3 Ways to Earn Credit Card Rewards That You Might Not Know About

Most credit card users – be it the new or the veterans – know that rewards credit cards are some of the most valuable financial tools you can have in your wallet. The reason behind it is simple; you spend with your
rewards credit card
, you earn reward points (from eligible purchases), and you redeem them for goodies such as air miles and gadgets.

Of course, you’ll need sufficient points before you can start redeeming your rewards, but it’s not a difficult thing to achieve. All you need to do is strategise your spending and use your rewards credit card to its full capacity. In fact, most credit card providers even offer great sign-up offers to help you accumulate your reward points faster.
HSBC Visa Signature for one offers up to 100,000 reward points
 to new users.

But you shouldn’t stop at your bonus reward points (assuming you get any from your credit card provider). Instead, look for more ways you can earn reward points with your rewards credit card. Here are some of the lesser-known – but no less effective – ways for you to grow your reward points faster;

Set Up Automatic Payments for Your Bills

Many credit card users don’t realise this, but setting up automatic bill payments with rewards credit cards can save so much time and effort
while
 earning reward points. You can set up automatic payments for your utility bills such as electricity, water, internet, and even your monthly medical or insurance premiums.

Once you have the automatic payments set up, you can sit back, relax, and watch your reward points multiply – by a lot.

Add a Supplementary Card

Do you have a rewards credit card that gives you points for multiple types of purchases? Don’t waste your opportunity to accumulate reward points and get your spouse or family member (someone you can trust on financial matters) signed up as a complimentary card holder.

In most cases, purchases made by supplementary card holders are eligible for reward points, but the points are accumulated under the primary card holder’s account – you. Of course, this rule may vary from one credit card provider to another, so check with them first before you sign anyone up as your supplementary card holder.

Opt for Online Shopping

Even if you’re not an avid online shopper, you might want to expand your shopping preferences to virtual malls. Most credit card providers offer a myriad of perks when you shop at selected websites and online stores. This includes discounts, promotions, and of course, bonus reward points.

For example, if you’re a HSBC Visa Signature credit cardholder, you get discounts when you shop with it on online stores like Zalora and Lazada. What’s more, you get 5x reward points when you shop online in Ringgit Malaysia, and a whopping 8x reward points when you shop online in foreign currencies!

Did we pique your interest about HSBC Visa Signature credit card? Check out more details on this rewards credit card by clicking on the button below!

Other Things You Should Remember

Take note that late payments and outstanding balances may forfeit the reward points that you’ve spent a lot of time to accumulate. To avoid any financial mayhem, practice responsible spending; pay your credit card bills on time, and avoid spending more than what you can afford.

On the same note, try to pay off your credit card balances in full every month as interest rates and finance charges could potentially impact your reward points. There are plenty of ways for you to accumulate reward points without overspending, you just need to understand the reward programme offered by your credit card better.

If you want to know more about reward credit cards and how to not misuse them read our article on
The Worst Mistakes People Make With Their Rewards Credit Card
! Don’t forget to let us know your thoughts and suggestions in the comment section below!

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Win Nintendo Switch OLED & Apple Watch Series 8 This Week

The Unbox This Week credit card campaign is back with exciting gifts you won’t want to miss.

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 17 to 25 October, our featured bank partners are

Citibank, HSBC Bank, Standard Chartered Bank, 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!

Citibank – Nintendo Switch OLED

Win the Nintendo Switch OLED when you apply for a Citibank Credit Card this week! Get immersed completely in virtual worlds with stunning visuals and vivid colours. The Switch OLED also comes with a wide adjustable stand so you can rest it on your table to play.

Don’t worry if you’re not selected, as you will still get guaranteed Apple Airpods to soothe your blues away.

Remember to activate and spend a minimum of eight retail transactions on your new card within 60 days upon gaining approval. Once the bank has confirmed your eligibility with us, you’ll receive instructions from us via email on how you can claim your gift.

Take note, though, that current cardmembers and individuals who have cancelled their Citibank credit cards within a year prior to this campaign do not qualify for this promotion. Otherwise, those who wish to apply for their new Citi credit cards can
head on over here to do so
.

HSBC Bank – Apple Watch Series 8

Stand a chance to win the Apple Watch Series 8 when you apply for a HSBC Credit Card! Navigate your days easily with the bright Always‑On screen. Stay healthy and safe with health sensors and features like the Crash as well as Fall Detection.

For those who are not selected, you will still walk away with a guaranteed RM600 TNG 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
.

Public Bank – Fitbit Versa 2

Racing to reach all of your health and fitness goals? Win the Fitbit Versa 2 when you apply for a Public Bank Credit Card! Personalise your clock face, enjoy battery that lasts for six days, monitor your heart, and commit to goal-based exercises all with your Versa 2 smartwatch.

For those who are not selected, you will still get a guaranteed JBL Wave 100TWS True Wireless In-Ear Headphones that boast deep bass sound, 20 hours of combined playback, and more.

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
.

Standard Chartered Bank – Tefal Rice Cooker RK7405

Everyone’s a winner when you apply for a Standard Chartered Credit Card! Take home a guaranteed Tefal Rice Cooker RK7405 that comes with a cutting-edge spherical bowl and Fuzzy Logic Artificial Intelligence that makes rice like those cooked in traditional woks thanks to its excellent heat circulation..

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
.

Alliance Bank – Amazfit T-Rex Pro or Samsung Galaxy Fit 2

Take home a guaranteed AmazFit T-Rex Pro or Samsung Galaxy Fit2 when you apply for a new Alliance Bank Credit Card.

The AmazFit T-Rex Pro is made for adventures with military-grade toughness, 10 ATM Water-resistance, and is best of all, guaranteed to you when you apply for an Alliance Credit Card with Balance Transfer.

Meanwhile, you will receive the Samsung Galaxy Fit2 smartwatch that is equipped with a 1.1-inch full colour AMOLED display, thin design, and more when you apply for an Alliance Credit Card.

Upon approval, you just have to activate and spend to meet the requirements of the campaign and be eligible to get the prize. 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
.

***

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 25 October (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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The Best Ways to Make Money From Home

Sometimes, in some situations, we can’t exactly go out and do office work for income. Whether it be transportation issues, being in between jobs, too busy
making money off Pokémon Go
, or being a stay-at-home parent. However, that doesn’t have to mean not being able to make money at all. There are many ways to supplement your income stream, without having to leave your neighbourhood.

The best jobs ideas for you might even be ones that pay for what you’re already doing daily! Here are four such neighbourhood job suggestions you might want to consider taking on for extra cash:

1. Meal-Catering

Making lunch for your own kids? Why not make a little more and help other working parents in your neighbourhood with meals for their kids too? By preparing nutritious home-cooked lunches, you can earn cash for the cooking you’re already doing and perhaps even cover the cost of your own food. Just be sure to find out if the families you cater for have any food allergies or intolerances beforehand.

2. Tutoring

If you’re still a master at Maths, English or other school subjects, think about setting up home-tutoring classes for the kids in your neighbourhood. It doesn’t have to take up much of your time, just a couple of hours a day with four or five students could bring in a nice sum. What’s more, parents in your neighbourhood will appreciate not having to drive their kids farther away for tuition classes.

3. Child-Minding

Having access to a babysitter within the neighbourhood can be a real blessing to working parents and a good source of money for those willing to look after their kids. You don’t have to do it full-time either, even a couple hours on the weekends can be very helpful when your neighbours need to run errands. Plus if your own little ones are social butterflies, they might enjoy having their neighbourhood friends over to play or do homework with!

4. Driving Neighbourhood Kids to School

If there are other children in your neighbourhood who go to the same school as your kids, you can earn some cash by helping to drive them to and from school. You’ll be able to cover some of your own fuel costs and perhaps still earn on top of that. Again, parents will love the idea of not having to make those extra daily car trips.

Don’t know what to do with all this extra cash you’re bringing in? One thing you can do is earn interest on the surplus by putting it in a Fixed Deposit Account. Take a gander at our
comparison page
 to see which banks are offering the most attractive rates and terms. Have you any experience with these neighbourhood jobs or others? Let us know in the comment section below!

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Can You Make It On Just RM10 A Day In 2016?

We’re more than half-way through 2016 making it roughly three years since we first took the
RM10 challenge
 where we try to survive an entire week on just RM10 a day. Today, we’re asking the question again.

With this experiment, we want to know just
how much purchasing power
 lies in RM10. Now since there are two major expenses each day – food and transport, we’re only going to look those costs. The challenge isn’t considering sundry expenses and the like, just ‘operational costs’ for the day.

Let’s first see an example of how much money is typically spent every day when one is on a moderate budget:

Transport To and From Work:

Petrol costs
 – Assume that total travel distance per day is 18.4 km, fuel consumption for an automatic transmission Myvi is 5.9 litres per 100 km, and that RON 95 petrol is selling for RM1.75 per litre. The total fuel costs under these variables would come up to RM2.00 for the entire journey.

