Applied For A Credit Card? Here's Where Your Gift Is Right Now

Whether you’ve applied for a credit card through our Unbox This Week campaign or submitted your personal loan application through our WhatsApp, you may have some questions that you’d like answered.

Below, we’ve listed the most frequently asked questions by our customers. If you still have concerns you’d like to address, please email us at
[email protected]
.

When will my credit card or personal loan application be approved?

Once you have applied for a credit card or personal loan, you will receive a Welcome email that includes further instructions to complete your application with the respective bank.*

Our Bank partners will then send us a list of approved applications that have successfully met all the gift redemption requirements.**

This process can take
up to

60 days
 from the submission of the application.

*The process for each product may vary depending on the Bank.

**Refer to the campaign Terms & Conditions for information on gift eligibility.

I applied for a credit card/personal loan on RinggitPlus. How can I check my application status?

The bank reviews the application status for every credit card/personal loan. RinggitPlus is not involved in this process. You may call the respective Bank to check your application status.

If you have already received your credit card/personal loan from the bank and are enquiring about the reward redemption, email us at
[email protected]
.

I applied for a credit card two months ago and I’ve received my credit card but I’m still waiting for my reward. What should I do?

It usually takes an average of 60 days from the date of approval by the bank or completion of the RinggitPlus Rewards Redemption Form (sent to you via the registered email address), whichever is later, before you receive an email with details for the Rewards Redemption.

Have you completed the RinggitPlus Rewards Redemption Form or having any difficulties completing the form? If you have either, email us at
[email protected]
 so we can assist with the reward redemption process.

How does the gift redemption process work?

Our 3-Step Gift Redemption Process will start right after the Bank approves your credit card or personal loan application. This process may take
up to 30 days
 to complete.

Step 1 – Check your email for the gift redemption code

We will send you an email with a dedicated gift redemption code that you can use to redeem your gift.

If you have been approved and have not received your gift redemption code, email us at
[email protected]
.

Step 2 – Claim your gift!

Complete your gift redemption by filling out this
form
 using the redemption code provided.

Once we have received your completed form, our fulfilment team will proceed to process your redemption and arrange for delivery.

Step 3 – Get your gift delivered to your doorstep

Physical gifts will be shipped to the customer within 28 working days. We will also provide an email with shipping details and tracking information.

If you do not receive your physical gift after 28 working days, email us at
[email protected]
.

*For e-voucher and DuitNow, you may receive your voucher code/cash banked into your DuitNow email account 60 days after the respective Bank verifies that you meet the criteria of the campaign.

What is the average waiting period before I receive my Reward?

You will receive an email with details of the Reward Redemption within 2 calendar months from the date of meeting your eligibility criteria.

If you did not receive your Reward Redemption email within this period, you can contact us at
[email protected]
 and we will assist you.

What can I do to help speed up the gift redemption process?

You can email us at
[email protected]
 with the following information:

Name:

Card approval date:

Card activation date:

Spend clause meet date:

How does RinggitPlus assist me in the gift redemption process?

We work with all our Bank partners to ensure the process is as smooth as possible. We understand that you may still have some questions. Rest assured that you can expect a reply from us in 2 working days.

What is a unique ID? Why is it important?

The unique ID is a critical part of the Rewards Redemption Process. It identifies the applicant as well as the specific product applied. RinggitPlus will use this reference number to verify the applicant’s eligibility for the Reward. An incorrect or incomplete application reference number may result in a longer processing time for your Rewards redemption. The unique ID can be obtained from the gift redemption email we provide.

You can also contact
[email protected]
 to obtain the unique ID.

Where can I retrieve my application reference number?

There are two ways to retrieve your application reference number:

The unique ID is provided to you when you receive your reward redemption email. That same email also provides a step-by-step on how to claim your reward!

Contact RinggitPlus at
[email protected]
 to obtain the unique ID.

I can’t remember if I’ve completed my Rewards Redemption Form. What should I do?

Retrieve your Rewards Redemption email (it may be in your spam inbox), click on the link in the email and you’ll be redirected to the Rewards Redemption form. If you have completed it, you will see a message that says “You have already submitted the Rewards Redemption form.”

If you would like confirmation on your Rewards Redemption submission, feel free to contact us at
[email protected]
.

How can I check if I have completed the Rewards Registration Form?

After completing the RinggitPlus Rewards Redemption Form, you will receive an acknowledgement email within 3 working days. You can also write to
[email protected]
 to check if your Rewards Redemption Form was successfully completed.

I have completed my Rewards Redemption Form. When will I receive my Reward?

Our ETA for Rewards delivery is 21 working days. However, this is subject to the availability of the gifts. If it has been more than 28 working days since you

To claim your gift, please contact us at
[email protected]
 and we will be more than happy to assist.

How do I modify my delivery address when I’ve already completed the Rewards Redemption Form?

If the item has not been shipped yet, please contact us at
[email protected]
 so we can assist you as soon as possible.

How can I get in touch with the RinggitPlus team?

You can email us at
[email protected]
 and provide us with the following information:

Name

Email

Mobile No.

Don’t forget to tell us the reason for your inquiry too!

Can I apply for more than one card from different banks?

Yes, you can. But do note that the Reward offered may differ based on the respective bank’s criteria and their ongoing promotion. Please also note that for you to be eligible for the gift, you must be a new applicant for that respective bank.

Please read the Terms & Conditions before application, as promotions are subject to change.

What is considered retail spending?

Retail spending includes local and overseas retail transactions (including online transactions), and standing instructions/auto-billing.

What do you mean by cashback?

Cashback is fulfilled directly by the respective bank in the form of credit into the customer’s eligible card account. The cashback can be used to offset future purchases.

Please note that the fulfilment period varies by bank and the banks have the final discretion on the fulfilment of cashback.

What is the RinggitPlus cash reward?

The RinggitPlus cash reward is fulfilled by RinggitPlus and will be given to the eligible applicant in the form of cash. The transfer will be done via DuitNow within 28 working days of receiving the approval list from the bank.

What is DuitNow?

DuitNow is a service that RinggitPlus uses to transfer funds to you if you are eligible for a cash reward. For more information on DuitNow, you can
click here
.

Does my gift come with a warranty?

Yes, it does! Unless it’s stated specifically in our Terms & Conditions or the product does not come with a warranty, all of our gifts come with a warranty from the supplier.

Can I change my gift?

Unfortunately, we are not able to change the gift. The gifts are fixed based on the campaign period that was advertised during your application.

Can I change the colour or the model of the Reward?

The colour of the gift is selected at random unless stated otherwise in the Terms & Conditions, so we are unable to change the colour for you. The model of the Reward is also fixed as per our Terms & Conditions.

Is this particular promotion or reward from Bank X still available?

Our Unbox This Week campaign is updated each week with current flash deals. To see what is currently up for grabs,
click here
.

Why wasn’t I selected as a winner for Unbox This Week’s flash deals?

There may be many possibilities as to why that is, like not reaching the minimum spending requirement or exceeding the campaign period. However, you can still be eligible for our secondary gift if you meet the eligibility criteria.

The winners are selected based on the particulars flash deals mechanics and we will announce the full list of winners
here
.

If you are still interested in our gifts, do keep your eyes peeled for our future promotions
here
!

Does RinggitPlus collect any of my data during the application process?

RinggitPlus collects your name, email address, the product you applied for, your application reference number, and your application date. We will use this data to match with the list of successful applications approved by the bank that is eligible for the Reward.

Except for Citibank applications, with whom we have developed a secure and integrated application platform, RinggitPlus does not collect any other customer data that is provided during the online application. That data is kept secure by the relevant bank you’re applying the product from.

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RHB’s E-Wallet Top-Up Campaign Returns, Offers Up To RM1,200 Cashback In 3 Months

RHB Bank has brought back its e-wallet top-up campaign for yet another round, this time even more rewarding than before. Ongoing until 31 December 2021, eligible credit cardholders will be able to win up to 12% cashback when they top up a specified amount on selected e-wallets using their RHB credit card, up to RM1,200 throughout the whole promo period.

