30 July 2020

How to claim your RM50 ePENJANA e-wallet credit? Starting 31st July 2020...

Under the Economic Recovery Plan (ERP), one of the most eye-catching initiatives was ePENJANA which aims to spur the spending of users in Malaysia, in order to rejuvenate back the economic activities.

A total of RM750mil will be allocated by the government under this initiative. And, three e-wallet providers which are exactly the same with the previous similar round called eTunai, and they are

Who is Eligible?
Yes, if you're a Malaysian above the age of 18, with an annual income of less than RM100,000, and also downloaded MySejahtera app...

Wait... It's RM50 + RM50 ???

Yup. On top of the RM50 credit given by the government, another RM50 equivalent value of matching initiative will be given by the e-wallet providers that you have chosen to claim from. It will be in the form of cashback, voucher, and/or reward points during the validity period.

29 July 2020

Loan Moratorium EXTENSION. How flexible is that? How & when to apply?

Ahead of the blanket moratorium ending on 30 September 2020, our PM today announced that a more targeted approach to assist individual and SME borrowers, which is in line with the easing of movement controls since early May.

It is recognised that income and cashflow challenges remain for some, especially those who have lost their jobs or experienced a reduction in incomes.

Because of that, a targeted approach was introduced to ensure that the financial resources and attention are prioritised where it is needed the most.

12 July 2020

The 4 Kings of Rubber Glove Industry !!!

Just when the world has been hit by one of the deadliest pandemics in history, it’s been a good year for glove companies and their founders.

Well, Malaysia, the world's largest rubber glove producer with a market share of about 65% of the world’s supply, therefore producing at least 4 billionaires whose fortunes were made in the industry.

Understand the 'Kings' here:

What is Bursa Malaysia's PN17 status???

Under the rules set out by Bursa Malaysia, there are clear, comprehensive and accessible rules which govern, among others, the listing of issuers and products on local equity markets, and the obligations of the issuers post-listing, the trading, clearing and settlement of our products, the admission and post-admission obligations of market participants.

And, one of the popular yet not-so-glorify words is PN17 - which stands for Practice Note 17. There are a total of 32 Practice Notes (although some of them already removed) as listed on the website.

What does PN17 mean?

08 July 2020

SC Cautions Investors on the Usage of Crypto ATMs - No such permit was issued !!!

Have you ever seen an ATM located at certain shopping malls? Shop lots? Not the normal bank ATM, but Crypto ATM...

Today, the Securities Commission Malaysia (SC) would like to caution the public against the usage of Crypto Automatic Teller Machines (Crypto ATMs).

What is Crypto ATM actually?

07 July 2020

Highlights of BNM decision to slash OPR to Record Low !!!

At its meeting today, the Monetary Policy Committee (MPC) of Bank Negara Malaysia decided to reduce the Overnight Policy Rate (OPR) by 25 basis points to 1.75%.

The ceiling and floor rates of the corridor of the OPR are correspondingly reduced to 2.00% and 1.50%, respectively.

No thanks for the following reasons... ✂✂✂

25 June 2020

[P2P] What does this new player microLEAP has to offer?

Peer-to-peer (P2P) financing in Malaysia, although it is not new in Malaysia, the industry still has a long way to go. Another player - microLEAP - comes into the picture recently.

Interestingly, the new player is 
the only peer-to-peer (P2P) financing operator in Malaysia that focuses on the microfinance sector, just in time when many local microenterprises struggling to survive the Covid-19 pandemic. (That's the reason why 'micro' has to be inserted as the company's name?)

Having said that, microLEAP provides both shariah-compliant and conventional financing from RM1,000 to RM50,000 to microenterprises. It aims to fill the financing gap for micro-enterprises in Malaysia, which may not be able to apply for loans from banks due to their lack of credit history.

What about investors?

21 June 2020

Two new schemes from Cradle - CIP Ignite and CIP Accelerate

In order to provide fundings to more new start-up companies, Cradle Fund Sdn Bhd is allocating RM26.5 million to fund its two newly launched investment programmes, namely Cradle Investment Programme Ignite (CIP Ignite) and Cradle Investment Programme Accelerate (CIP Accelerate).

