Why the Menara KL concession got sold by TM? Reason is here...

Ever since the news broke out that the iconic Menara KL was being sold 'quietly' to an unknown company right before the GE15 election, many parties are questioning the deal.

It was first highlighted by major news channels since Communications and Digital Minister Fahmi Fadzil has called for an official probe to be carried out into claims that the ownership of KL Tower was transferred from Telekom Malaysia to a company, Hydroshoppe Sdn Bhd.

And, we designed a very interesting photo too 😜

(TNG eWallet) How to Earn Unlimited PayDirect Toll & Parking Rebates?

It's the festive season again, and I know that you all will be traveling nationwide. Do you wanna know how to save some of your toll and parking fees? Here you go...

Quick. Read this before it's over!

• First, you must have Touch'nGo eWallet
• Second, you should use PayDirect
• Third, enjoy your rebates! 💖

What is PayDirect™?

Understanding the new FTSE4Good Bursa Malaysia Index Futures (F4GM)

Too dull to trade KLCI Futures (FKLI) and wanna do *good* moving forward? Then, you should understand the new index futures here...

Bursa Malaysia Derivatives Berhad launched the cash-settled FTSE4Good Bursa Malaysia Index Futures (“F4GM”) Contract, aiming to meet the growing demand from Malaysian investors to include sustainable investment themes into their portfolios.

What is F4GM?

PRS Tax Relief EXTENDED to Year 2025

This is the only type of investment in Malaysia, which entitled you (individual investor) to personal tax relief.

✖ Not shares

✖ Not unit trust

✖ Not property

💖 It's Private Retirement Scheme (PRS) 💖

Saving for your retirement comes with more savings through PRS Tax Relief. Whether you are newly enroled or looking to top up your account, you will love the PRS Tax Relief of up to RM3,000 annually.

Prime Minister Datuk Seri Anwar Ibrahim's first Cabinet

The Cabinet of Malaysia is the executive branch of the Government of Malaysia. Led by the Prime Minister, the cabinet is a council of ministers who are accountable collectively to the Parliament.

Formally, the Yang di-Pertuan Agong appoints all Ministers on the advice of the Prime Minister.

The composition of the Cabinet and the number of portfolios depend mainly on the Prime Minister's wishes at the time. However, the post of Finance Minister (not Finance Malaysia ya 😛) was considered so important as to be necessary.

And, here is the complete list of cabinet ministers
(and with some of our own comments/opinions):

QL Resources joins KLCI constituent, Finally...

FTSE Russell and Bursa Malaysia Berhad (“Bursa Malaysia”) today announced two constituent changes to the FTSE Bursa Malaysia KLCI, following the December 2022 semi-annual review of the FTSE Bursa Malaysia Index Series.

The index series is reviewed semi-annually in June and December in accordance with the index ground rules.

The FTSE Bursa Malaysia KLCI, which is part of the FTSE Bursa Malaysia Index Series, is widely used by investors as the primary benchmark for the Malaysian market, including derivatives, through the FTSE Bursa Malaysia KLCI Futures (FKLI) and the FTSE Bursa Malaysia KLCI Options (OKLI).

The benchmarks are also tracked by several index-linked financial products, such as exchange-traded funds.

Following the semi-annual review, changes to the FTSE Bursa Malaysia Index Series are as follows:

What is "Shares2share" Donation Programme?

Running out of ideas about what else can you donate? Other than cash money, property, and collectibles, now you can donate your shares.

Yes. Your shares that are listed on Bursa Malaysia.

What is that?

How to donate?

BNM’s Disaster Relief Facility (DRF) - Due to Floods

Is your business affected by floods? In case, the unfortunate flood event really happened to you affecting your business, hopefully, this initiative from BNM could lend you a hand...

Objective:

To alleviate the financial burden of MSMEs affected by floods and enable them to resume their business operations.

Eligibility criteria:

Companies and Businesses that can be Reinsured

Reinsurance companies in Malaysia provide solutions for a diverse range of clients to equip them with financial security against unforeseen and catastrophic events.

