Insurance Terms and Definitions Glossary

A

Accelerated Benefits

An optional benefit under life insurance policies under which the insurer agrees to prepay a part of the death benefit if the insured is stricken by a catastrophic illness or is confined to a nursing home.

Acceptance

Agreeing to terms by means of which a bargain is concluded and the parties are bound; the binding of an insurance contract by the insurer.

Accident

An event or occurrence that is unforeseen and unintended.

Accident Insurance

A form of health insurance against loss by accidental bodily injury.

Accidental Bodily Injury

Injury to the body of the insured as the result of an accident.

Accidental Death Benefit

A provision added to a life insurance policy for payment of an additional benefit in case of death by accidental means; it is often referred to as “double indemnity.”

Actuary

A person professionally trained in the technical aspects of insurance and related fields, particularly in the mathematics of insurance such as the calculation of premiums, reserves, and other values.

Adjustable Life Insurance

A type of life insurance that allows the policyholder to change the plan of insurance, raise or lower the face amount of the policy, increase or decrease the premium, and lengthen or shorten the protection period.

Adjuster

One who settles insurance claims; may be a salaried employee or an independent operator.

Age Limit

In accident, life, or automobile insurance, the age below which or above which an insurer refuses to insure an applicant.

Agent

In General and Life insurance, an individual authorized by an insurance company to sell insurance and service customers in the name of the insurance company. Insurance agents usually, but not necessarily have received special education in insurance through official bodies and training by the insurance company. Certification is required to become an agent and to beallowed to sell certain types of insurance.

All-Risk

A term commonly used by insurance people to describe broad forms of coverage; it is misleading because no property or liability insurance policy is truly an all-risk coverage. There is a concerted effort to eliminate use of this term and to replace it with the term
open peril.

Allocated Benefits

In health insurance, coverage for which the maximum amount payable for specific services is itemized in the contract.

Ambulatory Care

Medical services that are provided on an outpatient (non-hospitalized) basis; services may include diagnosis, treatment and rehabilitation.

Amendment

A formal document changing the provisions of an insurance policy signed jointly by the insurance company officer and the policyholder or his authorized representative.

Annual Limit

The maximum amount that can be paid out to settle your claims for one policy year. The higher your annual limit, the higher your premium will be.

Annuity

A contract that provides an income for a specified period of time, such as a number of years or for life.

Application

A statement of information made by a person applying for life insurance: it is used by the insurance company to determine the acceptability of the risk and the basis of the policy contract.

Appraisal

An estimate of value, loss, or damage; see Arbitration.

Arbitration

The submitting of a matter in dispute to the judgement of a specified number of disinterested persons called arbitrators, whose decision, called an award, is binding upon the parties.

Assured

A person who has been insured by an insurance company or underwriter against loss.

Automobile Liability Insurance

A form of liability insurance that is specifically designed to indemnify for loss incurred through legal liability for bodily injury and damage to property of others caused by accident arising out of ownership or operation of an automobile.

B

Beneficiary

One for whose benefit a contract is made: the person to whom a policy of insurance is payable.

Beneficiary, Contingent

The person or persons designated to receive the death benefit if the primary beneficiary dies prior to the death of the insured.

Beneficiary, Irrevocable

A beneficiary that cannot be altered by the insured, the insured having relinquished the right to change the beneficiary designation.

Beneficiary, Primary

The person or persons designated to receive the benefits under the policy.

Betterment

When your damaged vehicle is sent for repair, it is normal that some wrecked parts are replaced with new franchise parts. Your insurer will only bear a portion of the costs. You will have to pay the difference according to the standard scale of betterment which can range from 0% to 40%.

Binding Receipt

In life insurance, a receipt for the first premium paid, that accompanies the application for insurance. It binds the company if issuance is approved, to make the policy effective from the date of the receipt. (also see “Effective Date”)

Breach of Contract

Failure to comply with the terms or conditions incorporated in an insurance policy, frequently resulting in a restriction of coverage or a voiding of a policy itself.

Broker

An individual who arranges and services insurance policies on behalf of the insurance buyer: he or she is the representative of the insured, although the broker receives compensation in the form of a commission from the company.

Burglary

Felonious abstraction of property from within premises by persons making felonious entry by force of which there are visible marks on the exterior.

Business Interruption

Insurance covering the loss of earnings resulting from, and occurring after, destruction of property; also called “use and occupancy insurance.”

Business Life Insurance

Life insurance purchased by a business enterprise on the life of a member of the firm: it is often bought by partnerships to protect the surviving partners against loss caused by the death of a partner, or by a corporation to reimburse it for loss caused by the death of a key employee.

C

Casualty Insurance

A classification of insurance coverages,consisting of workers compensation, liability, crime, glass and boiler coverages, used to distinguish such coverages from “fire” or property coverages.

Claim

Notification to an insurance company that payment of an amount is due under the terms of a policy.

Claims-made Form

A liability insurance policy under which coverage applies to claims made during the policy period; see Occurence Form

Combined Ratio

A rough indication of the profitability of a property and liability insurer’s underwriting operations, generally computed by adding the ratio of losses incurred to premiums earned and expenses incurred to premiums written. In general, a combined ratio below 100% expresses a profit to the insurer, a combined ratio above 100% means a loss to the insurer.

Commission

The fee paid by the insurance companies to agents for the sale of policies. The commission is usually negotiable and differs from insurance product to product.

Concealment

Deliberate failure to reveal material facts that would affect the validity of a policy of insurance.

Conditionally Renewable

A continuation provision in health insurance under which the insurer may not cancel the policy during its term but can refuse to renew under specified circumstances.

Conditions

Those provisions in insurance contracts that qualify the insurer’s promise of indemnity or impose obligations on the insured.

Contract of Indemnity

A contract to make good or restore, as best as possible, the insured to the same position immediately before the loss or damage by way of payment, repair or replacement.

Contribution

The insurer is liable only for the insurer’s rateable proportion of the loss or damage in the event other insurers are also liable for the loss or damage.

Conversion Privilege

Privilege granted in an insurance policy to convert to a different plan of insurance without providing evidence of insurability. For example, in medical insurance, a different plan could be chosen without requiring a new medical check-up.

Coverage

The insurance afforded by the policy. Also see “sum insured”

Co-insurance/Co-takaful

You’ll have to pay a certain amount of your medical fees, generally set at 10% – 20% of the total bill. The balance will then be covered by your medical insurance policy.

D

Damages

The identified amount claimed or allowed as compensation for injuries sustained or property damaged through the wrongful acts or the negligence of another.

Declarations

That part of an insurance policy containing the representations and personal details of the applicant, such as for example past medical conditions or past accidents.

Deductible

This is an agreement between the policyholder and the insurance company to share the costs of a medical treatment. For example, if the deductible option is RM100, and the total medical bill is RM300, your insurer will only pay for the remaining RM200.

Dental Insurance

A type of health insurance that covers dental care expenses

Dependency Period

The period during which children will be dependent on a surviving parent, commonly until the age of 18 or 21.

Disability

Inability to perform all or part of one’s occupational duties because of an accident or illness; see Total Disability and Partial Disability.

Disability Benefit

A provision added to a life insurance policy for waiver of premium, and sometimes payment of monthly income, if the insured becomes totally and permanently disabled.

Disability Income Insurance

A form of health insurance that provides periodic payments to replace lost income when the insured is unable to work because of illness or injury.

Discovery Period

The period after termination of an insurance policy or bond, or after the occurrence of a loss, within which the loss must be discovered/identified, in order to be covered.

E

Effective Date

The date on which the legal obligation by the insurance company is created. Not to be confused with “Inception/Issue Date” and “Policy date”.

Employers Liability

Legal liability imposed on an employer making him or her responsible to pay damages to an employee injured by the employer’s negligence. Generally, replaced by “workers compensation,” which pays the employee whether the employer has been negligent or not.

Endowment Insurance

Insurance payable to the insured if he or she is living on the maturity date stated in the policy, or to a beneficiary if the insured dies prior to that date.

Evidence of Insurability

Any statement of proof of a person’s physical condition and/or other factual information affecting his/her acceptance for insurance.

Exclusion

That which is expressly eliminated from the coverage of an insurance policy.

F

Face Amount

The face amount is the lump sum payment the insurer promises to pay the policyholder in case the insured event takes place.

Fire Insurance

Coverage for losses caused by fire and lightning, as well as the resultant damage caused by smoke and water.

Fire Legal Liability

A form of liability insurance that covers damage to leased or rented property caused by fire or other specified periods.

Free-Look Period

A period of time, usually 15 days, during which a policyholder may examine a newly issued individual insurance policy, and surrender it in exchange for a full refund of premium minus claims made.

G

Grace Period

A provision which allows the policyholder 30 days after the premium due date to make a full payment to keep the policy in force. Failure to do so will result in a lapse of your insurance policy, or lower pay-outs for claims.

Group Insurance

Any insurance plan under which a number of employees and their dependents are insured under a single policy, issued to their employer, with individual certificates given to each insured employee; the most commonly written lines are life and accident and health.