According to Cradle, out of the total allocation, RM16.5 million will be used for CIP Ignite with the remaining RM10 million earmarked for CIP Accelerate.

What are the differences?

19 June 2020

[E-Wallet] Read this Cashback offer before heading to Petrol Stations (June 2020)

Petrol prices keep on increasing (when you need it the most after the lockdown period)? Want to save some money during these difficult periods?

No worry. Read this before pumping.

14 June 2020

Introduction to Robo-Advisor Wahed Invest

Introduced about two years ago in Malaysia, there are currently a total of three players operating in the market. First, we have StashAway Malaysia and MYTHEO. And, the latest addition is Wahed Invest.

No worry, we will write another article on the other two platforms very soon. And, there is a reason here. Stay tuned!

Let's back to our topic of today, which is about Wahed Invest.

Who is Wahed?
What is so special?
What are the fees and calculations? 

08 June 2020

Personal Income Tax for YA2019. What? Life Insurance category changed?

Here are the updated tax relief listings for your reference. Let's max up the relief amount given to reduce your tax burden.

Due to the difficulties caused by the Covid-19 pandemic, IRB is kind enough to extend the deadline of submission to 30 June 2020.

List of YA2019 Tax Relief
What are the things that I should take note of?

06 June 2020

Good news from Setel (e-wallet payment at all Petronas stations)!!!

Good news!

As of 29th April, Setel has received approval for its own e-wallet license from Bank Negara Malaysia. 

With this approval, it has enabled Setel to move away from their previous e-wallet provider, Kiplepay Sdn Bhd to Setel Ventures Sdn Bhd (wholly-owned subsidiary of PETRONAS Dagangan Berhad).

What does this mean to all Setel users?

05 June 2020

Highlights of the Malaysia's Economic Recovery Plan

With the theme of Generating the economy together, Prime Minister Tan Sri Muhyiddin Yassin today unveiled the RM35 billion Economic Recovery Plan (ERP) which is focused on 3 core issues, namely:
  1. Empower the people
  2. Propel businesses
  3. Stimulate the economy

“The plan will cover 40 initiatives with a total of RM35bil, out of which RM10bil will be of direct fiscal injection. This is due to the fact that plenty of jobs and businesses are affected during the movement control order, and the economy will take time to fully recover,“ he said during the live session.

Continue below...

02 June 2020

SC: Beware of Clone Firm Scams

The Securities Commission Malaysia (SC) today issued a warning to the investing public on the rise of clone firm scams where a fraudulent company will set itself up to look like a capital market intermediary that is licensed or registered with the SC, in order to deceive investors.

The fraudsters will use names, logos, credentials, websites and other details of a legitimate capital market intermediary to promote bogus investment schemes via social media channels such as Facebook, WhatsApp and Twitter, promising extraordinarily high returns with little risks. 

More details below:

31 May 2020

[HP Loan Moratorium] You have to act now, and here is the guide for different banks !!!

Still on this topic to follow up with the announcement by Bank Negara Malaysia (BNM) on the sudden change of procedures on hire-purchase loans (car loans). Yes. You have to 'act' and 'reply', if you want to opt-in to defer your hire purchase loan.

If you missed out on our previous posts on this same topic, here you go:
  • A Big U-Turn on Moratorium for Hire-Purchase Loans? (30 April 2020) (click here to read)
  • FAQs on Hire-Purchase and Fixed Rate Islamic Financing Products (1st May 2020) (click here to read)

A quick recap:

Traders Fair&Gala Night 2021 - Your way to financial literacy and trading experience

(Info Sharing)

Traders Fair&Gala Night - Malaysia is an amazing opportunity to meet and take seminars from the most experienced traders, financial analytics and investment gurus. We'll connect you with the most experienced and popular speakers and you are welcome to ask questions and to demonstrate real-life cases.

Kuala Lumpur, the economic heart of Malaysia, is ready to welcome everybody who is interested in the financial area at the third Traders Fair&Gala Night-Malaysia on March 27, 2021. 

