPR) technology at specific locations.

(Image: The Malaysian Reserve)

The minister further shared that the government may consider a private investment model or private finance initiatives for the MLFF system if the situation calls for it, such as if the highway concessionaires encounters some delay. “The private investment model is for an open system. As you can see, there are many highways in the country and all the systems need to be integrated. If we look at Singapore and Taiwan, they have a single authority control (over the system),” he explained, adding that the MLFF system is a key factor in the Intelligent Transportation System blueprint for future highway networks.

Datuk Seri Fadillah also noted that the ANPR is already being tested in the pilot stage at the Kajang-Seremban Highway (LEKAS). “We are also looking at a proposal for a public-private partnership or PFI, subject to further discussion with the LEKAS concessionaire and another pilot project at Besraya Highway soon,” he added.

(Source:
Free Malaysia Today
)

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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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How to Choose a Credit Card Payment Provider for Your Website

Online shopping in Malaysia has gained much momentum in the past years. Malaysians spent a whopping RM 1.8 billion shopping online in 2010 and the figure is estimated to grow in excess of RM 5 billion in 2014: an approximate 35% increase each year.

More Malaysians have turned to shopping online for various reasons. The main being low prices, convenience, easy comparison and time saving. If you want to take advantage of this situation and set up your own online store, you may want to accept credit card or debit card payment as it is the most popular way buyers choose to pay for their purchases.

To accept credit card payments, you will need to sign up with an Online Payment Gateway Service. The most popular Online Payment Gateway Services in Malaysia are Paypal, iPay88, MOLPay (formally known as NBEPay) and Webcash.

To help you choose the most suitable payment getaway, take a look at some of the most popular Online Payment Gateway Services and what you can expect from them.

Paypal

Fees:
 Credit card transaction fees at 3.4% + RM2 per transaction.

Withdrawal:
 No frequency limit. Withdrawal fee is RM3 if amount less than RM400.

FPX/Malaysian Online bank transfer:
 Not available.

Webcash

Fees: Credit card transaction fees at 4%.

Withdrawal:
 Once a week.

FPX/Malaysian Online bank transfer:
 Available at a fee of 2% the amount transferred.

iPay88

Fees:
 Credit card transaction fees at 3% (SME plan) and 4% (SOHO plan). Annual fee is RM500 for SME Plan and free for SOHO plan.

Withdrawal:
 Once a week.

FPX/Malaysian Online bank transfer:
 Available at a fee of 4% the amount transferred.

MOLPay

Fees:
 Setup fee is RM400 (Premium account) and RM499 (Lite account). Credit card setup fee is RM900. Credit card transaction fees at 3% (Premium) and 3.8% (Lite). Annual fee is RM499 for Premium account and RM99 for Lite Account.

Withdrawal:
 Once a week at a fee of RM2.

FPX/Malaysian Online bank transfer:
 Available at a fee of 3% (Premium) and 3.8% (Lite) of the amount transferred.

Other than transaction fees, one thing to remember before choosing an Online Payment Gateway Services is whether it integrates with your shopping cart software. In this area, Paypal has an advantage over other payment getaways because most of the shopping cart software available in the market support the use of Paypal.

For other payment getaways, do ask about cart integration before you sign up.

This article was written by the founder of
1-million-dollar-blog
. He also operates multiple online stores.

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