In order to do so, a reinsurance company must have underwriting, actuarial, and claims expertise to provide a variety of services such as Malaysian life reinsurance, agriculture reinsurance, and motor reinsurance.

What are some common types of reinsurance product lines? 😕

Read here...

Revision of Air Miles Conversion Rate for Maybank Cards (effective 1 Sept 2022)

If you are one of the Maybank cardholders and using it frequently to accumulate points for redemption, then you should read this...

It's pretty normal for card issuers to revise their points redemption benefits over time, lowering the benefits by adjusting the conversion rate macam inflation rate.

Here you go...

Maybank wishes to inform you that effective 1 September 2022, the air miles conversion rate will be revised per the table below:

How does Shopee's SPayLater charges you?

Dear Shopee users, you should read this. I scared that you simply click the button and it charges you without you knowing this. Huh? What's that? It sounds serious...

Of course lah, everything related to our hard earned money, we should act seriously. Objective: Make informed decision.

Okay, firstly, what's SPayLater?

BNM to iPay88: "Please Beef Up your Security Measures!"

Following the completion of the independent forensic investigation, iPay88 has taken the necessary containment and rectification measures to address gaps that were identified.

In addition, BNM has also instructed iPay88 to undertake additional measures to further strengthen its cyber security controls and IT infrastructure. These measures are aimed at ensuring that similar incidents do not recur in the future and to safeguard against future threats.

Continue...

Labuan as Asia's Islamic Digital Asset Centre (IDAC) -- Pioneering New Asset Class

In line with the commitment made by Labuan FSA in the Labuan IBFC Strategic Roadmap 2022-2026, the strategic goal of the Islamic Digital Asset Centre (IDAC), is to attract more digital assets and Fintech players to Labuan, and to carve out a niche in the digital Islamic finance space.

This is unique in the world and will provide an alternative platform to the conventional digital finance landscape.

As demand for sustainable finance is on the rise, the delivery of Islamic financial instruments is given a new lease of life, brought about by the advent of Islamic Fintech or the digital delivery of Islamic finance.

First of its kind in this world?

In Numbers: An Overview of Malaysia's Insurance and Reinsurance Industry

The insurance and reinsurance sector is a significant catalyst for many nations’ economies, including Malaysia’s. Get to know more about our insurance and reinsurance industry with these concise facts and statements below — captured in numbers.

• What is the minimum amount of capital legally required for a reinsurance company in Malaysia?
• RM 10 million 😨

Malaysia’s insurance companies and reinsurance institutions make up the reinsurance industry which plays a crucial role in maintaining the financial stability of insurers.

Why SecureTAC is better than SMS TAC ?

Being one of the 5 measures (click here to read) which were highlighted by BNM to safeguard online banking users, financial institutions were advised to move away from using SMS TAC (or SMS OTP) to a more secure and better method.

The largest bank in Malaysia, Maybank, said that it will fully migrate to a more secure authentication method via Secure2u by June 2023, from SMS one-time password (OTP), to heighten online banking security.

Obviously, this is in line with BNM’s steer for banks to migrate from SMS OTP to more secure authentication for online banking transactions, Maybank said in a statement.

Wait.

Firstly, tell me what is a TAC?

BNM: 5M and 3S to Combat Scams

Scams and cybercrimes have been on the rise of late, not just in Malaysia but all around the world. This is a concerning development which Bank Negara Malaysia (BNM) takes seriously.

This is especially so where these cases concern financial scams. Efforts to combat financial scams have been taken, including rolling out preventive measures, pursuing more effective and coordinated enforcement actions, and raising public awareness.

BNM requires banks in Malaysia to adopt high standards of security, especially for Internet and mobile banking services.

From time to time, BNM also issues security advisories to the financial industry highlighting the latest modus operandi (tactics) of scammers and additional security measures that banks need to implement to protect their customers' savings.

How to automatically top up my e-wallet with Maybank account?

