[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?

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?

[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.

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? 

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?

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?

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...

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: