Huawei P30 Series Lands In Malaysia, Priced From RM2,699

Huawei has officially announced the arrival of the new P30 series of smartphones in Malaysia. Touted as smartphones that “rewrite the rules of photography”, the new devices are available for pre-order immediately, and will be in stores from 6 April nationwide.

Huawei P30 Pro

The smartphone that has excited photography enthusiasts and surprised technology journalists since its launch, the Huawei P30 has already been described by some as “the best smartphone camera” ever made.

With a new quad-camera layout at the rear, Huawei continues to push the limits of smartphone photography at a rate faster than the competition. A new 40MP main sensor is paired with a 20MP wide-angle sensor, an 8MP telephoto sensor, and a new “time-of-flight” (ToF) camera for accurate depth detection, offering a camera setup that’s versatile and capable in all situations. On the front, the P30 Pro packs a 32MP camera with Super HDR Shot.

Combined, the rear camera setup offers one of the most capable cameras in all situations. It is capable of surprisingly usable 50x zoom thanks to periscope technology, enhanced portrait images, and astonishing performance in near-darkness.

Other aspects of the Huawei P30 Pro matches its flagship pedigree as well. It is powered by a Kirin 980 processor with 8GB as standard, and up to a massive 512GB of internal storage. Its large 6.47-inch OLED display is matched with an equally mammoth 4,200mAh battery with Huawei’s new SuperCharge tech, which can charge the phone from 0-70% in just 30mins. It also supports fast wireless charging as well as reverse wireless charging to charge other devices.

Rounding off the package is an under-display fingerprint sensor, an IP68 rating for dust and water resistance, and the colourways: a new gradient blue option called
Breathing Crystal
 and a new gradient red colourway called Amber Sunrise, the original
Aurora
 gradient colour, Pearl White, and of course,
Black
.

Huawei P30

The “basic” version of the series, the Huawei P30 drops many of the P30 Pro’s unique camera capabilities but retains most of the rest of the hardware, including the Kirin 980 chipset with 8GB of RAM as standard, as well as an under-display fingerprint scanner. It packs a smaller 6.1-inch OLED display as well as a 3,650mAh fast charging battery. Oh, there’s also a 3.5mm headphone jack, though its dust and water resistance rating drops to IP53. For the Malaysian market, the P30 is only available with 128GB of internal storage.

The Huawei P30’s camera omits the time-of-flight (ToF) sensor for depth perception, and the triple-sensor setup consists of a 40MP main, 16MP wide-angle, and 8MP telephoto sensors. The selfie camera is a similar 32MP sensor as the P30 Pro.

As for the Huawei P30’s colours, they are the gradient
Breathing Crystal
 and
Aurora
 options, and a
Black
 option for the classics.

Pricing and Availability

For the Malaysian market, Huawei is not only bundling some freebies for its P30 series pre-order, but also offering a 18-month extended warranty for the two phones.

The Huawei P30 Pro pre-order will come with a free 1TB Huawei Backup drive (worth RM599) and a snorkelling case (worth RM428), while the Huawei P30 pre-order will come with a wireless charging case (worth RM268) and a 10,000mAh SuperCharge power bank (worth RM199).

The Huawei P30 series will be available in stores from 6 April 2019, but pre-orders are now open in Huawei’s official website as well as in Lazada. Their retail prices in Malaysia are:

Huawei P30 Pro (8GB + 512GB):
RM4,399

Huawei P30 Pro (8GB + 256GB):
RM3,799

Huawei P30 (8GB + 128GB):
RM2,699

At these prices, the Huawei P30 series definitely give its closest competitors, the Samsung Galaxy S10, a run for their money. The Galaxy S10 models have
almost similar retail prices
, though Huawei’s highest-end P30 Pro is still RM200 less than the 512GB Galaxy S10+.

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Pang Tun Yau

Pang Tun Yau

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

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This World Savings Day, It’s Time To Get Money-Savvy With Your Kids

Every year on 31 October, countries around the world are reminded again on the importance of savings through the global event called
World Savings Day
. With its origin dated way back to 1924, this 90-year tradition was first conceived by the
World Savings and Retail Banking Institute (WSBI)
 with the core missions to increase awareness on why it is important to save and also to promote the habit of saving among the people.

Fun fact, when World Savings Day was first declared 90 years ago – eventhough its core missions have remained the same throughout the years – it was initially established to instil the idea of saving money in a bank, instead of keeping it the old-fashioned way, under the mattress.

Today, World Savings Day is celebrated by people around the world with various money-related initiatives taking place around this special day. Likewise, Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) has also participated in this movement with its very own annual
Bulan Menabung SSPN 2020
 held from 1 October until 31 October 2020, which champions Malaysian parents to save for their kids’ future and education by offering numerous activities and contests.

Although PTPTN’s Bulan Menabung SSPN 2020 will end tomorrow on 31 October 2020, in line with the World Savings Day that is also happening tomorrow, PTPTN wants to reiterate its belief that Malaysian parents should be the key to providing a financial safety net for their kids’ future and education, and also in driving early financial literacy for their kids. After all, the best way for kids to learn is through example, and the best time to do so is always as early as possible, starting at home.

If you haven’t already started, here are some tips to help you:

Start Saving For Your Kids As Early As Possible

You might have heard it too many times that
 “It’s not cheap to raise a child.”
In fact, this is a reality for Malaysian households where parents would need to spend between
RM393,000 and RM1.3 million on average for a child
 from birth to graduating higher education. According to the National Population and Family Development Board (LPPKN) Malaysia,
this high cost is commonly attributed
to
the expensive cost of baby products and foods, babysitting and nursery fees
, in addition to the
cost of education, which is rising faster than inflation.

Taking all these factors into consideration, the earlier you start saving for your kids, the better it will help you manage your financial situation in the future.

When To Instil Good Money Habits In Your Kids? As Early As Age 3

If you are wondering when would be the best time to talk about money with your kids, at age 3 might be the earliest for you to do so. This is because
at 3 years old,
kids can already begin to understand the basic concept of money
. Besides that, another reason why you should start as early as you can is because
money habits are formed in kids by age 7
. In this case, the proverb
melentur buluh biarlah dari rebungnya
 rings true when it comes to cultivating good money habits in your kids in the future.

How? By Setting A Good Example & Starting Simple

It is a known fact that kids learn by imitating what they see. By practicing good money habits yourself, you will naturally cultivate the same positive habits around money in your children. Start with a simple habit that you know your kids will be able to imitate. For example, you can set up a
tabung
in the living room, where everyday you will put in RM1 and at the same time encourage your kids to do the same. For older kids, you can try planning for groceries with your kids, where you can take this opportunity to justify why
you

need
 to buy them, instead of why
you want
 to buy them, thus helping them to identify needs versus wants.

Of course, besides these two examples, there are many available resources online on how to teach your kids good money habits that you can explore.

Take Advantage of PTPTN’s National Education Savings Scheme (SSPN)

Given the rising cost of higher education
, a savings account that offers annual dividend payout such as SSPN can be a great way for you to start saving for your kid’s education. By the time he or she enters a higher learning institution, the annual dividend payout would have multiplied and matured, just in time to fund for his or her higher education.

Available in 2 types of accounts –
SSPN-i and SSPN-i Plus
, setting up your kids’ education funds can be made easier, especially for SSPN-i Plus account which offers savings packages with monthly commitments from as low as RM30 per month (Intan package) to up to RM500 per month (Berlian package). These savings packages cater to Malaysians from all walks of life, giving them the freedom to choose any suitable amount that they can commit monthly.

Besides securing the future of your kid’s education financially, SSPN also offers benefits for parents by providing tax relief up to RM8,000 based on the annual deposited amount. Additionally, SSPN can be a great “tool” for parents to regulate withdrawals since it only allows full or partial withdrawals once your kid is enrolled into a higher learning institution, or has decided to drop out for exclusive reasons.

For more information about PTPTN’s initiatives in conjunction with World Savings Day,
visit PTPTN’s Bulan Menabung 2020 page here
. If you see any activities or contests you are interested in, you might still be able to participate before the campaign ends tomorrow on 31 October 2020. If you missed it, you can always save the date for next year.
You can also sign up for an SSPN-i or SSPN-i Plus account for your kids here
.

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Enrich 6.6 Mid-Year Campaign Offers 60% Bonus Enrich Points For Flight Ticket Purchases

Loyalty programme Enrich by Malaysia Airlines (MAS) is currently running its 6.6 Mid-Year campaign, where travellers are entitled to earn 60% bonus Enrich Points for flight bookings made between today until 11 June 2023 (only six days!). The travel period, meanwhile, starts from today until 31 December 2023.

According to Enrich, the campaign is open to all Enrich members who purchase Economy Class, Business Class, and Business Suite full-fare tickets (one-way/return journey) for flights to/from destinations operated by MAS – both domestic and international. For clarity, here’s the full list of booking classes that are eligible for this campaign:

Enrich also noted that this promotion is applicable for flight tickets that are purchased via the MAS website and app, MAS contact centre, MAS ticket offices, and travel agents (as compared to certain campaigns where purchases made through channels like travel agents are not considered eligible). Additionally, there is no limit to the amount of bonus Enrich Points that you can earn during this promotion period, although do note that the points will only be credited to your Enrich account after the journey has been completed.

This means that if you booked a flight for October 2023, you will only receive the 60% bonus Enrich Points after your travel in October is over. Meanwhile, if you do not turn up for the booked flight upon check-in – in other words, did not complete the journey – you will not receive the bonus Enrich Points.

In the event that there are any missing Enrich Points, you may go ahead and submit a claim request, but make sure to do so within six months after the end of the promotion. The request will then be processed and credited to your account within six to eight weeks after the bonus points credit period.

(Image: Malay Mail/Hari Anggara)

Aside from that, Enrich also highlighted that travellers who have purchased their tickets during the campaign period, but would subsequently like to change their flight dates or upgrade their tickets to a higher booking class may also still tap into this promotion. However, they must rebook their flights within
both the booking/ticketing and travel period
 set for the campaign, otherwise they will not be entitled to the bonus points offered during the campaign.

Finally, do be aware that this promotion does not apply to Elite Tier Points, and therefore, will not contribute to the accumulation of Elite Points required to qualify or upgrade to the Enrich Elite tier for this year.

For individuals who would like to tap into this promotion, but have yet to sign up for an Enrich account, you can do so via the MAS app or through
this webpage here
 (with the code ENRSAVE). Make sure to register for your account before purchasing your tickets to enjoy the perks of this six-day-only campaign!

(Source:
Enrich by Malaysia Airlines
)

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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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Department Of Statistics Foresees Malaysia To Be In Recession For The Next Four To Six Months

(Image: The Malaysian Reserve)

Malaysia is set to slip into an economic recession in the following four to six months, the Department of Statistics Malaysia (DOSM) has said in its Malaysian Economic Statistics Review (MESR).

According to the report, this prediction was made based on the latest leading indicators, such as the country’s marginal gross domestic product (GDP) growth of 0.7% in the first quarter of 2020 (Q1 2020). The figure is significantly lower than the 3.9% to 4.2% expansion previously expected; in fact, it is the lowest since the third quarter of 2009, after the global financial crisis between mid-2007 to early 2009. This is compounded by estimated losses of RM22.8 billion in economic output during Q1 2020 due to the movement control order (MCO) enforced to combat the spread of Covid-19.

“The outbreak has caused the temporary closure of businesses, where they faced the risk of immediate cash flow constraints as their earnings decreased,” noted the report, stating that the tourism industry was the first to be impacted. This was subsequently followed by the accommodations and aviation industry.

The real estate industry, too, was brought to a halt, as was the retail segment as people withhold from purchasing during this challenging period. The report also predicted that this trend is likely to persist throughout the first half of 2020, given Malaysians’ uncertainty and lack of confidence in the nation’s situation.

(Image: Bloomberg)

The report further commented that dynamic measures are necessary to help the nation transform its current economic structure. It is currently heavily dependent on commodities-based industries and low value-added industries that hire low- and semi-skilled workers with low pay.

“New ways of doing business and diversifying the economy is highly required by embracing technological advances, such as the Industrial Revolution 4.0 and digitalisation of business ecosystem,” said the
report
. This is evident as more businesses have leveraged on digital platforms to sustain themselves during the MCO, and e-commerce will become the new norm. The adoption of new technologies will also create a more conducive and sustainable labour market.

(Image: Nikkei Asian Review)

Meanwhile, the chief economist of IHS Markit Asia Pacific, Rajiv Biswas, also shared a similar forecast for Malaysia’s economy. “First quarter GDP contracted on a quarter-on quarter basis, and 2Q20 GDP is also expected to show a sharp contraction due to the impact of the protracted lockdown. This is expected to push the Malaysian economy into a recession for the 2020 calendar year,” he said.

However, Biswas believes that the economy will gradually improve in the second half of the year as domestic industrial production and consumption recover along with the easing of lockdown restrictions – domestically and globally.

(Sources:
Malay Mail
,
Free Malaysia Today
,
The Malaysian Reserve
)

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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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Budget 2020 Malaysia: Government Expands MySalam Takaful and PeKa B40 Coverage

Starting next year, the Government will expand the MySalam Takaful programme to cover more Malaysians in the event of a critical illness diagnosis and hospitalisation.

The
MySalam Takaful programme
 was introduced at last year’s Budget 2019 announcement (originally known as the
B40 Health Protection Fund
), as a way to assist B40 Malaysians in their time of need. It offered a payout of RM8,000 upon a diagnosis of any of the 36 critical illnesses covered, and a hospitalisation allowance of RM50 per day (capped at 14 days) for those who are warded in Government hospitals.

As part of Budget 2020, MySalam will see a larger coverage in two ways. First, the number of critical illnesses covered is increased from 36 to 45, including polio and terminal illnesses. In addition, the number of Malaysians for MySalam will be expanded to cover those up to 65 years old (from 55 currently).

On top of that, Malaysians with a gross annual income of RM100,000 and below will also be covered by MySalam starting 2020. However, this group will receive a critical illness payout of RM4,000 instead of RM8,000; the RM50 daily hospitalisation benefit doesn’t change. This expansion alone will cover an additional 5 million Malaysians.

Meanwhile, the Government is also expanding the coverage of the
PeKa B40 programme
. A healthcare protection scheme designed for the lower-income B40 group, PeKa B40 covers a wide range of common medical treatments, including medical examinations, medical aids, and incentives to complete certain treatments.

Currently, the PeKa B40 programme is only eligible for BSH recipients and their registered spouses aged 50 to 60. Starting 2020, the programme will be expanded to cover BSH recipients aged 40 above.

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Pang Tun Yau

Pang Tun Yau

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

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The Ultimate Planning Guide to A Stress-Free Year End Holiday

The year-end family holiday planning is no laughing matter. For the parents, there’s the family vacation to plan, children on school holiday to entertain and manage, holiday gifts (for those who celebrate Christmas) to buy, and of course, the back-to-school preparations to make.

For those without children, you’d think the stress would be lesser. The truth is, it is anything but. What with the
balik kampung
 or the romantic trip to plan and the Christmas (or year-end) dinner party to throw and attend, the strain of planning for your year-end activities might just send your mind into overdrive!

But, with proper planning and some can-do attitude, you can stay on top of things with ease – especially if you follow our epic guide on how you can plan a stress-free year-end holiday for you and your family.

1. Plan, Schedule, and Book Ahead

Planning for your year-end activities two months in advance would be ideal, but let’s be honest, few of us have the time and discipline to make that happen. But still, that doesn’t mean that you shouldn’t plan ahead at all.

Draft out your year-end activities plans
at least two weeks ahead
 and write them down. Now, discuss with your family on the what, where, and when is best for everyone. Once you’ve got that out of the way, start
scheduling
.

Put all of your plans on a
calendar
 (we recommend using a paper calendar as the act of writing them down will help you remember better) so you can see them better. Next, start making your bookings. Are you going on an overseas trip? Book your flight tickets and accommodations early to get a cheaper price.

Be sure to use a travel credit card such as
AirAsia-Citi Platinum Visa
 or
Citi PremierMiles Visa Signature
 to collect reward points and enjoy additional privileges – such as unlimited access to selected airport lounges around the world! Just click the button below for more details on Citibank’s travel credit cards.

2. Set Aside an Emergency Budget

We don’t wish for it to happen, but we must prepare for any financial hiccups – such as spending more than your intended budget. Put aside a sum of money in a safe place or a separate bank account (so you won’t accidentally use them).

Only withdraw from this fund when
absolutely necessary
 – such as if you or any of your family members get into an accident or fall ill during the holidays. Even if nothing bad happens, you’ll always be at ease knowing that you are financially prepared.

3. Spring Clean and Reorganise The House

It might sound weird, but cleaning and de-cluttering your home can help you de-stress and bring that fresh new year feel into your home. Plus, as you clean out your home from all the unnecessary things, you’ll get a clearer view of what needs to be fixed, replaced, or even added to your home.

4. Write Down Your To-Buy List

Once you’ve de-cluttered and reorganised your home to your satisfaction, it’s time to prepare your to-buy list. You’ll find that it’s a lot easier now that you know exactly what’s in your refrigerator, pantry, and your home.

You can even categorise your to-buy list; have one for groceries, another for your home needs, and yet another for your travel needs. Having a to-buy list helps you keep from spending over your budget.

Tip:
 Use cash back or rewards credit cards such as
Citi Cash Back Card
 and
Citi Rewards Visa Signature
 when shopping for your groceries and everyday items to enjoy greater savings and rewards!

5. Have a Realistic To-Do List

Having a to-do list is great to help you keep up and remember the tasks that you need to complete. But, you need to manage your own expectations and think realistically. Allocate extra time for yourself to complete your planned tasks, whether it’s a simple thing like changing the bed sheets or booking your entire family’s flight tickets.