Do you feel uncomfortable logging into your Maybank2u in public? 👀 We feel you. Keep your login details safe from the public eye when you top up your eWallets and make a secured direct payment with your linked account while you’re out and about.

Actually, you can link your Maybank2u with selected e-wallets for a faster and seamless way to top up your e-wallet without needing to log in to your online banking every time. Yeah! No need to log in again 😍

Oh I see... Now only I know that. This is especially useful for lazy people like me 🤣🤣🤣

Read below here lah...

Top 4 Industries that are Worth Investing In currently

The time value of money states that ‘a dollar today is always worth more than a dollar tomorrow’ — only if you invest that dollar to grow its value instead of stashing it away in your wallet!

Investing your money can increase its value in the long run due to its earnings potential in the interim. Investing is a great way to build your personal wealth and financial stability in the long run.

So, what are some types of Malaysia investment companies and industries that are worth investing in?

Who are the Seven Malaysian companies inside the 2022 Forbes Asia's Best Under A Billion list?

As Covid-19 restrictions ease across the Asia-Pacific and people adapt to the new normal, this year’s Forbes' annual Best Under A Billion list highlights the shift to discretionary spending.

While healthcare and pharmaceutical-related companies were standouts last year, the post-pandemic return to daily life has benefitted apparel makers, mall operators, restaurants, consumer electronics and entertainment companies, among others.

Forbes' coverage of Asia's Best Under A Billion 2022, highlights the 200 Asia-Pacific public companies with less than $1 billion in sales and consistent top- and bottom-line growth.

Wow. SEVEN representatives from Malaysia wor?
Who are they? (with a little bit of their background here...)

Key Highlights of the 2022 Fortune Global 500 (including Malaysia's)

On Aug 3, FORTUNE announced the Fortune Global 500 list for 2022, ranking the world's largest corporations by revenue for fiscal 2021.

Walmart claims the top spot for the 9th consecutive year, and for the 17th time since 1995. Saudi Aramco (No. 6) reclaims its title as the world's most profitable company, with $105 billion in earnings.

Companies are ranked by total revenues for their respective fiscal years ended on or before March 31, 2022. All companies on the list must publish financial data and report part or all of their figures to a government agency.

Are you ready to know more?
Chinese companies outnumbered the US?
Any representative from our boleh-land Malaysia?

THE 2022 FORTUNE GLOBAL 500 TOP 10 LIST:

Higher interest rate doesn't bode well for local REITs, except this one...

Raising interest rates will likely be the main monetary policy tool for many central banks over the next 6 - 12 months, as global inflation worsens. Locally, there could be one more OPR hike in the remainder of 2022 after the previous two rate hikes totaling +50bps bringing the OPR to the current level of 2.25%.

Fyi, the current mortgage rates are around 3.15%. Of course, a higher mortgage means higher financing costs for the REIT sector, which will lead to earnings being compressed. (Click here to read more about REIT-related articles)

The type of loan is the determining factor...

Purchase Insurance/Takaful via EPF i-Lindung Platform? Read here...

Do you know that our EPF account can do many things? Not only that we can do special withdrawals (limited time offer only lah, now no more...), invest in approved unit trust schemes, buy a house, reduce the housing loan balance, and now... we can buy insurance/takaful also 😃😃😃

(Before we proceed further, I would like to remind you that our EPF money is primarily meant for our retirement ya. Please bear this in mind before we make any EPF withdrawals 👀)

So, what is EPF i-Lindung platform? 🙌🙌🙌

How Does Overnight Policy Rate (OPR) affect Inflation?

"Inflationary pressures have continued to increase, mainly due to elevated commodity prices and strong demand conditions, despite some easing in global supply chain conditions."

"Consequently, central banks are expected to continue adjusting their monetary policy settings, some at a faster pace, to reduce inflationary pressures," Bank Negara said in a statement after hiking the benchmark OPR for the second time this year to 2.25% (May +25bps and July +25bps).