Toll costs
 – the LDP toll rates are RM2.10 for one way (RM4.20 to and fro).

Thus, total transport costs to and from work only is
RM6.20 per day
.

Food Costs:

Regular food expenses where meals are usually eaten out at economical eateries like Mamak stalls, as well as Malay and Chinese ‘mixed rice’ restaurants, are estimated to cost around RM3 to RM4 for breakfast; RM5 to RM7 for lunch; and again RM5 to RM7 for dinner.

This means that food expenses are between
RM13 and RM18 per day
 whereas total expenses (for food and transport) are estimated at
RM19 to RM24 per day
.

Now let’s see what would happen, if we’re only allowed RM10 for expenses, which work out to half (or more than half) the usual budget.

Surviving On RM10 A Day

To get to work and back with no public transport options along the route, sharing rides and travel costs (RM2 per day) with a colleague made the most sense. Driving to and from work would have taken up approximately 62% of the RM10 budget with toll and petrol costs.

In terms of food, breakfasts for all five days and at least two lunches were prepared at home to reduce the cost of eating out. Here’s what was spent on groceries to make breakfast and lunch sandwiches:

One loaf of bread (RM2.40 or RM0.18 per slice) to last five days.

One can of
Tesco Sandwich Spread with Tuna 185g
 (RM4 or RM2 per half-can spread) to last two days.

One pack of
Emborg Processed Cheddar Sliced Cheese 5 x 20g
 (RM4.70 or RM0.94 per slice) to last five days.

Take a look at how the food and transport costs play out over five work days:

Days 1 & 2

RM (per day)

Days 3 & 4

RM (per day)

Day 5

RM (per day)

Petrol / Toll

2.00

Petrol / Toll

2.00

Petrol / Toll

2.00

Breakfast: two slices of bread plus one cheese slice

1.30

Breakfast: two slices of bread plus one cheese slice

1.30

Breakfast: two slices of bread plus one cheese slice

1.30

Lunch: two slices of bread and a half can of tuna

2.35

Lunch for Day 3: Chinese noodles

Lunch for Day 4: Kampong Fried Rice

5.00

Lunch: Mixed rice,with Chicken Sambal and Vegetables

5.50

Dinner for Day 1: Maggi Goreng

Dinner for Day 2: Nasi Lemak with fried egg

4.00

Dinner for Day 3: Roti Canai

Dinner for Day 4: two cream buns

1.40

Dinner: Roti Canai

1.40

Total:

9.65

–

9.70

–

10.20

What It Means To Live With Just RM10 Each Day

Living on RM10 a day is a feat in city areas, but for some, it can be done. Prepare however, to give up a lot conveniences when your budget is that limited.

Here are a few key takeaways from the challenge:

Transportation

Having very little to spend typically indicates that you may have to rely on public transport and share rides. Driving is just
too expensive
 because petrol and toll charges alone seem to significantly eat a large chunk of a small budget.

Food

It seems unlikely that people on budgets of RM10 a day can afford eating out for most meals. Nutrition may also suffer because hawker and processed foods are cheaper, easier, less healthy options. Furthermore, proper planning along with
packing food from home
 is necessary if you are to stick to your budget. Lastly, meal variety is restricted and it is possible that you may only afford one major meal throughout the day.

The sad truth is that there are folks forced by their financial circumstances to survive on RM10 a day and perhaps even less. Thus, an experiment like this can be a serious eye-opener to
how much money you are actually spending every day
. Chances are it’s more than you’d like and so, one way to save more every day is to track every cent spent as we’ve done in this article. When you know exactly where your money is going, you might be able to manage your finances better and improve your overall situation.

Having money troubles? Learn
how to make more
or alternatively you might want to consider taking out a small personal loan to help you work out temporary financial woes. Use our
comparison page
 for help finding a nice financing package with the most affordable rates.

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How to finance your home improvement project

In
our last article
, we gave you some handy pointers on how to save money while you spruce up your home. Today, we’re going to have a look at the methods you could use to actually fund your renovation work.

Before you take your pick of the following options, you’ll first need to determine the scale of the project, its expected completion period, and how much it’s going to set you back financially. The suitability of each funding source relies on these factors.

Cash

The simplest, fastest and most fuss-free method. With cash, you won’t have to deal with debt, interest rates, credit history checks, troublesome paperwork, loan fees and any other miscellaneous costs. That means you’ll know exactly how much you’ll need to spend right from the start.

On the flipside, paying with cash may mean dipping into the savings which you might have set aside for a rainy day. You’ll have to ask yourself if you’re willing to take that risk. For most of us, paying with cash is only realistic for small scale projects with equally small costs.

Credit card

When you can’t afford or don’t want to pay with paper, plastic may be the way to go, especially with medium scale home upgrading work. Credit cards work especially well for projects that require regular expenditure on an extended basis. You can keep charging your card as needed so long as you manage to pay off most of your bill before each fresh swipe.

Credit cards also allow you to accrue reward points and enjoy cashback rebates as a bonus. Furthermore, you won’t have to put down any of your assets as collateral.

However, if you incur any credit card debt for the purpose of home improvement, you’ll need to be certain that you’re able to repay it on time. Emergency credit card use may hamper your ability to meet your bills. Credit cards are notorious for their high interest rates and you don’t want to be stuck with those.

Personal loan

Just like credit cards, you won’t need to put down any collateral for this funding method. Unlike credit cards, however, you’ll be subject to a credit history review. A personal loan can be used to pay off small to medium-sized home renovation projects.

If you qualify for one, personal loans may offer better interest rates than credit cards. You’ll also be able to negotiate with your bank a repayment plan that you’re fully comfortable with. Take note though: If you want to pay off your personal loan ahead of schedule, you might be charged a penalty fee based on the amount of interest lost to the bank. This isn’t an issue you’ll face with credit cards.

Home equity loan

This funding method is best for large scale home renovation projects that are expensive and long-drawn. Because you’ll be committing your property as collateral, a home equity loan offers the best interest rates among all the external financing options provided here.

While the relatively lower interest rates and wide margin of financing may make this avenue highly attractive, you’ll also have to be extra disciplined and diligent when it comes to repayment. Remember, you’re basically surrendering some level of your home’s equity to the bank – default once too often and you run the risk of losing it!

In a nutshell…

Cash, credit card, personal loan and home equity loan. There’s no one size fits all when it comes to choosing among these financing options for renovating your house. Whichever you go for, just make sure that it suits your needs the best, and that it’s a commitment you’ll be able to follow through. Repayment penalties never come cheap.

Image source:
http://www.klondikecontracting.com

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Grab Broadens Digital Prospects For Malaysian Micro, Small, And Medium Enterprises

Many parts of our lives were impacted as a result of the pandemic. How we viewed our social life, work, relationships, health, and so on, saw a change while we adjusted our ways, abiding by newly enforced national health measures. Due to the Movement Control Order (MCO), people stayed at home to minimise the chances of spreading the virus so consequently, businesses that largely depended on in-store purchases were heavily affected.

Businesses of all sizes took their operations online in hopes of sustaining through the series of Covid-19 waves. Although the government has always envisioned a digital nation, the pandemic undoubtedly propelled digital transformation for many Malaysian businesses.

Accelerating Business Growth In Difficult Times

As an all-in-one app that offers anything from fresh produce to ride-hailing, Grab has become a platform that has helped catapult businesses to center-stage – increasing visibility to all kinds of consumers.

On top of that, Grab had increased their undertaking in the past year and a half to further assist small and medium-sized enterprises in their digital transformation journey as well as to help reach more consumers. This aligns with their vision of wanting to provide equal access and opportunity for MSMEs to sustain during this challenging period through their platform.

GrabMart, Grab’s on-demand everyday goods delivery service, as well as GrabPay, their very own e-wallet, expanded its reach beyond Klang Valley. Not only that, they also enhanced their operations so it’s easier for businesses to digitalise their business and embed themselves onto the Grab platform.

Grab also launched a number of initiatives to assist additional MSMEs like Pasar by GrabMart, Food Courts by GrabFood, and The GrabFood Small Business Programme. Pasar by GrabMart and Food Courts by GrabFood enable users to order either a multitude of hawker favourites or from different food court vendors with just a single delivery fee. On the other hand, The GrabFood Small Business Programme is a holistic approach that helps small businesses adapt to the growing demand for delivery services.