Giving yourself unrealistic deadlines to complete tasks is counterproductive – it’ll only stress you out, having to do things in a short period of time. Plus, you’re bound to make a few mistakes along the way while rushing things out. The last thing you would want is to make grave errors that will cost time and money to correct – such as booking the wrong flight tickets for your family’s getaway.

Tip
: Have your to-do list in a checklist format, so you can immediately see which are the tasks that are done, and which are the ones still pending. You can even have multiple to-do checklists, one for your family trip, one for your home cleaning, and another for everything else. It’s a great way to help you remember and organise things at lightning speed.

6. Ask For Help

We know, we know. You’re a Wonder Mama/Papa and prefer to do everything yourself. But having too many things on your plate can ultimately lead to stress and ruin the festive atmosphere for you and your family.

It’s not a bad thing to ask for help from your loved ones. Sure, it can get pretty frustrating when things are not done the way you want them to be. But, sometimes it’s a lot better to do things together. After all, that’s what being a family is all about, right?

Remember, everything doesn’t have to be perfect all the time, and your way isn’t the only method to do things. What’s more important is that you have a good time with your loved ones – be it with family, friends, or even relatives – and create great memories together.

We hope you’ll have a great and a stress-free holiday this festive season, and pave a better path for the next year – be it for your personal or financial growth.

If you’re looking to upgrade to a better and more rewarding credit card, don’t forget to check out the benefits that Citibank credit cards have to offer! Click the button below to compare and get the best Citibank credit card for you!

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Banking Service Categories Everyone Should Know

How many banking services do you employ in your day to day activities? Probably more than you realise. Your salary goes into the bank, you then withdraw some for your basic spending needs, you pay your bills with your credit card and use internet banking to do so. Not to mention those who own cars and have hire purchases as well as home loans with the banks.

A bank offers many services to cater to people’s needs and here are the major categories of banking services everyone should know.

Storing Money and Managing Transactions

The basic function of a bank is to store and manage money. Storing your money in savings accounts typically garner you some interest and works as a safe place to keep your money. Current accounts work better for those who issue cheques regularly but these accounts usually do not earn the account holder any interest. However, there have been selected banks who now offer minor interest for current account holders as well.

Banks also offer cash management services like online bill payments and cash transfers between accounts. For businesses, banks also offer services like payroll management and overdraft facilities. Business banking also has the added feature to attach merchant services which are essentially credit card terminals for transactions.

Lending

Lending is made out of two categories, secured and unsecured lending options. Secured lending are loans that the bank has some form of collateral in return for the loan which is disbursed to you. You would probably be more familiar with products such as housing loans and hire purchases which are in the category of secured loans.

Unsecured lending are loans provided to you without any collateral. The most common ones that people are acquainted with, are credit cards or personal loans. It’s unsecured as once the expense is made on a credit card, the bank has no guarantee of recovering its cost should there be an unforeseen situation such as the demise of an individual.

Investment

Investing
 in banking generally refers to wealth management products such as mutual funds, bonds, insurance related investing where you invest and give control to a fund manager. The fund manager then invest in various types of legal businesses to garner a profit which is then paid to the individuals who have invested as dividends.

Although
fixed deposits
 are generally categorised as a savings tool, it works as an investment tool as well. The bank actually borrows the money you have deposited for the fixed deposit term. They take the money you have deposited and use it for other investments and lending while paying you guaranteed returns (interest) at the end of the term.

What is Next?

Banking is such a wide spectrum and is constantly growing. Knowing the basics could help you find better use for the products and services being offered by banks. Areas such as digital banking is an example of an added platform that has grown into an everyday essential. While many were reluctant at the start, people today use them for making payments, transfer money, check one’s balance, redeem gifts, and even do stock trades.

Explore banking products and compare them with ease on
RinggitPlus
. What banking category is the most vital to you? A combination perhaps? Tell us in the comments below.

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MHexplorer Programme By Malaysia Airlines Offers More Benefits For Students

Malaysia Airlines (MAS) has partnered with Expedia, Grab, and Maxis to offer more benefits for members under its
MHexplorer programme
 for students. Designed to reward other areas of the travel experience, the partnerships allows members to get discounts for accommodation, airport transportation, and even their data plan.

“These new benefits look at the travel experience holistically, allowing our students to plan and book their complete travel itinerary all at one convenient platform with great discounts as well,” MAS said in a statement.

MHexplorer members will get instant discounts off hotel bookings made in Expedia, at a rate of 8% for domestic hotels, and 10% for international hotel bookings. The coupon code for the discount applies for hotel-only bookings made online and does not apply to the hotels under this
exclusion list
.

Transportation to the airport is also covered; MHexplorer members will enjoy 8% discount for taking Grab rides to/from KLIA, Penang International Airport, Senai International Airport, Kuching International Airport, and Kota Kinabalu International Airport. However, note that the discount is only applicable for flight tickets purchased from 15 April 2019 – 14 April 2020 and the promo code is capped at 1000 rides per month.

Finally, MHexplorer members can also save RM10 a month when they sign up for the Hotlink Flex Plus plan. The RM60/month plan with 10GB data and unlimited calls and SMS is available for members at RM50/month for 12 months, which means that members will get to save a total of RM120 in a year.

Back in October last year when the
MHexplorer Programme was first launched
, the benefits were limited only to MAS flights, including additional check-in baggage allowance, discounts for flights departing from selected countries, 1x flight date change, and special offers for friends and family annually. These benefits are still applicable to MHexplorer members.

MHexplorer fares are also now available for outbound travels from more locations including Malaysia, Australia, Bangladesh, Brunei, Cambodia, China, Hong Kong, India, Indonesia, Japan, Myanmar, Nepal, New Zealand, Philippines, Saudi Arabia, Singapore, South Korea, Sri Lanka, Taiwan, Thailand, United Kingdom, and Vietnam on MH-operated flights that do not codeshare.

Students aged between 18 and 26 with a valid student ID and a MAS Enrich membership are eligible to join the MHexplorer programme. Eligible students can register and make bookings online through the official
MHexplorer site.

(Source:
Malaysia Airlines
,
The Star
)

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Finance Minister: Putrajaya To Adjust Spending If Oil Prices Fall Further

(Image: Bernama)

The Malaysian government has taken the lower global oil price into account for its expected deficit this year – but will reprioritise its planned spending if the price of crude oil declines further.

“Our calculation on the impact of lower oil prices have been factored into the deficit forecast of more than 4% of GDP. This reflects the whole year’s estimated deficit based on a certain level of oil price assumption,” said the Minister of Finance Datuk Seri Tengku Zafrul Tengku Abdul Aziz
in a statement
. “If the oil price declines significantly below our annual average estimates, the Government will reprioritise expenditures to meet the fall in revenue.”

When the global oil price war between Saudi Arabia and Russia first started last month, MIDF Research predicted that the falling oil prices could call for a
revision to Malaysia’s Budget 2020
. Since then, decreased demand and resulting surplus of oil due to the Covid-19 pandemic has placed even further
downward pressure
 on the price of the commodity.

While the Finance Minister acknowledged the general preoccupation with oil given its close link to global geopolitical influences, he also emphasised the importance of recognising that Malaysia has a diversified economic base.

“Moving forward, MOF will also be looking at structural reforms to ensure better diversification in Malaysia’s economy, apart from undertaking the necessary fiscal and monetary policies to develop the nation’s economic resiliency,” said Tengku Zafrul.

(Source:
The Malay Mail
)

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Jacie Tan

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Govt Announces i-MILIKI, Offers Stamp Duty Exemption For First-Time Homebuyers

(Image: Bernama)

Prime Minister Datuk Seri Ismail Sabri Yaakob has announced the Keluarga Malaysia Home Ownership Initiative (i-MILIKI), which offers a 100% stamp duty exemption for first-time homeowners who purchase properties priced RM500,000 and below. This is in conjunction with the launch of the Home Ownership Programme (HOPE) and Karnival Jom Beli Rumah.

Meanwhile, homeowners who purchase properties priced between RM500,000 to RM1 million will be able to benefit from a stamp duty exemption of 50% under the same initiative. “The exemption is for sale and purchase agreements completed from 1 June 2022 to December 2023,” said the prime minister, adding that the exemption applies to the instrument of transfers and loan agreements for the purchase of a first house through the house pricing tier.

Datuk Seri Ismail Sabri also highlighted that although this i-MILIKI exemption will cost the government some revenue, it is still introduced as a show of commitment to the Malaysian Family. It will serve as the continuation of some incentives that have already been rolled out thus far to increase home ownership among Malaysians, including the ongoing Home Ownership Campaign (HOC).

For context, HOC is a separate initiative that was introduced much earlier, providing similar stamp duty exemptions and other discounts. For instance, under
HOC 2020
 – which ended back in May 2021 – stamp duty exemptions were offered, but only for selected properties and capped at a specified value of the property. Meanwhile, the current HOC allowed full stamp duty exemptions for memorandum of transfer documents and loan agreements for first-time homeowners who purchase a residential property (worth up to RM500,000) between 1 January 2021 to 31 December 2025.