Open to all RHB credit card/-i cardholders, the cashback reward offered is once again tiered according to the amount of e-wallet credit that you reload during each transaction:

Tier
Requirement
Cashback reward
Cap
Tier 1
Minimum RM200 top-up in a single transaction
5% cashback
RM10
Tier 2
Minimum RM500 top-up in a single transaction
10% cashback
RM50
Tier 3
Minimum RM1,000 top-up in a single transaction
12% cashback
RM120

You can perform your top-ups with any of the following e-wallets to qualify for the campaign:

BigPay
Boost
GrabPay
KiplePay
Lazada Wallet
PayPal
Setel Wallet
ShopeePay
Touch ‘n Go (TNG) eWallet

Aside from that, RHB has also enhanced this campaign with something called Special Days – selected days where cardholders are given extra opportunities to win cashback.

Following this update, eligible cardholders will still be able to earn up to two cashback rewards per month when they perform their e-wallet reloads on non-Special Days, but on top of that, they’ll also get another two additional chances to win cashback on every Special Day. RHB has listed four Special Days, namely 11 November, 12 December, as well as 24 and 25 December 2021.

That said, note that each cardholder can only win up to 10 cashback rewards throughout the whole campaign period, capped at a maximum of RM1,200. Also, the rewards will be provided on a first-come first-served basis, with RHB earmarking a total of RM244,400 for the whole campaign (RM206,800 for non-Special Day cashback, RM37,600 for Special Days).

(Image: The Borneo Post)

Winners will receive the cashback reward won one week after the end of each campaign month, to be credited into their account. The amount will also be reflected in their statements.

The previous version of this
E-Wallet Top Up campaign (Phase Two)
 took place between July until September 2021, allowing the bank’s cardholders to earn up to 15% cashback for their e-wallet reload transactions. The maximum total cashback that could be won per cardholder throughout the entire campaign was, however, locked at a lower amount of RM720.

(Source:
RHB Bank
)

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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Experts: More Effective Mechanism Needed To Address Increasing Food Prices, Food Shortages

(Image: The Malaysian Reserve/Muhd Amin Naharul)

Several experts have urged the government to devise a more effective mechanism to address the increasing food prices and other shortages that are happening within the country. The prices of food and various essential items have reportedly soared by 60%, while certain food items are in short supply – impacting not only the B40 group, but also the middle-income group.

Economic analyst at the Putra Business School, Dr Ahmed Razman Abdul Latiff warned that the government must draw up short-, medium-, and long-term measures to tackle the food crisis, or the situation may become more critical. He pointed out that while recent initiatives – such as abolishing the approved permits (APs) for food imports, and suspending chicken exports – will help to manage the issue, they are only short-term measures.

“The government should quickly work on implementing medium-term and long-term measures… it can, for example, implement all the action plans outlined in the National Agrofood Policy 2.0 as soon as possible,” Dr Ahmed Razman commented, adding that the government should also fully monitor the food supply chain to prevent any parties from taking advantage of the situation.

(Image: Facebook/Ahmed Razman Abdul Latiff)

In addition, Dr Ahmed Razman urged the government to re-evaluate the proposed implementation of targeted subsidies, as there is no guarantee that the move can help to keep food prices low. He explained that food prices will continue to climb as the higher-income group will still have to pay the market prices for the goods.

“The government may not be able to cover the cost of providing the subsidies because this year’s total subsidies are expected to increase to RM28 billion, which is higher than the total annual collection from the sales and service tax (SST),” Dr Ahmed Razman further commented.

Similarly, the dean of the Faculty of Human Ecology at Universiti Putra Malaysia, Prof Dr Mohamad Fazli Sabri also said that the government must come up with a comprehensive mechanism to deal with the rising food prices and low food supplies.

(Image: Harian Metro)

“Before this, many people were affected by the Covid-19 pandemic as the economic sector couldn’t operate fully for over two years. Now that it has reopened fully, various issues have emerged, including the hike in food prices,” Dr Mohamad Fazli stated, adding that the issues may lead to more people from the M40 group slipping into the B40 group.

To note, the Household Income Estimates and Incidence of Poverty Report Malaysia for 2020 revealed that 12.8% of the T20 income group and 20% of the M40 income group had skidded to a lower group.

Meanwhile, a lecturer from the Faculty of Business, Economics and Social Development at Universiti Malaysia Terengganu, Associate Prof Dr Roshaiza Taha also urged relevant bodies to work on strategies to reduce the country’s reliance on food imports. These bodies include the Federal Agricultural Marketing Authority (FAMA), Malaysian Agricultural Research and Development Institute (MARDI), Department of Agriculture, and Department of Fisheries.

(Image: The Star/Lim Beng Tatt)

“I believe these agencies have been given huge allocations to do research on sustainable food resources. It’s time for the government to evaluate the findings of their studies, especially research related to food resources,” Prof Dr Roshaiza further said.

Finally, Prof Dr Roshaiza remarked that the government should also review any unnecessary development projects, and give priority to the food industry to ensure sufficient food supplies. This is as the current situation may have forced some B40 families to ration food, and other households to sacrifice certain food items – which should not be happening in this country.

(Source:
Malay Mail
)

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Nur Adilah Ramli

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Should You Move Closer to Your Workplace to Avoid Traffic Jams?

Traffic jams are the worst, aren’t they? It would be so much easier on everyone if we all just moved closer to our workplace. But does it really make sense to do so? If you’re already thinking about moving closer to your office but not quite sure if it’s the right thing to do, here are some important questions you should ask yourself first.

Will You Really Save Time?

Moving closer to your office automatically means you’ll end up spending less time on the road and getting to work earlier right? Not necessarily. Physical distance isn’t the only factor that contributes to the duration of your commute. It also depends on how many other motorists are on the road going the same direction as you. Roads that look clear on weekends might be equally nightmarish during peak hours and moving closer may not solve that problem.

To avoid this, we recommend either using Google Maps’ time tracking feature to estimate how bad the traffic will be during your work hours. Another way is to take a weekday off and drive yourself to the office from your potential new address and see if it really cuts down on your driving time.

Will You Really Save Money?

A shorter distance and faster commute can still be a bad thing if it ends up costing you more. Toll prices, parking, rent, and utilities should always be considered when you move anywhere new of course. Doubly so when the original intention is to make it easier to do you work.

Pay special attention to how far away essential facilities are like grocery stores, clinics, or banks. If they end up being far away from your new place, you may have to pay more in petrol when running your weekly errands. Which might offset whatever savings on time that you’ve made with your move.

Will You Keep the Job For Long?

Unless you own the company, it’s never the best idea to assume you’ll always keep the job you have. If you’ve only recently started the position and are not sure yet how the workplace will treat you, it’s best to hold off on that move for now. Wait until you’re sure that the firm you’re working for offers you what you need as far as compensation, career growth, and benefits. Once you’re sure to stick with the company, you can consider moving closer to your base of operations.

Read Also:
Other Perks to Look For in a Job Beyond Salary

If you’re one to keep your options open, your move should mean more opportunity for other available positions in your industry. If you’re in academia for example, moving closer to a college town won’t be a problem even if you end up leaving your institution. You can always move to a new one nearby.

Will it Improve Things That Don’t Relate to Work?

Just because your move would improve how you feel about your job, doesn’t mean you shouldn’t think about all the other effects of moving. Relocating means the hassle of updating your billing address, having to join a new community, leaving your old neighbours, maybe even abandoning all your old hobbies.

Consider how these changes might negatively affect your day-to-day outside of work. Maybe your neighbourhood is full of people with incompatible lifestyles, perhaps all your favourite hangout spots are now too far away, or maybe the nearby shops are too expensive. When shopping around for your new place, it’s always good to get a feel for these things to really know whether or not they will affect you in a good or bad way.

Ready to Move?

While there’s always something to complain about no matter where you live, moving closer to your place of work might be one of the most important moves you can make. You save on petrol, traffic time, and you end up feeling better at work. All things worth relocating for. Now that you know what to ask yourselves before you make that move, all you need is a home loan and you’re all set. You can find the
best home loans in Malaysia via our comparisons page
 right here on RinggitPlus.

Do you have anything to add to this article? Do share your thoughts and ideas with us in the comments section down below!

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Ahmad Mudhakkir

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Lenovo Unveils Yoga Slim 7i Carbon Laptop, Weighs Just 966g

Lenovo has just revealed its latest addition to the Yoga family, an ultra-light device that weighs under 1kg at just 966g. According to Lenovo, the Yoga Slim 7i Carbon laptop’s featherlight weight and sleek 14.25mm-profile is designed for those who are always on the go, from business leaders and entrepreneurs to millennials alike.