Joining Forces For An Even Greater Impact

In an attempt to synergise for the greater good of businesses, Grab has also worked hand in hand with the government as well as state agencies’ resources in finding more impactful and innovative solutions. In doing so, Grab collaborated with Platform Selangor (formed by the Menteri Besar of Selangor Incorporate), DesaMall@KPBL (formed by the Kementerian Pembangunan Luar Bandar), and Damansara Asset Sdn Bhd (Johor Corporation’s property services arm), as well as the recently launched Minggu Peniaga Kecil and Retail Digitalisation Initiative to help MSMEs take on digital transformation.

Following the onboarding of thousands of MSMEs onto the Grab platform, their access to millions of Grab consumers nationwide resulted in a steep increase in sales revenue, recording numbers in the ten thousands.

Grab also teamed up with MDEC for the 2020 Shop Malaysia Online (SMO) campaign, which was part of the government’s Short-Term Economic Recovery Plan. SMO was a highly effective endeavour in which numerous digital platforms, including Grab, collaborated to not only digitalise MSMEs, but also to encourage and drive consumers to support and spend money on them through co-funded marketing.

As a result, 8.2 million consumers shopped online, affecting 202,000 businesses, while the MSME Onboarding project assisted 33,000 new MSMEs in joining various eCommerce platforms – all in 2020.

Shop Malaysia Online (SMO) Propelled Businesses To Greater Heights

As a business that took part in last year and the current SMO campaign, Desonny Tuzan, owner of Charlie’s Cafe and Bakery felt grateful to the government for their support. With an F&B restaurant facing the repercussions of health measures and dine-in restrictions, having his business participate in the national campaign greatly increased brand awareness and scale accordingly to serve customers from different areas.

“The far-reaching impact national campaigns such as SMO have on small locally owned businesses like ours is indescribable. It has not only increased our exposure, but helped us scale to serve consumers far and wide, which is something we could never imagine possible.”

– Desonny Tuzan, owner of Charlie’s Cafe and Bakery

Lim Cai Jin, co-founder of Handmade Heroes, a local beauty brand that was featured on Vogue’s YouTube channel, shared that although their sales took a hit from the pandemic due to the disruption to their supply chain, business performance has been promising.

“I really hope to see more similar government-led campaigns and partnerships with platforms as it does not just empower businesses who are already online, but also encourages traditional merchants to embrace eCommerce to grow their businesses,”

– Lim Cai Jin, co-founder of Handmade Heroes

Director of emerging fashion label The Lady’s Closet, Casslene Ng, was pleasantly surprised and happy with the reception the brand received from both new and returning customers.

“We thought they would be conservative with their spending due to the economic impact, but we are surprised. I suppose they are attracted to the SMO discounts, and since they are earning GrabRewards points, they can use it to redeem vouchers to shop more!”

– Casslene Ng, Director of The Lady’s Closet

Expanding The Platform Economy Especially In Non-Urban Regions

Grab users are constantly enticed by the rising number of available merchants on Grab, along with its attractive discounts of up to 50% off on meals, groceries, beauty, and more. Not only are they spoiled for choice, but the platform also gives them the avenue to discover thousands of businesses that they otherwise would not have known.

Regardless of the fact that SMO is an example of what can be accomplished through a public-private partnership, Malaysia is still in the early phases of bringing MSMEs online, with just 36% of MSMEs participating in the platform economy. Grab looks to continue exploring collaborative works with the government to positively impact more businesses and consumers especially those in the non-urban regions.

To find out more about Grab’s SMO campaign which ends on 30 November 2021,
click here
.

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Lisa Ameera Azman

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Economist: Budget 2021 Will Carry Initiatives Similar In Nature To PRIHATIN And PENJANA

(Image: Malay Mail)

Economic expert Professor Dr Jamal Othman has opined that Budget 2021 will not see drastic changes from previous national budgets. However, he expects it to carry initiatives that are similar in nature to the PRIHATIN economic stimulus package and the PENJANA economic recovery plan.

Speaking in a discussion on Bernama TV, the professor said that the upcoming national budget will likely still hinge on aspects such as the people’s employment and income. He also said that the government will not place direct focus on the gross domestic product (GDP) of the country. Rather, the GDP will reflect the effect when the government addresses more pressing issues in the country, such as jobs.

“Faced with the Covid-19 pandemic situation, I think the issue of economic growth is not the highest priority; what’s more important is to protect our ability to continue with our lives (as usual), which is inextricably linked to income. Economic growth will come later on,” said Professor Jamal.

Professor Jamal also predicted that the budget deficit may widen from 5.5% to 6% of the GDP, which is not unusual due the challenging global economic situation in 2020. He explained that countries with open economies will naturally be more affected, and this is reflected in the dip in Malaysia’s exports. Consequently, Malaysia must depend on domestic consumption to aid the country’s economic recovery, although this plan may be hindered by the people’s loss of jobs as businesses are forced to downsize for survival.

That said, the professor noted that Malaysia’s unemployment rate has been on the decline since the record-high rate of 5.3% in May, indicating the success of the
PRIHATIN
 and
PENJANA
 initiatives that were implemented. As of July 2020, the country’s
unemployment rate had dropped to 4.7%
.

Professor Jamal – who hails from the Economics and Management Faculty of Universiti Kebangsaan Malaysia – specialises in several areas of research, including economic valuation of environmental resources, commodity market, as well as trade, factor market, and rural economics.

(Source:
The Sun Daily
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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New Maxis Family Plan Offers Unlimited Data For Home And Four Mobile Lines From RM299

Maxis has launched its new Maxis Family Plan, which aims to provide families with an affordable home broadband and mobile data package to meet their daily internet needs. Starting from RM299 per month (with a contract period of 24 months), the new plan comes with unlimited data for one home broadband and four postpaid lines.

With regard to the home broadband, customers can opt for either an unlimited 30 Mbps broadband speed or Home 4G WiFi (for customers who are out of Maxis’ fibre coverage). If you’re in need a faster internet line, however, you can choose to upgrade it up to 800Mbps at an additional fee, starting from RM40 per month. On top of that, the home internet also comes with 4G backup, ensuring that you will always be able to stay online – even when your fibre line drops. Meanwhile, the four postpaid mobile lines come with unlimited data, calls, and SMS.

Aside from these items, the Family Plan also comes with some extra offers that let you purchase new devices at a huge rebate. There is an option to purchase up to four new devices via Maxis Zerolution, starting from RM19 for each postpaid mobile line at 0% interest rate. You can choose from a selection of smartphones, tablets, and smartwatches for this offer.

On top of that, there is the TV Zerolution promotion, where you’re able to obtain a 65” Samsung TV (4K UHD) from as low as RM1 per month. At the moment, Maxis is also running an additional
limited-time-only Raya deal
 alongside the TV Zerolution promotion, letting you get the Samsung TV at a further discounted price, especially when you upgrade the speed of your home broadband.

To compare, the new Maxis Family Plan comes across as a much better deal than the existing
MaxisONE Prime plan
, which also provides families with unlimited data for both mobile and home fibre broadband. For context, the MaxisONE Prime plan (which has been rebranded as
Maxis Unlimited Postpaid & Fibre)
 lets you choose a combination of any MaxisONE Plan (postpaid lines) starting from RM98 a month, and any home fibre plan of your choice from RM89 a month. Here are the options that you have under the MaxisONE Prime plan:

From this, you can see that if you were to choose a MaxisONE Prime package comparative to the new Maxis Family Plan (one home broadband at 30 Mbps + four mobile lines), you will need to pay a total of RM391 instead (RM89 for home broadband + RM158 for MaxisONE Plan + RM48*3 for 3 share lines). With the new Family Plan now priced at just RM299, you are able to save up to 23.5% – which is quite a decent deal!

If you’re interested to find out more about the new
Maxis Family Plan
, head on over to the telco’s website.

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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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MTA: Digital Insurers, Takaful Operators Can Boost Takaful Penetration Rate To 30%

(Image: Berita RTM)

The Malaysian Takaful Association (MTA) has said that digital insurers and takaful operators (DITOs) will be able to help Malaysia increase its takaful penetration rate from 18.6% in 2021 to 30% by 2027. This is as the country continues to strive for an
overall insurance penetration rate of 75%,
 as previously set by the government.

Chief executive officer of MTA, Mohd Radzuan Mohamed said that DITOs will play a big role in digitally transforming the insurance and takaful segments. “Hopefully, DITOs will be able to supplement some numbers to the target rate as we all know that insurance and takaful operators offer diverse products and services. DITOs can help operators reach untapped areas to introduce their products to the people,” he said.

Chief executive officer of Deloitte Malaysia, Yee Wing Peng, too, echoed the sentiment, adding that the upcoming introduction of the DITO framework will help streamline the process. This is as the framework will promote innovative product design, better risk-response underwriting practices, more efficient claims management process, and seamless service to consumers.

For context, Bank Negara Malaysia issued its
exposure draft for the DITO framework in November 2022
, seeking written feedback from industry players. This came after the issuance of the discussion paper back in January, in the same year. Essentially, the framework aims to facilitate the entry of DITOs to serve the unserved and underserved markets, as well as provide better offerings, via the adoption of technology and innovative business models.