The last back-to-back hike was May-Sept 2010.

The Inflationary Pressures... 💢💣

The Role of Overnight Policy Rate (OPR) in BNM's Monetary Policy

Fuiyoh, the interest rate is creeping up again, rebounding from the record low level of 1.75% OPR during the pandemic lockdown period. What is that OPR? What is monetary policy?

Lately, many people are arguing that this is not a good time to hike interest rates amid the rising cost of living (high inflation) and our economy is not yet fully recovered. 💢💣

In this article, let us understand the role of OPR in our economy here...

Overview of Monetary Policy in Malaysia

Underwriting Risk in the Reinsurance Industry

Every insurance claim entails a certain amount of underwriting risk for the insurance company, which can be mitigated by the underwriting process.

Read more here.

Underwriting Risk in the Reinsurance Industry

When we submit an insurance claim in the event of an accident, injury or disastrous event, how does the insurance company determine the amount to be compensated to the insured?

In disastrous events such as floods or fires, does the company have enough to pay for all the insurance claims? Every insurance company faces underwriting risk with every insurance claim, which can be mitigated by an underwriting process.

THE UNDERWRITING PROCESS EXPLAINED

Can TOP GLOVE weather the effects of NORMALISATION by falling from the sky?

In less than 2 years' time, Top Glove Corp Bhd's quarterly profit went from a historical high of RM2bil to a mere RM15.3mil in their latest quarter. 😭😭😭

Today, 9 June 2022, Top Glove announced its financial results for the 3QFY2022, delivering quarter-on-quarter growth in Sales Volume, despite prevalent challenging market conditions amidst the normalising trend.

Key highlights here:

[Investment Scam] How to Spot and Prevent Imposters from Adding me to Telegram Groups?

Did you know that scammers can add you to a channel or a group depending on your Telegram settings? 👀

Just because the members of the group chat are actively interacting with one another, it doesn’t mean that the account is “real”.

The most common type of scam is get-rich-quick-schemes a.k.a skim cepat kaya which promise exorbitant returns that are guaranteed. 

It is essential to recognize the common patterns of scams to avoid being a victim. Don’t get tricked on Telegram. We come across a very insightful post from AffinHwang Asset Management and think that this will be beneficial to our readers here too.

Here are some ways to stay safe online and not get scammed by imposters:

Why Genting Berhad’s associate --- TauRx Pharmaceuticals Ltd --- looks so Promising?

While the company was incorporated in 1968 and listed in 1971, the Genting Group was founded in 1965 when its founder, the late Tan Sri Lim Goh Tong started the journey to realise his vision of building a mountaintop resort in Malaysia.

Since then, the group is involved in leisure and hospitality, oil palm plantations, power generation, oil and gas, and property development.

A new breath of life is coming...

Let's welcome to the new era led by his son Tan Sri Lim Kok Thay, who steers the group forays into new industries such as life sciences and biotechnology. And, the new ventures are beginning to yield positive results now.

New drug to treat Alzheimer’s ???

SC Exposes the Modus Operandi of Clone Firms and here you go...

The Securities Commission Malaysia (SC) today disclosed the findings of its investigation into 10 clone firm scams, to arm investors with greater awareness on the modus operandi of these scams in order to spot and avoid them.

What is a Clone Firm Scam?

Clone firm scams are generally companies that fraudulently impersonate a legitimate or a licensed entity, including misusing the name and logo of a public listed company (PLC), corporate credentials and website, to dupe investors and solicit funds.

[[[ Read also 😎 ]]] SC: Beware of Clone Firm Scams 

Oh right.

What is the modus operandi of those scams?

Malaysia’s first-ever contactless ATM cash withdrawal service offered by Maybank

"Other than cash money, I don't want to touch anything else!" 😁

If you're this type of person, good news to you. Haha. Maybank has added yet another pioneering service in its digital bank offering by introducing the first-ever contactless ATM cash withdrawal service in Malaysia.