In addition to its convenience and portability, the 13.3-inch Yoga Slim 7i boasts a military-grade standard for durability. Beneath its new carbon-fibre cover, the Yoga Slim 7i has been subjected to Lenovo’s famed strict in-house reliability test and meets nine military-grade tests for durability, fulfilling MIL-STD-810G standards. As a result, the Yoga Slim 7i can be expected to withstand a variety of knocks and bumps, with a dust-resistant, extreme temperature resistant, and drop-tested structure to boot – a feat previously reserved only for its ThinkPad range.

Battery life is also a major strength of the Yoga Slim 7i Carbon, paired together with fast charging capabilities. The device’s 50Wh battery is promised to power users through 15 hours of video playback, or up to 13 hours of all-day office productivity. Meanwhile, the Rapid Charge Boost feature has Lenovo assuring that 15 minutes of charging will provide two hours of use on the Yoga Slim 7i Carbon.

The device is powered by the latest 11
th
 Generation Intel Core processors, coupled with accelerated graphics performance with Intel Iris Xe graphics. It offers two Thunderbolt 4 ports for speedy transfers and charging, and comes with other specs that you would expect from a premium laptop currently: WiFi 6, AI-powered attention-sensing software, Amazon Alexa, and Lenovo’s Thermal System 4.0.

The Lenovo Yoga Slim 7i Carbon will be made available in Malaysia at a starting price of RM4,399, although the official release date has yet to be confirmed. It is advertised to be available in a single colour, Moon White – another unique first in Lenovo’s lineup.

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Jacie Tan

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Instapay Partners With Mastercard To Launch An E-Wallet For Migrant Workers

Instapay Technologies has partnered with Mastercard to launch its own e-wallet that comes with a linked Mastercard prepaid card and remittance services for the migrant worker community in Malaysia.

According to Instapay, the e-wallet is designed to help businesses that employ blue-collar workers digitalise their payroll management process. Employers will be able to benefit from better security, convenience, and efficiency as they can pay salaries to their foreign workers digitally through the e-wallet instead of in cash.

More importantly, Instapay also promotes financial inclusion for the unbanked migrant worker segment. With the e-wallet now partnering Mastercard, its users can access a global network of merchants and ATMs. This means that migrant workers who were previously unable to open a bank account are now able to conveniently pay for their purchases at Mastercard merchants and make cash withdrawals with Instapay.

The e-wallet also comes equipped with several services to meet the workers’ other financial needs. These include international remittance, P2P transfers, mobile top-ups, and cashless/QR payments for retail and online purchases.

“Technology has the ability to dramatically reduce the cost of remittance, and at Instapay, we want to make it easier for people to manage their money – whether it’s sending money to friends or loved ones, or making payments using the Instapay Mastercard; all without incurring high costs or large transaction fees that often low-income segments face,” said the co-founder and chief executive officer of Instapay Technologies, Rajnish Kumar.

For instance, money withdrawals from ATMs using Instapay costs RM1, whereas fund transfers from the user’s Instapay account to their own bank accounts are free. Note that there is also a joining fee of RM10 and an annual fee of RM8 for those who want to make use of the Mastercard prepaid card service.

The vice president of market development of Mastercard (Malaysia), Devesh Kuwadekar, further added that the payment service provider sees great potential in Instapay’s capability to address the needs of foreign migrant workers in Malaysia. “Solutions such as Instapay Mastercard represents one of the avenues to support workers adoption of digital payments in today’s fast-evolving economy,” he said.

Instapay is currently available only in Malaysia, but it supports 9 languages to cater to the diverse migrant worker community, such as Tamil, Thai, Burmese, Vietnamese, and Nepali. The e-wallet is also regulated by Bank Negara Malaysia (BNM), and hopes to achieve 100,000 users in the first year of its launch.

Individual users can download the Instapay app on
Google Play
 and the
App Store
 while businesses need to register to open Instapay accounts for their employees. You can find out more about
Instapay
 on its website.

(Source:
Business Today
,
FintechNews Malaysia
)

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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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    Chuda Raj Rai

    2 years ago

Can I use it in Nepal?

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    Pang Tun Yau

    2 years ago

    Reply to

        Chuda Raj Rai

I don’t think you can use this service in Nepal itself, but you can use it to remit money there from Malaysia.

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Bank Negara Slashes OPR For Fourth Time In 2020, Now At 1.75%

Bank Negara Malaysia (BNM) has reduced the overnight policy rate (OPR) by 25 basis points to 1.75%. The ceiling and floor rates of the corridor of the OPR are lowered to 2.0% and 1.5% respectively.

This is the fourth time the central bank of Malaysia has lowered the OPR this year, following a
50-basis point slash in May
, a
25-basis point cut in March
, and the first cut from
3.0% to 2.75% earlier in January
.

In its statement released today, BNM said that the impact of Covid-19 on the global economy is severe, with economic activity in Malaysia contracting sharply in the second quarter of the year. Following the gradual re-opening of the nation’s economy since early May, economic activities have begun to recover, supported by fiscal stimulus packages and monetary and financial measures. However, the pace and strength of the recovery remain subject to downside risks from both domestic and external factors.

“The reduction in the OPR provides additional policy stimulus to accelerate the pace of economic recovery,” Bank Negara said. “The MPC (Monetary Policy Committee) will continue to assess evolving conditions and their implications on the overall outlook for inflation and domestic growth. The Bank will continue to utilise its policy levers as appropriate to create enabling conditions for a sustainable economic recovery.”

(Source:
Bank Negara Malaysia
)

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    Sun Swee Ching

    3 years ago

But how does this translate into reality in our daily lives ? What s is stated is all financial jargon

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Have Some Free Secret Recipe, It’s On Hong Leong Bank

FREE CAKE!!!

Now that we’ve got your attention, Hong Leong credit card and debit cardholders who find themselves dining at Secret Recipe can look forward to a free slice of cake after their meal.

All you need to do is spend a minimum of RM38 in a single a la-carte dine-in receipt at any Secret Recipe outlet in Malaysia (except KLIA). Premium cakes are not applicable for this offer. Offer is exempted from other promotions and discounts.

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Brendon Lee

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Superhero Themed Cards Are The Cards We Deserve, And Clearly What We Need Right Now

As Marvel’s epic blockbuster, “Avengers: Endgame” continues to shatter records at every possible milestone, humans everywhere are dusting off their Captain America shield design or Iron Man arc reactor t-shirts to share their favourite Avenger with the world. But what if you could do that in a completely unexpected way, and in the unlikeliest of places… like when paying for things at the supermarket?

As it turns out, you can.

In line with the world premiere of “Avengers: Endgame”, Standard Chartered Bank Korea thought it was a good time to remind the world that it has a line of debit and check cards featuring iconic characters in the Marvel universe. (Check cards are essentially the card versions of a chequebook).

(Image: Yonhap News)

Originally
released back in 2017
, these cards are the result of a partnership between Standard Chartered and Disney, which allowed the bank to issue cards featuring characters and IP owned by Disney (which owns Marvel Entertainment). The line of Marvel-themed cards began with two of the most iconic Avengers from the Marvel Cinematic Universe (MCU): Iron Man and Captain America.

As Marvel released new movies in the MCU, Standard Chartered released cards featuring the Avengers who star in the movies, including Thor and Hulk as part of “Thor: Ragnarok” in 2017, and Captain Marvel earlier this year.

Of course, South Korea isn’t the only place where you can own a Marvel-themed card. As part of “Avengers: Endgame”,
Standard Chartered Hong Kong announced four new Marvel ATM cards
 featuring – you guessed it – Iron Man and Captain America. The card featuring Ant-Man is particularly outstanding, with its subtle humour and white background. StanChart also previously released Marvel ATM cards in
2018
 and
2017
 with different designs.

Other than the Marvel ATM cards, Standard Chartered Hong Kong also released a special card with quite possibly the longest card name you’ll ever come across: “Ant-Man and The Wasp: Nano Battle!” Special Edition Hong Kong Disneyland Corporate Card – Standard Chartered Privilege Pass. As its eighteen-word-long name implies, it’s a corporate card that offers multiple free entries to Hong Kong Disneyland on top of the perks that come with the Privilege Pass program.