(Image: Bernama)

Yee further shared that Malaysia’s insurance penetration rate currently stands at 4.7%, in comparison with the higher global average of 7.2%. Additionally, only 25% of working adults in the B40 household group have purchased some form of life insurance or family takaful cover – significantly lower than the 59% of insured working adults recorded for the general population.

“DITOs can play an important role to close the protection gap, especially within the B40 household,” Yee said, adding that DITOs can also contribute towards better social and economic benefits with its services, such as reducing poverty. In turn, this will help Malaysia in its transition to become a digitally driven, high-income developed nation.

(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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You Can Now Use eGUMIS To Check For Unclaimed Monies Online

(Image: New Straits Times)

In a bid to make it easier for Malaysians to find out if they have any unclaimed monies held by the government, the Accountant General’s Department of Malaysia (AGD) has recently launched the Electronic Government Unclaimed Money Information System (eGUMIS).

If you’re wondering, unclaimed monies basically include any unpaid salaries, dividends, tender deposits and insurance claims, matured fixed deposits, as well as money in dormant trade, savings, current, and fixed deposit accounts.

As discovered by SoyaCincau, the eGUMIS portal is now live, significantly improving and simplifying the enquiry process. What used to be a tedious process of queuing up at the AGD office can now be done online in a few clicks.

Here’s how you can use eGUMIS to check if you’ve got any unclaimed cash with the government:

If you’re new to eGUMIS, you’ll have to first register an account on the
eGUMIS portal
. You will receive a temporary password via your email.

Once you have registered, log in to your account and update your password and profile.

To check for unclaimed monies, click on “Click Here to Search for Unclaimed Monies”/“Klick Di Sini Untuk Carian Wang Tak Dituntut”.

Key in your IC number, and the search result will show if you have any unclaimed monies.

Do note, though, that while you can help to check for your family members and friends as well, you are only allowed 2 searches per day.

If you
do
 have unclaimed monies, then you will have to proceed to a separate
application process
 with the AGD. The current eGUMIS has, unfortunately, yet to integrate online refund services as part of its functions.

(Image: Bernama)

According to Deputy Finance Minister Amiruddin Hamzah in November 2019, the government had been holding on to
RM10.8622 billion
 in unclaimed monies as of 31 October 2019, although RM2.085 billion had been refunded.

In the same announcement, Amiruddin also mentioned that eGUMIS was being put through a stress test to ensure that it would not suffer system crashes upon launching. At that time, the portal was slated to be launched late 2019 or early 2020.

Check if you have any unclaimed monies with
eGUMIS
 here.

(Source:
SoyaCincau
)

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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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    lee lay ee

    3 years ago

i am not able to even register for an account on eGUMIS. Please help

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    James Jan

    3 years ago

the website is so broken, the online form allows only selection of bank name but no field for account number and the “Save” button does not work. so the application stalls as draft forever.

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    Mahalingam Veluppillai

    2 years ago

How can i check the unclaimed monies for a company

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    Patricia Mascrinas

    2 years ago

How do I check for my late sister or my late dad .

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Astro Launches Its Own Astro Fibre Internet Service With Limited-Time Offers

Astro has embarked on its journey to becoming an internet service provider by rolling out its own internet service, Astro Fibre. Unlike the existing Astro and Broadband packages – which are offered through Astro’s partnership with Maxis and Allo – the all-new Astro Fibre is a first-party service.

Under Astro Fibre, you’ll still be able to subscribe to packages that bundle fibre services with Astro content. There are four selections of fibre speeds that you can choose from: 50 Mbps, 100 Mbps, 500 Mbps and 800 Mbps. Meanwhile, Astro content available for your choosing includes the Primary Pack, Entertainment Pack, Sports Pack, Entertainment Plus Pack, and Premium Pack 2 (Entertainment Plus with Sports). Depending on the fibre speeds, you can choose from a selection of options available for the Astro content bundle.

As part of Astro Fibre’s launch offer, those who sign up for
any
 Astro Fibre plans between 24 March and 30 June 2022 can enjoy rebates as well as receive a complimentary WiFi 6 Router and a Mesh WiFi. Check out the pricing below to see how much you can save when you get an Astro Fibre plan during the promotion period:

As you can see, the most affordable plan will be the Astro Fibre 50 Mbps with the Astro Primary Pack. Dubbed Pek Jimat 129, you can get a RM29 monthly rebate when you sign up for the plan during the promotion.

All of the Astro Fibre plans listed above will come with Astro GO, and Astro Fibre plans with either the Entertainment Plus Pack or the Premium Pack 2 bundled in, you will also get to enjoy TVB Anywhere and Netflix at no extra cost.

Do also note that the complimentary Mesh WiFi provided as part of the promotion is actually an add-on subscription. You will get it for free for 12 months when you subscribe to any of the 50 Mbps plans, or 24 months for any other plans. Once the free subscription period ends, you will have to pay a monthly fee of between RM10 to RM25 per unit to continue using the Mesh WiFi.

For enhanced entertainment, each Astro pack comes with either the Ulti Box that supports full HD resolution, or the Ultra Box that is designed for 4K resolution. The Primary Pack across all fibre speeds comes with the Ulti Box, while other packs come with the Ultra Box.

To learn more about Astro Fibre, browse through the
Astro Fibre catalogue
 and visit the
FAQ page
.

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Nur Adilah Ramli

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Hong Leong Credit Card PicknSave.my Festive Celebration

Exclusive Free Gift When You Use Your Credit Card To Shop Online At PicknSave.my

The wonderful folks in the
Hong Leong Bank
 credit card team have spoiled us again with another exclusive online shopping offer.

Simply register as an HLB member
 on the
PicknSave.my website
, buy something, and win a free gift. At the moment that’s a free bladeless fan or chatterphone.

And if that weren’t enough, once you’re registered, just use your Hong Leong Bank credit card at
PicknSave.my
 to win exclusive deals all year round.

Terms and Conditions Apply.

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ringgitplus

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Budget 2020 And What It Means For Your Wallet

A commentary by Hann Liew, CEO of RinggitPlus

I am very hopeful with the #Budget2020 that was tabled today. It is more expansionary and inclusive than expected on the spending front, holding the course on redistribution back to the B40 and M40 segments but at the expense of our budget deficit target which is now projected to be 3.2% for 2020, compared to the previous target of 3.0%.

As a digital entrepreneur, I am particularly pleased with the significant focus on the digital economy growth as a key driver of our future economic growth. I am also excited to see the same focus is given to (1) high-speed broadband and the National Fiberisation and Connectivity Plan, (2) smaller digital business incentives such as matching grants for retailers and SMEs to upgrade their Point-of-Sales (POS) and payroll to digitised systems, as well as (3) a more consumer-driven RM30 one-off credit in Malaysians’ e-wallet accounts early next year.

While the latter is in line with my personal views of moving Malaysia towards becoming cashless, I would advise the Government to limit the incentive to e-wallets that disallow a cash-out facility. Otherwise, it would reduce the effectiveness of this measure in pushing Malaysians towards actually making payments with their e-wallets and being a cashless society. Additionally, while the absolute amount is small, given the scope and scale of the policy, I’m hopeful that we will get close to a similar impact of the banknote demonetisation policies seen in other countries, such as India.

As an approved participant in the Bank Negara Malaysia (BNM) Fintech Regulatory Sandbox, and having helped over 1,000,000 Malaysians with their financial product applications, we at RinggitPlus are particularly excited with the reinforcement of focus by our Finance Minister, YB Tuan Lim Guan Eng, on the Digital Banking Framework, which will be finalised in 2020. Further to that, we welcome all interested parties, private or public, to engage with us to propel the nation towards a fully digitalised consumer financial services industry.

For the People

While I fully support the Government’s initiative to rebalance the books and redistribute income in line with their Shared Prosperity Vision 2030, a two-point increase to a 30% tax rate for those earning more than RM2 million feels like it misses the mark a little, at least visually. Why? Despite crossing the psychological 30% threshold for a top tax rate, this new tax band only affects a total of about 2,000 taxpayers hence limiting the impact of this measure. I feel that carrying out a sensitivity analysis on all taxpayers earning above RM250,000 per year and keeping the highest-income tier rate at 28% or 29% would have been a better alternative. This would allow us to keep the top rate under that 30% optical mark, and still increase the net revenue impact on the Government’s coffers.

At RinggitPlus, every Malaysian’s propensity and ability to save is at the heart of what we do. Our recently released
RinggitPlus Malaysian Financial Literacy Survey 2019
 (RMFLS 2019) results unveiled a scary statistic that 37% of Malaysians who earn under RM2,000 are unable to save a single sen. As such, we welcome the various initiatives that will undoubtedly increase the savings rates among Malaysians, particularly in the B40 segment.

