AirAsia Launches Fresh Xpress, Same-Day Delivery Service For Online Grocery Shopping

AirAsia has launched Fresh Xpress, a same-day delivery service that is made available for its online grocery shopping platform, airasia fresh. With this, customers who purchase selected fresh produce by 12pm will be able to have their groceries delivered straight to their doorsteps on the same day.

Driven by AirAsia’s logistics venture, Teleport, Fresh Xpress is currently available only in Klang Valley, although it is expected to be expanded to other areas soon. Customers who wish to utilise this service can do so by making their purchases via the Fresh Xpress tab on the airasia super app or the
website
. The fresh produce available for sale via Fresh Xpress include eggs, vegetables, fruits, fish, meat, and shrimp.

“We are pleased to provide shoppers the convenience, speed, and reliability of same-day delivery. During this challenging and unpredictable times, online grocery shopping provides a secure and convenient environment for Malaysians to shop,” said Lim Ben-Jie, the head of e-commerce for airasia super app.

Additionally, Lim emphasised that customers will be able to enjoy guaranteed freshness for all products on Fresh Xpress as they are directly sourced through airasia farm, its B2B fresh produce platform that connects farms directly to businesses. “We will continuously grow our product list and offerings for Fresh Xpress so shoppers can be sure to get the best deals on airasia fresh,” he said.

In conjunction with the launch of Fresh Xpress, airasia fresh customers can tap into an introductory offer that lets them get RM3 off on their purchases with a promo code (
XPRESS
) – slated to end on 10 June 2021. This is on top of an unlimited free delivery offer with a minimum spend of RM50, available throughout the month of June.

You can check out airasia’s new
Fresh Xpress service
 here.

(Source:
AirAsia
)

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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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What Do People Around The World Eat On Their Flight?

Part of what determines whether the flight you take on holiday was awesome or not is the in-flight meal. Believe it or not, there are competitions and awards for the best in-flight meals available, and airlines pay lots of attention to crafting delicious and mouth watering creations that will stay fresh in the air, as well as represent their country of origin.

Here are some delectable examples of in-flight food from around the world:

American Airlines

*
Source
*

This lunch was served en route from London to Dallas, in economy class. You can just smell that yummy cheese on their lasagna, served with a side of salad and bread roll to mop up any leftover sauce. For dessert, its carrot cake with a topping of crushed nuts .

All Nippon Airways

*
Source
*

Bento boxes are a favourite Japanese lunchtime offering, and this bento box from ANA, Japan features soba noodles with vegetables and a side of onigiri ( rice ball),karaage chicken, edamame , tamagoyaki (omelette roll) and more fresh veggies. A truly healthy and refreshing Japanese meal.

Air France

*
Source
*

The main dish served in this Air France economy class meal is a chicken with gravy and pasta. A dinner roll and sweet tart accompanies the meal, and in true French fashion, there’s plenty of wine to wash this all down.

Singapore Airlines

*
Source
*

In a true reflection of their Asian roots, Singapore airlines serves roasted chicken on a bed on stir fried noodles, with an accompanying bun that you can eat with butter or jam; or both. The lovely colours of the fresh fruits and chocolate cake will surely whet anyone’s appetite. Singapore Airlines have consistently won first place in in-flight cuisine competitions all over the world, so you’d be considered really lucky to try their food.

Korean Air

*
Source
*

Korea Air’s heritage shines through its in-flight meal options, where things like noodles, Bibimbap and kimchi are often served. Pictured above is a mixed rice dish known as Bibimbap, whereby you mix all the vegetables, minced meat and rice together with Gochujang sauce, provided here in a tube form.

Thai Airways

*
Source
*

At Thai Airways, there’s always a huge nod to traditional Thai cuisine, especially the way they try and incorporate spicy stir fries and curries into their meals. As you can see, rice is very commonly found as a main dish with a meat and vegetable side. It’s accompanied by a bread roll alongside a block of butter. There’s also a salad, as well as a delicious looking cake for dessert.

If all these delicious in-flight meals have got your salivary glands in a tizzy, you’ll want to get the best flight deals out there in order to start travelling. Check out the types of
credit cards tailored especially for frequent travelers
 to gain all sorts of benefits and rebates. Have anything to add to this article? Do share your thoughts with us in the comments section down below!

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5 ways to get out of credit card debt

Your favourite clothing brand goes on sale. A week-long overseas vacation. That latest gadget that you just have to own. Another party to celebrate another weekend. And how do we pay for all of these? With our credit cards, of course!

Credit cards are the best way to spend money we don’t have with the least amount of thought. Keep spending more than what you earn, however, and before long you would have racked up a sizeable credit card debt to your bank(s).

If you’re stuck in a sticky credit card debt situation, don’t panic. The first thing you ought to do of course is immediately look into and change your spending habits. Resist the urge to buy. Sell off everything you don’t need. Cook at home instead of eating out. You know the drill. In short, ensure that your income exceeds your expenditure.

Besides this basic, necessary step, there are also other measures you can take to offload your debt burden.

Pay beyond the minimum amount on time

More often than not, the real killer in any credit card debt is the interest. When you only meet the minimum monthly payment on your cards, you’re barely providing enough to repay the interest, let alone the principal amount. Fail to pay anything at all on your bill and the interest compounds at an alarming rate.

As far as you can, try to pay more than the bare minimum at the end of every month. Even by a little. You’ll be surprised at how far it will go to reduce your debt in the long run.

Transfer your balance to a new card

As you no doubt would have found out by now, the interest rates on credit cards are very high. Much of what you owe on your current credit card is made up of interest. Therefore, a balance transfer is definitely one of the ways that you can reduce your debt.

Balance transfers allow you to transfer over your balance on your existing cards to a new one with a lower interest rate. Some cards even offer 0% interest, usually over a short contract term. Performing a balance transfer could save you a whole lot of ringgit. Until you’ve paid off the debt just be sure to never swipe your new credit card unless absolutely necessary.

Get a personal loan

Besides a balance transfer, you could also apply for a personal loan to pay off your credit card debts. Sure, you’ll still owe a bank money, but at least all of your debts will be consolidated in one place. And the interest could be lower than that of your credit cards, too. Work out a realistic repayment scheme with your bank officer while applying, and be sure to keep up with it. Defaulting will only take you back to square one.

Talk to your bank

Believe it or not, your bank is actually there to help you should find yourself unable to cope with your credit card bills. Give them a call or pay them a visit, and they’ll be very likely to reduce your interest rate or grant you a repayment extension. Just don’t wait till the debt collectors come knocking on your door, because that means that your bank has already given up on you.

Consult the Credit Counselling and Debt Management Agency (AKPK)

If you’re truly in too deep and all other measures won’t work anymore, it’s best to speak to someone from the
AKPK
 before you consider filing for bankruptcy. Although it does not provide loans or financing, its counsellors will help you to work out a tailored debt repayment plan you can afford upon discussing your financial situation with your bank. They will also give you advice on prudent financial management so that you won’t fall into another debt trap. Best of all, their services are free!

As you can see, there are quite a few methods to making your way to safer grounds if you’re knee deep in credit card debt. Of course, the RinggitPlus team hopes that you’ll never have to use any of them at all. Do come back to our site often to equip yourself with the best credit card deals and other sound financial advice.

Image source:
http://www.thatslife.com.au

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Win The All-New Samsung Galaxy S23, RM1000 Cash Via DuitNow And More This Week!

The highly anticipated Samsung Galaxy S23 has finally been released and was a hot topic amongst tech enthusiasts this week. If you’re one of them, look no further! Check out our weekly flash deals from Unbox This Week and you might be able to score the Samsung Galaxy S23 and other cool tech gear!

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 7 to 13 February 2023, our featured bank partners are

none other than
Citibank, HSBC Bank, Public Bank, Alliance Bank, and RHB
. 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 – Samsung Galaxy S23

Fancy getting your hands on the newly released Samsung Galaxy S23? Here’s your chance!

Win the Samsung Galaxy S23 by applying for a Citibank credit card this week. The all-new Samsung Galaxy S23 comes with triple cameras, epic Night shots, 120 Hz adaptive displays and lightning-fast performance.

If you don’t win the Samsung Galaxy S23, you’ll still get a guaranteed RM600 cash via DuitNow.

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 – RM1000 Cash Via DuitNow

Take home RM1000 in cash via DuitNow guaranteed to you when you apply for a HSBC credit card this week.

You’ll be able to pay up your recurring expenses, or even treat yourself to a mini vacation – it’s all up to you. You could also save up for a big purchase you’ve had your eye on with an extra RM1000 in your bank account.

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 – Amazfit GTS 2 Mini Smartwatch

Fitness buffs rejoice! If you’re taking your health more seriously this year, you stand a chance to win the Amazfit GTS 2 Mini Smartwatch when you apply for a Public Bank credit card.