In case you’re wondering, no, Standard Chartered isn’t offering Marvel-themed cards for Malaysia. Its
current Marvel campaign
 offers freebies like a Samsonite Iron Man hard case trolley luggage, Avengers reversible umbrella, and a 3 day, 2 night package to Hong Kong Disneyland for making deposits to the bank. No special edition cards in sight, unfortunately.

Meanwhile in the US, Marvel itself worked with Synchrony Bank to release the
Marvel Mastercard
. It’s a cashback credit card (like the
Apple Card
) that offers surprisingly decent perks, including 3% on dining, online, and entertainment transactions, and 1% cashback on all other transactions.

But the real draw, naturally, is the cards’ designs. Available in six different card faces, the cards highlight Avengers such as Iron Man (of course), Black Panther, Spider-Man, and Captain America. Sure, the Iron Man and Spider-Man action poses are cool, but the Black Panther’s understated yet aggressive card design is particularly attractive.

Superhero Themed Cards In Malaysia

Malaysia’s actually got quite a chequered history with superhero-themed cards. Years ago, BSN
briefly brought the world’s attention to Malaysia
 with the
BSN Batman Visa Debit Cards
, while Maybank had the
Superman Visa Debit Card
. Unfortunately, the uber-cool BSN Batman Visa Debit Cards were
a limited-edition product
, while the Maybank Superman Visa Debit Card was
discontinued in 2017
.

That same year, however, saw RHB release the
RHB Justice League Debit Cards
, which were also a limited edition line of cards. This year, RHB is back again with the adorable, limited edition
RHB Chibi Justice League Debit Cards
.

You’ll notice that these heroes are all from the DC Comics universe, and not Marvel. And, they’re all debit cards, which are less beneficial to use compared to credit cards – and therefore less likely to be taken out of your wallet, which defeats the purpose of a cool-looking card. Will we ever see a superhero themed credit card released in Malaysia? Given its partnership with Disney and Marvel, Standard Chartered would be best suited to introduce a Marvel-themed card for the Malaysian market. (Pretty please, StanChart?) After all, it did rebrand one of its older cards into the
Standard Chartered Liverpool FC Cashback Card
, so there is hope…

That said, if you
really
want a superhero-themed credit card in Malaysia, you could take a cue from Iron Man and make one yourself. The
Alliance Bank You:nique credit card
 allows you to upload your own card face design (hence the wordplay on “you” and “unique”), allowing you to create your very own superhero-themed credit card. You’ll probably face issues to use copyrighted images, but with some creativity, you just might get it approved. Oh, and the card itself is quite decent, too, available either as a
cashback card
,
rewards card
, and a
low interest rate card
.

Which superhero would be on your credit card? Let us know in the comments!

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Pang Tun Yau

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

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Tips to Save When Travelling with Kids During the School Holidays

Travelling is tremendous fun with friends but most of us can certainly vouch that its highly likely to end up disastrous on the wallet if done without some planning – the same can be said when you travel with kids.

The school holidays are coming and you’re definitely going to be treated to lots of “we’re bored!” cries, so we’ve rounded up a couple of nifty tips for you to treat the entire family to a gala time travelling and save some pocket change (a lot more actually) in the process!

Consider Group Travels

You and your kids may constitute a group but what if you joined forces with your entire extended family for a trip? To be sure, all their children will be on holiday too and equally looking forward to a vacation of some sort.

Whilst a group of five people may or may not give you a discount – a huge travelling party of 20 will certainly afford you much more leeway for negotiations.

Get your family in on the plan and give your selected hotel a call. There’s bound to be a group plan that saves you much more than if you were to go with just the nuclear family.

Book Family Apartments

Travelling with your spouse and especially the kids is all about experiencing new things together and simply escaping daily routines as a unit.

The best way to foster great family ties, amplifying experience value and of course cutting back on accommodation costs is to book family apartment style lodgings instead of individual rooms that can accumulate to rather exorbitant sums.

Family apartments come equipped with the basic setup of a standard home – a living room, dining area, kitchen and rooms all within similar bounds. All members of the family need not to worry about privacy because everyone gets their own space in individual rooms within the apartment.

Supervision and surveillance also become a whole lot more convenient for parents as all activities are under close watch – helping you leave all worry on the kids’ safety behind in the arrival halls at the airport.

It really doesn’t matter how old your kids are – they can be pre-adolescent children or teenagers, this concept of having your family within close proximity is surely a tonne of fun and a bargain deal.

Stay at Child-Friendly Hotels

As a kid, this writer found a busload of joy in anticipation of swimming in hotel pools with water slides other child friendly amenities. Playgrounds that adorn parts of the hotel’s popular recreational area were also a welcome addition.

It is safe to say that it is a necessity for the kids to have a pool as well as other forms of entertainment within the hotel premises to make a holiday worth remembering – and ultimately cut costs from spending time and money outside the hotel.

For teenagers, some hotels have tennis and futsal courts, parks, animal farms, horse riding and even go-carting. As guests at the hotel, your family is entitled to enjoy these activities and facilities for a lot cheaper than they are beyond the hotel gates.

Child-friendly hotels that offer entertainment facilities within the premises provide parents with the opportunity to take off the parental leash whilst on holiday.

Research, Research, Research!

A wise man once said – failing to plan is planning to fail. One can never go wrong by conducting extensive research on the intended holiday destination to pick out cost effective endeavours fit for the whole family.

It’ll be a shame if the entire family flew all the way to the perfect family retreat but end up spending 90% of the budget on tourist traps that aren’t worth seeing. This is where research comes handy in helping you discover hidden gems that your vacation destination keeps hidden.

This area in family travel frugality can range from delectable street food, to fun-filled activities as well as sightseeing – and research over these matters would certainly help you gauge budget a whole lot accurately or tell you to cut down where needed.

Bring Along Your Credit Card

Now, we don’t that you’ll need it for all the out-of-the-way spending you will be doing but more so to reap the rewards your credit card will give you when booking hotels, flights or even shopping and dining when you are on holiday.

Check with your hotel for known credit card promotions or keep a lookout for the credit card preferred sign at the F&B or Retail check-out counter.

Good credit cards
 offer everything from rebates on bookings to
cashback
 and
rewards points
 that can be redeemed for more freebies so why not make every ringgit spent earn for you in return?

A Trip to Remember!

However frugal a family trip turns out to be, let’s not allow room for it to turn sour by compromising fun and excitement – after all, family is everything.

So let’s make this coming school holidays one to remember for years to come with a fun-filled vacation – merited to its calculated balance of fun and economy!

Have a tip that you’ve tried on your family vacation? Share it with us in the comments section below – we’d love to hear from you!

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Economists: Lower EPF Dividend Rate Expected For 2022

(Image: BusinessToday)

The Employees Provident Fund (EPF) is expected to distribute a lower dividend rate for 2022, said several economists. This is following the provident fund’s latest announcement of a weaker total investment income during the first quarter of 2022 (1Q22), as compared to the first quarter of the previous year.

The EPF had recently reported that its total investment income for 1Q22 had dipped to RM15.85 billion, from RM19.29 billion in 1Q21. This is attributed to a significant downturn in global markets.

“EPF’s dividend rate is expected to fall in tandem with lower investment income,” economics professor at Sunway University, Professor Yeah Kim Leng commented with regard to this development.

Professor Yeah also hinted that the outlook moving forward may be slightly gloomy, given that the global economic growth is expected to slow down due to various factors. These include the likelihood of the Russia-Ukraine war being prolonged, as well as inflation and interest rate hikes by major central banks around the world. The risk of recession also looms as the US struggles with high inflation.

(Image: The Star)

“If it [the EPF] can navigate a soft landing, and China is able to resume normal activities amid its zero-Covid policy, we may see investment income holding up to enable a decent dividend, which most likely will be lower than the previous year,” Professor Yeah further said.

Economics professor from Malaysia University of Science and Technology (MUST), Professor Geoffrey Williams also shared a similar opinion; he believes that the EPF will not be able to replicate its performance last year in 2022.

Professor Williams explained that the EPF’s overall dividend performance in 2021 was supported by a strong rebound in the equity markets. “But 2022 growth is already being downgraded across the world, so investment returns are likely to be lower,” he said, adding that the EPF’s Q12022 outcome was unsurprising given the general market turbulence.