We are happy to announce our key speakers:

26 May 2020

The 6 Reasons explaining why did Bursa Rally despite the Looming Recession

Just as curious as you did, most investors are scratching their heads now. If you're the one who cut your stock holdings in mid-March, and by keeping more cash on hands, waiting for better timing to re-enter the market again, then you must continue to read on.

When writing this, the global stock market has just had an amazing rally in April & May despite a looming recession ahead. Do you feel puzzled and frustrated by this?

Here, we pointed out the 6 reasons that spark-off the current rally:

24 May 2020

[Update] Eligibility Broadened for Covid-19 Test Fund (CTF)

The eligibility criteria for the RM8 million Covid-19 Test Fund (CTF), jointly set up by LIAM, PIAM, and MTA has been broadened to include Emergency and Semi Emergency cases.

Policyholders/certificate holders with medical and health insurance are now entitled to reimbursement of up to RM300 from the CTF if they are required to undergo the COVID-19 screening before their emergency or semi-emergency surgeries.

What is the definition of emergency & semi-emergency?

21 May 2020

eToro was added to SC Alert List !!!

Following the much-hyped of the legality of an investment platform in Malaysia, today there is the latest movement from the local regulator.

Here is the move:

01 May 2020

RM3,000 Special Grant to Micro SMEs. How to apply?

As announced in early April 2020, an enhanced Prihatin Plus (Pakej Prihatin PKS Tambahan) package was dished out to help our small and medium-sized enterprises (SMEs). And, one of the packages is the "Geran Khas PRIHATIN (GKP)" to all micro SMEs.

What is the definition of micro SME?
How to apply?
When is the payment?

Who is eligible to apply?

FAQs on Hire-Purchase and Fixed Rate Islamic Financing Products (1st May 2020)

Hopefully, this latest FAQs from Bank Negara Malaysia could clear your doubts on the confusion since yesterday.

It was previously announced that the 6-month payment deferment for Hire Purchase (HP) and fixed-rate Islamic financing is automaticHas there been a reversal in this decision?

30 April 2020

A Big U-Turn on Moratorium for Hire-Purchase Loans? (30 April 2020)

Following the announcement by Bank Negara Malaysia (BNM) on the 6 months moratorium on loan repayments in March 2020, it took a sudden change of procedures on hire-purchase loans (car loans) today.

To recap, please click the below link to read our earlier blog post:

With the topic "Operationalisation of Moratorium for Hire-Purchase Loans and Fixed Rate Islamic Financing", BNM today issued an announcement to the general public.

What is that?
What should I do?

23 April 2020

A Historic Post on Negative Crude Oil Price (20 April 2020)

Since this was such a historic event, how can we leave this out from our blog? On 20 April 2020, the US May oil futures contract went into negative territory for the first time in history and hit a record low on thin volume, ahead of next week’s expiration.

Why did this happen?
How about Malaysia?

09 April 2020

How to get the RM300 Covid-19 Test Fund?

The Life Insurance Association of Malaysia (LIAM), Persatuan Insurans Am Malaysia (PIAM) and the Malaysian Takaful Association (MTA) have established the COVID-19 Test Fund (CTF) to support the Ministry of Health’s (MoH) efforts to conduct more COVID-19 testing for the benefit of medical insurance policyholders and takaful certificate holders. RM8 million has been pledged by the insurance and takaful industry to this fund.

Medical insurance policyholders and takaful certificate holders may apply for reimbursement up to a maximum of RM300 for COVID-19 testing (one reimbursement per individual) to maximize the number of tests that can be supported by the CTF.

Who is eligible to claim from the CTF?

01 April 2020

How and Should I Apply EPF i-Lestari Withdrawal?

In order to ease the financial burden of Malaysians during the current Covid-19 outbreak, the prime minister had announced on 27 March 2020 that Employees Provident Fund (EPF) members will be allowed to withdraw up to RM500/month from their EPF account.

Available from today 1st April 2020 onwards, this withdrawal facility is known as i-Lestari. A monthly withdrawal that aims to relieve the financial burden of our members.

Who is eligible?