The Amazfit GTS 2 Mini Smartwatch features an ultra-slim and light design so that you’ll always look trendy on the go. The smartwatch also comes equipped with an always-on AMOLED display, and health tracking features such as blood oxygen saturation measurement, heart rate monitoring, and 68+ sport modes.

If you don’t win the Amazfit GTS 2 Mini Smartwatch, you’ll still be guaranteed a Case Vaulkner 20″ Gorgeous Luggage Bag – perfect for your travels!

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
.

Alliance Bank – Xiaomi Mijia Water Dispenser C1 OR Xiaomi 70mai 1s Dash Cam

Get a Xiaomi Mijia Water Dispenser C1 or Xiaomi 70 Mai 1s Dashcam when you apply for a new Alliance Bank Credit Card!

You’ll be guaranteed to receive the Xiaomi Mijia Water Dispenser C1 when you apply for an Alliance Credit Card with Balance Transfer. The perfect addition to your household – the Xiaomi Mijia Water Dispenser C1 features 3 different modes for water temperature, a quick one-button start feature, and 2.5L of tank capacity, meeting your daily hydration needs.

On the other hand, when you apply for an Alliance Credit Card without Balance Transfer, you’ll be guaranteed to receive the Xiaomi 70 Mai 1s Dashcam. With 1080p resolution, you’ll be able to record crystal-clear footage just in case you witness any unfortunate incidents on the road.

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
.

RHB – Apple iPad A13 Bionic

You could win the iPad A13 Bionic when you apply, activate, and spend with an RHB Credit Card this week!

The iPad A13 Bionic features a crystal-clear Retina display and a powerful A13 Bionic Chip which is great for multitasking between work and play. With an Ultra wide front camera and Centre Stage for your video calls, you can level up your virtual meetings online too.

Great news! You’ll still be guaranteed RM200 Touch ‘n Go eWallet Credit if you don’t win the iPad.

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

***

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 13 February (11 am), 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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Eloise Lau

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ShopeePay Is Now Accepted At 7-Eleven Outlets As Payment Option

ShopeePay has announced a partnership with 7-Eleven Malaysia to enable the e-wallet as a contactless payment option at all 7-Eleven stores nationwide.

In a statement, the head of ShopeePay, Alain Yee said that this move is a show of the company’s commitment to provide a secure and seamless payment experience for its users. “With different payment options available, ShopeePay is dedicated to not only providing a secure, seamless contactless payment, but at the same time offering exciting rewards for users to enjoy as they shop,” he said.

Yee further noted that this new payment option is in addition to the ability to make cash payments for Shopee purchases at 7-Eleven outlets – which has been around for a while, and will continue to be available. This ensures that the unbanked and underserved users across Malaysia are also provided for.

Meanwhile, the general manager of marketing for 7-Eleven Malaysia, Chin Hor Wai said that this partnership is in line with 7-Eleven’s mission to provide convenient services to the public. “Aligned with the increasing use of contactless payment methods such as  mobile wallets, our partnership with ShopeePay comes at a timely moment as we continuously seek convenient methods for people to use their preferred payment option at our outlets nationwide,” he commented.

In celebration of this partnership, ShopeePay users can tap into an ongoing promotion until 31 January 2022 via the
Deals Near Me feature
, where they can purchase cashback vouchers at prices as low as 1 sen. The vouchers will allow them to enjoy RM1.50 cashback (with a minimum spend of RM2) when they make ShopeePay payments at any 7-Eleven outlets nationwide. Do note, however, that ShopeePay – along with several other e-wallet and credit card payment options – can only be used to pay for
selected products and services at 7-Eleven outlets
.

Aside from the cashback promotion, ShopeePay users may also purchase the 7-Eleven Slurpee and 7-Eleven Anda ICM Mineral Water (600ml) at a discounted price of RM0.50 and RM0.60, respectively.

(Source:
The Malaysian Reserve
)

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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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5 Most Common Things That Attract Burglars When You’re Not Home

Home burglary. The very thought would sends shudders down anyone’s spine. Let’s be honest, how would you feel if you returned home from a trip – or even from the grocery store – to find your home turned upside down like it was just hit by a hurricane and all your valuables stolen?

In fact, let’s forget the valuables for a second and think about how you and your family would
feel
 knowing that a complete stranger has broken into your home – a safe haven – and that they could very well do it
again
?

Shudders
.

With the year-end holidays looming over us, we’re sure that you’re already making plans to
balik kampung
 or even go on a trip to relax after a long year. But, before you leave for your trip, be sure to safeguard your home and avoid these five mistakes that could attract burglars to your vacant house like bees to honey;

1. Leaving the House Dark and Unkempt

You don’t have to leave the lights in your home on 24/7 while you’re away, but you shouldn’t completely leave it dark and unkempt either. A poorly maintained and groomed house can attract unwanted attention – especially the burglars – as it’s also a sign of a lack of security.

Consider getting programmable or motion-activated lights for certain parts of your home (such as your porch or living room) so you can time it to stay on at night and deter burglars. Also, keep your yard and lawn clean and well-maintained even when you’re not home. Besides that, ask your neighbour or family members to help out with the cleaning while you’re away.

2. Leaving the House Key in Obvious Places

It’s important for you to keep a spare key in case of emergencies, but you need to conceal it well so that no one else can find it and be given a “free pass” to break in your home. Experienced burglars can pretty much guess where most people hide their spare keys and have no trouble finding them (in the case where the keys are in full view) and invite themselves in.

Get creative and hide your spare key in places that only you know, and don’t tell anyone other than your family members where your spare key is!

3. Letting Mails Pile Up In the Mailbox

This is a dead giveaway that you haven’t been home for a long time. Since most burglars usually do a little bit of reconnaissance to identify your daily routine patterns before breaking into your home, signs of neglect like piled up mails basically tell them that it’s go time for their misdeed.

Tip:
 Cancel your mails and subscriptions. Opt for email statements instead. You can also ask your neighbour or a trusted person to check in your home while you’re away every few days to minimise the signs of neglect – and to give the impression that your home is always occupied.

4. Not Installing Home Security Features

Home security features are great in deterring burglars, but they can be pricey. We’ve mentioned programmable or sensor lights for your porch, but consider adding motion-activated alarm system and security cameras as well. These can range anywhere between RM150 to over RM1,000, depending on the brand and features.

If you don’t have the time and the money to set up proper security cameras, buy the dummy versions instead. You can get them on Lazada for less than RM10. They may not be able to record anything, but their presence is usually enough to make burglars think twice before listing your home in their to-rob list.

5. Leaving Valuables in Full View

If you leave your food on the table in full view, someone is bound to help themselves to it. The same principle works with your home; keep your windows and curtains closed and never leave your valuables in plain sight.

Keep your TV, laptop, and valuables hidden (in you can’t move big items like your TV, just make sure they’re hidden from view) and locked away. Secure your jewelry in a password protected safe box or hide them somewhere unusual. You can even leave cheap decoy jewelry around to trick burglars into leaving your hidden – and expensive – jewelry untouched.

Be Sure to Do These Before You Leave Your Home

Your home is your safe place, so before you leave it to go on your trip, make sure to check this list to help secure your home from unwanted attention and accidents:

Secure your home.
 Lock all doors and windows and invest in good padlocks and home security systems.

Keep those lights on!
 As mentioned, having your lights on will help deter burglars. Install motion-sensor lights or programmable lights in your porch, backyards, and the dark areas of your home to scare the intruders away.

Unplug the gas and electronics.
 You don’t want to return to a burned down home, do you? Unplug your electronics and gas to avoid possible accidents while you’re away. While you’re at it, turn off the water tap too to keep your water bill from going through the roof!

Keep a low profile on social media.
 Remember when Kim Kardashian was robbed at gunpoint when she was in one of her residences in Paris? The robbers had allegedly planned and timed out the whole robbery to perfection with the help of Kim’s own updates and posts on Snapchat and other social media. Anyone with a smartphone and internet can track you on the social media, so avoid flaunting your whereabouts on your social media. You never know who might be among the watchers.

Know your neighbours.
 Don’t stop at sending them the occasional food and gifts during the festive season, make friends with your neighbours and ask them to keep a lookout for your home while you’re away. Of course, you should be returning the favour when they’re away too!

Get sufficient home insurance.
 Your home is one of your most valuable possession, so be sure to protect it with ample and appropriate home insurance to secure your future from what could be a financial disaster. Opt for home insurance that gives you the coverage you need, such as the
Smart Home Cover from Allianz
. It’s the only modular home insurance in Malaysia that lets you choose and customise your coverage according to your needs!

Stay Safe Out There, and Keep Your Home Safer!

Going on a year-end trip is plenty of fun, but be sure to have fun on the safe side! If you’re driving, check your vehicle’s spare tyres, emergency kit, as well as the first-aid kit and send it for servicing before you leave to ensure it’s in an optimum condition.

If you’re flying, don’t underestimate travel insurance even if you already have medical insurance! It can help you with travel-related mishaps, including cancelled flights, lost baggage, and speaking of robbery, if you’re robbed off your valuables while on your trip. Lastly, choose the right protection for your home.