Guaranteed Level Premiums

Premiums payments will remain the same throughout your policy contract period. These types of policies generally have higher premiums at the beginning but will get lower towards the end of your contract.

H

Health Insurance

A generic term applying to all types of insurance indemnifying or reimbursing for losses caused by bodily accident or sickness or for expenses of medical treatment necessitated by sickness or accidental bodily injury.

I

Inception/Issue date

The date on which the insurance company approves and accepts your application. Not to be confused with the “Effective Date” and the “Policy Date”.

Indemnity

Restoration of the claimant to the same financial position after any loss or damage by giving payment, repair, or replacement.

Insurance

An economic device whereby the individual substitutes a small certain cost (the premium) for a large uncertain financial loss (the contingency insured against) that would exist if it were not for the insurance contract; an economic device for reducing and eliminating risk through the process of combining a sufficient number of homogeneous exposures into a group in order to make the losses predictable for the group as a whole.

Insurable Interest

The person who purchases the insurance has an ‘insurable interest’ in the subject matter of the insurance if the loss or damage of it would result in a financial loss to the person.

Insured

In life insurance, the person on whose life an insurance policy is issued; in property and liability insurance, the person to whom or on whose behalf benefits are payable under the policy.

Investment-linked Insurance

An insurance policy that allows a for a portion of your premiums to be allocated towards an investment fund of your choice. The benefits of your policy will depend on the performance of the investment-linked funds.

J

Joint Insured

Two or more persons whose names or interests are insured under the same or identical contracts.

L

Lapse

Termination of a policy because of failure to pay the premium.

Liability

A debt or responsibility; an obligation that may arise by a contract made or by a tort committed.

Life Insurance

A contract which guarantees the payment of a lump sum amount upon the death of the policyholder, or other circumstances mentioned in the contract.

Lifetime Limit

The maximum amount that you can claim from your insurance company during your lifetime. A lifetime maximum coverage limit is generally associated with health and medical insurance.

Limits

The value or amount of a policy; the greatest amount that can be collected/claimed under the policy.

M

Maturity Date

The date at which an insurance policy has completed its full term and the face amount becomes payable, provided that the insured person survives to that date.

Maturity Value

The amount payable to a living insured person at the end of an endowment period or to the owner of a whole life policy if he lives past a certain age.

Mortgage

A deposit or conditional transfer to secure the performance of some act; the person who makes the transfer is called the “mortgagor,” the other party, the “mortgagee”; sometimes an intermediary called a “trustee” is appointed.

Mortgage Level Term Assurance

A transferable policy that includes savings and cash value that covers the repayment of the outstanding loan in the event of untimely death, disability, or critical illness of the borrower.

Mortgage Reducing Term assurance

A lump sum payment policy that covers the repayment of the outstanding loan in the event of untimely death, disability or critical illness of the borrower.

N

Name Insured

The person designated in the policy as the insured, as opposed to someone who may have an interest in a policy but not to be named.

No-Claim Bonus

A reward scheme for a policyholder if no claim was made against the policy within a specified period. It can mean a reduction on your premiums or an increase in your coverage limit, depending on your insurance type.

Nomination

Making someone as the beneficiary of a life or personal accident insurance policy.

O

Occupational Disease

A disease or condition of health that results from performance of an occupation; examples include psittacosis, mercury poisoning, dust collection in the lungs, and the like; in most states occupational disease is now covered as part of the workers compensation exposure.

Occurrence Form

A liability insurance policy under which coverage applies to injuries or damage sustained, during the policy period, regardless of when the claim is made; also see Claims-made Form.

Over-Insurance

A condition for when a policyholder has purchased coverage above the actual cash or market value of the insured asset, often associated with car insurance.

P

Paid-up Policy

An insurance policy which does not require you to pay future premium payments but has not been terminated by either death or maturity.

Payor Benefit

A provision generally included in juvenile life insurance policies waiving future premiums if the payor (usually the parent who pays the premium on the policy) becomes disabled or dies before maturity of the policy.

Permanent Life Insurance

A phrase used to cover any form of life insurance except term; generally insurance, such as whole life or endowment, that accrues cash value.

Personal Injury

In law, a term used to embrace a broad range of torts that includes bodily injury, libel, slander, discrimination, and similar offenses. Also, a standard insurance coverage that protects against a more limited group of torts (false arrest, detention or imprisonment, malicious prosecution, wrongful entry or eviction, and libel, slander, or defamation).

Plaintiff

A party to a lawsuit who brings charges against another party called the defendant.

Policy

The written contract of insurance that is issued to the policyholder insured by the company insurer.

Policyholder

Refers to an organisation or individual in whose name an insurance policy is registered to.

Policy Date

The date written on the policy. Policy date and inception/issue date are sometimes the same, but insurance companies often add a few days to the issue date to name a policy date. This allows time for the policy to be delivered to the insured. Also see “Inception/Issue Date” and “Effective Date”.

Policy Period

The term for which insurance remains in force, sometimes definite, sometimes not.

Premium

The payment, or one of the periodical payments, a policyholder agrees to make for an insurance policy.

Premium Period

The length of time covered by the premium, usually identical with the policy period by frequently not.

Pre-existing Condition

An exclusion clause included in medical and health policies which states that any injury or illness that exist before the effective date of the policy, for which the insured is still getting treatment or showing symptoms of will not be insured under the policy. Whether or not the policyholder is aware of his or her condition is negligible.

Probationary Period

(Also sometimes called “waiting period”) A period of time from the policy date to a specified date, usually 15-30 days, during which no sickness coverage is effective; it is designed to eliminate a sickness actually contracted before the policy went into effect–occurs only at the inception of a policy.

Provisions

The terms or conditions of an insurance policy.

Proximate Cause

The ‘immediate or effective cause’ that leads to an event.

R

Rate

The cost of a unit of insurance.

Rated Policy

An insurance policy issued at a higher-than-standard premium rate to cover the extra risk involved in certain instances where the insured does not meet the standard under-writing requirements; for example, impaired health or a particularly hazardous occupation.

Rebate

The return of part or all of a premium to a policyholder.

Reinstatement

It is the restoration of a lapsed policy. The reinstatement of a lapsed policy by the payment of all outstanding premiums. Depending on the period the premiums were outstanding, an interest may be charged.

Reinsurance

Insurance placed by an underwriter with a re-insurance company to cut down the amount of the risk assumed under the original insurance.

Renew

To continue; to replace, as with new policy. This refers for example to the annual renewal of an insurance.

Renewable Term Insurance

Term insurance that can be renewed at the end of the term, at the option of the policyholder, and without evidence of insurability, for a limited number of successive terms; the rates increase at each renewal as the age of the insured increases.

Rider

A document that amends the policy; it usually increases the benefits, waives a condition or coverage, or in any other way amends the original contract – the terms
rider
 and
endorsements
 are often used interchangeably. For example, a car insurance can add a rider for personal accident or a life insurance can add a rider for medical coverage.

Risk

In the abstract, used to indicate a condition of the real world in which there is a possibility of loss; also used by insurance practitioners to indicate the property insured or the peril insured against.

S

Schedule

A list of coverages or amounts concerning things or persons insured.

Single Premium Whole Life

A whole-life policy in which the initial premium, together with interest earnings is sufficient to pay the cost of the policy over its lifetime. For example, a one-off premium of RM100.000 is paid to provide sufficient premium for the lifetime of the policy.

Subrogation

The right of an insurer to be in the place of the insured having paid the loss to seek recovery of the loss from a third party.

Suicide Clause

Life insurance policy provision that limits the insurer’s liability to the return of premiums if the insured commits suicide during the first 2 years of the policy.

Sum Assured

The sum assured is a fixed lump sum payment the insurer promises to pay the policy holder in case the insured event takes place.

Sum Insured

The sum insured is a cap of how much the insurance company is willing to pay, based on the coverage as defined in the policy.

Surgical Expense Insurance

Health insurance coverage that provides benefits toward the physician’s or surgeon’s operating fees, usually with a scheduled amount for each surgical procedure.

Surrender

To give up an insurance policy. The insurance company pays the insured the total cash value, if any, which the policy has built up through premium payments.

Surrender value

The amount available in cash upon voluntary cancellation of a policy before it becomes payable on death, permanent disability, or maturity. It is also referred to as cash value.

T

Takaful

A co-operative system of reimbursement or repayment in case of loss, organized as an
Islamic
 or
sharia
 compliant alternative to conventional insurance.

Term

The length of time covered by a policy or a premium.

Term Life Insurance

Insurance payable to a beneficiary at the death of the insured, provided death occurs within a specified period, such as 5 or 10 years, or before “a specified age.

Theft

The unlawful taking of property of another: the term includes such crimes as burglary, larceny, and robbery.

Third Party

Someone other than the insured and insuring company.

Total Disability

Disability that prevents the insured from performing all the duties of his or her occupation or any occupation: the exact definition varies among policies.

U

Under-Insurance

A condition in which not enough insurance is purchased to cover the total cash or market value of the insured asset.

Universal Life Insurance

A flexible premium life insurance policy under which the policyholder may change the death benefit from time to time (with satisfactory evidence of insurability for increases) and vary the premium payments. Premiums (less expense charges) are credited to a policy account from which mortality charges are deducted and to which interest is credited at rates that may change from time to time.