How to apply?

Should I withdraw?

29 March 2020

Complete Guide on Deferment of Insurance Premium Payment

Do you have one or more life insurance policy/ family takaful certificate?
Do you have one or more general insurance policy/ general takaful certificate?

If your answer is YES to either question. Then, please read on...

As announced during the "Prihatin Economic Stimulus Package" by our prime minister on 27 March 2020, family takaful and insurance companies will offer a 3-month suspension on premiums by contributors whose source of income is affected by the pandemic.

Is it Automatic?

[Deferment of Loan] With or without compound? Interest-free? House vs Car loan?

Yup. We know that this topic is not easy to understand, yet it shouldn't be difficult to know. Why? Because it's all about our money matters. That's why we rather take some time to write about this, instead of giving you readers a quick conclusion.

We still have a few days to decide to opt-in or opt-out from the offer given by respective banks on the deferment of loan/financing.

How is it works actually?
Click here to read our previous article on the measures announced...

Now, let's jump to the advance part which most of us are concerned about.

Here you go...

Q1) Should we Opt-out from the measure of deferment?

25 March 2020

BNM Loan/Financing Deferment Measure. How it works actually? (March 2020)

Bank Negara Malaysia (BNM) today announces a number of regulatory and supervisory measures in support of efforts by banking institutions to assist individuals, small and medium-sized enterprises (SMEs) and corporations to manage the impact of the Covid-19 outbreak.

How is it works actually?

19 March 2020

BNM Slash Statutory Reserve Requirement (SRR) Ratio!!! (19 March 2020)

In view of the severe economic impact due to Covid-19 and 'movement control' imposed by the government, Bank Negara Malaysia steps up its effort to mitigate an economic shock today.

In a statement from the central bank today, it announces that the Statutory Reserve Requirement (SRR) Ratio will be lowered by 100 basis points from 3.00% to 2.00% effective 20 March 2020. In addition, each Principal Dealer is able to recognize MGS and MGII of up to RM1 billion as part of the SRR compliance.

How much liquidity to be released from such a move?

08 March 2020

[UPDATE] Local and Foreign Banks Mortgage Loan Rate (as of 6 March 2020)

The following are the Base Rates, BLR and Indicative Effective Lending Rates of Financial Institutions as of 6 March 2020.

Source: Bank Negara Malaysia

* Indicative effective lending rate refers to the indicative annual effective lending rate for a standard 30-year housing loan/home financing product with a financing amount of RM350k and has no lock-in period.

Follow our active updates via Facebook @FinanceMalaysia

Other blog posts that you may not want to missed:
  • Local and Foreign Banks Mortgage Loan Rate (as of 31 Jan 2020) Click here to read...
  • NEW Base Rate: Good or Bad? (Click here to read...)
  • Understanding the NEW Base Rate effective Jan 2015 (Click here to read...)

02 March 2020

Malaysia Political-linked Stocks to Watch Out for

After almost 2 years of political changes in Malaysia, the Pakatan Harapan (PH) government was officially collapsed on 1 March 2020. With the change of guard and swearing-in of Tan Sri Muhyiddin Yassin as the new prime minister of Malaysia, the would-be ruling coalition will be comprising BERSATU, UMNO, PAS, MCA, MIC, GBS (forming a coalition called Muafakat Nasional)...

The reaction of the stock markets will be focusing on those political linked-companies. And, below is some of them (if not all) based on our own records. Disclaimer: Please do your own research and study before buying and selling of shares.

Image result for mahathir

Tun Mahathir related counters:

23 February 2020

Insights into EPF 2019 Performance

The Employees Provident Fund (EPF) delivered a solid performance for 2019 in terms of both its operational and financial results, allowing it to declare a dividend of 5.45% with a payout amounting to RM41.68 billion for Simpanan Konvensional.

Meanwhile, EPF declared a dividend rate of 5.00% for Simpanan Shariah 2019, with a payout amounting to RM4.14 billion.

What did EPF say?
Why differing Dvididend Rate for Conventional & Syariah?
Outlook for the year 2020?