(Image: Malay Mail)

“For the record, the Inland Revenue Board (LHDN) said that stamp duty exemption claims under the HOC are RM957.8 million. In fact, the highest stamp duty exemption claim is for homes priced RM500,000 and below,” shared Datuk Seri ismail Sabri.

Meanwhile, with regard to the Home Ownership Programme (HOPE), Datuk Seri Ismail Sabri reiterated that the government is committed to promoting housing for all walks of life, especially the B40 group. “In this regard, the government’s commitment in ensuring the provision of adequate, quality, and affordable housing must be empowered by all housing providers, including the private sector. In fact, home ownership should be supported by a financial institution ecosystem that is more supportive,” he said.

Finally, Datuk Seri Ismail Sabri said that educational programmes such as Kempen Bijak Beli Rumah and Own While Young must be intensified. “This will surely help members of Keluarga Malaysia, especially first-time homeowners gain knowledge about property ownership and make it easier for them to buy their dream home according to financial ability,” he emphasised.

(Source:
Malay Mail
)

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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    wayne

    1 year ago

HI, may i know if this i-miliki oso can be apply for subsales property?

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    LKH

    1 year ago

This again is a half-past-six annoucement by the Govt lacking details about stamp duty exemption. Does this stamp duty exemption under I-miliki initiative include sub-sale properties as well ?. Again it was never mentioned leaving everyone to guess, typical of all half-past six annoucements from the Govt.

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Should You Buy More Than One Medical Insurance Policy?

Medical insurance is often described as an umbrella; you won’t see how handy it is until a rainy day. The ‘rainy day’ in this case is a medical emergency or a sudden illness. During such times; you’ll really wish you had one. But would you have wished you had two (or three, or four?).

For some, the idea of buying multiple insurance policies for just one area in life may seem strange but many Malaysians are getting into the act of buying more than one policy be it for life insurance, medical or personal accident. Yet, just because a good number of people do it, it doesn’t mean you should too.

In this article, we tell you why you need to think long and hard about that second medical insurance policy.

The Principle of Reimbursement

Medical insurance works on the principle of reimbursement unlike a life insurance policy. What does this mean? Reimbursement is simply the act of repaying an amount of money which you’ve forked out to pay for an event covered in your policy. So, if Suzy paid RM500 for medication for her chronic asthma and this was covered in her medical insurance policy; she will be repaid RM500: nothing more and (hopefully) nothing less. Sometimes, you will be reimbursed less than the amount you paid depending on the terms in your policy but you’ll never be given more.

Contrast this with a life insurance policy and you’ll see the difference. If our same subject, Suzy bought two life insurance policies for herself with her children as her beneficiaries – upon her death, her children will receive payouts from both policies. This is simply because you aren’t ‘reimbursing’ a person’s beneficiaries for the ‘cost’ of the insured person’s death. Such a principle would no doubt be absurd!

This is why, having two life insurance policies with a payout of RM100,000 each to be paid upon the insured person’s death is more value for premiums paid as opposed to two medical insurance policies with a similar payout for critical illnesses. If you are diagnosed with a disease which costs RM30,000 to treat and your policy states you can receive up to RM50,000 for that particular disease; you will still only receive RM30,000 upon approval of claims.

So, I shouldn’t buy more than one medical insurance policy?

As with most decisions you make in life; the answer to this is: “it depends…” There are some instances where a second policy may be helpful. Here are three instances where having more than one medical insurance policy could do you good.

You have two medical policies covering different illnesses. Though many policies are standard with the usual exclusions – you will find some which defer. Pay close attention to what the policy covers and what it doesn’t so you can find another which complements the one you already have.

As a ‘top-up’. It’s common knowledge that even private hospitals aren’t made equal and that medical costs are rising every day. Many policies with limits of RM30,000 to RM50,000 may not be enough anymore to cover the cost of being treated for many illnesses. Here is where a second policy can act as a ‘top-up’ if your current policy limit isn’t enough to cover your medical bill. Of course, you will only be reimbursed the exact amount in your bill and this will be subject to both insurance policies’ rules and requirements.

In addition to the medical insurance provided by employers. The medical insurance you get from many workplaces are usually basic policies with low limits. In many instances, an additional policy to this will prove useful. Also remember that the moment you leave your company, you will no longer be covered. As such, a policy taken out personally will ensure you are always covered no matter where you work.

For the life insurance double-up benefit. Many medical insurance policies double up as life insurance policies too. Instead of buying one medical and one life insurance policy – you could also buy two medical insurance policies instead. The second policy will be able to work as a ‘top-up’ should you need one and if not – as a life insurance policy. However, before deciding to do this; read the terms of your policy and compare premiums to get the best deal. Avoid paying more for coverage you don’t need!

Unless you can afford the extra expense and will make good use of the policy; having multiple medical insurance policies aren’t usually necessary.

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PM: Government May Consider Reintroducing GST After Reviewing Tax Systems

(Image: Malay Mail)

Prime Minister Tan Sri Muhyiddin Yassin has promised to review all tax systems as the new government explores strategies to help the nation improve their costs of living. This may possibly see the return of the Goods and Services Tax (GST) to replace the current Sales and Services Tax (SST).

There have been strong criticisms against the SST, which was reintroduced under the previous Pakatan Harapan administration. Many felt that it did not lower the prices of essential goods in comparison with the previously implemented GST, which was also had its share of detractors.

Tan Sri Muhyiddin’s response came as he pledged to mobilise all resources to revitalise the country’s economy, which is badly impacted by the Covid-19 outbreak. This includes the establishment of the Economic Action Council (EAC), which is tasked to stimulate economic growth and improve the living conditions of the people. It will focus on issues related to costs of living, labour, poverty, and home ownership.

He also commented that both he and his new Cabinet are committed to being a government that knows the wants and needs of the nation, and is able to deliver solutions urgently.

“I say this because all Cabinet members know that the situation the country is in now is not good, particularly when it comes to the economy and burdensome prices (of basic goods),” said Tan Sri Muhyiddin.

Malaysia has alternated between the GST and the SST with the change of governments over the past few years. The GST was introduced in April 2015 under the Barisan Nasional (BN) coalition to replace the SST, which had been in use for decades. In September 2018, however, the country reverted to the SST when the Pakatan Harapan government came into power.

The Pakatan Harapan administration had defended the SST when it was reimplemented, stating that the SST is expected to generate more income for the country’s economy.

(Source:
Malay Mail
,
The Edge Markets
)

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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How This Savings Account Rewards You For Doing More With Your Money

Saving your money can be just as important as earning it. In fact, it’s all too easy to squander hard-earned cash and waste the opportunity to build your wealth, if you aren’t saving your money in the right places.

You’d be surprised to know just how big a difference saving your money in the right places can do towards growing your savings or current account. That said, saving money is just one aspect of being responsible with finances.

How to be responsible with your money

In general, maintaining a healthy savings account, spending mindfully, buying insurance, and attempting to grow your money through investments are all highly effective methods — and here’s why:

Saving money allows you to build a safety net

Saving money is the foundation of mindful money management. Putting aside a portion of your earnings is the first step toward building an emergency reserve that you can turn to when the unexpected happens.

Buying insurance helps protect your money

You can protect the finances you’ve earned and saved through insurance. There are many types of insurance plans that help secure your finances and cover your financial needs in times of trouble. For instance, life and medical insurance plans provide financial support if you suffer an unfortunate accident and are left permanently disabled. It can also provide for your family, which is especially necessary if you are the sole breadwinner.

Investing can grow your finances passively

Most financial advisers will agree that a second or passive income is essential for building wealth. Investments, whether through insurance, unit trusts, or others can help grow your money —instead of the other way around.

As you save, insure, and invest, note that it’s incredibly important to choose the right avenues to park your savings, spend your money, and invest them.

How Standard Chartered
Privilege$aver
 Rewards You For Responsibly Managing Your Finances

Being responsible with your finances is a reward in and of itself, but Standard Chartered is giving you more reasons to take good care of your money.

The bank is offering an incredibly attractive offer of 6% total interest p.a. when you save, spend, and insure or invest your money with Standard Chartered, offering you an all-in-one avenue to do more with your finances
and
 be rewarded on top of it.

To be eligible for the campaign, you’ll need to be an existing or new customer with a Standard Chartered Privilege Savings Account or Super Salary-i account and complete the following:

1) Save

During the month, make a minimum deposit of RM3,000 into your account in a single transaction to receive an interest/a return of 2.5% p.a. (0.5% p.a. base interest/profit rate and bonus 2%p.a. interest/hibah).

2) Spend

Spend a minimum of RM1,000 with any Standard Chartered credit card to earn an additional bonus interest/profit rate of 1.5% p.a. on your account balance.

3) Invest or Insure/Cover

Lastly, to increase account balance’s interest/hibah by additional 2.0% p.a., contribute a minimum of RM1,000 monthly to any eligible unit trusts, bancassurance, insurance, or Takaful plans.

By consolidating all your banking transactions with Standard Chartered Privilege$aver, you can maximise the returns of your savings account at up to 6% p.a. – one of the highest returns of any savings account in Malaysia, so you know you’re putting your money at the right place.