(Image: Free Malaysia Today/Miera Zulyana)

Last year, the EPF announced a dividend rate of
6.10% for Simpanan Konvensional, and 5.65% for SImpanan Shariah
. The total payout stood at RM50.45 billion and RM6.27 billion, respectively.

(Source:
The Star
)

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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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AmBank Balance Transfer and Quick Cash Free iPhone 5

Guaranteed Gifts include: iPad mini, Samsung Galaxy Note II or Samsung Tablet

AmBank’s Balance Transfer and Quick Cash can help you get more for your money. Until the end of May, if you sign up for a Balance Transfer or Quick Cash loan to help you manage your debts you’ll get an amazing free gift.

In the Samsung offer
, you’ll get a free Samsung Galaxy Note II smartphone or Samsung Galaxy Note 10.1 tablet.

In the Apple offer
, you’ll get an iPhone 5 or iPad mini.

Of course, there’s a catch, you need to transfer a balance, or borrow cash in excess of RM12,000 to qualify for the basic Samsung and Apple offers.

If that’s too rich for you, don’t worry,
AmBank is giving away HTC smartphones and a Sony Blu-Ray player
 for transfers and loans in excess of RM5,000 until the end of March 2013.

Not sure which AmBank credit card suits you best? Check them all out in the
RinggitPlus.com credit card section
.

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Foreign Airbnb Guests In Malaysia Might Be Required To Pay Tourism Tax Soon

Airbnb
 revealed that it is in discussions with local authorities and Malaysian ministries about plans to collect Tourism Tax for guests booking for accommodations to stay in Malaysia. The possible implementation of the tax would be similar to the current Tourism Tax on booking hotel rooms.

Mich Goh, the Head of Public Policy of Airbnb Southeast Asia, said that the company has had discussions with the Royal Malaysian Customs as well as the Finance and Tourism ministries on plans to implement its Voluntary Collection Agreement (VCA) tool. The VCA tool was designed by Airbnb to help collect taxes from Airbnb home owners and guests all over the world, and remit them on their behalf.

In Malaysia, tourists staying in hotels regardless of class are charged the Malaysian Tourism Tax, which is a flat rate of RM10 per night per room for the. The tax was enforced in September 2017, and is applicable to foreigners. However, since Airbnb’s services means it is not classified as a hotel, tourists staying in Airbnb accommodation do not have to pay the Tourist Tax – much to the ire of the hotel industry in Malaysia, which called for
the service to be regulated
.

Authorities will continue to discuss with Airbnb to solidify plans on implementing the VCA for Airbnb hosts and guests in Malaysia, and as such there are no confirmed dates as of today.

(Source:
The Malay Mail
)

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Overnight Policy Rate Maintained At 1.75%

Bank Negara Malaysia (BNM) has decided to maintain the overnight policy rate (OPR) at 1.75% at its Monetary Policy Committee meeting today. The OPR of 1.75% is the lowest on Malaysian record and has been maintained at this rate since
July 2020
.

According to BNM, better-than-expected economic activity in the first quarter of 2021 continued into April, but the re-imposition of nationwide containment measures will dampen the growth momentum. However, continued allowances for essential economic sectors to operate and higher adaptability to remote work, automation, and digitalisation will partly mitigate the impact of restrictions.

“Going forward, the gradual relaxation of containment measures, alongside the rapid progress of the domestic vaccination programme and continued strength in external demand will provide support for the growth recovery into 2022,” the central bank said. “The growth outlook, however, remains subject to significant downside risks, due mainly to factors that could lead to a delay in the easing of containment measures or imposition of tighter containment measures, and a weaker-than-expected global growth recovery.”

Headline inflation spiked recently, as expected due to the base effect from low fuel prices in the second quarter of last year. However, this spike is transitory and headline inflation is projected to moderate in the near term as this base effect dissipates. “For 2021 as a whole, headline inflation is projected to average closer to the lower bound of the forecast range,” said BNM. “Underlying inflation, as measured by core inflation, is expected to remain subdued, averaging between 0.5% and 1.5% for the year, amid continued spare capacity in the economy.”

(Source:
BNM
)

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The Next Sought-After Address For KL Urbanites

A lot of factors come into play when looking to buy a home. Typically, this would include the location; perhaps a strategic one that is within proximity to places that they would frequent like the office, gym, homes of family and friends, preferred grocer, etc. In fact,
location is the number one priority
 when Malaysians consider buying a property.

Next, connectivity and accessibility are also important factors to consider because inaccessible areas and poor connectivity may mean longer commute times and lesser access to services like food delivery.

An example of a masterplan that has successfully managed to please buyers with good location, accessibility, and connectivity is Tropicana Gardens, so much so that all the residential units across each development have sold out! For those interested in living or working in Tropicana Gardens, you’re in luck because a brand new tower named Edelweiss has just launched and is now ready for booking.

Experience The Convenience Of Working & Living At Edelweiss

Offering an opulent serving of serviced residences and SOFO (Small Office, Flexible Office), Edelweiss is an exclusive mixed development where high rise living and business intertwine. Edelweiss was designed and built in accordance with GreenRE Certification standards, earning a Silver rating. It emphasises energy efficiency, water efficiency, environmental protection, interior environmental quality, and carbon output, among others.

Located in the heart of Petaling Jaya, major highways such as NKVE, NSE, LDP, Penchala Link, and Sprint Expressway are easily accessible. Plus, there are plenty of amenities to enjoy within 2km: Segi University College, Sri KDU International School, Thomson Hospital, Tropicana Golf And Country Resort, Seri Selangor Golf Club, and Sunway Giza.

Connected To Tropicana Gardens Mall

Anybody who lives in Edelweiss will no longer have to worry about driving, finding and paying for parking, and all the other hassles associated with heading to the nearest shopping mall. This is all thanks to the elevated and covered pedestrian bridge that directly connects to a 1-million sqft shopping mall, otherwise known as Tropicana Gardens Mall.

If you’re unfamiliar with the mall, it houses
the largest Starbucks Reserve in Malaysia
, boasting 6,200 sqft of retail space. Not only that, you can enjoy delectable bites from 73 eateries including Taco Bell and Gula Cakery, go book shopping or take Insta-worthy photos at the beautifully lit BookXcess, have a sweaty boxing session at Tribe Boxing Studio, or shop all things Japanese at the largest Don Don Donki outlet in Malaysia.

Steps Away From Surian MRT Station

Besides being able to comfortably walk to Tropicana Gardens Mall, residents will also get to skip the hassle of having to leave home early to reach the office on time and worrying about parking tickets. Instead, they’ll benefit from having a connected bridge to Surian MRT Station.

This means whether it’s for business or leisure, you can travel to Bandar Utama, TTDI, KL Sentral, or wherever your heart desires without the need for a car.

With A Generous Selection Of Sizes & Free Smart Furnishing

The residences extend a selection of eight unique layout designs that range from 556 sqft all the way up to 1111 sqft. So, whether you’re an empty nester hoping to live closer to the city centre, a business professional looking to travel shorter distances to nearby CBDs, or a small family interested in living in an affluent address, Edelweiss has a variety of layout designs you can choose from.

Some units come complete with a balcony, while some others offer Dual Key accessibility. However, all units get to enjoy a smart home system that includes a smart home hub, door sensor, air conditioning controller, and smart socket, as well as a multitude of free goods such as a digital door lock, air conditioning, kitchen cabinet, hob and hood, and a 2-in-1 washer and dryer.

A Prime & Highly-Connected Address To Operate Business From

While living in Tropicana Gardens certainly sounds appealing, working here would also bring a similar experience. Its covered walkway to Surian MRT Station as well as a direct connection to major highways like NKVE and LDP makes for an easy commute. Amenities are also aplenty in the matured neighbourhood with F&B outlets, banks, and other services within reach.

Offering sizes from 452 sqft up to 858 sqft, Edelweiss’ SOFO units offer flexible layouts suited for entrepreneurs and SMEs. Not only that, Edelweiss brings a multitude of exclusive facilities catered for businesses such as meeting rooms and space for a business centre. Edelweiss SOFO units start from RM512,000*.