Utmost Good Faith

The insured is to disclose to the insurer all material facts regarding the subject matter of the insurance and the circumstances pertaining to it which would influence the judgement of a prudent insurer.

W

Waiting Period

The period of time specified in an insurance policy which must pass before some or all of the coverage outlined in the policy can begin. Generally, it is 30 days from the policy inception/issue date.

Waiver of Premium

A provision that waives payment of the premium that becomes due during a period of covered total disability that has lasted for a specified period of time, usually, 3 to 6 months.

Wakalah

This is one of several models (and several variations) of how takaful insurance can be implemented. Wakalah represents an agreement where a takaful operator will act as an agent on behalf of the policyholder, and earns a fee for its services. The fee can be fixed or determined by an agreed profit ratio.

Warranty

A statement concerning the condition of the item to be insured that is made for the purpose of permitting the underwriter to evaluate the risk; if found to be false, it provides the basis for voidance of the policy.

Whole Life Insurance

Insurance payable to a beneficiary at the death of the insured whenever that occurs; premiums may be payable for a specified number of years (limited-payment life) or for life (straight life).

Workers Compensation

A system of providing for the cost of medical care and weekly payments to injured cost of medical care and weekly payments to injured employees or to dependents of those killed in industry in which absolute liability is imposed on the employer, requiring him or her to pay benefits prescribed by law.

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Live the London Life Right Here in Malaysia

Have you ever been on vacation to London and thought to yourself, “boy, I wonder what it would be like to live here”? Experiencing the sights and sounds of a place as a tourist doesn’t quite compare to actually living your day-to-day there. In fact, if you’re truly enamored with the essence of a place, living your life there can feel like a vacation every single day.

Now what if we told you there’s a piece of property right here in Malaysia that seeks to offer the distinguished elegance of living like a Londoner, no passport required?
Hyde Tower
 in i-City was conceived from the ground up precisely to bring you that lifestyle and experience.

Just as the famous city is known for being a capital of commerce and the central nexus of the United Kingdom, so too does Hyde Tower connect everybody around to everywhere they need to be. Located next to a Double Tree Hilton, Malaysia’s Largest Thai Mall, and a convenient LRT station that can take you anywhere, Hyde Tower sits perfectly at the center of it all.

And if that’s not enough, it’s also a great area to build a family in. With 24-hour security, swimming pool, and playground for the kids, it’s a safe and secure place for your family to enjoy this urban lifestyle together. The list of accessible amenities also include a hospital, a university, and an airport. Which means anything you or your family needs is always within reach.

Much like the economic capital of London, Hyde Tower is also a top choice for people looking to invest in property on a rapidly appreciating location. As a strategic hub that connects many industrial buildings, facilities, and entertainment areas with each other, there’s little doubt that this property will only increase in value within the near future.

At an affordable price that starts from only RM360,000, Hyde Tower is an unbeatable choice for those looking to experience a lifestyle of distinguished elegance without ever leaving the country. Find out more about the property
right here on RinggitPlus
. Don’t miss out!

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TM Sends Emails Of Unifi and Broadband Upgrade Eligibility

TM has begun sending out emails to notify its Unifi and Streamyx customers about their eligibility for the
internet speed upgrade
 that the company announced recently. The generic email serves mainly to inform eager customers that their upgrades are on their way.

Initially, TM set up a dedicated webpage for customers to enter their account details to check for eligibility for the massive speed upgrades, which depending on the customer’s current plan, may go up by up to 10 times. However, within the first two days after the webpage was opened, the overwhelming response rendered the page inaccessible, forcing TM to take the page down completely. Those who try to visit the webpage will now be redirected to TM’s official webpage instead.

Eligible customers will receive an email that consists of a message of their eligibility for an internet speed boost of up to 10 times, which will begin from 15 August in phases. Those who have not received the email need not worry, as TM has repeatedly confirmed that the speed upgrades will be offered to all existing Unifi customers first, before being rolled out to new customers. With over 800,000 households with Unifi, the emails may take longer to process on the servers.

(Source:
Lowyat.net
 and
The Star
)

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Ultimate Pizza Delivery Guide for Every Malaysian Food Lover

Imagine this: it’s nearly lunch time and you’re still eye-ball deep in your work load. But, you’re not alone. You’re surrounded by other colleagues who are equally as ravenous as you, yet are either too lazy to walk down to the nearest
mamak
 or
gerai nasi campur
, or genuinely can’t afford to spend any precious minute to get lunch for themselves.

After a (too long) brainstorm, you finally decide to split on the simplest, fastest, and (sort-of) affordable shareable food with your colleagues; pizza (cue heavenly choir sound effect). Now, how many times has this happened to you?

Even if you’ve never bought pizza to be shared at work (tag that one friend who will never share their food!), let’s be honest, pizza is a cheesylicious, lip-smacking, salty yet oh-so-tasty food that most people regard as almost a staple food. But, with so many pizza delivery options in Malaysia, which one should you go for when the hunger strikes?

We’ve compiled a list of the most popular pizza delivery services in Klang Valley to help you decide on the best cheesy-goodness pizza that suits your taste buds and budget!

#The Budget-Friendly Pizzas

Domino’s Pizza

Photo courtesy of Domino's Pizza Malaysia

Also known as the King of Coupons, there’s high chances that you may have ordered from Domino’s at least once thanks to their creative advertisements online or the fact that you will get a stack of vouchers with every pizza purchase.

Price Range:
 A 9-inch regular pizza starts from RM27.80

Delivery Time:
 30 minutes or more

Delivery Fee:
 Minimum order of RM20 required for delivery

Halal Status:
 Halal

Payment Term:
    Cash on Delivery/Online Payment

Website: https:
 //
www.dominos.com.my/

Pizza Hut

As one of the first pizzerias to open in Malaysia, Pizza Hut evokes a tinge of nostalgia among most Malaysians especially with the ever popular 755-25-25 jingle. You may have been introduced to cheese powder and salad bars through a past visit to Pizza Hut.

Price Range:
 A regular classic pizza starts from RM27.90

Delivery Time:
 30 minutes or more

Delivery Fee:
 Minimum order of RM20 applies for delivery

Halal Status:
 Halal

Payment Term:
 Cash on Delivery/Online Payment

Website:

https://www.pizzahut.com.my/

Canadian Pizza

 Photo courtesy of Canadian Pizza Malaysia

As pioneers of ‘Buy 2 Free 1’ deals in the Malaysian food-scape, Canadian Pizza entry to the pizza market in 2004 is a warm welcome to bargain hunters (that’s you!) who are on the lookout for affordable value for money meals minus the fuss of using codes or coupons.

Price Range:
 A regular 10-inch pizza starts from RM39.90

Delivery Time:
 30 minutes or more

Delivery Fee:
 RM4 flat fee

Halal Status:
 Halal

Payment Term:
    Cash on Delivery

Website:

http://canadianpizza.com.my/

#The Not-Your-Average Pizzas

Puzzini Swedish Pizza

Think Sweden is all about meatballs? Puzzini Swedish Pizza will definitely make you change your mind towards the Swedish cuisine. Their pizzas are still the talk to the town even after being in the pizzeria business for the last 13 years.

Price Range:
 A 10-inch regular pizza starts from RM18.00

Delivery Time:
 45 minutes or more

Delivery Fee:
 Varies depending on the order amount

Halal Status:
 Halal

Payment Term:
    Cash on Delivery

Website:

https://www.pizzapuzzini.com/

Pizza Express

 Photo courtesy of Pizza Express Malaysia

Relatively new to the pizza trade, Pizza Express aims to deliver hand-crafted, innovatively-flavoured pizza to the residents of Klang Valley. Operating from 5PM to 3AM daily, Pizza Express’s biggest fans include nightlife lovers and ravenous students seeking to sate their pizza cravings during those late night hours.

Price Range:
 A regular classic pizza starts from RM18.00

Delivery Time:
 45 minutes or more

Delivery Fee:
 Free Delivery with minimum order of RM9.90

Halal Status:
 Halal

Payment Term:
    Cash on Delivery

Website:

https://pizzaexpress.com.my/

Read also:

 The Frugal Foodie Guide to Getting More For Less

Ben’s General Food Store

As part of the BIG group, rest assured that the pizzas produced from Ben will always remain big on both taste and portion. Eat with care if you’re ordering from Ben’s as their pizzas are heavily heaped with toppings – giving you more bang for your bucks.

Price Range:
 A regular pizza starts from RM23.00

Delivery Time:
 35 minutes or more

Delivery Fee:
 RM5 via Honestbee

Halal Status:
 Pork-Free

Payment Term:
    Online Payment Only

Website:

http://thebiggroup.co/bens-general-food-store/

#The Premiums

Mikey’s Pizza

Purveying the authentic taste of New York, the name Mikey’s Pizza is almost a household brand for Malaysians who are into quality and flavorful American-style pizza. Using nothing but the freshest ingredients for their pizza craft, Mikey’s Pizza is for those who are looking to have a little indulgence in life.