In addition to these rewards, you’ll also enjoy unlimited fee waivers for any MEPS ATM withdrawals nationwide as well as for instant interbank fund transfers.

Smart Ways to Meet the Standard Chartered P
rivilege$aver
 Requirements

Unlocking the returns of up to 6% p.a. rate is easily achievable, especially when you automate your banking transactions. Here are tips on achieving the bonus rates with ease:

Credit your salary

To get the fresh funds you need to fulfill the “Save” bonus category, consider setting your Privilege Savings Account or Super Salary-i account as your salary account. This way, your employer can credit your salary into the account to fulfil the minimum deposit requirement, or at the very least get you closer to it. Most importantly, you are already earning higherthan any basic savings account.

Set up a standing instruction

For the “Spend” bonus category, consider setting up standing instructions to pay for monthly bills and other recurring necessities like your insurance premium payments. Doing so goes a long way towards achieving the minimum spend of RM1,000 per month. What’s more, you can take “paying bills” off of your monthly to-do list!

Sign up for an insurance savings plan

To fulfill the “Invest or Insure” bonus category requirement and earn your bonus rate, consider signing up for an Insurance Savings Plan such as
PRUsignature
 or
Premier Legacy
. Just remember that you’ll need to make a minimum contribution/premium payment of RM1,000 per month.

——-

Find out more about how
Standard Chartered Privilege$aver
 can reward you when you do more with your finances.

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Top 5 Highest Paid Fresh Graduate Jobs in Malaysia 2014

Everyone wants to find a job that they love – but more often than not, this doesn’t necessary mean it’s the job that they need. Unless you plan on living life on the edge, finding a career that pays the bills is ideal in today’s tough economy.

Unsurprisingly enough, a recent survey conducted by Nielsen showed that when it came to choosing a job, jobseekers in Malaysia considered salary as the most important factor.

The Top 5 Fresh Graduate Jobs According to JobStreet

Thanks to a new salary matching feature by
JobStreet.com
, candidates can now be matched to jobs based on their desired salary. They are the first job site in Southeast Asia to have done so. In addition to this, JobStreet.com also conducted a study to find out what the highest paying jobs in Malaysia were.

The results were pretty interesting:

5 Sales – Engineering / IT (RM2,612/month)

This field isn’t exactly like consumer sales; instead, it relies more on the salesperson having in-depth technical information and problem solving skills about the product or service. This is so that he or she will be able to provide advice and support to the customer.

A keen interest in all things engineering and IT will be beneficial as the IT industry is constantly developing and changing.

4 Doctor (RM2,719/month)

Here, we have the one job position that many, if not all, parents secretly hope their children will take an interest in. Not only is it a noble profession that garners a lot of respect where one will be able to serve others and save lives, but the job itself also pays considerably well.

Since there is a need for most of the doctors to be at work for irregular, and sometimes very long, hours due to the need for them to be on call, they are able to command a higher pay as their years of experience increase.

3 Sales – Financial Services (RM3,054/month)

Financial services actually encompass a broad range of organizations that manage money. The individuals who work in this industry are the ones who are qualified to “sell securities to individuals, advise companies in search of investors, and conduct trades.” This is in addition to the basic sales skills of managing consumer behaviour and maintaining relationships.

Some of the primary responsibilities that are tasked to these financial salespeople would be to determine the financial needs of clients as well as the areas of improvement in order to assist them in achieving financial security.

2 Corporate Strategy (RM3,200/month)

Concerning the need for companies to create value across different businesses, this field requires its strategists to understand the way that the operations of a corporation harmonise together to achieve its goals as well as its overall scope and direction.

You will be required to know how to respond to pressure from competitors as well as external issues that involve the needs of customers. This is called strategic planning for the company in order to position the company towards its chosen approaches.

1 Pharmacy (RM3,640/month)

Finally (but not least), we have the top field that a fresh graduate will be able to rake in the big bucks with: pharmacy.

What immediately pops into your head as you read that word? The person in the oversized white lab coat who stands at the back of places like Guardian or Watson’s?

That’s quite correct, yes, but did you also know that in this field, a pharmacist is able to work in different sectors such as in nuclear pharmacy, which involves preparing radioactive materials for diagnostic tests and for treating certain diseases.

To put it simply, it is essentially a science that requires precise techniques to prepare as well as dispense drugs and medications. The primary aim for pharmacists is to ensure the safe and effective use of pharmaceutical drugs.

So there you go, the five jobs that will give you the best pay once you step out (freshly minted) from your tertiary institution.

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Fuelling Up? Check Out Which Petrol Stations Offer The Best Reward Points

Last update: 5 May 2021

Drive into any petrol station and the process of filling up your tank is the same. But if there is one difference between the petrol stations in Malaysia, it’s in the loyalty programmes.

If you’re a car owner, fueling up with petrol is a necessity, so signing up for a loyalty programme is a great way to be rewarded for this necessary purchase. With repeated visits to fuel up, petrol loyalty programmes can help add to your savings through a variety of gifts and vouchers redemption. What’s more, there are often campaigns tied into these loyalty programmes that allow you to maximise your point earnings or redeem exclusive gifts – giving you extra value to your routine visit to the petrol station.

But with a number of options of petrol stations to choose from, which one gives us the best value?

To find out which petrol stations has the best loyalty programme for its everyday consumers, let’s take a look at the five leading petrol brands in Malaysia as we compare their loyalty programmes through these three key aspects: Everyday Point-Earning Ratio, Special Campaign Point Earning Ratio, and Gifts & Redemptions, while making note of any extra perks. At the end of this article, to demonstrate the value of each programme in your daily lives, we’ll show you just how many points each programme delivers.

BonusLink Card, Shell

A household name that has been around since 1998, BonusLink should be familiar to anyone who has fueled up or shopped at a Shell station.

Everyday Point Earning Ratio:

The point-earning ratio is fuss-free; you earn 1 BonusLink Point for every litre of fuel purchased or RM1 spent on Shell SELECT purchases at any of the 950 Shell Stations across Malaysia
.

There are some exceptions to this — 1.25 BonusLink Points per litre is awarded for purchases of Shell V-Power Racing fuel, and no points are awarded for purchases of tobacco, bill payments on ePay, Touch ’n Go card reloads, and in-store services at Shell SELECT.

Special Campaign Point Earning Ratio:

If you’re looking to maximise your point accumulation, Shell is currently running the “Ekstra Ganjaran Setiap Hari” campaign that allows you to earn up to 4x BonusLink Points for fuel purchases until 31 July 2021.

You do need to spend a minimum of RM50 per receipt on petrol and do so at least 4 times a month to qualify for the maximum BonusLink Points Multiplier — so if your vehicle requires a lot of fuel or you’re frequently driving on the road, this campaign offers the most points for your buck. Additionally, if you fuel up with Shell FuelSave95, you’ll not only collect points but also enjoy instant savings with its special fuel formulation designed to deliver extra kilometres on every journey.

Gifts & Redemptions:

Once you have your BonusLink Points in hand, you can start redeeming fuel, snacks, and treats in-store at Shell SELECT from as low as 100 BonusLink Points. Some of these treats include Yeo’s Can Drink (300ml), Coca-Cola Klasik (320ml), Nescafe Tarik (240ml), Himalaya Salt (15g), Shell SELECT Keropok Ikan (Original/Spicy) and more.

Extra Perks:

With the BonusLink card you can also accumulate points when you spend at other partners such as Parkson, Watsons, and Sports Direct via BLINK Mall on BonusLink App, and then pool your points to redeem fuel vouchers and more from Shell or a gift from the
BonusLink Gift Catalogue
.

Petron Miles Privilege Card

With over 600 Petron petrol stations nationwide, there are plenty of opportunities to use the Petron Miles Privilege Card.

Everyday Point Earning Ratio:

Earning points with the Petron Miles Privilege Card is a breeze with 2 Petron Mile Points awarded for every litre of petrol purchased. For example, the average Perodua Myvi requires roughly 36 litres of petrol for a full tank, so a full pump of RON95 gives you 72 Petron Miles Points.

Special Campaign Point Earning Ratio:

While there isn’t an ongoing campaign that increases the point earning ratio, there are a variety of
promotions
available for Petron Miles Privilege Card members such as discount promo codes for Team Malaysia Apparels and exclusive Fast & Furious merchandise.

Gifts & Redemptions:

As for rewards redemptions, you can choose to redeem instantaneous rewards in the form of rebates for Blaze fuel or Petron Treats Mart purchases.

Alternatively, if you can wait for your gratification, browse through the
Merchandise Redemption
 online catalogue for a variety of products that include little toys for children, hair styling tools, supermarket vouchers, and more.

Extra Perks:

Unlike the BonusLink Card, you can’t earn Petron Mile Points from other partners.
 However, there are promo codes available on the website that Petron Miles members can use to get discounts on Bungkusit, Bawiq app, and even Covid-19 rt-PCR tests with BookDoc.

PETRONAS Mesra Card

As of 1 April 2020, the Mesra Loyalty Programme has gone digital. You can now link your Mesra Card to your Setel app to earn, review and redeem rewards with your Mesra Points.