Customers can use this service at some 1,000 ATMs, which will indicate the availability of the contactless cash withdrawal service at the machine. Eventually, this service will be made available at all Maybank-owned ATMs.

How do I get started?

Background Check on all the Winners of Malaysia’s Digital Banking Licenses

After we've written about the anticipated BNM announcement on Digital Bank license winners, many are curious & wondering why the hottest candidate Grab's name was not on the list?

What? Leading fintech/superapp company Grab is not one of the winners in getting the digital bank license in Malaysia? No worry... Hold on...

In this article, we will be highlighting the company background of all the FIVE digital bank winners (groups/consortiums).

Out of the 5 winning consortiums, 3 of them are majority-owned by Malaysians, namely Boost Holdings + RHB Bank Berhad; Sea Limited + YTL Digital Capital; and KAF Investment Bank.

For more details, here you go...

(Serba Dinamik) Resumption of Trading starting 9 May 2022... But, ...

Reference is made by Bursa Malaysia Securities Berhad on 22 October 2021, wherein a directive was issued to Serba Dinamik (SERBADK) to announce the findings from the Factual Findings Update dated 30 September 2021 (“FFU”) (“Bursa’s Directive”).

Arising from SERBADK’s failure to comply with Bursa’s Directive, Bursa Securities had on 27 October 2021 suspended the trading of SERBADK’s securities.

Subsequently, Bursa Securities had also sought to enforce Bursa’s Directive via legal action commenced pursuant to Section 360 of the Capital Markets & Services Act 2007 where the High Court had on 7 February 2022 granted an order to compel SERBADK to, among others, comply with Bursa’s Directive (“Order”).

SERBADK’s efforts to stay the Order pending its appeal had been dismissed by the High Court and the Court of Appeal on 14 February 2022 and 11 April 2022 respectively.

Bursa Securities wishes to draw investors’ attention to SERBADK’s announcement dated 21 April 2022, entitled “Court Order Dated 7 February 2022” (“Announcement”) where SERBADK had announced, among others, the findings from the FFU in accordance with the Order. This is in compliance with Bursa’s Directive.

Therefore, Bursa Securities will be uplifting the suspension of trading of SERBADK’s securities on 9 May 2022 at 9.00 am. Please refer to Listing Circular dated 29 April 2022 for further details.

CLARIFICATION ON SERBADK’S ANNOUNCEMENT

Here are the 5 Digital Banks of Malaysia (with Boost getting the license)

Finally, wait until neck already looooooong 🦒🦒🦒 the winners of the most anticipated digital bank licenses in Malaysia were announced by Bank Negara Malaysia (BNM) today (29 April 2022).

This will mark the new chapter of the local banking industry and also the Fintech industry in Malaysia. We promised that we will be blogging more about Fintech / Digital Bank from now onwards. 😊

All 29 applications received were thoroughly assessed by BNM, which cover the character and integrity of applicants, nature and sufficiency of financial resources, soundness and feasibility of business and technology plans as well as ability to meaningfully address financial inclusion gaps.

Who gets it?
What to expect?

(Online Banking) Which one is FAKE?

This is a very important message to alert all mobile/online banking users. A viral message was circulating on various social media recently to alert bank users to be careful when making online payments/transfers.

In order to give our readers a clearer picture, we have prepared these pictures here side-by-side.

Here are the two examples of online payment landing pages.

Do you know which one is Real? Which one is Fake?

Answer ______ ?

Why SC lodges Police Report against Serba Dinamik?

Thinking that the saga will be ending very soon after the recent RM16 million compound issued by the Securities Commission to Serba Dinamik Holdings Bhd and four of its top officials?

Hmmm... Not so soon... Why?

"Since May 2021, there were numerous press reports portraying the company in a negative light. A large number of the press reports concern the actions taken by Bursa and the SC against the company."

"Many of the company’s trading partners had imposed difficult terms on the company for continuation of business dealings. The lenders who had given revolving facilities had suspended the use of these facilities. Essentially, the company was placed in a quagmire," as stated in the Serba Dinamik's company announcement statement on 21st April 2022.