Price Range:
 An 18-inch pizza ‘pie’ starts from RM69.88

Delivery Time:
 Varies depending on location

Delivery Fee:
 Free delivery for orders above RM50

Halal Status:
 Pork-free (Alcohol is served)

Payment Term:
    Cash on Delivery

*Website:

http://mikeyspizza.com.my/

Pezzo Pizza

 Photo courtesy of Pezzo Pizza Malaysia

Originating from the sunny Singapore, Pezzo Pizza promises a carnival in every bite. With an innovative menu that marries both Western and Asian influences, Pezzo Pizza’s offerings are popular among both locals and hungry tourists alike.

Price Range:
 A 14-inch full pan costs RM42.90

Delivery Time:
 35 minutes or more

Delivery Fee:
 RM5 via FoodPanda

Halal Status:
 Halal

Payment Term:
    Cash on Delivery/Online Payment

Website:

http://pezzo.com.my/

La Risata

Touted to be one of the top Italian restaurants in the city, La Risata proves that it is indeed possible for a restaurant to specialise in not only pasta, but decadent pizza as well. Expect rustic, scrumptious Italian food at a slightly above average prices.

Price Range:
 A regular pizza rosso starts from RM23.00

Delivery Time:
 60 minutes or more

Delivery Fee:
 RM5 via FoodPanda

Halal Status:
 Pork-Free

Payment Term:
    Cash on Delivery/Online Payment

Website:

http://la-risata.com/

Santinos Pizza

Craving for home-baked Italian pizza? Look no further as Santino’s Pizza offers a large selection of pizzas and sides, making it a clear favourite among pizza lovers who swear by their airy, crunchy-crust pizzas.

Price Range:
 All 10-inch regular pizza costs RM34.90

Delivery Time:
 45 minutes or more

Delivery Fee:
 RM5 via FoodPanda

Halal Status:
 Halal

Payment Term:
    Cash on Delivery/Online Payment

Website:

http://santinospizza.com.my/

#Any Other Tips I Should Know?

Although it is undeniable cash is always king, know that having a credit card will come in handy especially when it comes to reaping the reward point and cash back benefits. Besides, some credit card providers even offer discounts when you purchase (or dine-in) from selected restaurants. More opportunities to save money always sound good to us.

For more tips on how to obtain credit card reward points, check out our article on
 How Your Friends Can Help You Get Credit Card Reward Points
 ! Don’t have a rewards credit card yet? Our
 comparison page
 is ready for you to compare and choose the best rewards credit card that suits your spending style!

Do you have any other pizza places or delivery service to recommend? What other food delivery service would you like us to write about? Hit us up in the comment section below!

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GrabPay DuitNow QR Starts Rolling Out In Stores, Official Launch Coming Soon?

GrabPay’s DuitNow QR implementation appears to have gone live, as several retail outlets in the Klang Valley have begun displaying the pink DuitNow QR code that allows interoperable use with other e-wallets.

Despite being the
first e-wallet to officially announce support for DuitNow QR
, Malaysia’s unified QR standard, GrabPay is actually the last of the three major e-wallets in Malaysia to officially roll out its DuitNow QR code, with
Touch ‘n Go eWallet
,
ShopeePay
, and more recently,
Boost
 already rolling them out.

We first noticed some outlets that accept GrabPay replacing its usual green-coloured QR to the new pink DuitNow QR yesterday, but we found social media posts on this over the weekend as well. With this QR code, anyone using GrabPay, TNG eWallet, ShopeePay, Boost, MAE, and other online banking apps that support DuitNow QR (there’s
a full list available here
) can scan it and make a payment. Conversely, a GrabPay user can also scan a non-GrabPay DuitNow QR code to make payment – meaning a store or merchant does not need to sign up with all e-wallet apps to accept payment from that particular e-wallet.

(Image: SoyaCincau)

However, there is a catch. If a customer scans a non-GrabPay DuitNow QR and makes a payment, that transaction will not earn any GrabRewards Points. A GrabPay user will only earn points if they scan the GrabPay DuitNow QR code (which may explain why there’s a message to “scan me to earn GrabRewards Points” above the QR code). We’ve seen this pattern before – previously, a TNG eWallet user who scans a non-TNG eWallet DuitNow QR code will not see that transaction eligible for its rewards stamp.

With the rollout to its merchants, we expect GrabPay to make its official announcement soon –
DuitNow’s official website
 has also been updated to include GrabPay.

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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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Maybank Re-Enables Online Application For Share Trading (Cash Account) Via Maybank2u

Maybank has re-enabled the online application service for Share Trading (Cash Account) via its Maybank2u website, after having temporarily disabled it since
18 August 2022
 for system enhancement.

Following this update, existing Maybank customers who have registered for a Maybank2u account may once again proceed to apply for Share Trading (Cash Account) fully online via the
bank’s website
, following these steps:

Log in to your account
Tap on the menu button at the top left of the page, and click on ‘Apply’
Tap on ‘Investment’, followed by ‘Share Trading (Cash Account)’, and ‘Apply Now’
Click on ‘Let’s Start’, and fill out the application form
Submit the form and pay RM10 to open a Central Depository System (CDS) account
Upload your salary statement to activate your account

Ultimately, all Maybank customers who apply for Share Trading (Cash Account) will end up with four accounts to facilitate their trading, namely:

Account
Purpose
Maybank2u Cash Trade Account
For trade settlement
Maybank Share Trading Account
For trade execution on the local exchange
Nominees CDS Account (by Bursa Malaysia)
– Mandatory account that must be opened by every investor who wishes to trade on Bursa Malaysia
– Represents ownership and is used to carry out transactions on Bursa Malaysia
Maybank current/savings account
– For new Maybank customers
– To facilitate fund withdrawal from your Maybank2u Cash Trade Account

Maybank will notify you once your accounts are successfully opened, either through email, SMS, or push notification on your mobile banking app.

As for new Maybank customers, you, too, can apply for a Share Trading (Cash Account) online via the Maybank2u website. However, you will be required to take an extra step of visiting a Maybank branch within 14 days of your application to complete the account opening process.

For any enquiries regarding Maybank’s Share Trading (Cash Account), you may call Maybank IB Equities Helpdesk at 1300 22 3888, or email them at
[email protected]
.

(Source: Maybank [
1
,
2
])

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Unlock Exciting Rewards Like JBL Bar 1300, RM5000 Cash via DuitNow, & Guaranteed RM800 TNG Credit

As we navigate through the final week of July 2023, a treasure trove of enticing rewards is up for grabs! Contemplating getting a new credit card? Try browsing through the latest ‘Unbox This Week’ and immerse yourself in the delightful perks of our attractive sign-up gifts. An array of thrilling rewards is just an application away!

For those who are new to this campaign, Unbox This Week is a weekly event where we present to you fantastic weekly flash deals from our featured bank partners. All you need to do is apply for selected credit cards from these banks of the week through RinggitPlus and you’ll take home some great prizes.

From 24 July to 31 July, our featured bank partners are

none other than
Standard Chartered, HSBC Bank, UOB, RHB, Alliance Bank, and Public Bank
. So, if you’ve considered applying for a credit card with any of these banks, you know what to do to get more out of your application!

Standard Chartered – RM800 TNG eWallet Credit

Savour the comfort of a guaranteed RM800 TNG eWallet Credit when you apply for a Standard Chartered Credit Card. Let’s ease off your month-end expenses, from utility bills to grocery expenses to paying your tolls. Moreover, you can also buy a delightful gift for your loved ones or spend it on your favourite meals with this guaranteed reward.

Just remember, you will need to activate your card within 30 days upon approval to be eligible for this gift. Lastly, be aware that existing cardholders and individuals who have held a Standard Chartered credit card in the past six months are not eligible for this campaign. If you qualify, then you can apply for your new Standard Chartered credit card
here
.

HSBC Bank – JBL Bar 1300

Stand a chance to grab home a JBL Bar 1300 worth RM7999 when you apply for an HSBC Credit Card!

Imagine enjoying a movie night at home with a cinema-like audio quality right in your living room. That’s what you’ll get to experience if you take home the JBL Bar 1300 to enhance your home entertainment system, making every sound more rich and immersive from your restful home.

Don’t worry if you didn’t win the latest JBL soundbar because every successful applicant will also be guaranteed an RM500 Touch n’ Go eWallet Credit.

Don’t forget to activate and spend a minimum of RM1,000 on your new card within 60 days upon gaining approval to be eligible for this gift. That said, do note that current cardholders and applicants who were denied within six months prior to this campaign, as well as those who have cancelled their HSBC credit cards within six months prior to this campaign are not eligible for our campaign. Otherwise, you can apply for your HSBC credit card
here
.

UOB – SONOS RAY Soundbar

Stand a chance to claim the SONOS RAY Soundbar with your UOB Credit Card application.

Immerse yourself in the superior sound quality of the SONOS RAY Soundbar, bringing you an unparalleled audio listening experience right from your living room. Transform your home entertainment setup to a whole new level and experience a clear vibrancy for both your favourite movies and music like never before!