With
Allianz Smart Home Cover
, you can choose from five different coverage; HomeOwner (building), HouseHolder (home content), Mortgage Loan Installment Protection, HomeFix (home repairs), and Landlord Insurance. So, which home insurance coverage will you get from Allianz Smart Home Cover? Click the button below to learn more about what it has to offer, and how it can protect your home better!

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121,000 Commuters Have Purchased My100

The Ministry of Transportation has revealed that a total of 121,303 commuters have purchased the My100
unlimited monthly travel pass
 since its implementation on 1 January this year, and as a result, train ridership in the Klang Valley has increased.

Transport Minister Anthony Loke said that train ridership for the first two months of the year has seen a 9% increase compared to the same period last year, from 32.6 million to 35.6 million. The figures are expected to improve in the coming months as well, with the monthly travel pass being a direct factor for this. In March 2019 alone, 87,349 commuters purchased the pass; the number is expected to increase for the coming months.

The unlimited travel pass was announced in Budget 2019 as a means to reduce people’s cost of living. Two passes were offered: My100 which allows unlimited rides on the RapidKL public transportation network including LRT, MRT, monorail, BRT Sunway, RapidKL buses, and MRT feeder buses, and the My50 pass, which only covers bus rides on the RapidKL network.

In addition, Loke also revealed that My50 will be launched in Penang as soon as July this year. My50 Penang will cover the Rapid Penang bus network as well as Rapid Ferry. He added that there are plans to introduce it to other states, but it is subject to the condition of the state’s infrastructure.

(Source:
The Sun Daily
)

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Affin Duo Review: Say Hello To The Best New Cashback Credit Card In Town

Affin Bank has joined the likes of Maybank and Public Bank with its own take on the dual credit card model. The
Affin Duo
 consists of a pair of Visa and Mastercard credit cards that offer cashback and rewards points respectively, and has quickly captured the attention of savvy Malaysians.

Let’s jump straight in and see why.

At A Glance: Affin Duo

Affin Visa Cash Back Card

Affin Mastercard Rewards Card

Benefits

3% cashback on

·       Online/e-commerce

·       E-wallet top-ups

·       Auto-billing

Cashback capped at RM80/month, with no minimum spend requirement

3x rewards points on

·       Dining

·       Groceries

·       Petrol

No earning caps on rewards points.

Annual Fee

RM75. Waived for the first three years, subsequently waived with 12 retail transactions of any amount

RM75. Waived for the first three years, subsequently waived with 12 retail transactions of any amount

SST

RM25

RM25, absorbed by Affin Bank for the first year

Income requirements

RM24,000 per annum or RM2,000 per month

RM24,000 per annum or RM2,000 per month

Affin Visa Cash Back Card: A Highly Rewarding, Versatile Cashback Card

The Affin Visa Cash Back Card offers 3% cashback on online, e-wallet, and auto-billing transactions. While the 3% rate may not seem very outstanding, there are several things about the Affin Visa Cash Back Card that make its cashback benefits worthy of the buzz.

For starters, the cashback is capped at a highly generous RM80 per month, which makes this the credit card with one of the highest cashback caps in Malaysia. Moreover, the Affin Visa Cash Back Card does not come with any minimum spend requirements or cashback tiers, so you don’t need to figure out what the effective cashback rate is – or be tempted to spend more than you usually do. You’ll earn cashback for every Ringgit spent up to RM2,667 each month, on the three categories – this means you can earn up to a whopping RM960 a year by using this credit card. It’s simple, straightforward, and more importantly,
rewarding.

It’s interesting to note that Affin Bank has paid particular attention to the e-wallet spend category, listing as many as twenty e-wallets eligible for cashback – from the big players like GrabPay, Touch ‘n Go eWallet, Boost, and BigPay, to much smaller e-wallets like Mcash and Sarawak Pay. It appears Affin is explicitly telling you to use this card for e-wallet reloads and enjoy the generous cashback – unlike other banks.

Meanwhile, auto-billing transactions cover utility bills, telco bills, insurance payments, and online monthly subscriptions like Spotify and Netflix. Once again, the Affin Visa Cash Back shines – the inclusion of utility bills is a big plus as there are only a handful of credit cards that offer reliable rewards for utility bills these days. Furthermore, the high amount of cashback awarded is especially useful here as monthly bills tend to take up a big chunk of one’s expenses.

It’s worth noting that for cards that offer cashback for auto-billing and utilities – and in fact, online and e-wallet transactions – this Affin card currently has the highest monthly cashback cap among all credit cards in Malaysia. We haven’t seen such a generous cashback card since the
Hong Leong Wise
 before its revision in July 2019 (
previously
 RM100 cap with minimum spend RM2,000) or the old
Standard Chartered JustOne Platinum
 (
previously
 RM85 cap with minimum spend RM2,500). In fact, the Affin Visa Cash Back is an even better card: the previous versions of the two cards also came with high minimum spend requirements. Moreover, the Hong Leong Wise didn’t offer cashback for online spend, and the JustOne Platinum has cashback tiers. The Affin Visa Cash Back Card truly has it all: a great combination of cashback categories, no minimum spend requirements, no cashback tiers, and a high monthly cashback cap.

Affin Mastercard Rewards Card: Moderate Returns

Meanwhile, the Affin Mastercard Rewards Card is equally straightforward, offering 3x rewards points on dining, groceries, and petrol – and 0 points for other transactions. There is no limit on the number of points you can earn, so big spenders don’t have to worry about hitting a cap each month. Affin Rewards Points expire three years from the points issuance date, which is standard for most credit cards. You can use these points to redeem the usual items and vouchers from the rewards catalogue, or for air miles (Enrich, Malindo, and AirAsia BIG Points).

However, even with the 3x multiplier the Affin Rewards Card isn’t as rewarding as its other half. It takes 30,650 points to redeem a RM50 voucher – which equals to RM10,216.67 of spending on your card – which translates to a paltry 0.49% rate of return. To make a rough comparison, claiming the same voucher using the
Maybank 2 Cards
 yields a rate of 0.78% on the American Express (5x points). With the
HSBC Platinum Mastercard
, the rate of returns works out to 1.0% for 5x points on online, overseas and groceries expenses and 1.6% for 8x points on contactless spend. Therefore, the Affin Mastercard Rewards Card doesn’t offer too low a rate of returns as far as rewards cards go, but neither is it the best in the market.

Likewise, you will find that for
air miles redemption
, the Affin Mastercard Rewards Card is quite average too. The redemption rate for 1,000 Enrich Miles is 12,000 Affin Rewards Points, so you can claim 1,000 miles for every RM4,000 you spend using your credit card. This translates to an air miles conversion rate of RM4 per 1 Enrich Mile. That’s around the same range as popular air miles cards such as the
Citi PremierMiles
 and
Standard Chartered WorldMiles
 – still, not too bad for an entry-level card with no maximum points cap per month.

That said, you’re limited only to three airlines for redemption, and two of the three (Malindo and AirAsia) do not have extensive destinations, making this quite a drawback. In addition, there are similarly accessible credit cards such as the
Maybank 2 Cards
 and
CIMB e Credit Card
 which offer a conversion rate of RM2 (for Amex) and up to RM0.83 per 1 Enrich Mile respectively.

One last thing to note is that the categories of spend covered (petrol, dining, and groceries) are commonly considered basic expenditure for the average Malaysian household member. However, the popularity of these categories may actually score a negative mark for the Affin Mastercard Rewards Card, as there are many
cashback credit cards
 catered to these types of spend
with better returns
. As we’ve seen from the calculations of returns above (0.49% effective), it is likely that you will find cashback rates that offer better value.

Affin Duo vs The Competition

The Affin Duo isn’t the first pair dual credit cards in Malaysia, so how does it measure up against other duos in the market like the
Maybank 2 Cards
 and the
Public Bank Quantum cards
? At first glance, some may give the Affin Duo a pass due to its “low” 3% cashback rate compared to these other cards, but let’s take a deeper look and see.

Like the Affin Duo, only one of the two
Maybank 2 Cards
 bundle offer good benefits. The Maybank 2 American Express offers 5% cashback on all weekend retail spend, capped at RM50 a month. Despite its lower cashback rate, we think the Affin Duo has the stronger cashback benefits here. With the Maybank 2 Amex, you can only earn cashback on the weekends and at merchants that accept American Express. Moreover, the overall cashback given is lower, and Maybank doesn’t give benefits on any of its credit cards for
e-wallet top-ups
 – which is honestly a
major
 drawback. However, when it comes to the rewards points, the Maybank 2 Amex win out with its 5x multiplier on almost all retail spend – mostly due to its airmiles conversion rate which we’ve covered above.