Everyday Point Earning Ratio:

On the surface, earning points is simple with 1 Mesra Point awarded per litre of petrol or RM1 spent at Kedai Mesra. But the Mesra Loyalty Programme also includes a campaign that rewards members with bonus points as they spend with Setel. Adding to that, your Mesra card must be linked to your Setel account to receive the bonus points.

Special Campaign Point Earning Ratio:

Until 30 June 2021, all users can earn up to 3x Mesra Points when they purchase fuel or spend at Kedai Mesra with Setel. The campaign rewards you based on a tiered reward system that starts from 1.5x bonus points up to 3x bonus points; so the more you spend, the more bonus points you receive.

Points Tier

Mesra Points Earned Per Month

Bonus Points Multiplier

Tier 1

1 – 99 Mesra Points

1.5x

Tier 2

100 – 279 Mesra Points

2x

Tier 3

280 and above Mesra Points

3x

The Mesra Loyalty Programme website also lists another campaign but that is limited to only new Setel users; they can enjoy up to 10x Mesra points for every RM1 spent on fuel, Kedai Mesra purchases, Setel top-up, and Deliver2Me, when they pay using Setel at PETRONAS stations. While the campaign goes on until 30 June 2021, the bonus point-earning period is limited to the first 30 days upon successful registration and is capped at maximum 800 bonus Mesra points only.

Gifts & Redemptions:

When it comes to rewards, the Mesra Rewards pack a punch. From as low as 800 points, you can redeem vouchers for Dunkin’ Donuts, Baskin Robbins, CakeSense, or you could accumulate points for larger rewards like a Google Nest Mini.

Extra Perks:

In addition to redeeming vouchers on Setel, you can also convert your Mesra Points to AirAsia BIG Points, flash your Mesra Card for 15% off admission to Petrosains, and even earn more Mesra Points when you shop at Rebate Mango.

BHPetrol eCard

If you’re looking for a fuss-free petrol loyalty programme with a digital presence then the BHPetrol eCard should top your list.

Everyday Point Earning Ratio:

Available as a physical card or a digital one via a new mobile app, you can earn 1ePoint for every 1L spent on petrol and diesel or RM1 spent on BHPetromart items.

Special Campaign Point Earning Ratio:

As of 1 April, BHPetrol is giving out 2x ePoints for every litre of Infiniti Ron 95, Ron 97 and Euro Diesel B10 fuel, and 3x ePoints for every litre of Infiniti Euro 5 Diesel B7. While the specifics of the campaign (including the end date) were not provided, the banner on the website did state “terms and conditions apply.”

Gifts & Redemptions:

BHPetrol eCard does offer great rewards. With only 550ePoints, you can redeem RM5 worth of fuel and with 950ePoints RM10 worth of fuel.

However, accumulating your ePoints will allow you to tap into more attractive rewards at their
online catalogue
 that features a wide array of categories. The more prominent reward gifts that stand out include Elba home appliances, Dyson hairstyling tools, Huawei gadgets, and many more.

Extra Perks:

While Lim Tayar is mentioned as a
BHPetrol Partner
, there is no information on the perks of this partnership.

Caltex JOURNEY Card

Teaming up with B Infinite, the Caltex Journey Card not only allows you to earn BPoints when you pump petrol but also when you spend at any participating B Infinite merchants.

Everyday Point Earning Ratio:

The JOURNEY Card gives 1BPoint per litre of petrol.

Special Campaign Point Earning Ratio:

There weren’t any ongoing promotions listed on their website at the time this article was written.

Gifts & Redemptions:

The BPoints can be used to redeem Caltex petrol, selected items at Caltex convenience stores, and deals on restaurants and spas from the
B Infinite website
.

Extra Perks:

Even though you only get 1BPoint per litre of petrol, it’s still easy to accumulate points from the vast network of participating B Infinite merchants that include Starbucks, Kenny Rogers, and more.

So, which petrol loyalty programme is the one for you?

Comparison Aspect

Loyalty Programme

BonusLink Card, Shell

Petron Miles Privilege Card

PETRONAS Mesra Card

BHPetrol eCard

Caltex JOURNEY Card

Everyday Point Earning Ratio

1L = 1 BonusLink Point

1L = 2 Miles Points

1L = 1 Mesra Point

1L = 1 ePoint

1L = 1 BPoint

Special Campaign Point Earning Ratio

Up to 4x Bonus Point Multiplier until 31 July 2021

N/A

Up to 3x Bonus Points until 30 June 2021

New Setel Users only:

10x Bonus Points for every RM1 spent until 30 June 2021

Up to 3x ePoints, T&Cs apply.

N/A

Gifts & Redemptions

Redeem fuel, snacks, and treats from 100 points

Redeem fuel and other merchandise

Redeem vouchers for dining, beauty, services, and more

Redeem fuel and lavish gifts

Redeem fuel and vouchers for dining, beauty, and more

How will these benefit you and your daily drive?

Using a Perodua Myvi as a touchstone for comparison,

let’s see how many points you can get with each programme.

The average Perodua Myvi which requires

 roughly 36L of petrol for a full tank, or approx. RM73.80 of RON 95 fuel*.

* RON95 fuel price at RM2.05/L as of Apr 9, 2021

Points Earned for Single Visit

36 BonusLink Points

72 Miles Points

36 Mesra Points

36 ePoints

36 BPoints

Points Earned for Multiple Visits (4 visits per month)

Everyday
Earning: 144 BonusLink Points

Special Campaign Earning: 360 BonusLink Points

Everyday Earning: 288 Miles

Everyday
Earning: 144 Mesra Points

Special Campaign Earning (existing users) 252 Mesra Points

Everyday Earning: 144 ePoints

Special Campaign Earning: 288 ePoints

Everyday
Earning: 144 BPoints

And there you have it. When it comes to the Everyday Point Earning Ratio for single visits, the Petron Miles Privilege Card tops the list with 2 Miles Points per litre. For a full tank of 36L, you would get 72 Miles Points — the highest points accrued across the board.

Alternatively, for the same amount (36L of fuel) you would get 36 Points for the
BonusLink, PETRONAS Mesra, and the rest of the loyalty programmes respectively.

Similarly, when it comes to multiple visits for weekly fuel top-ups (i.e. 4 visits per month), Petron offers a large number of points with 288 Miles points per month, followed by BonusLink, BHPetrol, Petronas Mesra, and the Caltex Journey Card (144 points each).

However, from now until 31 July 2021, Shell does have a leg up
with the highest number of points earned with multiple visits
 for existing customers
at 360 BonusLink Points because of the
“Ekstra Ganjaran Setiap Hari” campaign
.
Offering the highest reward points per RM1 spent during a campaign period, you can maximise your earnings with 4x BonusLink Points
 as long as you meet the campaign requirements.

So, the next time you’re fuelling up and you get asked if you want a loyalty card, why not opt in and take advantage of their reward points? Try them all and find out for yourself which loyalty programme best suits your needs and lifestyle!

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Sasha Belani

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    Jia

    2 years ago

BHPetrol is only awarding 2ePoint per every Litre purchased w.e.f. 1st April 2021, and NOT 1ePoint for every RM1 spent (though, the website is showing 1ePoint per every litre purchased
http://www.bhpetrol.com.my/products-services/cards-services/bhpetrol-ecard/overview
 )

Caltex on the other hand, has a 250 BPoint earning cap limit per each swipe, say if you are purchasing more than 250 Litre of fuel, Caltex Journey Card user is required to “request” the cash register operator to perform 2 swipes, or else, user will only earn a max 250 BPoint per swipe. (Limitation on their BPoint POS System)

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    Eugene Tan

    2 years ago

Thank you for the in-depth details on petrol points. I hope you could continue update after 31st July or when there is a new promo. Thank you once again.

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    Baskaran Ramasamy

    2 years ago

I think the best rewards is to redeem for Fuel petrol again .

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TNG GO+ Bonus Rate Ends Early As Bonus Allocation Fully Earned

The Touch ‘n Go eWallet’s GO+ 4% p.a. bonus rate has been fully redeemed, four days ahead of the end of its campaign. GO+ users will now only earn the usual nett daily return rate of 1.39% p.a..

Introduced back in November 2021, TNG Digital announced that GO+ users will earn a bonus rate of 4% p.a. on top of the usual daily return rates (usually above 1.30% p.a.). This made GO+
the highest-earning money market fund platform
during the campaign period.

However, an app notification sent to TNG eWallet users this morning announced that the bonus rate allocation has been fully redeemed ahead of the 31 January 2022 campaign end date. In its original terms and conditions, TNG Digital stated that it allocated RM4 million for this bonus rate campaign, and that the campaign will end once the allocated amount has been fully earned by GO+ users.

The notification reads:

Good things come to an end
Thank you for your support. Our rewards from our GO+ Bonus Campaign has been fully redeemed. You can still continue to earn daily returns & pay using GO+.