Rest assured that you’ll still be guaranteed RM300 TNG eWallet Credit if the SONOS RAY Soundbar doesn’t fall into your hands.

To redeem your gift, apply for your card via the RinggitPlus website, get approved by UOB, and activate your card. Apply for your UOB credit card
here
.

RHB – RM5000 Cash via DuitNow

Apply for an RHB Credit Card and score your chance to win a substantial RM5000 Cash via DuitNow!

Imagine the financial boost that an extra RM5000 can bring to your life at the end of the month. It could serve as a robust push to your investment portfolio, a small step towards paying off your mortgage or vehicle loans, or a well-deserved vacation for you and your family.

Even if the grand cash prize doesn’t land in your pocket, you’ll still be guaranteed an RM500 TNG eWallet Credit as a successful applicant.

Once approved, you just have to activate and spend to meet the requirements of the campaign and be eligible to get the gift. Existing cardholders of any RHB Bank credit card and individuals who have held or cancelled an RHB Bank credit card in the past six months are not eligible for this campaign. Apply for an RHB Bank Credit Card
here
.

Alliance Bank – Xiaomi Mijia Water Dispenser C1 or Xiaomi 70mai Smart Dash Cam 1S

Bring home the Xiaomi Mijia Water Dispenser C1 or the Xiaomi 70mai Smart Dash Cam 1S when you apply for a new Alliance Bank Credit Card.

For those who choose to apply for an Alliance Credit Card with Balance Transfer, you’ll welcome the Xiaomi Mijia Water Dispenser C1 into your home. Think about the ease of having a dispenser to dispense both hot, cold, and room-temperature water at a push of a button. You could conveniently brew your comfort coffee, whip up instant noodles, or enjoy a refreshing cup of water whenever you like in the comfort of your home.

Meanwhile, applicants choosing to apply for an Alliance Credit Card without Balance Transfer are set to receive the reliable Xiaomi 70mai Smart Dash Cam 1S. This advanced dash cam will document all your road journeys in high resolution, making it a reliable companion on the road to provide you peace of mind and support you whenever required.

Upon approval, you just have to activate and spend to meet the requirements of the campaign and be eligible to get the gift. Existing cardholders of any Alliance Bank credit card and individuals who have held or cancelled an Alliance Bank credit card in the past six months are not eligible for this campaign. Apply for an Alliance Bank Credit Card
here
.

Public Bank – Xiaomi 70mai Smart Dash Cam 1S 1080p

Secure a guaranteed Xiaomi 70mai Smart Dash Cam 1S 1080p when you apply for a Public Bank Credit Card!

The Xiaomi 70mai 1S Dash Cam 1080p offers practical functionality, acting as your dependable travel companion that captures your road journeys in 1080p high-definition. All the documented road travels are served to enhance your driving experience with an added layer of security, reducing potential disputes by providing reliable footage.

All you need to do is complete your application via the RinggitPlus website, get approved by Public Bank, and make an accumulative spend of RM250 within sixty (60) days of approval to be guaranteed this gift. Apply for your Public Bank credit card
here
.

***

Finally, be sure to start your application with our WhatsApp chatbot so that your eligibility is guaranteed, and we can always be at hand to help you when you need us.

While this week’s flash deal ends on 31 July 2023 (11am), do follow us on our
Facebook page
 to receive the latest Unbox This Week offers as we refresh the deals every week.

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Jasen Lee

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BNM: 40 Parties Interested In Applying For Digital Banking Licence

As many as 40 parties have registered their interest in applying for a digital banking licence, Bank Negara Malaysia (BNM) governor Datuk Nor Shamsiah Mohd Yunus revealed.

“We expect to announce the granting of the licences in the first quarter of next year and there will be five licences issued to qualified applicants,” she said. Since BNM first announced its intention to issue up to
five digital banking licences
 at the end of 2019, numerous companies have publicly expressed their intention to try for a licence, including
AirAsia, Grab, Razer
,
Sunway
,
BigPay
, and the state governments of
Johor
 and
Sarawak
. The deadline to submit applications for the digital banking licence is 30 June 2021.

(Image: The Edge Markets)

Earlier last month, BNM published its
policy document on the licencing framework for digital banks
 alongside the opening of applications for the licences. “In our policy paper, we mentioned digital banks are expected to introduce innovative applications of technology that can contribute to the financial well-being of Malaysians in particular to address the unmet needs of the underserved and unserved customer segments,” said Nor Shamsiah.

The BNM governor added that the growing momentum for digitalisation will further support economic activities, with more individuals and businesses now embracing digital solutions. The number of merchants that had signed up for e-commerce and QR code payments has more than doubled since the previous year.

Nor Shamsiah also stated that BNM and other relevant agencies will continue to intensify efforts to catalyse national digital transformation, accelerating the role of key system enablers, digitalising existing industries, and developing new digital industries as future growth drivers of the economy.

(Source:
The Edge Markets
)

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Application Deadline For URUS Extended To 31 March 2022

The application deadline for the Financial Management and Resilience Programme (URUS) has been extended from 31 January 2022 to 31 March 2022. With this, eligible B50 customers who are in need of further financial assistance will have more time to apply for URUS via their banks.

Meanwhile, those who enrolled for banks’ recent flood relief assistance programmes will also see the URUS application closing date extended until 31 July 2022 for them, or upon the expiry of the flood relief assistance programme – whichever is earlier. These flood relief programmes is in reference to those that were
offered to customers who were affected by the flooding back in December 2021
.

URUS – which was
launched back in November 2021
 – is a
collaborative effort between the banking sector and the Credit Counselling and Debt Management Agency (AKPK)
. It seeks to assist Malaysians who continue to struggle with cash flow difficulties due to Covid-19, even with previous financial aids that have been provided by the government.

(Image: The Malaysian Reserve)

Specifically, B50 customers with a gross monthly household income of RM5,880 or less, who experienced a loss of employment or a reduction in income of at least 50% are eligible to apply for URUS. If approved, they will be presented with customised financial plans that consist of several repayment assistances, including interest/profit waiver for three months, deferred payments, and reduced instalments.

If you would like to apply for URUS, you can do so online via your bank’s website, through telephone banking channels, or by visiting your nearest bank branch. Note that customers who have accounts with multiple banks will only need to apply with one of any banks. You also should not engage with any third parties claiming to be representatives of banks to make your URUS application as no third parties have been appointed for this purpose.

Meanwhile, customers who are still in need of financial assistance but do not qualify for URUS are encouraged to speak to their banks. They may negotiate for other tailored repayment arrangements to help them with their financial circumstances.

(Source:
The Edge Markets
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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4 People Who Should Not Apply For a Balance Transfer

Balance Transfers (BT) have long been hailed as the ultimate answer to the problem of credit card debt, but they may not work for everybody. As with any banking product, BTs are also subject to their own terms, conditions and repercussions.

Are you trying to ease your credit card debt woes? You might want to consider something other than a balance transfer if you are anything like one of these four people.

The One with the Low Credit Limit

If your empty card or new credit card has too low a credit limit watch out: You may not be able to benefit from a balance transfer!

The idea of a balance transfer is to transfer all your credit card balances onto one card or just from one card to another. The requirement however, is that the card ‘receiving’ the balance will need to be able to accommodate the amount in it’s available credit limit.

For example, if you have a balance of RM3,500 on credit card A and want to transfer it credit card B: credit card B needs to have an available credit limit of RM3,500 and above. Even having exactly RM3,500 is cutting it too close and you risk getting your application rejected. This is because fees may be incurred on transferred balances (selected banks).

If your credit card limits are low, make sure the balance you are transferring is low enough to fit too.

The One with the Shopaholic Tendencies

Sandra took a new credit card F to transfer a balance from credit card E. After transferring the amount, her credit card E was empty. What did Sandra do? She started swiping again!

Before she knew it; she had filled up credit card E before paying off the new credit card F. She now has two full credit cards and is applying for a
third
 balance transfer!

Credit card balance transfers are great to help you pay down debts faster. But what it does as well is give shopaholics and ‘debt-addicts’ a new/empty card to refill.

Also, some shopaholics who have available credit on their new cards after transferring their balance, may be tempted to spend with that as well! If you applied for a balance transfer credit card, only the transferred amount is subject to the low BT interest rate offer. Any new spending will incur the full interest rate so it is best to not use that card until you’ve paid everything off.

Unless you are serious about cutting up your extra cards and really getting down to clearing your debt; a balance transfer won’t help you!

The One with Too Many Commitments

Do you already have five credit cards and a personal loan to your name? Take note, if your monthly commitment is too high; your application for the new card you need for the balance transfer won’t be approved.

Balance transfers require an empty credit card with the bank offering the preferential rate and tenure of your choice. If you do not have a card from that bank, you will have to apply for one. Similarly, if you have no empty credit cards (all maxed out!) you will have to apply for a new card.

But your application may not be approved if you have too many financial commitments. Typically, the maximum commitment banks will allow is 60% of your gross salary. Although this is the maximum threshold, the percentage will vary for different banks with some opting to be more conservative.

Also, if you earn less than RM3,000 a month; the
Bank Negara cap on credit cards
 will prevent you from getting another card if you’ve used up your two card/2x-your-salary-credit-limit quota.