The Affin Duo’s biggest contender is probably the
Public Bank Quantum
, which consists of a Mastercard offering 5% cashback for online transactions and a Visa card offering 5% on contactless transactions. With a monthly cashback cap of RM30 per month on each card, you can earn up to RM60 in cashback for up to RM1,200 worth in spending across both cards.

As you can earn cashback for some e-wallets with the Quantum Mastercard too, the Public Quantum quite closely matches the benefits of the Affin Duo, and is a better choice for those with relatively low monthly spending. While the Quantum cards don’t offer cashback on auto-billing, the Quantum Visa does give cashback for contactless spend, which is great for those who prefer to just tap and go for their daily expenses rather than fumble with e-wallets. However, do note that your contactless transaction must be a minimum of RM30 to be eligible for cashback, and the Quantum Visa does not give cashback for petrol transactions even if you pay by contactless methods.

Of course, if you’re great at card management, having a combo of the Public Bank Quantum Mastercard and an Affin Visa Cash Back could be extremely rewarding for high spenders. By spending on the Quantum Mastercard on the first RM600 and then switching to the Affin Cash Back Card for online spending, you could actually earn RM110 in cashback for RM3,267 in spending each month!

Verdict: A New Cashback Champion

Affin Bank has surprised everyone with the Affin Duo. Out of the blue, the bank can now lay claim to having some of the best cashback credit cards in town. Besides the Affin Duo, there’s the
Affin Visa Signature
 and its 3% cashback for contactless transactions with an equally generous RM80 cashback cap. Thanks to the synergy shared between the three cards (the Affin Visa Signature also has
a similar translucent card design
), it even created a “Affin Trio” moniker, a credit card combo that rewards online and offline transactions.

As for the Affin Rewards Mastercard, even with its 3x rewards points multiplier, we’ve shown above that it is easily blown away by other cashback or rewards cards.

But, it doesn’t take away the fact that it’s worth getting the Affin Duo just for the cashback half, which is a solid credit card that wholly justifies the hype it received. The Affin Visa Cash Back Card is a very appealing “online” cashback card, rewarding you for almost everything you spend online – not just on e-commerce but also on e-wallet reloads and utility bill payments, which are two extremely rare categories to earn cashback from. Combine that with the generous cashback cap, zero minimum spend requirement, and straightforward nature, and you have a genuinely rewarding credit card.

Apply for the
Affin Duo
 today.

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Jacie Tan

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    Danny Ooi

    2 years ago

Best Deal…right combination for potential customers!

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    ANAND

    2 years ago

IWISH TO APPLY CREDIT IN AFFIN BANK

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Jack Ma Opens First Alibaba Southeast Asia Office In Kuala Lumpur

Alibaba Group, one of the ten biggest and most valuable companies in the world, has taken root on Malaysian soil. The Chinese conglomerate behind the popular online shopping website Taobao has opened its first Southeast Asian office in Kuala Lumpur. The office will also act as Alibaba’s first Electronic World Trade Platform (eWTP) facility outside China.

Located in Bangsar South, the office was officially opened yesterday (18 June) and was officiated by Jack Ma, co-founder and executive chairman of the company. The event was also attended by Finance Minister Lim Guan Eng, Communications and Multimedia Minister Gobind Singh Deo, as well as Chinese ambassador Bai Tian. Ma also took the opportunity to meet the new Prime Minister, Datuk Seri Dr Mahathir Mohamad, before the event.

With its presence here, Alibaba is looking to enable the growth of small and medium enterprises (SMEs) and create more employment opportunities in Malaysia. “Alibaba is committed to improving the digital economy of Malaysian entrepreneurs who want to change their business concept in order to enhance their business internationally,” said Ma during his speech. He also mentioned that the new office will function as a training centre.

To mark the occasion, Alibaba has launched a Malaysia Week online promotion from 6–12 July with the aim of highlighting Malaysia’s tourism attractions and products to Chinese customers. The campaign will showcase over 50 Malaysian brands across a wide range of categories on Alibaba’s platforms.

The above initiatives are part of Alibaba’s strategic partnership with Malaysia and its ongoing commitment in expanding digital economy in the nation and region, with Ma speaking confidently of a sustained trade relationship between Malaysia and China. Looking ahead, Finance Minister Lim Guan Eng said that Alibaba’s continued initiatives in the country would open new investments, new job opportunities, and boost the local economy.

(Sources:
New Straits Times
,
The Star
)

(Image:
Lowyat.NET
)

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Why Are People Still Using Chequebooks?

A person pulling out their chequebook, a pen, and putting their signature down to pay for something is an increasingly rare sight. While many of us may be paid in cheques, we’re sure that even fewer of us use them in our day-to-day transactions.

Why would we, right? We have debit cards,
credit cards
, mobile banking, and many other cashless technologies to use when we run out of paper money. So why would people still use cheques? Let’s do some digging and get to the bottom of this mystery!

Good Reasons Not to Use a Cheque

Before we get to the reasons people might use a cheque, let’s see the reasons why most of us don’t:

We’re Going Paperless

Who uses paper anymore? We read things on our tablets, doodle on our smart devices and even manage our money with our phones. A paper cheque can tear or get damaged before its cashed in. Why invite the risk?

It’s a Hassle

You need a pen, a stable surface to scribble on, and legible handwriting. In a time where we’re more likely to have excellent typing skills than penmanship, the act of writing a cheque can be finicky and tedious.

We Have Alternatives

As mentioned above, there are many other much simpler ways to transfer money aroudn. Debit cards,
credit cards
, fund transfers, and other cashless solutions make it difficult to rationalise the use of flimsy paper cheques.

But People Still Use Cheques!

Despite the reasons not to, there are still many who use cheques to conduct their transactions. As it turns out, chequebooks have quite a few significant advantages over other forms of payment.

You Can Give It To Anyone

Cheques can be cashed out by anybody, regardless of whether or not they have the same tech as you do. Not everybody has the same devices, bank accounts, and apps as we do. With a cheque, you avoid this technology problem altogether and anybody you need to pay gets paid.

You Can Post-Date It

To manage payments better, you can make it so it’s only taken out of your account at a certain date. This means people get paid even if you haven’t yet and you don’t need to worry about not having the funds right away.

Better Black and White Record

Every time a cheque you rip off a cheque from its book, you leave a stub. This allows for easier bookkeeping and record keeping, especially for businesses. Digital records can get corrupted or hacked into, but good ol’ paper stubs are still an excellent way to keep an account of what you do with your money.

Easier Regulation

In financial departments of certain companies, payments by cheques go through a few levels of approval before being issued and sent out. This process allows greater control over expenditure and decreases the chances of fraud or errors.

Can be Personalized

For certain businesses, cheques are a marketing tool to reach out to clients, suppliers and others by incorporating their company information and logo. It can also make financial transactions more warm and personal.

As you can see, there are many reasons people stick to using this familiar and trustable payment system, even in this age of online banking and credit card swiping. If you are a fan of chequebooks and cheques in general, here are some of
the best current accounts
 in Malaysia for you to compare and choose. Have anything to add to this article? Do share your thoughts with us in the comments section down below!

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MOF: BNM Is Adopting A Balanced Approach In The Admission Of Digital Banks

(Image: Bernama)

Deputy Finance Minister II, Mohd Shahar Abdullah, has emphasised that Bank Negara Malaysia (BNM) is adopting a balanced approach in the matter of establishing the country’s digital banks. This is to enable the setting up of digital banks with strong value propositions and the ability to preserve the integrity and stability of the financial system.

“Through this approach, BNM sets the cumulative asset threshold that can be generated by digital banks of not more than RM2 billion in the initial three to five years of operations. The foundational phase aims for digital banks to demonstrate their viability and sound operations, while BNM monitors their performance and any attendant risks,” said Shahar during a Dewan Negara session.

Aside from the cumulative asset threshold requirement, Shahar said that digital banks will also need to comply with the Financial Services Act 2013 or the Islamic Financial Services Act 2013. These include abiding by standards on prudential business conduct and consumer protection, as well as anti-money laundering and terrorism financing.

Shahar also noted that during the foundational phase, licensed digital banks will be subjected to a more simplified regulatory requirement with regard to their capital adequacy, liquidity, stress testing, and public disclosure. “This is in line with the objective to encourage growth and innovation by digital banks, especially to increase financial access to segments that are lacking or do not have financial services,” he added.

Shahar had been referencing an
exposure draft on licencing framework for digital banks
 that was released by BNM earlier this year. The draft was open for negotiation and feedback until 30 June 2020. BNM is currently reviewing the responses obtained during the negotiation period, and will finalise the digital licencing policy document before opening applications for the licence.

(Source:
Bernama
)

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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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AmBank Credit Cards Helping You See Clearly Now

The Tun Hussein Onn Eye Hospital is now offering AmBank Credit Cardmembers the option of getting Lasik surgery at a discounted price and on an easy payment scheme. The laser surgery is for vision correction, ensuring you never have to worry about glasses or contact lenses again.