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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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MAVCOM: Most Airfares For GE15 Now Decreased

(Image: The Borneo Post)

The Malaysian Aviation Commission (MAVCOM) has remarked that the prices of most flights during the 15
th
 general election (GE15) travelling period are now significantly lower than the initial spike seen after the GE15 announcement. This came following the completion of its review of airfares for domestic flights that will be operating between 16 to 20 November 2022.

According to MAVCOM’s assessment, the average airfare for one-way domestic flights (across all airlines) for routes within Peninsular Malaysia now stands at RM185. Meanwhile, the average airfare for routes within East Malaysia is RM188, and RM296 for routes between Peninsular Malaysia and East Malaysia.

Additionally, the commission observed that a small percentage of routes have airfares that are higher than average. To resolve this, MAVCOM urged airlines to increase the capacity for these specified routes during GE15 as demand is likely to increase closer to the polling date.

“Moreover, MAVCOM has requested that airlines increase capacity on (all of) its operating routes during the GE15 travelling dates in ensuring that enough flights are available to various domestic destinations at an affordable price,” MAVCOM further noted in its statement, although it also acknowledged that all local scheduled airlines have already taken the initiative to plan extra flights for various routes starting from November 2022, using the resources at their disposal.

Similarly, executive chairman of MAVCOM, Datuk Seri Hj. Saripuddin Hj. Kasim said that the commission is pleased to see that airlines are doing their part to support voters during GE15. “However, more can be done, and airlines must continue to play their part for the nation during this critical period,” he commented.

(Image: Sinar Harian)

Datuk Seri Hj. Saripuddin also emphasised that airlines have introduced promotions and discounted airfares to help alleviate the financial burden on voters as they return to their home states for the occasion. “There are also existing discount schemes offered by airlines specifically for student travellers, which could aid travel for young voters,” he said, responding to recent remarks that young and first-time voters are discouraged from returning home to vote
due to expensive flight prices
.

Meanwhile, caretaker Transport Minister, Datuk Seri Wee Ka Siong had reassured the public last week that
MAVCOM will monitor the prices of flight tickets ahead of GE15
. This came following an earlier public outcry over the massive surge in flight ticket prices for the election weekend, minutes after the Election Committee announced the polling dates on 20 October 2022. At that time, ticket prices (one-way) were reported to have soared above RM650 for various domestic routes.

(Source:
MAVCOM
)

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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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Alliance Bank And Zurich Introduce Nation’s First Cyber Insurance Plan

Alliance Bank Malaysia and Zurich Malaysia have teamed up to offer Z-Alliance Cyber Protect, a personal cyber insurance plan designed to safeguard Malaysians against financial losses arising from cybercrime. The cyber insurance plan is the first of its kind in Malaysia.

The Z-Alliance Cyber Protect covers losses caused by online identity theft, extortion, and fraud. It also provides for restoration costs, such as laptop repair fees due to malware incidents, and loss from fraudulent transactions arising from undelivered goods or services. Furthermore, you can get coverage on overseas purchases delivered to Malaysia. The protection extends to the insured’s spouse and children within the same household, too.

“Cybercrimes are a prevalent threat of our digitised environment, more so during the Covid-19 pandemic as more consumers go online to shop for their essentials,” said Joel Kornreich, group chief executive officer of Alliance Bank. “This makes Z-Alliance Cyber Protect personal cyber insurance a timely solution to protect customers from being victims of cybercrime.”

Zurich General Insurance Malaysia Berhad Chief executive officer Junior Cho observed that Malaysians are becoming more comfortable purchasing things online, with e-commerce transactions growing 1,380% in August compared to the year before. Likewise, he cited that between March to June, reported cyber fraud cases have expanded by 90% over the same period last year, with losses estimated at RM247 million.

“Our new product can help alleviate some of the concerns customers face when transacting online. The coverage even extends to other members of the household for added peace-of-mind,” he said. “We understand assurance and protection is invaluable in enhancing the lifestyle of Malaysians, and are pleased to introduce this product that meets the need of consumers.”

Z-Alliance Cyber Protect is also affordable, costing only RM116 a year or 31 sen a day, inclusive of sales and service tax. The plan can be easily purchased online, and customers who buy Z-Alliance Cyber Protect online from 1 November 2020 until 31 March 2021 get an additional month of complimentary coverage for their thirteenth month.

If you are one of the first 100 customers to buy the plan using an
Alliance Bank Visa Infinite
 or
Platinum credit card
, you are also eligible for a complimentary RM10 shopping voucher and a one-year subscription to CTOS Secure ID, a fraud protection and credit monitoring system worth RM86.90.

Find out more about the
Z-Alliance Cyber Protect
 plan here.

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BigPay Rolls Out New Bill Payments Feature On Its App

BigPay has updated its app with a new Bill Payments feature today, allowing customers to settle their bills with over 20 billers. In addition to that, the upgrade also lets you set payment reminders, split bills among family members and friends, and earn BIG Points as you carry out your financial obligations.

According to BigPay, the billers that are currently available via this new feature include telcos, internet providers, as well as utilities service providers (water and electricity). You will be able to make payments to companies such as Astro, Celcom, Telekom Malaysia, Air Selangor, Sabah Electricity, and Sarawak Energy – unfortunately, no Tenaga Nasional Berhad (TNB). BigPay also said that it will continue to expand the list of billers so that customers can enjoy even more financial ease in the future.

Additionally, the Bill Payments feature comes with the advantage of a monthly reminder tool to help you with your recurring bills. You can ensure that you do not miss out on monthly bill payments by setting up an automatic reminder, thereby saving on late penalty fees. For further convenience, you can also save your transaction details for these recurring bill payments so that you do not need to re-enter the billing account information again in subsequent payments.

Meanwhile, those who share their monthly bill expenses with other people – such as individuals who are renting a house together – can tap into the split-bill function offered. Instead of going through the hassle of manually calculating the bills and sharing your bank details with your family and friends each month, you can easily pay and split the bill with them through the BigPay app.

On top of that, you will also be rewarded for paying your bills via the BigPay app; customers can earn 1 BIG Points for every RM20 spent on bill payments via the new feature. For comparison, BigPay currently offers
1 BIG Points for every RM30
 spent on BigPay for other expenses.

BigPay’s new Bill Payments feature and its accompanying functions can be found on the “Payment” option at the bottom of the main screen, and then on “Bills”. From there, you can then proceed to carry out your transactions. According to BigPay, each transaction must be confirmed with a secure PIN, and the payment process is also secured with multiple layers of security, including a one-time password (OTP).

“We are thrilled to launch our financial marketplace with Bill Payments. This brings us one step closer to becoming a one-stop solution for our users’ financial needs,” said the co-founder of BigPay, Salim Dhanani. He also revealed that BigPay has a pipeline of new products and features that will be rolled out in coming year, including digital loans, insurance, and wealth management.

To find out more about
BigPay’s new Bill Payments feature
, you can head on over to its website.

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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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KPDN Directs TNG To Rebrand Visa Prepaid Card, Address Other Service-Related Issues

(Image: Lowyat.NET)

Touch ‘n Go (TNG) has been directed by the Ministry of Domestic Trade and Cost of Living (KPDN) to implement six follow-up actions to resolve several issues related to its services, including rebranding its recently launched TNG Visa prepaid card. This came following a meeting held between a special KPDN taskforce, TNG representatives, the Works Ministry, and the Malaysian Highway Authority (LLM).

KPDN minister Salahuddin Ayub explained specifically that the rebranding of the TNG Visa prepaid card is necessary to avoid causing confusion among the public. This is because Malaysians have come to closely associate the TNG brand with toll and public transportation payment systems, whereas the
TNG Visa prepaid card
 cannot be used for these transactions. Instead, it can only be used for making card payments at Visa merchants globally and withdrawing cash at ATMs worldwide.

“The government recommends that the name of the Visa card be changed so as not to confuse users since the word ‘Touch ‘n Go’ is synonymous with the toll payment system,” said Salahuddin in a post on his official Facebook page.

(Image: New Straits Times)

TNG had previously explained that the company did originally attempt to produce a single card that combines the capabilities of both the Visa prepaid card and the existing TNG card (which allows toll and public transport payments). However, it was eventually discovered that it is not possible as a single card that carries both near-field communication (NFC) and Visa Wave chips
resulted in interference problems
.

Aside from the recommendation to rebrand the TNG Visa prepaid card, KPDN also urged TNG to address several other issues related to its services, including the scarcity of the
enhanced TNG NFC card
 in the market, difficulties in getting a refund of TNG card balances, and users not realising that their cards have expired. Here is the full list of steps that TNG has been asked to implement:

Steps
Details
Rebrand TNG Visa prepaid card and notify the public of the capabilities of the new card
N/A
Increase the number of TNG sales and service centres
TNG currently only has two existing sales and service centres within Malaysia:
KL Sentral and Bangsar South
.
Provide early notification to users of expiring TNG cards
The classic TNG card and enhanced TNG NFC card each has a lifespan of 10 and 7 years, respectively.
Speed up the refund and balance transfer process for TNG cards
TNG’s
eRefund process
 currently takes up to 30 days.
Strive to remove all TNG card listings made by unauthorised third parties (in partnership with e-commerce platforms)
Instructions have been issued to e-commerce platforms to assist in this.
Prepare a follow-up action plan, to be presented to the special KPDN taskforce by 1 February 2023
N/A

KPDN also stressed that its enforcement division will take legal action against any parties that are found to be selling the enhanced TNG NFC card at a price above the original cost. This is to be carried out under the Price Control and Anti-Profiteering Act 2011 (Act 723).