How many pages of the announcement?
Answer: Total 26 pages

The latest twist of the saga is here today (Yeah! Sunday. This is very odd for SC to issue a media statement on Sunday!) 👀💣

Below is the media statement issued by SC today!

How many and why people apply for EPF Special Withdrawal? Here are the statistics...

The Employees Provident Fund (EPF) announces that as of 8pm on 14 April 2022, it has received a total of 5.3 million applications under the Special Withdrawal facility after it was opened to members on 1 April 2022.

The total number of applications is equivalent to RM40.1 billion. The payments will be made in batches, with the first batch set to commence from 20 April 2022.

(We have prepared a nice infographic below...) 😀😁

Based on feedback from members applying for the facility, the three top reasons for applying include:

SC Imposes Maximum Compound against SERBA DINAMIK?

13 April 2022  |  Kuala Lumpur

The Securities Commission Malaysia (SC) today, with the written consent of the Public Prosecutor, and pursuant to its powers under Section 373(1) of the Capital Markets and Services Act (CMSA), compounded Serba Dinamik Holdings Berhad (Serba Dinamik), its chief executive officer, executive director and two officers for a sum of RM3 million each.

This follows the decision of the Public Prosecutor to accept the representation made to the Attorney-General’s Chambers by Serba Dinamik and the individuals involved regarding the charges pending in court.

Is this the maximum amount?
Who gets another compound?

How to Qualify for ECF Tax Incentive in Malaysia?

We heard you. 👂👂

Many ECF investors are questioning why we cannot see the new ECF tax incentive category for ECF investments in the e-BE form when e-filing our income tax this year? Are you wondering the same also?

#Throwback
[Crowdfunding] What is Equity Crowd Funding (ECF)?

Click here to read.

Let's find out the answer here...

ePemula: Which is the best e-wallet to claim my RM150?

The ePemula programme is one of the initiatives announced under Budget 2022 which aims to :

• Lighten the burden on youth’s expenses;
• Encourage cashless spending by youth; and
• Increase the adoption of cashless transactions by brick and mortar businesses
• This programme is expected to benefit approximately two (2) million eligible Malaysians, with an allocation of RM300 million
• Each recipient is eligible to claim an e-wallet credit of RM150
• The claim period for the ePemula credit is from 11 April to 1 June 2022 and the credit can be spent until 10 June 2022

Click here to read the full details about the ePemula programme.

Money money home, who is the best e-wallet for me to claim RM150 home 👀💭

RM150 e-wallet credit under e-Pemula / e-Start

As per the 2022 Budget announcement, a total of RM300 million will be allocated to benefit around 2 million youths via an e-tunai initiative called e-Pemula or e-Start.

Youth who are qualified will be receiving e-tunai credit as much as RM150 each, via their chosen e-wallet which will kick off in mid-April. Which e-wallet is available for us to choose from? Who is qualified to get the RM150? How to apply?

[ GOpinjam by Touch'nGo ] Read this 15 points first before you go 'Pinjam' !!!

As the world is evolving digitally nowadays, everything is made simple and convenient with a simple click on your smartphone.

Basically, via an e-wallet as popular as Touch'nGo, you can do wonders with your fingers from making payments, transferring money to friends, paying for toll & parking, ordering groceries & foods & drinks, and paying utility bills, and so on...

Now, you can 'pinjam' (borrow) money also...

1. What is GOpinjam?

pitchIN to launch Secondary Market and IEO platforms in year 2022

How can it be more exciting than getting two regulatory green lights within one month? ✌ The year 2022 will be a big year for pitchIN.

In early March 2022, SC gave in-principle approval to pitchIN’s Secondary Market. On 23 March, pitchIN was announced as one of two Initial Exchange Offering (IEO) platforms in Malaysia. 😍 (Click here to read more about IEO in Malaysia)

The Journey since 2016...

pitchIN CEO, Sam Shafie