Usually the procedure for both eyes cost RM7600 but for AmBank Cardmembers the price is RM5800 and available on a 0% interest easy payment scheme for 12 months at RM483 per month.

Offer is valid until 31 August 2013 for AmBank or Am-Islamic cardmembers. Minimum of 3 days prior booking is required. Do call 603-2178 8888 for more information.

Terms and Conditions
 apply.

Don’t have an AmBank credit card? Check out
RinggitPlus credit card comparison
 tool and apply online.

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TrueMoney Can Now Be Used At myNEWS and CU Mart

Ascend Money subsidiary, TrueMoney Malaysia has expanded the use of its e-wallet to include convenience stores myNEWS and CU Mart outlets. With this, TrueMoney users can now transact at about 10,000 merchants and over 25,000 payment points.

In a statement, TrueMoney said that this move will allow its users to conveniently shop for a wide range of items and daily necessities, including food and beverages, as well as personal care products. They’ll also get to enjoy various promotions offered via the collaboration, such as instant cashback and giveaways.

“We are actively expanding TrueMoney’s coverage in Malaysia, connecting with more local and international merchants. Our aim is to become a preferred choice for digital purchases, providing Malaysian customers with an enhanced experience at our merchant payment points. With our in-app instant cashback and payment convenience, customers can enjoy a seamless and rewarding digital transaction experience,” said the country managing director of Ascend Group, Jessie Chong.

Founder and group chief executive officer of myNEWS Malaysia, Dang Tai Luk also said that the partnership is in line with the company’s aim to bring convenience to its customers. “Both TrueMoney and myNEWS share this goal and this shared commitment to customer-centricity is what makes our partnership with TrueMoney so promising,” he shared.

For context, TrueMoney was first established in Thailand in 2003 under Ascend Money, which was itself a subsidiary of Thailand conglomerate Charoen Pokphand (CP) Group. Since then, it has expanded to seven countries –
with the latest being Malaysia
 in early 2023 – and has also been accepted as a payment option by several brands locally, including Lotus’s Malaysia, Tealive, and Super Dining Group (which runs various Japanese restaurants, including Rakuzen and Sushi Zanmai).

Meanwhile, myNEWS entered into a licence agreement with South Korea’s convenience store operator, BGF Retail Co Ltd in mid-2021 to
bring its sub-franchise CU Mart to Malaysia
.

(Source:
TrueMoney
)

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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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    Inchunchia

    1 month ago

Thanks u

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iPad Mini Giveaway by RHB-Old Town

Receive a complimentary cup of Old Town’s signature white

coffee when you spend at least RM30 on your RHB credit card or debit card.

Furthermore in conjunction with RHB’s
iPad

Mini Giveaway
 contest, one iPad Mini worth RM999 will be given away each

week starting from 15 May till 14 August 2013.

Qualifying credit card and debit cardholders who spend the

minimum amount of RM30 in a single receipt at any Old Town White Coffee outlet*

will be randomly selected for the weekly prize. The method of selection is at

the sole discretion of RHB. Each cardholder is eligible to receive only one

prize throughout the promotion period.

Please note that the complimentary Old Town white coffee

promotion is still applicable after the iPad Mini Giveaway contest has ended

and will run until 31 December 2013.

For specific details on both promotions please refer to the
Terms

& Conditions
 and
FAQ
.

*
Promotion is not

valid at the following outlets : All Airports, Legoland, KLCC, Menara MBC, BU8

and Genting Highlands

RinggitPlus.com is your one-stop site for all your credit

card needs. Find the right card for you
here
.

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HappyFresh Officially Announces Exit From Malaysia, Effective Immediately

Online grocer HappyFresh has officially announced that it is ceasing operations in Malaysia, effective immediately. This came following a period of suspension in service that began at the start of this month.

In a social media post, the online grocer expressed appreciation for its customers’ support over the past seven years, since its entry into the Malaysian market. “Due to the current economic situation, however, we were left with no choice but to cease operations, effective immediately,” it noted in the post, without explaining further.

Earlier this month, HappyFresh was reported to have
temporarily suspended its service
 due to a restructuring exercise. A
report by Bloomberg
 also highlighted that the online grocer was conducting a review of its financial situation, and had faced difficulties in raising additional capital to fund its operations. It also engaged turnaround firm, Alvarez & Marsal Holdings LLC, for assistance.

Fast forward to today,
DealStreetAsia
 reported that HappyFresh has successfully raised fresh funding to continue its service. While details on the new funding were scarce, the online grocer said that it has decided to scale down and will only resume operations in its biggest market, Indonesia. Aside from Malaysia, it will also be exiting Thailand.

HappyFresh was founded in Jakarta in 2014, and entered the Malaysian market in early 2015. Since then, it has expanded to hire over 850 employees.

(Source:
HappyFresh
)

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Why Aren’t More Malaysians Covered By Life Insurance?

Buying a life insurance policy as soon as we are able to is a responsibility that most Malaysians fail to accomplish. This important step to secure the long-term livelihood of our loved ones is often rejected due to a variety of reasons.

According to the Life Insurance Association of Malaysia (LIAM), only
12.6 million Malaysians are currently covered by life insurance
 policies in 2017, a figure which only grew by a paltry 0.1% from 2016. While growth is still positive, another statistic should give Malaysians a bit of food for thought: the sum assured per capita is an average of RM42,992 in 2017 (the sum assured is the minimum guaranteed payout that the policyholder will receive should the he/she passes away).

If that amount looks too low to sustain the livelihood of those who depend on you, that is also statistically correct. In a press release,
LIAM noted that
 “based on 2012 Underinsurance Study in Malaysia undertaken by University Kebangsaan Malaysia and LIAM in 2013, the average mortality gap for each member of a family is about RM100,000 to RM150,000.”(the mortality gap is essentially the difference between the amount of sum assured and the actual amount they need to sustain surviving loved ones.)

Clearly, there is a disparity between the benefits of life insurance and the perception of it in the consumer’s eye. So, why is this happening?

Perception: life insurance is too expensive.

Reality:

This is easily the most common preconception about life insurance, not just among Malaysians, but around the world. For the low- and middle-income earners, many find it difficult to take on an additional monthly expenditure that will likely already be burdened by monthly loan repayments for car, property, and education. Young families will be even more hard-pressed, with infant-related expenses to consider. As a result, life insurance is considered a “luxury expense”.

The fact is that life insurance policies can be scaled based on the individual’s salary range as well as sum assured. There are policies that can go even below RM3 a day, while providing five-figure guaranteed coverage. That’s lower than what you pay for a plate of “Maggi goreng”, and less than half the price you pay for a cup of bubble tea. And, many don’t consider that as we grow into new jobs and larger salaries, we can opt to buy additional policies with larger guaranteed payouts and benefits.

For example, the Zurich SureCover policy can be subscribed at a monthly premium from just RM75 per month, but guarantees up to 500% of the basic sum assured should the life assured suffers an accidental death. It’s also got a unique Guaranteed Acceptance feature that provides coverage for life assured from age 35 until 80 years old. On the other hand, should the life assured lives on to 100 years old, the policy will mature and offer a lump sum payout of 188% of the total premiums paid.

Perception: I have no time, and complicated language makes it so difficult to understand!

Reality:

In the daily hustle, having someone stop you to talk about life insurance will surely seem like a hindrance. And because this isn’t something that most Malaysians talk about regularly, it slowly becomes something that we promise we’ll look into “when there’s time”. After all, insurance agents always take so much time explaining the policies that takes time to digest and understand!

However, ensuring that your loved ones will be well taken care of financially if something were to befall you should always be something to prioritise. Life insurance isn’t as complicated as it is made out to be. Once you understand the jargon (which most agents will happily explain), the process gets easier in future; almost like riding a bike.

On top of that, it is in the insurer’s best interests to make its policies as clear as possible. Not only will this help the policyholder understand better, it also prevents future issues should there be any disputes over claims and payouts.

A good example is in the Zurich FlexiLife Premier life insurance policy. At face value, the huge list of features and benefits make it look very daunting, but if you take time to go through them (maybe even with the help of an agent), you’ll find that this is one of the best policies in the country. It offers high coverage with a high non-medical limit of up to RM2 million (a non-medical policy doesn’t require a medical test when issuing), total permanent disability (TPD) coverage of up to RM8 million, infectious disease coverage, an additional RM25,000 coverage every five years at no cost, and plenty more.

Perception: “Young people don’t need insurance”, “My company has insurance coverage”, etc

Reality:

Besides being too expensive, there are several other popular misconceptions about life insurance policies. Some may say that if they are young and healthy, they have no need for life insurance. Others may feel that life insurance should only be for the older folk. Finally, another common reason for not taking life insurance is that they are already covered by his or her company.

The irony is that the truth is quite the opposite. It is better for those who are young and healthy to buy a life insurance policy as soon as possible, because it is much cheaper for them to do so in the long run. Buying a policy when a person is already old or has health complications increases the monthly premium that is required to stay covered. Finally, having insurance coverage as an employee is an added bonus
while
 you are with the company; it is very likely that the policy will not cover you when you depart the company.