The One with No Repayment Discipline

Robert misses his payment deadlines regularly and usually pays as little as he is allowed (the minimum payment). Whilst he initially thought this payment behaviour was “no big deal”; he soon found he had incurred so many late charges on his transferred balance that it was almost the same as paying the full credit card interest rate!

BTs work best when you follow the repayment schedule diligently: paying the amount you should, when you should. This is because many BTs have set monthly amounts that need to be paid or else, the remaining unpaid amount will attract higher interest rates.

Some BTs also require that the whole amount be paid off in the agreed number of months (6 months, 12 months, etc) or you will incur the full, regular credit card interest rate.

If you’re not disciplined about repayment; a BT won’t help you avoid those pesky fees!

But Does That Mean BTs are Bad?

Of course, not! balance transfers are still an excellent way to deal with credit card debt provided you fall within the application requirements and you use it right. It’s the same with any banking product, really. A BT can seriously help you pay down debt faster than when you have to pay huge interest rates along with it but the key is in using it right.

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Maybank Merdeka Campaign Offers Exclusive Prizes, Including Mercedes Benz EQA 250

Maybank is currently running its Maybank Cards 2023 Merdeka campaign, which allows eligible credit cardholders to win a range of prizes, including a Mercedes Benz EQA 250, Aethos Comp bicycle, and Grab vouchers worth RM5,000. Open to both new and existing Maybank cardholders, it is set to continue until 31 October 2023.

To participate in the campaign, cardholders will need to spend a minimum of RM50 in a single transaction to earn qualifying entries. These entries will then put them in the running to win a variety of main and special prizes, namely:

Prizes
Details
Allocation
Main prizes
Grand prize

Mercedes Benz EQA 250
First prize

Specialised Aethos Comp Rival eTAP AXS bicycle
Second prize

Grab vouchers worth RM5,000
2x
6x
10x
Special prizes (to be awarded based on the types of credit card that you are using)
For Maybank/Maybank Islamic Visa credit cardholders

Acson AVO Inverter air conditioner (1.5HP)
For Maybank/Maybank Islamic Mastercard credit cardholders

Khind 2 in 1 washer dryer
For Maybank/Maybank Islamic Amex Charge/credit cardholders

Jaya Grocer vouchers worth RM3,500
10x
10x
10x

Meanwhile, here’s the full list of transactions that you can perform to earn qualifying entries for this campaign, with selected transactions providing you with additional entries:

Transactions
Number of entries earned
Every RM50 in a single transaction
1x
Every RM50 in a single transaction in these spend categories:
– Dining/F&B
– Departmental stores
– Petrol
– Travel & accommodation
– E-commerce transactions
Additional 5x
Every RM500 EzyPay/-i transactions (full transaction amount)
Additional 5x
Approved credit card application (new-to-bank principal cardholders)
Additional 10x
Special
: All expenses paid with the Maybank Mercedes-Benz credit card and any new Maybank credit card product launch within the campaign period
Double up entries

To better clarify what Maybank means by the special entries earning category, let’s say you’ve earned a total of 50 entries by performing a transaction of RM2,500. But because you used the
Maybank Mercedes-Benz credit card
 to pay for the purchase, you’ll get 100 entries instead of the original 50 entries.

Do also note that only retail and online expenses (local and international) are accepted as qualifying spend in this campaign. Transactions such as monthly instalments of EzyPay/-i, balance transfers, and fund transfers do not count. Split and repetitive retail transactions of five times or more with the same merchant in the same day will also be disqualified.

(Image: The Star)

Once you’ve earned your entries, Maybank will select and announce the winners for all the main and special prizes using a randomiser programme within 14 weeks from the end of the campaign period. The winners will be announced on Maybank’s website and/or social media, and the prizes will also be awarded to them within the 14 weeks. Do also be aware that each cardholder can only win one prize from this campaign, regardless of whether it is a main or special prize.

Finally, if you’d like to join this campaign, you’ll need to register your participation by sending an SMS (MERDEKA) to 66628 – after which you’ll receive a confirmation SMS from the bank. Those with multiple Maybank credit cards are only required to register once; their expenses on other cards will also be tracked automatically after your successful registration.

(Source:
Maybank
)

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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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Go nuts on noodles at Kyo-ei Ramen with Citibank

Citibank credit card holders with a yen for Japanese noodle dishes take note: You’re privileged to a
great promotion from your bank at Kyo-ei Ramen, Pavilion KL.

You’ll enjoy a buy one free one deal on Kaarage every Thursday, as well as 20% off the a la carte menu on all other days.

Offer is valid until 31 December.

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The UOB Visa Infinite Metal Credit Card Is An Invitation-Only Credit Card Made From Bronze

(Image: Malaysia Tatler)

United Overseas Bank Malaysia (UOB) has recently launched the new UOB Visa Infinite Metal Card. Made from bronze, this exclusive credit card is designed for affluent Malaysians and is only issued on an invitation-only basis.

The UOB Visa Infinite Metal credit card is moulded from bronze metal, distinguishing itself uniquely from the plastic credit cards everyone else uses. The metal card isn’t just for aesthetics: it is also more durable for long-term use and is exceptionally resistant to wear and tear, according to. Ronnie Lim, the Managing Director and Country Head of Personal Finance Services of UOB Malaysia.

As a premium credit card, the UOB Visa Infinite Metal offers premium travel and lifestyle benefits to meet the luxurious needs and expectations of affluent customers who travel frequently for work or leisure. Cardholders get unlimited (!) access to airport lounges worldwide and complimentary limousine rides to KLIA and KLIA2, a “best in class” air miles redemption rate (4,500 UNIRinggit for 1,000 air miles) with selected airlines, rewards points for overseas spend, and a 24-hour worldwide concierge service offering services like restaurant reservations and arrangements for flights and hotels.

On top of that, the UOB Visa Infinite Metal credit card also offers complimentary travel insurance coverage of up to RM1,000,000. Cardholders will also enjoy access to prestigious members-only clubs and golf clubs across the region.

(Image: Malaysia Tatler)

According to UOB Malaysia’s collective data, more and more affluent cardholders are spending on travel-related expenditures with an increase of 35% since 2016. Last year, about RM205mil was spent on travel-related products and services with a 23% increase from 2017. Hence, the bank saw an opportunity to design a premium credit card to specifically cater to this growing group’s needs.

The UOB Visa Infinite Metal Card is available by invitation only to customers who have a minimum annual income of RM300,000 and investable assets of above RM3 million with UOB Malaysia. Those interested to know more about the UOB Visa Infinite Metal Card can visit the nearest UOB Privilege Banking Centre.

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RHB Mastercard Indulge and Win

Your RHB Credit Card Could Win You A Shopping Spree Worth One Million Ringgit

RHB credit cards have a
great offer in conjunction with Malaysia Airports and MasterCard
. Just spend over RM250 at the airport and you could be in to win one of seven RM10,000 monthly prizes or a grand prize Shopping Spree worth RM1,000,000.

Fill in a submission form at the airport
, the offer is open at KLIA, LCCT-KLIA, Langkawi, Kota Kinabalu and Kuching.

Another great free to enter competition, all you need to do is spend on your credit card.

As always,
Terms and Conditions Apply
.

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Touch 'n Go RFID Tags Will Cost RM35 From 15 February 2020

Touch ‘n Go has announced that its RFID tags – which has been issued for free since late 2018 as part of a trial process – will soon come with a hefty price tag. Starting 15 February 2020, all new TNG RFID tags will cost RM35.

Designed as part of a huge digitalisation exercise from Touch ‘n Go Snd Bhd, which also includes the launch of the TNG eWallet,
Touch ‘n Go RFID
 is a
useful new tool
 to ease the toll payment process on Malaysian highways. Its use of radio frequency waves is largely seen as a better alternative to Touch ‘n Go’s old Smart Tag’s infrared ray.

In the last year Touch ‘n Go has been actively expanding its RFID fitment centres around the country, offering free installation and only requiring the driver’s IC and driving license for verification. These fitment centres are located at easily accessible spots, from petrol stations to mall car parks.

Now, with 1 million RFID tags fitted, the company is moving towards a full launch of TNG RFID. Starting 15 February 2020, new TNG RFID tag fitments will cost RM35 – that means you have just over a week left to get one fitted for free (if you haven’t done so yet).

As part of the next phase of TNG RFID, the company also announced that all PLUS highways will be enabled with RFID lanes from 1 April 2020, expanding the
current supported ones
. In addition, Touch ‘n Go Sdn Bhd CEO Syahrunizam Samsudin also stated that TNG RFID will expand its usability to cover other areas later this year.

“We have invested 1 million TNG RFID Tags for Malaysians to experience this technology during our public pilot programme these past 18 months. Now it is time for us to move forward and continue to expand the use of RFID technology together with our partners across the mobility ecosystem. This includes fuelling, parking, retail drive-throughs,” he said.