***

Some dream of living near the buzz where home, work, and play are seamlessly interconnected. For those who prefer being close to business areas, a variety of shopping experiences, and at the same time, enjoy the lifestyle that it brings, consider making Edelweiss your new home or office address before it gets sold out.

Make sure to book your unit soon. If you’re interested in learning more about Edelweiss,
click here to visit their website
.

*Terms and conditions apply.

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The New RHB Dual Credit Cards Offer Both Cashback And Rewards

RHB has released two new credit cards, each designed to focus on cashback and rewards benefits respectively. In a twist, RHB is offering the
RHB Cash Back Credit Card
 and the
RHB Rewards Credit Card
 together as the RHB Dual Credit Cards, offering users the best of both worlds.

RHB Cash Back Credit Card

The RHB Cash Back Credit Card offers tiered cashback for five categories up to RM10 per category. The categories are Online Food & Grocery Delivery, Petrol, Dining, Utilities, and Groceries. The percentage of cashback you get depends on how much you spend in total each month.

Spending between RM1–RM999.99 will get you 0.2% cashback, RM1,000–RM1,999.99 delivers 1% cashback, and spending between RM2,000–RM2,499.99 gets you 2% cashback. If you hit a minimum spend of RM2,500 in a month, you get 10% cashback for the Online Food & Grocery Delivery category and 5% for the other four categories.

In short, spending a minimum of RM2,500 a month will unlock the highest rates of cashback on the RHB Cash Back Credit Card: 5% for all the categories except Online Food & Grocery Delivery, which offers 10%. There is a cap of RM10 per category, so assuming you max out the cashback on all five categories, you could get up to RM50 worth of cashback in a month. In addition to this, you’re also eligible for unlimited 0.2% cashback on all other retail spend.

RHB Rewards Credit Card

Meanwhile, the other half of the RHB Dual Credit Cards is dedicated to rewards points. Here’s what you need to know about collecting points using the RHB Rewards Credit Card:

Expenditure

Rewards Points

Movie tickets

10x

Overseas spend

4x

Online & e-wallet

3x

Health & Insurance

2x

Retail shopping

2x

Other retail spend

1x

Rewards points can be redeemed on items such as home appliances or tech gadgets, vouchers for food and shopping, or converted into Enrich Miles or AirAsia BIG Points. Rewards points earned with this card have a validity of three years.

RHB Dual Credit Card requirements

For the first year, annual fees for both credit cards will be waived. Subsequently, principal cardholders will have to pay a RM70 annual fee for the RHB Cashback Credit Card and RM200 for the RHB Cash Rewards Credit Card – although these fees will be waived if the cardholder spends RM10,000 in a year. Annual fees for supplementary cardholders are waived.

To find out more about the RHB Dual Credit Cards, you can head on over to the
RHB website
.

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Pertama Digital Partners With CGS-CIMB To Develop Digital Financial Services, Including Digital Stockbroking

(Image: New Straits Times)

Pertama Digital Bhd has announced that it will be partnering with CGS-CIMB Securities Sdn Bhd to develop and offer digital financial services to the public, further empowering retail investors in their investment journey.

According to a joint statement, both parties will collaborate to create products that are specifically meant for addressing the needs of retail investors. Among some of the services that Pertama Digital and CGS-CIMB are looking to develop soon include digital stockbroking, as well as offerings that can increase the people’s access to Islamic capital market products via digital channels – both locally and regionally. Pertama Digital also notes that this collaboration will be an opportunity to serve the public using a “hyperlocal strategy”.

“The Covid-19 pandemic has accelerated the demand for digital financial services, including digital stockbroking. There is an opportunity to give everyone access to the capital markets, regardless of their background. Through more equitable models powered by digital, we aspire to influence how the rakyat builds wealth over the next 10 years,” said the executive director of Pertama Digital, Sabri Rahman.

(Image of Sabri Rahman: The Edge Markets/Mohd Izwan Mohd Nazam)

The chief executive officer of CGS-CIMB, Ruzi Rani Ajith concurred, adding that the company – as one of Asia’s leading integrated financial service providers – is committed to lending its expertise and resources to create relevant opportunities. In turn, both Pertama Digital and CGS-CIMB will be able to contribute towards the realisation of the
Capital Market Masterplan 3
, which was launched by the Securities Commission back in September 2021.

Pertama Digital is known for its digital bail payment solution,
eJamin
, on top of
being one of
 the
29 applicants bidding for the upcoming digital bank licences
 by Bank Negara Malaysia (BNM). Meanwhile, CGS-CIMB Securities is a joint venture between CIMB Group and China Galaxy International Financial Holdings Ltd, a subsidiary of China Galaxy Securities Co Ltd.

(Source:
The Edge Markets
)

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Emicro Offers Fast And Hassle-Free Financial Assistance

Emicro Services Sdn Bhd is a licensed moneylender that offers quality legal financial help upheld by two principles: customer convenience and speed. Registered under the Ministry of Housing and Local Government (Kementerian Perumahan Dan Kerajaan Tempatan), it offers loans with fast approvals without the need for excessive information or documents.

Ultimately, Emicro Services seeks to help Malaysians meet their personal or business financial needs as quickly and with as little restrictions as possible.

Emicro’s loans are essentially designed with its customers’ ease and convenience in mind, particularly in times of urgent financial need. With minimal document requirements, flexible repayment schemes, and quick approvals, you can count on them for reliable and immediate financial backups legally whenever you need it, wherever you need it.

For more information, you can head on over to the
Emicro page on RinggitPlus
.

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TNB To Provide Details Of Bantuan Prihatin Elektrik With Their Customers’ July Bills

Tenaga Nasional Berhad (TNB) said that it will be providing a detailed statement containing information of the Bantuan Prihatin Elektrik (BPE) rebate for domestic customers in the upcoming July bill. The statement will break down the discounts provided for April, May, and June.

According to the utility company, customers can expect to receive their bills and the attached document within seven days after the month’s meter reading has been carried out. Alternatively, they can also view the items online via the myTNB website or app, 48 hours after being notified that the exercise has been completed. TNB further informed that the meter readings for the July bill will begin on 3 July 2020, after which it will send a notice to their customers to alert them of its completion.

The
BPE rebate
, which was announced on 20 June 2020, is an additional aid provided on top of the ongoing electricity bill discounts given through the Prihatin economic stimulus package. Through this new initiative, 7.66 million domestic customers will receive up to RM231 worth of free electricity from April to June (RM77 per month). In addition to that, there is an extra 8% discount for users who use between 601-900 kWh electricity per month. This is on top of the existing 2% rebate that they are already enjoying.

In a separate statement, Energy and Natural Resources Minister, Datuk Shamsul Anuar Nasarah, had also announced that the government will be
extending the electricity bill discounts from end of September to 31 December 2020
. This applies to the 2% to 50% discounts offered via the Prihatin economic stimulus package, as well as the extra 8% discount for users within the 601-900kWh band, given through the BPE.

(Source:
Tenaga Nasional Berhad
)

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EPF Upgrades i-Invest With New Features To Help Members Make Informed Investment Decisions

(Image: Majalah Labur)

The Employees Provident Fund (EPF) has enhanced the i-Invest web portal with several new features to improve its users’ experience and help members make better informed investment decisions. These include the introduction of a historical investment performance dashboard and an investment simulator – among other things.

In a statement, the EPF noted that the new historical investment performance dashboard – which is the first of its kind to be introduced in the domestic fund management industry – will enable members to analyse investment performance returns across various time horizons. Investors can view the returns based on three key categories, allowing comparisons to be made at the fund, fund management institutions (FMIs), and overall portfolio level.

On top of that, an investment simulator has also been added to the i-Invest web portal so that members can run simulations of their investments based on five key parameters before actually performing it. The five parameters include the member’s choice of initial investment amount, monthly investment amount, investment period, rate of return, and ending investment value.

(Image: Malay Mail/Hari Anggara)

Additionally, the EPF has incorporated Lipper-assigned benchmarks into the upgraded i-Invest web portal so that members can make more accurate comparisons of a unit trust fund’s performance. Briefly, Lipper benchmarks (usually referred to as the Lipper average) are a set of indexes used to gauge how well an investment portfolio is performing against others.