Perception: Riders are unnecessary and add additional costs to the policy.

Reality:

A rider is a provision to an insurance policy that generally adds to the coverage of the policy – at an additional cost. Most policyholders generally avoid taking on riders as they may consider the policy’s coverage to be “good enough”. In truth, a rider complements a policy by meeting a policyholder’s specific needs.

For example, if you’ve already got a good policy with great coverage like the
Zurich FlexiLife Plus
, adding a rider such as the
Zurich MegaMed rider
 makes a lot of sense, because it offers additional benefits on top of your existing Zurich life insurance policy. It not only offers a high annual limit of up to a whopping RM2,250,000, it also has an extensive range of benefits for medical costs incurred as both in- and out-patients, which include up to RM380 Daily Hospital Room and Board limit, surgical fees, kidney dialysis treatment, as well as emergency accidental out-patient treatment. There’s even coverage for out-patient dengue treatment and overseas medical treatment –benefits and features unique to this rider.

Life insurance isn’t a luxury, but a necessity

Life insurance isn’t some necessary evil that we have to pay our dues to every month. It is actually an essential part of adulthood, and a responsible act to ensure the comfort of our loved ones if the unexpected happens.

Stay protected with Zurich’s extensive range of life insurance policies, with varying premiums to cater to various income levels. For more information, check out the
Zurich Flexilife Plus
,
Zurich MegaMed rider
, and
other Zurich life insurance plans
.

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PRUCash Enrich Offers Savings With Yearly Guaranteed Cash Payout

Setting a goal helps us navigate our next move in life. A specific goal with a well-thought plan motivates us to get further while also preparing us for an unexpected event – especially when it comes to
saving money.

For example, your goal may be to give your
child a quality education
or to have your dream retirement in the Maldives. To achieve it, you will need a plan that allows you to accumulate the required amount of money in a certain period while also ensuring that your child will still receive the said education in case anything happens to you, or that you remain healthy to enjoy your time in the Maldives.

PRUCash Enrich
is one of such plans.
PRU
Cash Enrich is a savings plan that gives you the flexibility to choose your policy and premium payment terms with a lump sum maturity benefit payout with potential upside to give you peace of mind and protect your family’s financial future should anything unexpected happens along the way.

Find out how
PRU
Cash Enrich can help support your long-term goal by reading the infographic below.

***

Saving may come with its challenges but it is easier when you have a specific goal in mind and a plan that allows you to be consistent while taking into consideration your current financial state.

Children and adults aged from as young as 14 days to 70 years old can sign up for the
PRU
Cash Enrich and enjoy
long-term savings benefits.
This plan also offers guaranteed acceptance without the need to go through underwriting unless waiver rider(s) is attached.

So, if you’re looking for an insurance savings plan that gives you yearly guaranteed cash payments, find out more about
PRU
Cash Enrich
here.

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KKD Minister: Govt Introduces Unity Package Prepaid Mobile Internet Plan

(Image: Malay Mail/Shafwan Zaidon)

Communications and Digital (KKD) Minister Fahmi Fadzil announced that the government will introduce a new prepaid mobile internet plan that is priced lower than other existing plans on the current market. Dubbed the Unity Package, it seeks to help targeted groups cope with the rising cost of living, and is set to be rolled out starting from February 2023.

“The prepaid package will be offered at the price of RM30 with 30GB of data for six months, with a speed of 3Mbps. Users will enjoy 50% savings compared to the existing package, which is from RM10 to RM5 per month,” said Fadzil, adding that the Unity Package is meant for youths, the B40 income group, senior citizens, disabled individuals, and veterans.

To clarify, the new Unity Package is actually an upgrade of one of the Keluarga Malaysia telco plans, which consisted of Pakej Remaja Keluarga Malaysia (for teens and university students) and Pakej Peranti Keluarga Malaysia (for households). Specifically, the Pakej Remaja Keluarga Malaysia offered 20GB of data for three months at the price of RM30, with a data speed of 1Mbps.

[KENYATAAN MEDIA]
𝐏𝐀𝐊𝐄𝐉 𝐏𝐄𝐑𝐏𝐀𝐃𝐔𝐀𝐍 𝐏𝐑𝐀𝐁𝐀𝐘𝐀𝐑 𝐈𝐍𝐓𝐄𝐑𝐍𝐄𝐓 𝐌𝐔𝐃𝐀𝐇 𝐀𝐋𝐈𝐇 𝐃𝐈𝐋𝐀𝐍𝐂𝐀𝐑 𝐃𝐄𝐍𝐆𝐀𝐍 𝐇𝐀𝐑𝐆𝐀 𝐋𝐄𝐁𝐈𝐇 𝐑𝐄𝐍𝐃𝐀𝐇 𝐔𝐍𝐓𝐔𝐊 𝐆𝐎𝐋𝐎𝐍𝐆𝐀𝐍 𝐁𝐄𝐋𝐈𝐀, 𝐁𝟒𝟎, 𝐎𝐊𝐔, 𝐖𝐀𝐑𝐆𝐀 𝐄𝐌𝐀𝐒 𝐃𝐀𝐍 𝐕𝐄𝐓𝐄𝐑𝐀𝐍
pic.twitter.com/Tp4V2Ytbrb
— KKMM (@kkmm_gov)
December 21, 2022

Fadzil also clarified that the latest initiative is made possible with the cooperation of major telcos in Malaysia – namely CelcomDigi, Maxis, U Mobile, Telekom Malaysia, and YTL Communications – and that the RM30 Unity Package is only the basic package. “It is up to service providers to offer any add-ons,” he stated, saying that the service providers will announce more details soon.

“The price reduction clearly proves that the government pays serious attention to the needs of the people to enjoy telecommunications services at a lower and more affordable price,” Fadzil further said.

In addition to revealing the Unity Package, the minister hinted as well that there are more “good news” to be announced in the future, especially with regard to fixed broadband users. “There are things in the pipeline, but we will wait for the right time to announce them,” he said.

(Sources:
KKD
,
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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Budget 2021: Government Allows Targeted EPF Akaun 1 Withdrawals

In response to mounting pressure from members of the
Malaysian public
, the government has decided to allow targeted Employees Provident Fund (EPF) contributors to make withdrawals from their EPF Akaun 1.

“Targeted EPF contributors are allowed to withdraw RM500 a month for up to RM6,000 for 12 months,” announced Finance Minister Tengku Zafrul Aziz during the tabling of Budget 2021. “This withdrawal is to help EPF members who have lost their jobs and is estimated to reduce the financial burden of 600,000 affected contributors.”

When announcing the initiative, the finance minister said that he was sure this announcement was one that was
much-anticipated
.

“Taking into account the earlier
i-Lestari programme
 announced in March and the latest Akaun 1 withdrawals now, the cash withdrawal allowed for each contributor is up to RM12,000. It is projected that the withdrawals from Akaun 1 overall will involve a total of RM4 billion.”

Eligible EPF members can start applying to make their Akaun 1 withdrawals starting from January 2021.

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The Many Ways You Can Fund Your Continuing Education

If you just finished SPM or are maybe thinking about doing your postgraduate studies, one of the important things that’s probably at the front of your mind is how to fund your continuing your education. There are plenty of ways to go about doing this, so we thought it would be helpful to list them all out in this article as a handy guide for your reference!

PTPTN Loan

Aside from having good SPM results (3 credit minimum) and choosing a course of study that’s approved by the Ministry of Higher Education, this popular study loan also requires you to have an SSPN (Skim Simpanan Pendidikan Nasional) account with a minimum amount saved. The drawback of this loan is that it may only provide
a percentage of the tuition fees you need
 depending on your household income. It’s low interest rate of 1% however is still quite attractive and you can elect to repay this loan using your EPF money.

MARA Loan

While the Majlis Amanah Rakyat student loan can be quite helpful and appealing, unfortunately this is only available for bumiputra citizens of Malaysia. Which means it is out of reach of everyone who needs financing. Still a good option if you’re eligible for it of course.

Skim Prihatin Pendidikan 1Malaysia (SPP1M)

This one is referred to as a top-up based scheme to be applied for on top of the funds you may already have. It’s intended use is as additional financial aid. In fact, one of its requirements is that the first semester of your course
must be paid for and completed
. Still a helpful funding scheme if you can already afford at least a little bit of your course’s tuition costs.

Personal Loan

Some banks offer a subcategory of personal loans they dub ‘study loans’. Most of these products however tend to target the more affluent segment of the market. One such study loan (via
OCBC Bank
) offers an amount that’s double the fixed deposit amount you have with them. Which means you need to already have half of the cash needed before you can be loaned the full amount. That’s quite steep. But if you can afford it, these types of study loans from banks can definitely help.