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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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    sawarn singh

    3 years ago

AT MANY TOL BOOTHS DOESNT WORK AT ALL.MANY CARS REVERSE BACK AND CREATES A MASSIVE JAM AS TO USE THE MANUAL OR TAG.WHY BRING PRODUCTS TO THE COUNTRY WHICH ARE USELESS.LOOK AT SINGAPORE HOW EFFICIENT AND BEST SYSTEM THEY HAVE.

GO DOWN AND SIT AT RFID COUNTER AND WATCH FOR YOURSELF BEFORE EVEN IMPLEMENTING AND START CHARGING MR35.

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    Ng

    2 years ago

the tag can be transferred to a new car?

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The Pros & Cons of Entering a Franchise Business

For the uninitiated, franchising refers to a business model where the “franchisors” entrust the strategies, trademarks and workplans of their businesses to “franchisees” in exchange for royalty fees and a percentage of gross monthly / annual sales revenue.

According to
Export.gov
, there were 214 master franchisees of foreign brands, 61 Malaysian franchisors and 557 franchisees in Malaysia as of December 2016. From fast food chains to home improvement DIY stores, franchising is viewed as an established, returns-guaranteed business model especially among Malaysian consumers, who are
globally most likely to try new product offerings and be an early purchaser of new product innovations
.

Paired with a robust, thriving brand-conscious consumer market, it is indeed tempting to step into the world of business ownership and begin your journey as a franchisee but do note that like all business models out there, there will be pros and cons of entering a franchise business. If you are still in two minds as to whether a franchise business is something that you should look at, here are the advantages that you will stand to gain should you decide to undertake the path of a franchisee.

Pros

Reputable Brand Name

As a franchisee, the task of capturing your target audience’s attention to take notice of your products and services would be the least of your concerns. Investing in a franchise business means that you are also paying for the established reputation and image of the brand, in addition to access to national advertising and support from your master franchise holder.

Easier to Procure Funding

If you are a newcomer with little to no experience in business ownership, you may discover that it may be difficult to convince your financial institutions to approve your loan application. By opting for a franchise business, the odds of securing a loan to fund your business is higher as traditionally, banks are more likely to finance businesses that are already proven to succeed.

Inventory Discount

When you enter a business as a franchisee, you can take advantage of inventory discounts thanks to the economies of scale, especially if you are purchasing by bulk. With a list of trusted suppliers in hand providing you the stock you need, you will not only save money but also time and effort as well.

However, entering a franchise business is not without its setbacks so here are a list of things that you will need to consider.

Cons

High Start-up Costs

Don’t be surprised but fees and invoices for royalty payments are something that you will be encountering on a constant basis as you are after all, paying for an already-established business that has been tried and tested.

Subjected to rules and regulations of the franchise system

If a franchisee owns a franchise like McDonald’s, he or she is only permitted to sell food and beverage that is related to the fast food trade. In the situation that the franchisee wishes to add
shisha
 services to the business for example, if it’s not in the franchise agreement, then it’s not going to be permitted.

*
Reputation management*

Believe it or not, your local reputation is only as good as your franchisor’s. If the franchise brand is facing a PR crisis, you too will most likely suffer as well. Case in point: Local brand TeaLive is accused of
using a tagline that created by an interview candidate
 without proper compensation. Things got so bad that the CEO of Tealive had to step in to issue an apology, which is by then, too little too late. As a result, Tealive franchisees are affected by negative publicity with some netizens choosing to boycott the brand in favour of other bubble tea brands in the market.

Our Final Tip…

We hope that you have found this article useful in helping you understand what to expect from a franchise business and whether it is in line with your personal business goals. Ready to make that leap of faith and embark into the world of franchise business opportunities? If your answer is yes, then here’s a bonus tip to help you get started on your new venture.

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

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

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I See Debt People

Using your sixth sense to manage your credit card bills

Credit Counselling and Debt Management Agency, better known as AKPK, has been very busy these days. Since it was first set up in 2006, AKPK has assisted 81,596 Malaysians by restructuring their loans and acting as a “middle person” between the borrower and the banks.

Thanks to AKPK’s good work,
2,460 people have managed to settle RM80.9 million bank debts
 via its credit management programme.

An RM80 million debt is not a small number, it is almost triple the number of current Malaysia population. If we were to divide the debts to all 2,460 now-debt-free people, that would be more than RM32, 000 debt for each person!

How did these people manage to accumulate such a high amount of debt? Looking through the success stories published on AKPK website, it’s the same story repeated over and over again; high dependency on credit cards and unpaid loans (home or personal loans, and hire purchase).

One of the most common mistakes people make when using a Credit Card is to treat it like free money. What starts off with small purchases mounts up to huge debt; and in the end you only manage to pay the minimum amount.

When you’re considering a Credit Card application ask yourself, did you read the fine print carefully? Do you know how much you’re being charged for paying only the minimum amount? These are the things you should have done before you sign the form.

Some people even make it a habit to apply for loans for just about everything. Applying for personal loan to get married – is that really necessary? Buying an expensive car – is it more economical in the long run than a much cheaper option? Or are you buying it just to show off?

Managing your finances is no easy task, but it is also not impossible. You should always weigh your options carefully – your choices now will affect your future, you wouldn’t want to live with regrets (and debts) for the rest of your life.

Image: GlobalGood Group

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Associations: Russia-Ukraine Conflict May Cause Price Hikes In Malaysia

(Image: The Star)

Several traders and breeders’ association have cautioned that certain goods in Malaysia may see a significant increase in price due to the ongoing Russia-Ukraine conflict, particularly if the government does not take steps to intervene.

According to a number of associations, the conflict will result in the price hike of certain goods, including oil, as well as commodities such as corn, soybean, and palm oil. This, in turn, may start a domino effect that leads to a price increase in other items and necessities.

Specifically, advisor of the Federation of Livestock Farmers’ Associations of Malaysia (FLFAM), Datuk Jeffrey Ng said that the price of chicken is forecasted to surge further in the next month. This is because the main ingredients to produce chicken feed – namely corn, soybean, and palm oil – have soared since the conflict began.

(Image: The Star/Lim Beng Tatt)

“Ukraine is a producer of wheat and corn, and controls about 70% of the world market. The war has caused a spike in corn prices. Concurrently, the prices of soybean and palm oil have also increased, with the price of crude palm oil yesterday rising to a record high of more than RM6,800 per metric tonne. These are all main ingredients for chicken feed, and the factories have informed that there will be an increase in the price of chicken feed next month,” said Datuk Jeffrey, adding that the rate is still unknown as it depends on the period of conflict between Russia and Ukraine.

Meanwhile, the president of the Malaysian Federation of Hawkers and Petty Traders Association, Datuk Seri Rosli Sulaiman said he also expects there to be an increase in the prices of non-controlled goods due to increase in oil prices.

“The increase in oil prices would affect the logistics costs, certain raw materials and operating costs. Factories and wholesalers may have to increase their selling prices, and the same goes with traders. Therefore, I hope that the government will maintain the oil subsidy to ensure no significant impact on the prices of goods,” Datuk Rosli further shared.

(Image: Pixabay)

Similarly, the chairman of Selayang Wholesale Market Hawkers and Petty Traders Association, Mohammad Pandu Insani Yahya agrees that the prices of goods – such as chicken – will be impacted. “The same goes for the prices of imported goods, should the source countries also be affected by the conflict,” he said.

The tension between Russia and Ukraine officially erupted into war Thursday last week, which not only shocked the world, but also
sent global markets reeling
. At the heels of that, the Domestic Trade and Consumer Affairs (KPDNHEP) Minister, Datuk Seri Alexander Nanta Linggi had cautioned traders to avoid using the conflict as an excuse to raise the prices of their goods or services indiscriminately. He further commented that although conflicts and wars could cause price hikes in goods and services, it may not necessarily affect all corners of the world.

(Source:
New Straits Times
)

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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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CTOS Partners With PolicyStreet To Launch Car Insurance And Road Tax Renewal Platform

CTOS Digital, through its subsidiary CTOS IDS, has partnered with local insurtech firm PolicyStreet to launch a new online platform for car insurance and road tax renewal, dubbed CTOS Car Insurance.

According to the company, the new platform will enable customers to find the best deals in the market by allowing them to quickly compare the prices of policies from more than ten insurers. These include Tune Insurance Malaysia, AXA Affin General Insurance, Etiqa General Takaful, and Allianz General Insurance – just to name a few.

CTOS Digital also said that consumers may be able to find savings of up to RM1,000 from the deals that are currently available. This is on top of other benefits, including further discounts on car insurance quotes – provided based on the value of premiums selected – as well as free MyCTOS Score Reports for customers who successfully purchase or renew their insurance via the platform. Both of these additional benefits are provided under an ongoing campaign to mark this alliance.

Customers who wish to purchase or renew their insurance and road tax on the CTOS Car Insurance platform can do so digitally by visiting the website and submitting the necessary details (including personal details and car information). From there, they’ll be able to compare and choose from a list of available policies, select any necessary add-ons, as well as make payments via credit and debit card or FPX.

Upon successful purchase or renewal, the e-policy will be sent to them via email within one business day. Meanwhile, the road tax can be delivered nationwide through MYEG within five working days (with a delivery charge of RM15).