Aside from announcing these updates to i-Invest, the EPF also noted that it will bring various web features of i-Invest over to the i-Akaun mobile app. Some of the web features that will be ported over include transactional functions, suitability assessments, and useful information on approved unit trust funds as well as the FMIs that are offering them. More features are also expected to be added in the upcoming months.

The
i-Invest portal was first launched back in 2019
 so that EPF members can conveniently invest their Akaun 1 savings directly into approved unit trust funds – provided they meet specified criteria. The facility is meant to offer members greater autonomy over their retirement savings, as well as to simplify the overall investment process.

(Source:
EPF
)

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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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Visa Announces Development Of Financial Literacy Web Game, Mind Your Ringgit

Payment service provider Visa has announced that it is developing a new financial literacy-themed web game in a bid to help educate young Malaysians on making informed financial decisions. The Mind Your Ringgit game is yet another initiative rolled out in conjunction with the
Financial Literacy Month (FLM 2020)
 in October – an event that is organised by the Financial Education Network (FEN).

Mind Your Ringgit – which takes its name from the acronym of Malaysia’s currency (MYR) – is a simulation-based game that will take place over the span of a year. Each month, players will be presented with scenarios depicting real-life events so that they can resolve the situations by making necessary financial decisions. The game also incorporates a range of financial themes, including digital payments, financial scams, insurance, investments, loans, and savings.

In a statement, Visa said that this game is meant to challenge young Malaysians in their thought process when managing finances, as well as to teach them financial concepts. Additionally, it helps them grasp the consequences of their financial decisions. The payment service provider also said that its effort is in line with the objectives of the
National Strategy for Financial Literacy 2019-2023
, a five-year plan aimed at improving the country’s level of financial literacy.

“At Visa, we have been focused on promoting the importance of financial literacy for many years now, including partnerships with Agensi Kaunseling dan Pengurusan Kredit (AKPK), who is also a member of the Financial Education Network. We continue to be committed to creating new and relevant financial education programmes that ensure Malaysians are equipped with the knowledge to manage their finances,” said the country manager (Malaysia) of Visa, Ng Kong Boon.

Meanwhile, the chief executive officer of AKPK, Azaddin Ngah Tasir, said that the debut of Visa’s Mind Your Ringgit game is timely, especially amidst the current financial landscape. “The situation has now become even more challenging due to the unprecedented Covid-19 pandemic that warrants behavioural changes and new ways of doing things in adapting to the norm,” he said.

At present, Visa has released the demo version to a selected group of Malaysians for pilot testing. It will be made available to the public in early 2021.

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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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The Government Is Allocating RM300mil For BSH To Three Million Single Malaysians

(Image: Aliran)

The Finance Ministry has reinstated the cost of living aid, also known as Bantuan Sara Hidup (BSH) for single Malaysians. About three million unmarried Malaysians will be eligible to receive the aid of RM100 each which amounts to RM300mil from the government. The money will be credited straight into the eligible recipients’ bank accounts by the end of March 2019.

Finance Minister Lim Guan Eng said that the payout will go to eligible recipients based on the existing 2018 BSH database of registered individuals. He also added that the reinstatement of the payout to singles was suggested by Prime Minister Tun Dr Mahathir Mohamad and Home Minister Tan Sri Muhyiddin Yassin, who both believed that this initiative will lessen the burden of singles who are working but barely earning enough for living expenses.

However, Lim Guan Eng noted that any future BSH payments for single individuals, including the any changes to the aid amount, will need further study and approval from the Cabinet. Previously, the Bantuan Rakyat 1Malaysia (BR1M) provided single individuals above the age of 21 and earning an income below RM2,000 a month with RM450 worth of cash aid.

(Source:
The Star
,
New Straits Times
,
Malay Mail
)

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ACCA Reminds Gig Workers To File And Pay Their Taxes

(Image: ACCA Global)

The Association of Chartered Certified Accountants (ACCA) has urged gig workers to file their taxes as the tax submission deadline nears, saying that it is important to do so. This comes as a bigger percentage of Malaysia’s workforce are now involved in the gig economy.

“It is the civic responsibility of all income earners, including gig workers, regardless of age, to file and pay taxes to ensure the fiscal sustainability of the government. The government will then be able to provide infrastructure and services such as telecommunication and roads which are commonly used by gig workers,” said ACCA’s ExpertLink panel member for taxation, Thenesh Kannaa, who is also the co-founder of independent tax advisory firm TraTax.

Thenesh further explained that gig workers – and all Malaysians in general – will face severe financial and civil problems later if they fail to pay their taxes. “Penalties for failing to file or pay taxes can be as high as 100% of unpaid taxes, which will only get worse the longer gig workers ignore filing and paying taxes. Failure to file and pay taxes also heavily affects a person’s credit scores, making it harder for them to get loans at reasonable interest rates,” he said.

(Image: Malay Mail/Firdaus Latif)

These consequences, in turn, will affect a gig worker’s potential to advance in life, said Thenesh. He or she may not be able to get a loan to buy a new home or start their own business in the future, thereby limiting themselves.

Additionally, Thenesh said that it is also near impossible to avoid filing taxes these days due to the increased digitalisation of modern gig work and payment methods. This ultimately provides the Inland Revenue Board (LHDN) with digital records that can be easily used to trace a taxpayer’s activities.

Thenesh also shared some steps and suggestions that can help ease the tax filing process for gig workers. “Gig workers can easily get their Tax Identification Number (TIN) online through the LHDN website or mobile app, which they can then use to file their taxes digitally, without ever needing to physically go to a LHDN office. If tax filing is too difficult, hiring a licensed tax agent to help file your taxes is also an option,” he said, adding that taxpayers can use the Finance Ministry’s MyCukai website to check if their tax agent is licensed.

Furthermore, Thenesh advised gig workers to use a spreadsheet to record and organise their income and expenses. This will not only make it easier for gig workers to identify their total income to declare, but also how much to apply for tax deductions and claims. They should also be aware of expenses that count as capital allowances that are used for their gig work – such as new ovens for a home-baking business – as these may be applicable for tax depreciation/capital allowances claims, he said.

Malaysian individual taxpayers
 are required to file their taxes by either 30 April 2023 (manual filing) or 15 May 2023 (e-Filing). Meanwhile, gig workers whose income qualifies as business income must file their taxes by 30 June (manual filing) or 15 July (e-Filing). A 2020 study by independent think tank Emir Research also indicated that about 26% of the workforce (equivalent to approximatelly four million Malaysians) were engaged in the gig economy.

(Source:
The Star
)

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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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Projected Return Rate For StashAway Simple Now Raised To 3% p.a.

StashAway announced that it has raised the projected return rate for its cash management portfolio, StashAway Simple, to 3% p.a..

In a post on its social media, StashAway explained that “Simple’s returns are closely tied to the interest rates, so when rates go up, so does Simple’s ability to earn more cash.” Its
website
 has also been updated to reflect the change.

StashAway Simple was first launched in
June 2020 with a projected rate of 2.4% p.a.
, which was then increased to 2.5% p.a. in June 2022, followed by 2.9% p.a. in September – before eventually settling on its latest rate. Meanwhile, StashAway said that its cash management portfolio has recorded the following annualised returns for the last four quarters, with returns reinvested:

Quarters
Annualised returns (with returns reinvested)
Fourth quarter of 2021 (Q4 – 2021)
2.5% p.a.
First quarter of 2022 (Q1 – 2022)
2.4% p.a.
Second quarter of 2022 (Q2 – 2022)
2.6% p.a.
Third quarter of 2022 (Q3 – 2022)
2.89% p.a.

To note, Simple’s actual annualised returns will take into account the performance of the underlying fund – which was switched from
Eastspring Investments Islamic Fund to AmIncome Fund in July 2021
 – the fees charged by the fund manager, and any rebates that are paid out after the end of each quarter. StashAway also reminded its clients that past performances should not be treated as a guarantee for future returns.

As one of the earliest cash management portfolios to be introduced in Malaysia, StashAway Simple works like a low-requirement savings account, with no minimum balance requirement and no limit on the balance that can earn the projected return. It also has no lock-in period, as well as management, set up, or exit fees by StashAway (although there is a 0.5% net fee charged by the underlying fund manager).