Scholarships

The previous options thus far has required you to borrow money, but with scholarships, you don’t need to. Many bodies and institutions give out scholarships when they see a need in a particular field of study or industry and are willing to support it. While scholarships do have their own criteria and requirements to be fulfilled, the major advantage of not having to think about repaying loans is still a huge plus.

Although finding scholarships and applying or qualifying for them is not necessarily easy, thankfully we now have ‘the first of its kind’ Scholarship Fair 2017 happening on the 22nd of April later this month. Register for the fair at
www.scholarships2u.com/fair
. Scholarships2u.com is a one-stop gateway for scholarships worldwide.

This year, they have world-class institutions from Australia, Dubai, Grenada, Switzerland, Spain, the United States, and the United Kingdom in addition to our local universities. Not only do you get to see (and apply to) all the available scholarships out there, but you also get to meet with the people representing their institutions for a more personal feel.

There may be other ways to get money for funding your further studies but we feel these five are the most practical for the average reader and potential scholar. Do you know of any other good ways to fund your continuing studies? Do share your thoughts and ideas with us in the comments section down below!

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Maybank Rolls Out Flexible Retirement Solution, With Projected Returns Of 6% To 8% p.a.

Maybank Asset Management Sdn Bhd (MAM Malaysia) has rolled out its new Maybank Flexible Retirement Solution, which gives Malaysians the liberty to plan their retirement based on the various stages of their life and financial goals, instead of just age.

The retirement solution – which has a projected return of 6% to 8% p.a. – offers two complementary global shariah-compliant mixed asset funds, namely the Maybank Global Wealth Moderate-i Fund and the Maybank Global Wealth Growth-i Fund. As you invest, you’ll also have the flexibility to choose and switch between the Moderate or Growth portfolio and share classes at any time to cater to your changing lifestyle and retirement needs. You can even choose a combination of both funds if you prefer.

Here’s a table to give you a better idea as to how the Maybank Global Wealth Moderate-i Fund and the Maybank Global Wealth Growth-i Fund complement each other:

Maybank Global Wealth Moderate-i Fund
Maybank Global Wealth Growth-i Fund
Projected returns
6% p.a.
8% p.a.
Benchmark
Maybank 12-month MYR Islamic FD rate + 3%
Maybank 12-month MYR Islamic FD rate + 5%
Investment objective
Seeks to achieve capital growth with targeted regular payouts of 2% p.a to 2.5% p.a.
Seeks to achieve capital growth by capturing opportunities in shariah-compliant equities
Share classes
1) MYR (Hedged) – Accumulation Class
2)  MYR (Hedged) – Distribution Class
MYR (Hedged) – Accumulation Class

To clarify, the Accumulation Class and Distribution Class in the above table refers to how you wish to treat the income earned. If you opt for Accumulation Class, your income and capital gains will be reinvested into the fund to earn compounded returns. Meanwhile, Distribution Class will offer regular payouts to provide you with passive income. Note as well that neither of the funds above are Private Retirement Scheme (PRS) funds.

MAM Malaysia further shared that both funds incorporate dynamic asset allocation and downside risk management approach, which is key in offering stability for investors when they save for retirement in the medium to long term. Applying shariah filters to the investment process also ensures that the funds will be able to tap into better quality assets.

(Image: The Star)

The chief executive officer of MAM Malaysia, Ahmad Najib Nazlan reiterated that retirement planning should not be an issue that Malaysians think about only when they’re older, especially given the rising cost of living and inflation. He also stressed that planning for retirement should start whenever an individual is ready, regardless of his or her stage of life.

“The beauty of Maybank’s Flexible Retirement Solution is that we have reframed the traditional age-based approach to retirement planning and made it appeal to a wider audience segment by designing a solution based on understanding and targeting their various life stages, time horizons, and financial goals,” Najib further said, adding that investors of different segments will have the freedom to choose the levels of risk that they wish to take, and to decide on how their retirement planning should fit with their goals and needs.

(Source: Maybank Asset Management [
1
,
2
])

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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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    Ismail Bin Hamid

    1 year ago

Untk apa ye

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Former BNM Deputy Governor: Currency Peg Could Push Malaysia Into Financial Crisis

(Image: The Star)

Former Bank Negara Malaysia (BNM) deputy governor, Dr Sukudhew (Sukhdave) Singh has come forward to caution that pegging the ringgit to the US dollar could push the country into a financial crisis. This includes repercussions such as the emergence of a black market for the US dollar, as well as currency speculation.

According to Dr Sukudhew, the decision to implement a currency peg will have significant consequences for the nation’s financial markets, and as such, cannot be taken lightly.

“Now that the US dollar is strengthening against many currencies, including the ringgit, we are once again hearing local calls for the central bank to peg the ringgit to the dollar. What they (those who moot the idea) often forget to mention is that once we have pegged the ringgit to the US dollar, we will have to defend that peg,” said Dr Sukudhew in a post on his official LinkedIn account.

Dr Sukudhew explained that once a currency peg is implemented, BNM and Malaysia’s financial system must ensure that it is capable of meeting the public’s demand for US dollar at the pegged exchange rate. “If that demand cannot be met, a black market for US dollar will develop, undermining the official peg,” he said.

Additionally, Dr Sukudhew said that a currency peg may invite currency speculators to test the exchange rate peg, while residents and non-residents will also attempt to bet against the peg. “In all cases, the central bank will have to back the peg by intervening with its foreign currency reserves. So, it had better have a lot of reserves because it is going to need them to defend the peg,” he stated.

Earlier this month, former prime minister Tun Dr Mahathir Mohamad had suggested for the Malaysian government to address the ringgit’s current fluctuation by
reimplementing a currency peg
. This method was once used by Tun Mahathir in 1998 to alleviate a similar situation during the Asian Financial Crisis (AFC), with the ringgit pegged to the US dollar at a rate of RM3.80. The peg was eventually removed in 2005.

In his post, Dr Sukudhew stressed that the currency peg implemented during the AFC had only been successful because BNM also announced accompanying constraints to sidestep all the above complications. These include the introduction of capital controls to limit capital outflows, as well as the demonetisation of the RM500 and RM1,000 currency notes to address speculation and capital flight.

On top of that, Dr Sukudhew remarked that Malaysia’s first currency peg was only sustainable because the country had a large current account surplus post-1998. The surplus was obtained via the sharp depreciation of the ringgit back then, as well as a strong global demand for Malaysia’s exports.

“Without that strong current account surplus providing foreign currency inflows, it is doubtful that Malaysia would have been able to maintain the peg for as long as it did (seven years). So, for those calling for a currency peg, I say be careful about what you wish for,” Dr Sukudhew warned.

(Sources:
Dr Sukudhew Singh
,
The Edge Markets
)

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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Government Wants More Competition In Pay-TV Market

The pay-TV market in Malaysia could be set for a shake-up soon. According to Communications and Multimedia Minister Gobind Singh Deo, the ministry is open to liberalising the market and allowing competition to flourish.

In an interview with The Malaysian Reserve, the minister stated that he would certainly be looking at the proposals for new pay-TV licenses that have come forward. “I think that is something that is healthy and needed for us to move ahead,” he said.

The introduction of competition into the market would create a more level playing field, with consumers being able to pick the operator of their choice. With more players in the market, service providers would have no choice but to improve their services to outshine the competition.

The Malaysian pay-TV market has been dominated by Astro Malaysia Holdings Bhd since it was founded in 1996. In its Q1 2018 financial report, the company reported that Astro is currently installed in 5.5 million households in Malaysia – which makes up 75% of the nation’s households.

Gobind observed that the single service provider market has resulted in Malaysia being quite far behind in this sector compared to other countries. He believes that a multi-player industry providing different services can up the ante to ensure that Malaysia improves on par with the rest of the world.

The minister will be meeting Astro’s top management next week regarding rising concerns among customers on the TV giant’s services and customer handling. Gobind has asked them to explain why nothing has been done about the issues faced by so many of their customers.

“Why is there no urgency on their part to try and improve things so that they can deal with these problems and solve them?”

Gobind added that pricing would also be part of his discussion with Astro. “That has always been a dicey subject, but again, we have to look at what the other service providers around the region offer and ask them to make comparisons,” he said.

(Source:
The Malaysian Reserve
)

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Income Tax e-Filing For 2020 Starts Today

You can begin filing your income tax returns form for the year of assessment (YA) 2020 from today 1 March 2021. This covers the submission of forms E, BE, B, M, BT, MT, TF, and TP via e-Filing on the Lembaga Hasil Dalam Negeri (LHDN) official website.

The deadline for filing your income tax returns in Malaysia is 15 May 2021 via e-Filing and 30 April 2021 for manual filing, for resident individuals who do not carry on a business (form BE). As for resident individuals who carry on a business (form B), you have until 15 July 2021 via e-Filing and until 30 June 2021 for manual filing. For the full list of deadlines for income tax filing, you can refer to the
LHDN’s schedule
 here.