To note, the enhanced TNG NFC card is priced at RM10 per card, whereas special edition cards (such as the
Mission GreenPossible
 and the
United Voice cards
) typically cost RM25. Scalpers, meanwhile, have previously been found to
sell the cards for up to RM100
.

(Sources:
Salahuddin Ayub
,
The Star
)

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Alex Cheong Pui Yin

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Last Minute Christmas Gift Ideas You Can Purchase Online

Christmas is just a week away and if you’re anything like some of us at the office; you’re probably more caught up trying to get the work done and close the books than trawling malls for Christmas presents!

But whatever your reason for delaying your gift buying; we’ve got some ideas on how to manage your giftee list without even leaving your desk! All you need is a
credit card
 and some ingenuity.

Why a Credit Card?

Before we get into the list proper, you might wonder why a credit card and not an online banking account. The reason is, the credit card opens up way more online shopping options than your online banking account.

If you are buying from overseas merchants or making a particularly large payment – your credit card will come in handy. Also, you get to earn sweet, sweet cashback or rewards points (depending on which your card offers) so why ever not?

Now that we’ve got that out of the way – what can you do for a last minute gift?

Buy an Experience

Whether it’s a stay at a nice hotel or a Deal site coupon for a massage – these gifts do not need to be handed physically to the recipient on Christmas day.

Pay for a weekend stay at a nice hotel and then pass the booking document to the recipient. Same goes for a deal coupon- you don’t have to take the person immediately to the spa – the coupon will allow the recipient to schedule their pamper sessions at their convenience!

Did we mention you could do all this online with a click and a printer? Yup, that’s the best part.

Buy a Subscription

Is your giftee a music junkie or perhaps a lover of a particular magazine? Why not buy them a subscription to said magazine or a paid online music streaming service such as Spotify?

Spotify allows you to gift Spotify Premium
 to a loved one for 1, 3, 6 or 12 months depending on your budget. Prices range from RM14.90 – RM178.80.

Magazine subscriptions differ based on whether these are local or foreign publications but almost all offer worldwide delivery albeit for a higher fee. It’s a gift that won’t need to be under the tree this Friday but will keep on giving all year round (or for as long as you decide to pay for it!).

Again, it can be purchased easily with your credit card online.

E-Vouchers and E-Gift Cards

Many online retailers sell e-vouchers that you can easily buy online and present to your loved one on Christmas Day. E-vouchers allow the recipient to buy whatever they want and save you the hassle of rushing to the store on Christmas Eve.

Your favourite online shopping destinations such as
Zalora
,
Amazon
,
ASOS
, and
Toys R Us
 to name a few, offer e-vouchers and giftcards so you don’t have to go anywhere to buy your gifts.

Your recipient will also be able to redeem their vouchers online. Sounds like win-win for everyone.

Paid Digital Downloads

If your recipient is a gamer or lover of music and movies, another thing you could do is buy credit on
iTunes
. Plus points if you know the games they like to play and can easily buy digital downloads from the game company’s website.

You could also purchase specific albums or movies on iTunes if you know the kind they like.

There are a lot of online downloads such as e-books, software, services and subscriptions. If you know what your recipient would like; it’s all a matter of heading to the requisite site and finding out if a gifting option is available.

Make a Future Promise

If all else fails and you find yourself empty handed on the day – the final thing we have to suggest is that you make a future promise to make good on the gift that never was.

You could promise your giftee an expensive lunch or dinner and even take the step to make reservations beforehand. You could similarly promise a shopping day or to treat them to something they may like in the future.

The only thing we have to stress is that you do keep your promise!

Gift-giving can be stressful when you have so many people to buy for as you do for an event like Christmas but with the help of the internet and your trusty credit card; you can easily skip the long cashier queues and ridiculously crowded mall carparks.

If you find, at the end of your Christmas shopping spree, that your credit card only earned you ho-hum benefits and cashback, we hate to break it to you; but it may be time to cut it up and replace it with a sleeker, more rewarding new model. Check out the
best credit cards in Malaysia
 on our comparison page.

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Tips to Help You Pay Off Your Credit Card Debt

Credit card debt is the stuff of urban horror stories: you weren’t careful and now you’re avoiding phone calls and shredding the payment reminders. The exorbitant interest rate levied on your debt is higher than any other credit facility in the market (save for
ah longs
!).

For those of you with lingering credit card debt, here are a few tips to help you work your way towards a credit card debt-free existence.

Shake-up Your Budget with Your Own Repayment Plan

Make paying off your credit card balance a priority in your budget, rather than just paying the minimum required amount every month.

Create a credit card repayment plan with the goal of being credit card debt-free within a set number of months. Calculate the amount you need to pay every month in order to achieve that goal. Table that amount in your budget and pay it as you would pay a utility bill.

It is much easier to stay on track if you have a plan, and staying on track is key to achieving debt-free status.

Plough Your Savings into Your Credit Card Debt

It may sound counter-intuitive to burn your hard-earned savings on your credit card debt, but considering the fact that the interest charged on your credit card debt eclipses whatever interest your savings account offers, it is only logical to use your slow-growing savings to stem your fast-bleeding credit card debt.

The idea of using your savings to plug your credit card debt may come across as untenable to some. Remind yourself that you risk a grimmer financial fate than having your savings obliterated if you do not deal with your credit card debt.

Of course, leave some cash in your bank account for emergencies as well.

Pay the Most Expensive First

If you are shackled by multiple credit card debts, pay off the balances in order of the card with the highest interest rate first. This makes sense to avoid paying that higher rate for longer than absolutely necessary.

Build your credit card repayment plan around getting rid of your high-interest credit card balance first, while paying only the minimum amount for the other cards. Here’s the only time where it is acceptable to pay the minimum amount.

Should all your cards have the same interest rate, pay the one with the lowest remaining balance. This is more psychological than practical. The feeling of paying off the balance will get you motivated to pay off the rest as you will actually see your efforts working before too long.

Balance Transfer to Restructure Your Credit Card Debt

Finally, have you considered using balance transfer to
restructure
 your credit card debt into something more manageable?

Balance transfers allow you to consolidate your credit card debt into a single card to take advantage of that card’s low interest rate, which could be as low as 0% for a set number of months. Find out if balance transfers are for you by considering
these factors
.

If you are interested in applying for a balance transfer, you may find a card that suits you with
our card comparator
.

Conclusion

Remember, you won’t get there in a day, so do not give up even if you slip up. As long as you get back on the repayment saddle, you would eventually emerge out of the hole of credit card debt.

After going down the list it may seem as if the credit card is the devil incarnate, which is not true. Credit cards are good friends to have, if you are disciplined enough to pay off your balance on time, preferably in full before you incur any interest on the balance.

A credit card could be a lifesaver in an emergency and you could add value to your purchases by accruing credit card points, cashback or get various perks like 2-for-1 movie tickets and dining discounts. You just have to use it right.

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Hong Leong cards now protected by One-Time-Password for online transactions

Good news for Hong Leong credit card, debit card and prepaid card holders who regularly make transactions over the Internet. Your card is now enhanced with a
One-Time-Password (OTP) security feature
.

The OTP is an extra level of protection for online shopping that is sent to your mobile phone for authentication purposes. It saves you from the need to memorise an Online PIN.

Now you can go ahead and shop online to your heart’s content without any worries. Do read through the
FAQ section
 if you’d like to learn more about this feature.

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Second Phase Of BPN Payments To Be Completed By This Weekend

(Image: The Sun Daily)

The Ministry of Finance aims to complete all payments for the second phase of Bantuan Prihatin Nasional (BPN) payments by this weekend at the latest.

According to Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz, the second phase of payments have already begun, involving 5.79 million recipients and RM2.63 billion in payments. “Out of the total 8.3 million recipients approved, the payment achievement for Phase 1 was at 96% while Phase 2 is ongoing and is at the 49% level,” said Tengku Zafrul.

For recipients who do not have bank accounts or have met with the status “Failed to Be Credited”, cash payments can be made from Bank Simpanan Nasional from 14 May onwards. The minister of finance said that this is estimated to involve 800,000 recipients with an allocation of RM300 million.

Meanwhile, those who have applied for the BPN aid but have been rejected can
submit their appeals
 to Lembaga Hasil Dalam Negeri (LHDN) until the end of the month.

The
BPN financial aid
 was announced as part of the Prihatin Economic Stimulus Package, and is offered to individuals who belong to the B40 and M40 income groups. The
first phase
 was disbursed earlier in April and the ongoing second phase, which makes up the final round of BPN payments, began last week on 4 May.

(Source:
The Sun Daily
)

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