18 February 2020

[COVID-19] Extra Coverage from various Insurance Companies (Feb 2020)

Having a new official name as COVID-19, the deadly virus already infected more than 70,000 people and claimed more than 1,500 lives worldwide (and still counting...). It caused an extensive health scare and has since received wide media coverage.

Image result for COVID19 malaysia

And, one of the most common questions asked was "Is it covered by insurance?" Read our earlier article on "Health Insurance / Takaful Coverage for Novel Coronavirus (2019-NCOV)".

As of 18 Feb 2020, there are three insurance companies announcing that they are giving extra coverage / financial assistance for policyholders who diagnosed with COVID-19, on top of the medical/hospitalization coverage mentioned above.

Which Insurance Companies?
What kind of coverage provided?
Coverage is for policyholders only or family members?

Let us summarise for you here. (Hey, please give us a 'Like' 👦👧).

UPDATED VERSION on 25 March 2020

08 February 2020

What is "SSPN-i Loyalty Rewards 2020" ???

On 5th Feb 2020, the National Higher Education Fund Corporation (PTPTN) announced a 4% dividend for 2019 for two of its savings plans, namely SSPN-i and SSPN-i Plus. How soon can we get the dividend? The answer is 8 Feb 2020. (very fast oh!!!)

On the same day, PTPTN also announced that SSPN-i account holders would receive 1% on top of the annual dividend, to reward those who had been consistently saving for their children’s education through the SSPN-i Loyalty Rewards program.

What is this "Loyalty Rewards"?

Should we grab it?
Am I qualify?

Let us brief you here:

05 February 2020

What is "Domestic Systemically Important Banks (D-SIB)"?

Bank Negara Malaysia (the Bank) today issued the policy document on Domestic Systemically Important Banks (D-SIB) Framework, which sets out the Bank’s assessment methodology to identify D-SIBs in Malaysia, and the inaugural list of D-SIBs.

Too-Big-To-Fail ???

02 February 2020

[UPDATE] Local and Foreign Banks Mortgage Loan Rate (as of 31 Jan 2020)

The following are the Base Rates, BLR and Indicative Effective Lending Rates of Financial Institutions as of 31 Jan 2020.

Source: Bank Negara Malaysia

Follow our active updates via Facebook @FinanceMalaysia

Other blog posts that you may not want to miss:
  • NEW Base Rate: Good or Bad? (Click here to read...)
  • Understanding the NEW Base Rate effective Jan 2015 (Click here to read...)

31 January 2020

Health Insurance / Takaful Coverage for Novel Coronavirus (2019-NCOV)

The Life Insurance Association of Malaysia (LIAM) and Malaysian Takaful Association (MTA) wish to inform that all life insurance companies and takaful operators will provide hospitalisation coverage/treatment due to Novel Coronavirus (2019-nCoV) to their policyholders/certificate holders.

The World Health Organisation (WHO) has just declared the outbreak of the coronavirus as a global health emergency.

“Even though a majority of the medical policies/certificates carry an exclusion on communicable diseases requiring quarantine by law, the Malaysian life insurers and takaful operators are responding to an immediate need of the nation by waiving the exclusion on quarantine by law in light of the increasing number of people who have been affected,” announced by Mr Mark O’Dell, Chief Executive Officer of LIAM. 

21 January 2020

[Property] Really can "Rent with Zero Deposit" with SPEEDHOME ???

Renting a house through online platforms has become a new trend. However, what catches the attention is the “ZERO Deposits” package to help the tenant to rent easier.

Is it true?
How could it be?
It is good for renters, but, how about landlords?

Established in 2015, Speedrent Technology Sdn Bhd combines protection and technological innovation in the house rental and property market.

Partnered with Allianz General Insurance since 2017, the company provides an accessible and secure home rental platform for landlords and tenants. Landlords can secure their property with Allianz General Insurance up to RM42,000 or room up to RM 3,700 while tenants can rent with ZERO Deposit.

Wait... Speedrent?
Yup, that's the previous name. 
In 2019, Speedrent started a new chapter and rebranded it - as SPEEDHOME !!! Open an account (click here).

How it works actually?