First-time taxpayers will require a PIN in order to file their income tax forms and this can be obtained at LHDN branches or by filling in the
feedback form
 on the LHDN website. For further enquiries, you can contact the LHDN on the Hasil Care Line at 03-8911 1000 / 603-8911 1100 (overseas) or fill in an
online feedback form
.

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What Can You Do With an Expired Cheque?

You have a huge number of tasks to complete every day; it’s understandable that some things fall though the cracks, like forgetting to pay your cable bill or cashing an odd cheque.

But unlike the cable bill which actually takes money from you, a cheque will send some your way. So what happens when you’ve dragged it for so long that your cheque validity period actually expired and the bank has rejected it?

Let’s take a closer look at the validity of cheques and how you might still be able to get your money.

How Long Does A Cheque Last?

From the date written on the cheque, you will have six months to cash it before it expires. For example, if a cheque has been issued on the 1st of May 2017, you’ll have till the 1st of November 2017 to cash it before it expires.

However, account holders can instruct the bank to shorten or lengthen the cheque’s expiry and actual the duration for the cheque’s validity will be printed on the cheque itself.

After six months or when the cheque expires, you will not be able to cash your cheque successfully.

So What Should You Do With An Expired Cheque?

Well, the most obvious and easiest solution is to ask the cheque issuer to simply write you a new cheque. However, in situations where that is not possible such as if the person issuing the cheque has passed away or if they refuse to repay you, can anything be done?

The short answer is yes. But it might involve you taking the legal route to get your money. While a cheque technically ‘expires’ within a certain period of time, it does remain valid for
up to six years
 depending on the law of the region (e.g. Peninsula Malaysia, Sabah or Sarawak) to prove a debt.

So you can use your physical cheque to prove that a debt is owed to you and go through the courts to get your payment released. Unfortunately, that can be costly, time-consuming and moreover, if the monies owed is just a small amount, it might not be even worth the hassle and cost.

What You Can Do To Avoid Dealing with Stale Cheques

Rather than go through the trouble of legal proceedings or chasing for payment, here are a few smart ideas to stay on top of cheque payments in the future:

1. Cash cheques as soon as you get them.
 It’s a good idea to cash your cheque quickly as you’ll have fewer problems to deal with such as damage to the cheque (where the bank might not accept it) or it being dishonoured due to insufficient funds.

2. Set a reminder.
 If for some reason you are unable to cash your cheque quickly, just program a reminder on your phone to prompt you to cash your cheque before the due date. If you are accepting a personal cheque, do inform the cheque drawer when you intend to cash it as a courtesy and so they’ll ensure that their account has enough funds to allow the cheque to clear.

3. Ask for assistance to cash your cheque.
 If you are overseas or unable to cash your cheque, request for it to be banked in to your account. Of course, the drawer does not have to oblige you but it doesn’t hurt to ask for help when you need it!

4. Request an alternative form of payment.
 Cheques cost money for the issuer, a bit of hassle for you and is environmentally-unfriendly, so if possible, you can always ask to be paid either by bank transfer or cash. This way you won’t need to concern yourself with expiry dates and the like.

Once you’re paid, it’s best to keep your payments in a savings account. If you don’t already have one, it might be high time to finally open an account as there are tons of convenient benefits that you are missing out on!

Check out our
comparison page
 to find a rewarding savings account that is just right for you!

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UOB To Open Application For All Citi Replacement Credit Cards In Mid-July

UOB Malaysia will begin accepting applications for its new credit cards that are meant to replace existing Citi cards, starting from mid-July 2023. Additionally, the card face of one of these Citi replacement cards has also been revealed, namely the UOB Zenith card.

Most Citi credit cardholders will be aware by now that they are set to receive their replacement cards from UOB starting from October 2023, following
UOB’s acquisition of Citi’s consumer banking business in Malaysia
. These include brand new cards – like the
UOB Zenith (replacing Citi Prestige), UOB PRVI Miles Elite (replacing Citi PremierMiles), and UOB World (replacing Citi Rewards World Mastercard)
 – as well as revised and rebranded cards, such as the
UOB ONE Classic and Platinum
,
UOB Preferred
, and
Lazada UOB
 cards.

Now, we’ve been informed by an agent at a UOB credit card sign-up booth that new customers who are interested in any of these Citi replacement cards can also begin to submit applications for them within the next few weeks! This likely means that the product pages for the new cards will be made live then as well, and you’ll be able to see for yourself how each card looks like.

While we wait for that upcoming update, though, the UOB card sign-up booth also gave us our first glimpse of at least one new card: the UOB Zenith card – shown in the visual at the start of this article. As you can see, the card face of the UOB Zenith has been designed to look both minimalist and elegant, with a cross-weave pattern without numbers printed on the front.

Meanwhile, here’s the card face of the Citi Prestige card for comparison, which the UOB Zenith card is meant to replace:

Aside from that, no other info has been revealed yet for the card faces of other Citi replacement cards (unfortunately!), but we were told that the PRVI Miles Elite card will sport a different design than the standard UOB PRVI Miles card. Specifically, it’ll be a black card, whereas the UOB PRVI Miles is dark gray in colour (as you can see below).

We’ll continue to keep an eye out for more updates regarding
UOB’s upcoming migration of Citi’s assets and products to its own ecosystem
 (which is expected to take place between 14 to 16 July), as well as its Citi replacement cards, so do check back in with us from time to time!

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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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Grab The iPhone 8 64GB For 20% Off, For A Limited Time Only

The humble iPhone 8 may not see as much interest as the futuristic iPhone X that launched at the same time last year, but it remains one of the best “small” smartphones in the market. Now that it’s been available in the market for some time, we’re starting to see some really good deals for the iPhone 8.

Originally retailing at RM3649 (RM3442 with 0% GST today), the 64GB base iPhone 8 isn’t exactly affordable. But a retailer in popular e-commerce platform 11street is offering the
64GB iPhone 8 for just RM2749
 – that’s slightly more than 20% off the zero-rated RM3442 RRP. This promotion is part of 11street’s Shocking Deals segment, which are available only for a limited time, in limited quantities.

According to the product listing, the
iPhone 8 on sale
 is only available in 64GB storage, and in three colours: Space Grey, Gold, and Silver. The seller listing this promotion is also reputable, with a high rating by buyers on 11street. The listing also confirms that the devices are Malaysia retail units, with local Apple warranties that can be claimed at any Apple Authorised Resellers.

The
RM2749 iPhone 8
 deal is available now until 13 July, or when stocks run out. Shipping to West Malaysia is free, too. At the time of writing, stocks are plentiful for all three colours. Head on to the
product page
 for more details.

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Pang Tun Yau

Pang Tun Yau

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

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Get An RM600 Lazada e-Voucher Guaranteed Gift When You Apply For Selected Credit Cards This Week

* Updated: 29 June 2021

After last week’s exciting unboxing with 5 participating banks, we’re shaking things up again this week!

Everyone’s a winner with a guaranteed gift of RM600 Lazada e-Voucher when you apply for selected credit cards with RinggitPlus’s Unbox This Week Campaign. If you’re unfamiliar with the campaign, here’s a refresher: Unboxing 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.

For this week (28 June – 5th July), we’re giving everyone the chance to win a guaranteed RM600 Lazada e-Voucher when you
apply with our featured banks:
Standard Chartered, Citibank, and HSBC Bank.
So, if you’ve considered applying for a credit card with any of these banks, now’s a good time to get more out of your application!

Standard Chartered Bank: Early Bird Access!

Kickstarting this week’s campaign is Standard Chartered with an exclusive 1-day head start. From 28 June – 5 July, Standard Chartered is giving you more opportunities this week to take home an RM600 Lazada e-Voucher. Simply, apply and activate selected Standard Chartered credit cards to take home your gift!

Remember, you will need to activate your card within 30 days upon approval to be eligible for this prize. 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
.

Citibank And HSBC Bank Are Making An Entrance In This Week’s Unboxing!

Joining this week’s flash deal from today (29 June) until 5 July are
Citibank
and
HSBC Bank.
 Get a guaranteed gift of RM600 Lazada e-Voucher when you apply and get approved for selected credit cards with these featured banks too!

Do keep in mind that each bank has its own prize eligibility requirements, so read on below to see their requirements:

Citibank: Activate and spend a minimum of 8 retail transactions on your new card within 60 days upon gaining approval. Current cardmembers and individuals who have cancelled their Citibank credit cards within a year prior to this campaign do not qualify for this promotion.

Apply for a Citibank Credit Card here.

HSBC Bank: Activate and spend a minimum of RM1,000 on your new card within 60 days upon gaining approval. 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

Apply for an HSBC Credit Card here.

***

So there you go — this week, get a guaranteed RM600 Lazada e-voucher when you apply for selected credit cards with Standard Chartered, Citibank, and HSBC Bank. You can also follow us on our Facebook page to receive the latest updates on Unbox This Week offers.

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

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Citibank Credit Cards

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Sasha Belani

Sasha Belani

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