This includes (1) the increase in minimum wage to RM1,200 in urban centres, (2) the expansion of Bantuan Sara Hidup (BSH) to cover single individuals aged 40 and above and all disabled persons aged 18 and above, earning less than RM2,000 per month and (3) increasing the flexibility for Private Retirement Scheme (PRS) early withdrawals without penalties for housing and medical treatment expenses, drawing it closer to the level of flexibility that Employees’ Provident Fund (EPF) savings offer.

Another great initiative tabled is the Malaysians@Work initiative and I say great because another key survey finding from our RMFLS 2019 was that 89% of Malaysians claimed that EPF savings alone is insufficient. This initiative does not just provide Malaysians with money but credits it straight into their EPF. We are looking at a total of RM12,000 over a 2-year period when this is enforced and this would greatly benefit women and graduates who have not gotten a job in a while, and generally in getting people back to work. This should encourage not only higher savings behaviour but also absolute levels of residual income after expenses among the B40 segment.

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The Best Car Safety Add-Ons For Every Budget

You can’t teach an old dog new tricks, but you can definitely beef up an old car and make it a whole lot safer.

We are not referring to huge modifications like broader tyre bases, a racing suspension kit, lowering your car or anything extreme that will cost you more than the value of your car. Consider looking into a few minor add-ons that will enhance your driving experience and keep you safe on the road.

Here are a few simple gadgets you can easily attain for a reasonable cost.

Reverse Camera

This is a fairly common piece of equipment in most modern cars which assist you when reversing. It allows you to use visual judgment while parking instead of relying solely on the beeping sensors and cranking your neck turning back to estimate how much space you have behind you. The danger of only using sensors is that they may not detect objects below a certain height, like the curb.

However, many of the older cars do not have this feature. Which means you could heavily benefit from adding a reverse camera. On
11 Street
, some of these reverse camera packages go for about RM250 for both the camera and the screen.

This add-on will particularly help bigger vehicles like trucks, MPVs, or vans when they’re slipping into a tight parallel parking spot.

Dash Camera

Now that you have protected the back of your car, a dash cam would be a great add-on to record any mishap, especially ones that are difficult to justify.

According to the law, the person that hits the car in front of it is at fault. However, sometimes accidents can occur where that’s not the case due to people’s reckless driving. Having this tiny device on the front of your car would allow you to plead your case and put the real culprits under investigation, especially those who are driving with a phone in their hand.

A simple dash cam will cost you approximately RM50 on
Lazada
, without a screen and installation cost. You can always head on over to a workshop and negotiate a better deal if you purchase one and get them to install it for you.

Phone Holder

Many people rely on their phones even while driving. Some for navigation, while others just use it for entertainment in place of the radio. Whatever the case, it would be extremely unwise to hold it while maneuvering a car at high speeds.

As basic as this may sound, having a phone holder would keep your eyes at road level, and more importantly, both hands on the wheel. If professional racers with less traffic and safer environments require two hands to drive their cars, what makes you think you only need one hand to weave around public roads with potholes?

A phone holder will cost you approximately RM15 for a really basic version in a D.I.Y. store or you could always opt for a fancier looking one if your budget permits.

Bluetooth Car Kit

According to a report by
FMT
, one of the primary causes for road accidents are the use of mobile phones while driving. We are constantly reminded by public service messages to avoid doing this, but many people ignore them, believing that they know better.

You are not only risking your own life here. Imagine colliding into a car with a vulnerable infant, an elderly person, or a pregnant lady? You may walk away with a few bumps and bruises but other people could go through hell and may even end up permanently disabled, or worse.

Invest in a bluetooth car kit where you can not only play your favourite songs, but answer your phone with both hands firmly on the wheel. These bad boys are easily attainable and integrated into your car’s interior system. The best part is, it can be attained on
Lelong.com.my
 from as low as RM21.20.

Blind Spot Detection System

One of the cooler add-ons you can install on to your car, is a blind spot detection system. When strategically placed on to your vehicle, it detects cars that are sitting in your blind spots when they are within a certain range.

Some can even be hooked up to your smartphone and converts into a screen that notifies you when you are close to another car on your left or right, when you are about to switch lanes.

While it is not widely available in Malaysia just yet, you can easily source for it in specialty stores or get one from
eBay
, for approximately US$50 (RM211.49).

Always be Protected

While it is impossible to be safe even with all these additional add-ons, you have to ensure that your insurance policy is up to date and has the right coverage for you.

The next time your car insurance is about to expire, don’t just let it get auto-renewed. Head on over to our
comparison page
 and run through all the different ones available and ensure you have the best one, especially after all the old tariffs have been lifted.

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Gavin Pereira

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APIB Launches New Digital Investment Bank In Labuan, Asia Digital Bank

(
Image: Bernama
)

Chinese state-owned Asia Pacific Investment Bank (APIB) has officially launched its new digital investment banking arm, Asia Digital Bank Ltd (ADB) in Malaysia. The newly launched entity aims to become the world’s leading digital asset operator by tapping into advanced digital financial technology to achieve its goals.

ADB is a digital investment bank with self-financial servicing platform that is powered by blockchain technologies. It seeks to serve corporate clients globally by providing compliant and quality digital asset management and trading services, on top of promoting the development of an ecosystem suited for global asset digitalisation.

With regard to its legitimacy to operate within the country, ADB received its
digital banking licence for investment banks from the Labuan Financial Services Authority (LFSA)
 in November 2020 – the first such licence to be awarded by the LFSA. Accordingly, the chief executive officer of ADB, Chris Wang assured that the bank will abide by the Labuan Financial Services and Securities Act 20100 (Act 704) as it works to innovate digital finance products and business processes. Additionally, it will adhere to all other compliance and risk control standard requirements.

(
Image: The Star
)

Wang also explained that ADB uses an advanced blockchain technology platform with Big Data, cloud computing, artificial intelligence (AI), and other technologies to spur the development of the digital investment banking business. Its unique blockchain design (consisting of consortium blockchain and public blockchain) will also provide various other benefits, including separating the digital asset investment and financial services from brokerage business, promoting self-financing management, as well as reducing corporate financing costs.

Wang added that ADB will continue to contribute to the development and wellbeing of communities in both Malaysia and China, as well as the global digital economy. “ADB will make use of its platform to serve the global market and worldwide clients by providing core services such as cross-border investment and financing capabilities, digital asset management, as well as cross-border structured trade financing,” he said.

Meanwhile, the deputy director-general of LFSA, Datuk Iskandar Mohd Nuli said that the launch of ADB will encourage and promote the innovation of Malaysia’s digital finance industry. He said that LFSA has been striving to develop Labuan as a competitive and high value-added global financial service hub, and hoped that more financial institutions like ADB will participate in the development of a financial hub in Labuan, as well as in Malaysia.

For context, APIB was established by Asia Pacific Wenjing Financial Group Ltd in 2015, and is registered in Labuan. Meanwhile, Asia Pacific Wenjing Financial Group Ltd is itself a subsidiary of China’s Nanjing Investment Group Co Ltd, and was founded in Malaysia to provide international financial services for countries that are involved in the Belt and Road Initiative.

(Sources:
The Edge Markets
,
The Sun Daily
)

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Health Minister: Low-Income Group Entitled To Free Health Screening Through PeKa B40

(Image: The Star/Art Chen)

Health Minister Khairy Jamaluddin has reiterated that Malaysians from the low-income group who are aged 40 and above, and are also Bantuan Prihatin Rakyat (BPR) recipients, can tap into free health screenings through the PeKa B40 programme.

“PeKa B40 aims to meet the health needs of the low-income group by focusing on non-communicable diseases,” said the minister via a video posted on his Facebook account, adding that no registration is required for the health screening.

Additionally, Khairy shared that aside from health screenings, the PeKa B40 programme also offers other perks, including medical device assistance (up to RM20,000 of equipment value), incentives to complete cancer treatments (worth RM1,000), and transport incentives (up to RM1,000). He also said that Malaysians can check their eligibility for the programme and the location of participating clinics via the
PeKa B40 official website
.

The
PeKa B40 programme
 is a healthcare protection scheme that was first introduced during the tabling of Budget 2019, before it was further
upgraded under Budget 2020
. It is managed by ProtectHealth Corporation Sdn Bhd, a wholly owned subsidiary of ProtectHealth Malaysia, which is itself established under the Ministry of Health (MOH).

(Source:
Malay Mail
)

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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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Maybank Campaign Offers RM2 Cashback For Cardholders Who Spend Via Apple Pay

Maybank is currently running a campaign that allows its credit and charge cardholders to earn RM2 cashback whenever they make a transaction using their cards via Apple Pay. Already ongoing, the promo is set to run from today until 31 January 2023.