(Source: StashAway [
1
,
2
])

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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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Why It Pays To Invest In An International Education For Your Children

Starting a family comes with many heartwarming moments, priceless lessons, and unforgettable challenges. As parents, we often ponder on how to raise our children to become well-rounded and successful individuals. With education as an integral part of a child’s development, one of the most important decisions a parent has to make is choosing the right school for your child.

The rise of technology and connectivity has catapulted the world into becoming a global community of diverse cultures, values and languages. Moreover, the generation of today also puts focus on character, authenticity, and creativity.

With this in mind, why not consider giving your children an international education, such as is offered at the Australian International School Malaysia (AISM) to better prepare them for the world ahead? Here are 5 reasons why:

An Open & Global Perspective On Life

One of the most wonderful things about attending an international school is being able to mix with people of diverse backgrounds, both peers and teachers.

By mixing with a variety of nationalities, cultures, and languages, children can gain a global mindset, as they learn about different nations and cultures through their everyday interactions with their peers. Moreover, children will be able to develop positive character traits, such as flexibility, respect and empathy for others.

Through learning in a multicultural environment, students are also exposed to fresh views and perspectives, which, in turn, can open their minds and as they learn to see the world from different angles. As they get older, students will be able to carry these unique insights and experiences into other aspects of their life.

AISM is the oldest and most established Australian international school in Malaysia and its community is made up of students from all over the world. AISM also employs over 82% expatriate teachers, trained in Western education systems, who truly create a global learning environment for their students.

Balanced Focus on Academics & Life Skills

Most international schools are focused on giving students a balanced approach to learning, thus shaping them into becoming individuals who can think creatively, act independently, and contribute to society.

To achieve this, international schools often offer curricula and assessment systems that are used in other countries such as Australia, UK, and the US. In the Australian system, students are assessed not only through examinations but also through real-world focused assignments and projects. Apart from academic knowledge, students are also taught practical knowledge, such as communication skills, critical and creative thinking, intercultural understanding, entrepreneurialism, moral values and more.

At the Australian International School Malaysia (AISM), students are graded based on continuous assessment throughout the year as well as through formal examinations, ensuring academic rigour and personal development. With both academic and practical knowledge, students can make independent decisions, speak clearly and become an all-round, confident individual. This will prove to be an edge when entering university and the labour market.

Diverse & Effective Learning Approaches

In addition to offering academic and practical knowledge, international schools also tend to have different learning approaches.

Teachers are encouraged to use innovative learning methods so that students are able to understand every concept to the fullest. Examples include demonstrating a science experiment outside of the classroom or creating a mock debate during English, for students to voice out their opinions about a text.

These innovative methods are further enhanced by low student-teacher ratios, which ensure individualised attention during classes. In addition, these methods are further enhanced through real-life applications of knowledge, state-of-the-art tools and world-class facilities.

One of the best recognised learning approaches is the Visible Learning approach, where both students and teachers work together to ensure that effective learning is achieved through assessments and feedback. This approach is often practised in countries such as New Zealand, Scandinavia and Australia. For Malaysian parents who are interested in enrolling their children in a more holistic learning approach, AISM does practice the Visible Learning approach for its students and is the leading Visible Learning school in the region.

Opportunity To Learn Beyond The Classroom

As mentioned before, international schools are not only focused on giving students a promising academic experience, but also a space to explore their creativity, improve their talents and nurture their bodies.

To do that, international schools, such as AISM, offer a wide range of extracurricular activities, such as sports, arts, music, dance, science, engineering and more. By engaging in these activities, students are also more inclined to develop socially and emotionally whilst acquiring a unique set of skills in areas of their interest.

These activities also give students a break from the books to relax, re-energise and have fun with their peers.

Global Recognition From Top Universities

Studying in an international school will also open doors to universities all over the world. Curriculums and programmes such as the Higher School Certificate (HSC), Advanced Placement or A Levels are internationally recognised by top universities.

Moreover, international schools also offer academic advising services and college counselling to help students plan out their courses of study and assist students in determining their future college and career options.

For example, students who attend the Australian International School Malaysia (AISM), will be able to apply for direct entry to universities all around the world, without the need for foundation or bridging programs. In recent years, AISM graduates have taken up places in universities such as the University of Melbourne, the University of Manchester, the University of Canterbury, the National University of Singapore, Korea University, George Mason University, and many, many more.

Invest in the Australian International School Malaysia

If all those reasons have convinced you, consider enrolling your child into the
Australian International School Malaysia
. Recognised by the Ministry of Education as a 5-stars Excellence School and the first school certified Visible Learning School in the world, back in 2017, AISM is one of the longest established international educational institutions in Malaysia.

From pre-school to pre-university, AISM incorporates a holistic approach to learning, with a balanced assessment approach, developing examination skills whilst also ensuring the development of life skills, throughout the school year. Through the Visible Learning approach, students and teachers work together to ensure that learning is effective in and out of the classroom, guided by metadata gathered from tens of thousands of educational studies undertaken all around the globe. This is why the students of AISM also achieve the best HSC (pre-university) results outside of Australia.

The AISM community is made up of students from over 26 nationalities, with 82% expatriate teachers and 20 accredited mindfulness staff. Apart from academic subjects, AISM also offers leadership development, thinking skills, internationalism, service learning, foreign languages, and more.

To learn more, speak with the Admissions teams and Heads of Schools at the Australian International School Malaysia. AISM is now offering a 75% fee waiver on the admissions fees, for new enrolments, so head to
AISM’s website here to register your interest!

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Katrina Balan Quiroz

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

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How to Fill the Gaps in Your Resume

Due to the competitive environment that we live in, people are expected to have a continuous string of jobs that indicate career progression.

However, there are times we need to take time off due to health reasons, getting retrenched, going back to school or in need of a long term holiday.

Generally, employers usually want to know how you spent the time and how well you stayed connected to your field. When this happens, you don’t want to be caught off guard and seem like you spent a full year doing nothing. To prevent this, here are a few things you can do.

Restructure Your Resume

Instead of putting your career experience first, highlight your achievements, skills and education history before you get to the career time frame.

Once you have them by the hook with an impressive set of skills and achievements, it will create a level of curiosity which they are more likely to follow through and find out more from you.

In addition to that, you could also include a compelling reason on why you had chosen to make those changes during your career and include a good game plan for the future, in a well thought out cover letter.

Be Upfront

Being honest about your time off is better than fumbling through a made up excuse which automatically make the employers doubt you.

While you may need to be honest, how you word your answer could make or break how your future employers react. If you told the hiring manager that you were retrenched, explain what happened and what action you took afterwards to keep your skills sharp.

Use the opportunity to tell them how you took up courses or kept working on freelance initiatives rather than leaving it to their imagination.

If you took a leave of absence travelling, taking care of your family, or any other reason, be sure to include the lessons and skills you’ve picked up during that time. For example, travelling may have taught you conversational French, or taking care of your family taught you about household budgeting. Don’t worry if these skills aren’t necessary for the job you’re applying for, because that’s not the point. The point is to show that you’re not just sitting at home watching YouTube all day.

Be Frank with Your Commitment Level

If you had taken time off to study or go on a trip around the world, you can expect your future employer to ask, “Will you be taking time off again?”.

When hiring someone, a company would worry about such an issue due to stability of operations. Should you take time off again, the company would need to hire and train a new person and will have to keep your position open until you get back. This puts the company at a disadvantage as it increases their cost.

In a scenario such as this, be willing to provide the hiring manager some form of security. Maybe, you would be willing to work for at least two years without the option of taking long periods off, unless it was due to emergencies such as health reasons. A counter offer such as this would reassure the hiring managers and portray how committed you are.

This is assuming you do plan to take some leave off in the future of course. Otherwise it’s a simple matter of reassuring them that you’re fully committed to your new position. Easy.

Lastly, Don’t Sweat it Too Much

While it’s understandable to be a bit anxious over how that gap in your resume might be construed, remember that a consistent career calendar doesn’t guarantee you a job, either.

What’s most important here is to be honest with your time off and be aware that you can still be a valued member of a team even if you did have to take a whole chunk of the calendar off work just to work on things.

If you being away was due to a medical situation, don’t rush to get back into work, since your health is way more important than your wealth. Speaking of which, don’t leave your health completely to fate, use our insurance
comparison tool
 to pick the right medical card for you and yours. Good luck out there!

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Gavin Pereira

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