“CTOS Car Insurance reflects how we are focusing our partnership efforts to offer consumers end-end digital solutions in increasingly varied industries. Also, in time, we hope to be able to offer even more value by taking into account credit scores to present consumers better prices, in line with the motor insurance de-tariffication process started by Bank Negara in 2016,” said the group chief executive officer of CTOS Digital, Eric Hamburger.

Eric Hamburger
(Image: The Star)

The co-founder of PolicyStreet, Wilson Beh also shared a similar sentiment. “The strategic partnership between CTOS and an insurance technology company is the first of its kind in Malaysia. We are proud to have partnered with CTOS and believe the collaboration will pave way to more innovative, customised, and inclusive insurance protection, leveraging on credit scores and big data for all Malaysians,” he said.

(Sources:
CTOS
,
The Star
,
FintechNews Malaysia
)

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Samsung Revamps Galaxy A Series, Now Offer Greater Value For Money

Just last month, Samsung quietly revamped its Galaxy A mid-range series of smartphones, and now they’re available in Malaysia. The new Galaxy A30 and Galaxy A50 are priced considerably lower than previous models, and yet offer plenty of features you wouldn’t expect on previous Samsung smartphones at this price range.

The revamped Galaxy A series continues to aim young, digital-savvy youths who demand a lot out of their devices, and not pay unreasonable prices for them. Chinese smartphone makers have been very successful at attracting this group, and now Samsung finally has a strong response.

The Galaxy A50 and Galaxy A30 pack high-quality 6.4-inch displays, large 4,000mAh batteries with fast charging, USB Type-C ports, up to triple rear cameras, and run on the latest Android Pie OS with Samsung’s One UI out of the box.

On top of that, both the Galaxy A50 and Galaxy A30 also have Super AMOLED displays, Samsung’s premium display technology that’s usually never available at devise at this price point. Compared to standard TFT-LCD displays, Super AMOLED displays have better colour saturation, deeper blacks, wider viewing angles, and better power consumption.

The higher-end model of the two is the Galaxy A50. Powered by the octa-core Exynos 9610, the most powerful mid-range processor currently made by Samsung, the South Korean company also made the decision to bring in the higher-specced model to Malaysia which packs 6GB of RAM and 128GB of expandable storage.

The Galaxy A50’s cameras are designed to offer plenty of versatility. The selfie camera is a large 25MP sensor hidden on the “Infinity-U” notch on the screen, while the rear camera setup is more interesting. It’s a triple-sensor setup featuring a main 25MP sensor, an 8MP ultra-wide angle sensor, and a 5MP depth sensor that allows for Live Focus mode for shallow depth of field photos.

Interestingly, Samsung is including an under-display fingerprint sensor on the Galaxy A50. It’s not the same ultrasonic sensor that’s found on the flagship Galaxy S10 models, though – the one fitted on the A50 is an optical fingerprint sensor, which uses light from the display to map out the finger.

Meanwhile, the Galaxy A30 has slightly lower-end hardware that matches its price. It’s powered by the hexa-core Exynos 7904 with 4GB of RAM, and “only” 64GB of expandable storage. The rear camera features a dual 16MP main and a 5MP ultra-wide sensor, while the selfie camera is a 16MP shooter. Finally, the Galaxy A30 uses a capacitive fingerprint scanner located at the back of the phone.

None of all these would matter if Samsung didn’t price these devices right. Just like how Samsung sprang quite a surprise with the
RM799 Galaxy M20
, the Galaxy A30 and A50 are surprisingly affordable – especially considering how much Samsung’s mid-range smartphones used to be priced at.

The Samsung Galaxy A30 retails for RM799, while the Galaxy A50 is a surprising RM1,199. Both models are available nationwide immediately, and in three colours: Black, White, and Blue.

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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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Want To Grow Your Savings? Save Towards Your Goals With ASNB & Win Sony PS 5, 65’’ TV, & More

These days, as living costs increase, budgeting for expenses while making sure you have enough for savings can get tricky. This is especially so if you’ve taken on more responsibilities such as paying for rent, utilities, and car loan.

If you want to reach your financial goals faster, consider investing with Amanah Saham Nasional Berhad (ASNB). ASNB has a digital platform, myASNB, which allows you to invest in unit trust funds online easily. On top of that, ASNB often holds giveaways whereby users get the opportunity to take home amazing prizes when they invest.

From 1 March 2023 to 29 February 2024, when you invest with ASNB online, you stand to win monthly giveaways with ‘ASNB Simpan Vaganza Online’. Prizes include Sony PlayStation 5, 65’’ TV, holiday vouchers, and more.

How To Participate In ‘Simpan Vaganza Online’

Join the ‘Simpan Vaganza Online’ campaign from now to 30 June 2023 for Phase 1. Each month, two rounds of giveaways will be announced with the following prizes.

Prizes
April (2x)
May (2x)
June (2x)
First
1 x Samsung 65’’ Smart TV
1 x HP Pavilion Plus 14’’ Laptop
1 x Samsung Side-by-side 680L Fridge
Second
1 x Dyson V11 Vacuum
1 x Sony PS5
1 x RM2,500 Holiday Voucher
Third
6 x Phillips Air Fryer XL
6 x Samsung Galaxy Watch4
6 x RM1,000 JD Sports Vouchers
Consolation
10 x RM50 Shopee Food Vouchers
10 x RM50 Grab Vouchers
10 x RM50 Movie Vouchers

How to join? Invest a minimum of RM500 in ASNB unit trust funds online via the following platforms to win great prizes:

myASNB portal, app, and kiosk

Maybank2u and ATM

HLBConnect

Affin Always

RHBNow

CIMBClicks

AmOnline

Why Begin Your Investment Journey With ASNB

Easy to start

Open an ASNB investment account in three easy steps on the myASNB app and start investing. In addition, get an overview of your funds, manage your funds, switch funds easily, and check your total investment in real time all on one app.

Low entry

With the advent of technology, one can now invest online and in an affordable way. Start investing in fixed price and variable price funds with initial investment of RM10 and you can easily top up via myASNB or internet banking platforms such as Maybank2u at low to medium risk.

Diversification

A golden rule of investment is to never place all your eggs in one basket. With unit trust funds, your money is invested in a portfolio of bonds and shares across different geographical markets and sectors. This way, you can diversify your portfolio and manage your risk.

Goal-oriented

myASNB’s Target Labur feature helps you save towards your financial goals easily.  Select a suggested goal or even create your own specific goal and key in a target amount and date for each goal. Then, the app will tell you how much to invest monthly. You can even set up automatic deductions with Auto Labur so you won’t forget.

Established and trusted

Invest online safely with ASNB, a unit trust investment company under government-linked investment company (GLIC) Permodalan Nasional Berhad. ASNB is well-established in Malaysia and is regulated by the Securities Commission Malaysia.

***

Many people deprioritise saving for long-term financial goals such as buying a home to instantly fulfil the demands of living a certain lifestyle. However, there are many benefits of starting your investment journey early. In your 20s, you have a long investment horizon and are able to take on more risks when investing.

Start investing online easily with ASNB to work towards your financial goals conveniently with features like Target Labur. In the meantime, you could also walk away with attractive prizes from Samsung, Dyson, Sony, Grab, Shopee, HP, and more.

Sign up for ‘Simpan Vaganza Online’ to win prizes
here
.

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Government To Consider Loan Moratorium Extension

Prime Minister Tan Sri Muhyiddin Yassin said that the government has approached Bank Negara Malaysia (BNM) and the Association of Banks in Malaysia (ABM) on the matter of extending the bank loan moratorium.

According to Muhyiddin, the government had received requests from various parties on the need to extend the moratorium, especially for those affected. As such, it will look into the approach to facilitate the process for those who really require such support.

“A lot of the moratorium matters are related to banks that are regulated under Bank Negara and it is not under the provision of the government. For any calls for it (moratorium) to be continued, for sure we will need to discuss it with Bank Negara and the Association of Banks in Malaysia on whether it can be considered,” said the prime minister. He added that a decision will be announced soon, and that consideration will be provided to specific groups who are badly affected.

Muhyiddin also emphasised that Malaysia was the only country to provide a
blanket moratorium
 as part of its efforts to help citizens cope with the financial impact from Covid-19. Announced in March by BNM, the moratorium was in effect for six months, starting from April until September.

“There’s no other country that took the approach taken by Malaysia by offering automatic moratorium to all borrowers. This method has advantages in that it gives assistance to many, quickly,” said Muhyiddin

The government subsequently switched to a
targeted approach
 of offering banking financial aid (including
extended moratorium
) after the end of the blanket moratorium. This is because the high take-up rate for the blanket moratorium by almost all borrowers had reduced the funds for those who are truly in need. Additionally, it had also caused banking institutions to have lesser funds to issue new loans.

(Image: The Malaysian Reserve)

As of 16 October, banks have received more than 650,000 loan repayment assistance applications, out of which 603,500 are individual applicants. Another 43,000 applications are from small and medium enterprises (SMEs), and the remaining 3,500 are from other businesses. The approval rate for these applications stand at 98%.

(Source:
Malay Mail
,
New Straits Times
)

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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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