To participate in this campaign, cardholders must pay for eligible transactions using Apple Pay with their Maybank Mastercard, Visa, or AMEX credit or charge cards. They are also required to make a transaction of at least RM1 in order to be eligible for the cashback reward.

Meanwhile, qualifying transactions for this campaign refer to all online and offline retail spend (local and overseas). It excludes payments such as balance transfers, cash advances, as well as charity and government-related payments.

Each eligible cardmember is entitled to a maximum of five cashback rewards per month throughout the promotion period. So if you were to maximise the benefits of this campaign, you can technically earn RM20 worth of cashback during the whole promo period.

Of course, note that this is also subjected to the availability of Maybank’s budget allocation for the campaign. The bank has earmarked a budget of RM100,000 for each campaign month (a total of RM200,000 for the whole campaign), with all cashback rewards to be provided on a first-come first-served basis.

If you do win, the cashback reward will be credited into your card account within three business days after the qualifying transaction has been performed.

No registration is required to participate in this campaign. If you’re eligible for it, you’ll be automatically enrolled, and your transactions will be tracked for the promo.

(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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    Anonymous

    8 months ago

got 2 mbb cc can get rm20 cb right in monthly basis

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Standard Chartered Revises Airport Lounge Benefit For Priority Banking Visa Infinite, Visa Infinite Card

Standard Chartered is revising the complimentary airport lounge access benefit for two of its credit cards, namely the Standard Chartered Priority Banking Visa Infinite and the Standard Chartered Visa Infinite. The updates are set to take effect starting from 1 April 2023.

For the Standard Chartered Priority Banking Visa Infinite card, cardholders are currently entitled to unlimited complimentary access to airport lounges globally via LoungeKey, provided they maintain their Priority Banking membership with a minimum asset under management (AUM) of RM250,000. In the event that their membership end, or that they are unable to maintain the required AUM, the cardholder will then be limited to 2x complimentary access only.

Come 1 April, however, the minimum AUM requirement will be increased, so cardholders will soon need to maintain an AUM of RM3,000,000 instead to enjoy unlimited complimentary access to airport lounges. There is, however, a new additional perk introduced along with this increased requirement, allowing cardholders to bring along an accompanying guest for each visit. Meanwhile, if your AUM falls within the range of RM250,000 to RM2,999,999, you will be allowed 8x complimentary airport lounge access.

We’ve summarised this update to the Standard Chartered Priority Banking Visa Infinite card in the table below for better clarity:

Existing airport lounge access benefit
Revised airport lounge access benefit (1 April onwards)
– Unlimited complimentary access to airport lounges globally via LoungeKey with a minimum AUM of RM250,000
– 2x complimentary access to airport lounges globally via LoungeKey per year if you do not meet minimum AUM of RM250,000
– Unlimited complimentary access to airport lounges globally via LoungeKey, with an accompanying guest per visit, with minimum a AUM of RM3,000,000
– 8x complimentary access to airport lounges globally via LoungeKey per year if your AUM falls in the range of RM250,000 to RM2,999,999.

Take note as well that cardholders who do not meet the specified AUM requirement or who exceed their permitted number of complimentary airport lounge access will soon be required to pay US$29 for each individual and visit to the lounges, up from the current rate of US$27.

As for the Standard Chartered Visa Infinite credit card, the revision is more straightforward. Standard Chartered customers who hold this card will see their existing 2x complimentary access to airport lounges per year reduced to 1x access. A similar charge of US$29 per individual per visit will also be debited to the cardholder if they exceed their number of complimentary access permitted (also up from the current fee of US$27).

Aside from these changes, other features and benefits of both cards remain unchanged; cardholders will still be able to earn 1x and 5x 360° Rewards Points for every RM1 spent on eligible local and overseas transactions, respectively. Standard Chartered Priority Banking Visa Infinite cardholders will also continue to enjoy additional perks, including up to RM80 cashback on their limo ride expenses when returning from overseas travel.

The annual fees for both cards also still stand at RM800 (waived for the first two years for Standard Chartered Priority Banking Visa Infinite cardholders, and subsequently with minimum retail purchases of RM10,000 per annum). Note as well that while the
Standard Chartered Priority Banking Visa Infinite
 is still available for application, the Standard Chartered Visa Infinite has been discontinued, although existing cardholders are still able to use the card and enjoy its benefits.

(Source:
Standard Chartered
)

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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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    Anonymous

    6 months ago

Unlimited is for 3 mil above not 300k

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    Pang Tun Yau

    5 months ago

    Reply to

        Anonymous

Fixed! thank you for spotting the error.

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Shopee: E-Commerce Provides New Income Opportunities Amidst Economic Challenges

A recent survey carried out by e-commerce Shopee has revealed that e-commerce is providing new income opportunities for Malaysians amidst rising economic challenges. This comes as Shopee prepares for one of its biggest sale festivals of the year, the Shopee 11.11 Big Sale.

Conducted among 11,850 Malaysian sellers, Shopee’s survey found that e-commerce is creating opportunities for all aspiring entrepreneurs – irrespective of gender, geography, and age. Of the respondents surveyed, 5,406 of them are found to be new entrepreneurs who operated their businesses fully online. The survey also revealed the following about these new entrepreneurs:

72% of them are women entrepreneurs, offering mainly health and beauty products, women’s clothing, as well as fashion accessories. This group is able to generate an average of RM3,950 each month.

70.7% of them fall between the age bracket of 18 to 35, with one in three of them being Sijil Pelajaran Malaysia (SPM) certificate holders. This group dabbles with a variety of products – including children and Muslim fashion, groceries, and kids-related products – and can earn an average of RM6,000 each month.

13.3% of them are entrepreneurs from rural areas, coming from places as far as Pontian (Johor), Kuala Nerus (Terengganu), and Kabong (Sarawak). This group is driven primarily by younger women, and focuses on hometown specialties such as
keropok lekor, belacan,
and
kek lapis
. The average monthly income for these sellers stands at RM3,200.

On top of that, Shopee’s survey noted that 70% of its respondents have up to six dependents. As such, 35.4% of them have turned to e-commerce for another source of household income despite being fully employed individuals. On average, they are able to make about RM2,750 per month just by selling on Shopee.

Another finding to highlight in Shopee’s survey is the ripple effect that e-commerce has created in terms of increasing the employment rate among Malaysians. As many as 1,700 of survey respondents said that they employ full- and part-time employees to cope with the rising demand from their customers.

“The survey findings show that e-commerce provides equal opportunity for all to make a mark online. While e-commerce helps to better livelihoods, this also goes to show that e-commerce can play a larger role in shaping the modern workforce,” said the regional managing director of Shopee, Ian Ho.

With November just around the corner, Shopee is also gearing up to kickstart its 11.11 Big Sale – which is viewed as a major opportunity by many sellers. In fact, 66.7% of the survey respondents said that they are doubling their inventory for the event, whereas 70.2% anticipate at least 100% growth in sales. Some sellers are even projecting a five-fold increase during the sale festival.

Shopee’s 11.11 Big Sale will see the e-commerce platform offering various bargains and perks, such as Shocking Sale deals, daily free shipping with a minimum spend of RM11, as well as daily discount vouchers. Shopee is also focusing on creating shared experiences through entertainment, such as by airing the 11.11 Big Show on 11 November. Additionally, it will run its first regional charity drive, dubbed the 11.11 Big Charity, to uplift local communities.

You can find out more about Shopee’s upcoming
11.11 Big Sale
 on its website here.

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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TM Takes First Steps In Making Fast Internet Cheaper For Malaysians

TM today has announced its plans to address Communications and Multimedia Minister Gobind Singh Deo’s call to
make internet cheaper
 for everyone. In the coming weeks, TM will be announcing an “entry level Unifi” plan as well as “Unifi Turbo” plans that significantly increase the speeds of current Unifi plans.

At a briefing session held today, TM confirmed that it will be releasing a new, reasonably-priced Unifi broadband plan with a speed of 30Mbps – and will cost less than RM100 per month. However, this plan will only be made available to B40 households, which the Government defines as the “Bottom 40%” of households with monthly income of less than RM3900. More details will be revealed next week, before it opens pre-bookings for the plan.

On the other hand, TM also took the opportunity address its higher-end Unifi broadband plans. These so-called Unifi Turbo plans retain the current maximum monthly fee of RM199, but promises to “more than double” the bandwidth speed currently offered. It appears TM is serious about reclaiming its position as the nation’s premier internet service provider.

(Image: Lowyat.NET)

(Image: Amanz)

In a slide shown at the briefing, TM is claiming that these Unifi Turbo plans will not only be significantly cheaper from a “price per Mbps” perspective, but to offer that alongside significantly faster bandwidth speeds that reaches the level of regional leaders like Singapore.

The Unifi Turbo plans will be launched in August 2018, where the speed upgrade will first be given to existing Unifi customers. This speed upgrade will take place in stages, before the plan becomes available to new customers in 2019.

(Image: Amanz)

Finally, TM also has something for Streamyx customers, which are available to Malaysians who live in areas outside of Unifi’s fibre broadband service. Identifying them as “Pre-Unifi” customers, the company didn’t share much about its plans beyond a “special upgrade” that will also be ready on 15 July 2018. Considering the very expensive Streamyx subscription prices compared to Unifi, introducing new price tiers would definitely be welcome – currently, a 1Mbps Streamyx package costs RM110 – terrible value for money compared to the current Unifi 30Mbps that costs RM179.

In all, TM didn’t actually reveal that much information besides a launch date for its new plans at today’s briefing. The company even said that a press conference will take place on 12 July that shares everything about the upcoming plans, which essentially means today’s briefing was nothing more than a teaser of what’s to come. Let’s just hope the outcome isn’t the same as its huge “Bawang” hype, which turned out to be
nothing
 but a
Hari Raya ad
.

(Sources: Lowyat.NET
1

2
,
Amanz
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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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PRIHATIN Electricity Discounts And How They Help You

With the enforcement of the Movement Control Order (MCO) since 18 March, the vast majority of Malaysians have been spending most of their time at home. While this measure is crucial in breaking the COVID-19 infection chain, an inevitable side effect is the increased electricity usage across Malaysian homes.

Thankfully, as part of the
PRIHATIN Economic Stimulus Package announced by the Prime Minister
, Malaysians will get to enjoy discounts on their electricity bills to ease the financial burden of this increased usage. In fact, with these discounts you may find that your upcoming electricity bills are not only less than what you would have anticipated, they could even be lower than your usual amount!

Tiered and prorated discounts

All residential electricity users will be entitled to these discounts for a period of six months, covering electricity consumption starting from 1 April to 30 September 2020. If your billing cycle falls between two calendar months, the discounts will be prorated to cover power consumption during the valid dates only.

The bill discounts will be provided in tiers based on your electricity consumption – the lower your usage, the higher the percentage of discounts you’ll get to enjoy. See the table below for details.

Monthly electricity consumption

Billed amount before discount

Discount provided

1-200 kWh

RM43.60 and below

50%

201-300 kWh

RM43.70-RM77.00

25%

301-600 kWh

RM77.10-RM231.80

15%

600 kWh and above

RM231.90 and above

2%

How does TNB charge for electricity usage?

As a residential electricity user, your electricity consumption is charged in the following tariff blocks based on the monthly electricity usage stated on your bill.

First 200 kWh (1-200 kWh) per month

RM0.218 per kWh

Second – Next 100 kWh (201-300 kWh) per month

RM0.334 per kWh

Third – Next 300 kWh (301-600 kWh) per month

RM0.516 per kWh

Fourth – Next 300 kWh (601-900 kWh) per month

RM0.546 per kWh

Next kWh (901 kWh onwards) per month

RM0.571 per kWh

Additionally, your bill will also include a KWTBB surcharge and a service tax if your monthly consumption exceeds certain amounts.

KWTBB, which stands for Kumpulan Wang Tenaga Boleh Baharu or the Renewable Energy Fund, is a fund collected by the government through consumers’ electricity consumption to promote the growth of electricity generation from renewable energy resources. It is collected as a 1.6% surcharge on the overall amount of your electricity bill if your monthly consumption is more than 300 kWh.

The service tax, on the other hand, is a 6% government tax imposed only on usage blocks of above 600 kWh within a month’s bill where the billing period is 28 days and above.

This sample TNB bill gives a better idea of where you can find all of the charges mentioned above.

KWTBB surcharge

= RM (kWh + Diskaun Rangsangan Ekonomi) x 1.6%

= (RM309.88 – RM1.40) x 1.6%

= RM4.94

Service tax

= (Amount of bill above 600 kWh + Diskaun Rangsangan Ekonomi) x 6%

= (RM78.08 – RM0.35) x 6%

= RM4.66

Here are some scenarios to illustrate how the discounts work on different levels of monthly electricity consumption.

If your monthly electricity usage is below 200 kWh

Sample bill details and calculation

Billing period: 8 March to 7 April (31 days)

Monthly electricity usage: 186 kWh

Daily usage: 186 kWh/31 days = 6 kWh

For prorated consumption from 8 to 31 March 2020 (24 days)
:

Total usage

24 days x 6 kWh = 144kWh

Total usage charges

144 kWh x RM0.218 = RM31.39

For prorated consumption from 1 to 7 April 2020 (7 days)
:

Total usage

7 days x 6 kWh = 42kWh

Total usage charges

42 kWh x RM0.218 = RM9.16

Total usage charges after 50% discount

RM9.16 – 50% (RM4.58) = RM4.58

Total bill charges for consumption from 8 March to 7 April 2020 with 50% discount: RM31.39 + RM4.58 = RM35.97

If your monthly electricity usage is between 201 to 300 kWh

Sample bill details and calculation

Billing period: 8 March to 7 April (31 days)

Monthly electricity usage: 278 kWh

Daily usage: 278 kWh/31 days = 8.97 kWh

For prorated consumption from 8 to 31 March 2020 (24 days)
:

Total usage

24 days x 8.97 kWh = 215 kWH

Usage of the first 200 kWh

24/31 days x 200 kWh = 155 kWh

Usage charges on the first 200 kWh

155 kWh x RM0.218 = RM33.79

Remaining usage

215 kWh – 155 kWh = 60 kWh

Usage charges on the remaining usage

60 kWh x RM0.334 = RM20.04

Total usage charges

RM33.79 + RM20.04 = RM53.83

For prorated consumption from 1 to 7 April 2020 (7 days)
:

Total usage

7 days x 8.97 kWh = 63 kWH

Usage of the first 200 kWh

7/31 days x 200 kWh = 45 kWh

Usage charges on the first 200 kWh

45 kWh x RM0.218 = RM9.81

Remaining usage

63 kWh – 45 kWh = 18 kWh

Usage charges on the remaining usage

18 kWh x RM0.334 = RM6.01

Total usage charges

RM9.81 + RM6.01 = RM15.82

Total usage charges after 25% discount

RM15.82 – 25% (RM3.96) = RM11.86

Total bill charges for consumption from 8 March to 7 April 2020 with 25% discount: RM53.83 + RM11.86 = RM65.69

If your monthly electricity usage is between 301 to 600 kWh

Sample bill details and calculation

Billing period: 8 March to 7 April (31 days)

Monthly electricity usage: 425 kWh

Daily usage: 425 kWh/31 days = 13.7 kWh

For prorated consumption from 8 to 31 March 2020 (24 days)
:

Total usage

24 days x 13.7 kWh = 329 kWH

Usage of the first 200 kWh

24/31 days x 200 kWh = 155 kWh

Usage charges on the first 200 kWh

155 kWh x RM0.218 = RM33.79

Usage of the second 100 kWh

24/31 days x 100 kWh = 77 kWh

Usage charges on the second 100 kWh

77 kWh x RM0.334 = RM25.72

Remaining usage

329 kWh – 155 kWh – 77 kWh = 97 kWh

Usage charges on the remaining usage

97 kWh x RM0.516 = RM50.05

Total usage charges

RM33.79 + RM25.72 + RM50.05 = RM109.56

For prorated consumption from 1 to 7 April 2020 (7 days)
:

Total usage

7 days x 13.7 kWh = 96 kWH

Usage of the first 200 kWh

7/31 days x 200 kWh = 45 kWh

Usage charges on the first 200 kWh

45 kWh x RM0.218 = RM9.81

Usage of the second 100 kWh

7/31 days x 100 kWh = 23 kWh

Usage charges on the second 100 kWh

23 kWh x RM0.334 = RM7.68

Remaining usage

96 kWh – 45 kWh – 23 kWh = 28 kWh

Usage charges on the remaining usage

28 kWh x RM0.516 = RM14.45

Total usage charges

RM9.81 + RM7.68 + RM14.45 = RM31.94

Total usage charges after 15% discount

RM31.94 – 15% (RM4.79) = RM27.15

KWTBB surcharge:

(RM109.56 + RM27.15) x 1.6% = RM2.19

Total bill charges for consumption from 8 March to 7 April 2020 with 15% discount: RM109.56 + RM27.15 + RM2.19 = RM138.90

If your monthly electricity usage is more than 600 kWh

Sample bill details and calculation

Billing period: 8 March to 7 April (31 days)

Monthly electricity usage: 630 kWh

Daily usage: 630 kWh/31 days = 20.32 kWh

For prorated consumption from 8 to 31 March 2020 (24 days)
:

Total usage

24 days x 20.32 kWh = 488 kWH

Usage of the first 200 kWh

24/31 days x 200 kWh = 155 kWh

Usage charges on the first 200 kWh

155 kWh x RM0.218 = RM33.79

Usage of the second 100 kWh

24/31 days x 100 kWh = 77 kWh

Usage charges on the second 100 kWh

77 kWh x RM0.334 = RM25.72

Usage of the third 300 kWh

24/31 days x 300 kWh = 232 kWh

Usage charges on the third 300 kWh

232 kWh x RM0.516 = RM119.71

Remaining usage

488 kWh – 155 kWh – 77 kWh – 232 kWh = 24 kWh

Usage charges on the remaining usage

24 kWh x RM0.546 = RM13.10

Total usage charges

RM33.79 + RM25.72 + RM119.71 + RM13.10 = RM192.32

Taxable amount for service tax

RM13.10

For prorated consumption from 1 to 7 April 2020 (7 days)
:

Total usage

7 days x 20.32 kWh = 142 kWH

Usage of the first 200 kWh

7/31 days x 200 kWh = 45 kWh

Usage charges on the first 200 kWh

45 kWh x RM0.218 = RM9.81

Usage of the second 100 kWh

7/31 days x 100 kWh = 23 kWh

Usage charges on the second 100 kWh

23 kWh x RM0.334 = RM7.68

Usage of the third 300 kWh

7/31 days x 300 kWh = 68 kWh

Usage charges on the third 300 kWh

68 kWh x RM0.516 = RM35.09

Remaining usage

142 kWh – 45 kWh – 23 kWh – 68 kWh = 6 kWh

Usage charges on the remaining usage

6 kWh x RM0.546 = RM3.28

Total usage charges

RM9.81 + RM7.68 + RM35.09 + RM3.28 = RM55.86

Total usage charges after 2% discount

RM55.86 – 2% (RM1.12) = RM54.74

Taxable amount for service tax

RM3.28

Taxable amount for service tax after 2% discount

RM3.28 – 2% (RM0.07) = RM3.21

Total taxable amount for service tax:

RM13.10 + RM3.21 = RM16.31

Service tax:

RM16.31 x 6% = RM0.98

KWTBB surcharge:

(RM192.32 + RM54.74) x 1.6% = RM3.95

Total bill charges for consumption from 8 March to 7 April 2020 with 2% discount: RM192.32 + RM54.74 + RM0.98 + RM3.95 = RM251.99

Some welcome relief during a challenging period

The COVID-19 pandemic has brought about economic repercussions on a global scale, and many Malaysians’ livelihoods have been adversely affected by it. The electricity bill discounts provided for consumption from
1 April to 30 September 2020
 under the PRIHATIN Economic Stimulus package will help us all to lighten our financial burden as we weather the challenging months ahead.

Finally, another thing to be aware of is that throughout the entire MCO period,
TNB will be pausing all meter readings
 and hence your bills and discounts will be estimated based on your previous month’s usage. Rest assured that TNB will recalculate your electricity consumption and make the necessary bill adjustments once the MCO is lifted and they are able to record accurate bill readings again.

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How to Save on Your Car Maintenance Fees

Owning a car is undoubtedly convenient but the cost of ownership is a whole other story. In fact, repeated maintenance and servicing alone can be a heavy financial burden to bear. So how can you save?

One way is through deciding where you service your car – at the dealer or with an independent mechanic? We’ll bring you a little food for thought to help you decide. Sounds good? Let’s get to it!

First Things First: Are You Still Under Warranty?

If you are, it makes sense to go with your dealer, especially if the car is brand new and you are still enjoying free services or discounts on workmanship.

But some time into the
warranty period
, you may notice your servicing bill getting heavier as the free stuff runs out and you are paying for everything (except the parts that are under warranty).

Once your costs start getting heavy, it’s time to consider having your car worked on by an independent workshop. Before that, the best thing to do is to compare prices, as you would most everything else.

To do this, get your car inspected by a recommended independent mechanic and ask him to quote for a service at its specific mileage range.

Tell them what parts are covered under your warranty, and to advise if it needs changing. To know which parts are still covered, read through your service booklet and car manual or call your service advisor.

Making the Comparison

Once you’ve receive a quote from the independent workshop, measure it against the scheduled maintenance costs estimated by your dealer’s service centre.

If the price varies significantly, you should consider going with the cheaper option of servicing with the mechanic unless a part under warranty needs changing.

On average, the dealer is likely to cost more while the independent will cost less. The risk with going to a regular mechanic is that you might have to cover the cost of replacements in the future, so do consider carefully.

Saving Either Way

We’ve found that you can still save whether you prefer to service at the dealer or with an independent workshop. Follow these quick tips to conserve your finances when maintaining your precious vehicles.

If you do not want to void your warranty and instead choose to
service at the dealer
, try to:

Maximise the time in between services for cars with normal usage. Generally, extending by two months or 2,000 km whichever comes first (depending on your dealer’s stipulations) will not void your warranty.

Follow your car manual’s manufacturer recommendations for each mileage stage to avoid unnecessary services being performed.

On the other hand, if you choose to service with an
independent mechanic
, remember to:

Find a specialist for your car’s make and model so the workshop is equipped to handle its special features and reduce the chances of a botched job. Try
Carama
 to locate the right workshop within your area according to make as well as read reviews from other customers.

To save a little bit more, you can buy parts that need replacing online. Get advice from your mechanic on the right brand and other necessary specifications before making the purchase.

From monthly instalment payments, fuel, taxes, insurance, cleaning and maintenance – you can end up with pretty whopping expenses if you don’t find ways to save at each level.

With our comparison tool, we can help you find the most attractive
car loan rates
 and
insurance premiums
 to keep your auto costs at a minimum!

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Stock Up And Save On Unilever Household Supplies Tonight And Do Your Bit For Charity

Come midnight, Lazada will be hosting
Unilever’s Super Brand Day
, offering its entire library of products from home cleaning to foodstuff at good discounts – and offering promo codes to further slash the price. Unilever has also teamed up with The Lost Food Project to run a charity campaign in conjunction with the sale, allowing you to donate care and hygiene packages to kids in need just by purchasing your household essentials.

Unilever’s “Crazy Brand Mega Offer”, which will run only between midnight to 2am tonight will have three attractive promo codes:

Interestingly, you can not only use this code in
Unilever’s flagship store on Lazada
, but also on Unilever products listed in
Lazada’s Grocery Store
.

Aside from the discounted prices and promo codes, the Super Brand Day sale will also reward customers with free gifts when you purchase selected items during these two hours. For instance, you can get Comfort concentrated fabric conditioners (800ml) for free when you purchase
Breeze liquid detergents or Comfort products
. You can also get free
Vaseline body lotions
 with various Lifebuoy products, and bundle deals that will stretch your Ringgit even more.

Unilever also owns several food and beverage brands, such as Lipton, Knorr, and Lady’s Choice. These brands and more are also part of the Super Brand Day, so you can stock up on the classic
Lipton Yellow Label tea bags
 or
Lady’s Choice peanut butter
.

Don’t forget to collect additional platform vouchers from TNG eWallet and Public Bank to save even further. Finally, get even more savings by checking out with the right cashback
credit cards
!

In addition to saving, Unilever’s Super Brand Day is also a great opportunity for you to rack up some good deeds as you shop. Through Unilever’s partnership with The Lost Food Project via the
#Buy1Give1MY campaign
, a care and hygiene package will be donated to underprivileged Malaysian kids when you purchase any Unilever product from
Unilever’s flagship store
 or the
Grocery Store on Lazada
 during 11 June.

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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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Government To Study E-Commerce Definition For Possible Exemption Under SST

(Image: Roket Ini)

Online businesses may soon receive exemptions from the Sales and Service Tax (SST). Finance Minister Lim Guan Eng said the government is currently studying the definition of e-commerce for the possibility of tax exemptions for supporting the growth of the country’s digital economy.

“We have to see the definition of online business. If you look at information technology (IT) services for example – it should face a 6% service tax but we decided to give a leeway.

“For instance, cloud service providers — under IT services — they will be charged 6% but because it is a cloud service provider [and] rides on the server of telecommunication providers, we don’t impose the tax at the business-to-business level to avoid multiple taxation,” he told reporters at a recent SST briefing.

He said that the government will give exemptions to the sector it intends to support but there will be no full exemptions for IT services due to its wide definition. He added an online business must be IT related and it must contribute to the country’s online economy in order to be qualified for an exemption.

While the possible tax exemption under the SST regime is welcome news to online businesses, this exemption is not a permanent fixture. The finance minister has stated the SST’s taxable and exemption list is a living list, which means it will change according when necessary. Guan Eng added the government will continue to engage with people and businesses to encourage impartiality and economic growth.

(Source:
The Edge
)

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