Budget 2020: Key Highlights

Budget 2020 tabled at the Dewan Rakyat by Finance Minister Lim Guan Eng, was the second budget from the new ruling government of Pakatan Harapan.

The Budget this time comes with its theme, "Driving growth and equitable outcomes towards shared prosperity".

The following is the Key Highlights of Budget 2020:

What you have to know about the New Fuel Subsidy scheme ???

• Starting Jan 1, 2020

• RON95 petrol price in Peninsular Malaysia to be Gradually Floated
• Only for vehicle owners currently on Bantuan Sara Hidup (BSH) welfare payments
• Only for Qualified vehicle owners (as shown in picture)
• Payments will be made Quarterly every 4 months to the BSH-linked bank accounts
• What if a qualified person owned Both a car and a motorcycle? He/she can only receive RM30 per month (RM120 every 4 months)
• The subsidies would Stop if RON95 prices fell to RM2 per liter and below.
  
  
  
  
  
  
  Meanwhile...
• RON95 petrol price for the territories of Sarawak, Sabah, and Labuan will still be capped at RM2.08 per liter, for now
• Therefore, not qualified to receive the subsidy payments

This info was updated on 7th October 2019.

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EdgeProp is the First Property Crowdfunding Platform (PCF) in Malaysia

The Securities Commission Malaysia (SC) today announced that it has registered EdgeProp Sdn Bhd (EdgeProp) as the first Recognised Market Operator to establish and operate a Property Crowdfunding (PCF) platform in Malaysia, following the revision of the SC’s Guidelines on Recognised Markets in May 2019. EdgeProp was granted an approval in principle in September 2019.

PCF vs ECF vs P2P

Initiatives to Assist Home Buyers (Sept 2019)

Malaysian house prices continued to increase at a more moderate pace, especially in Kuala Lumpur, Selangor, Johor and Penang. House price growth was supported mainly by sustained demand for more affordable properties, while activity in the higher priced condominiums and apartments remained weak.

Some signs of market recovery were observed in the first quarter of 2019 as housing transactions both in terms of volume and value recorded sharp increases.

Housing transactions were largely driven by houses priced below RM300,000, reflecting continued demand for affordable housing across most states. Demand for housing was also boosted by various public and private sector initiatives to lower housing costs (as below).

Initiatives to Assist Home Buyers:

Relaunch of HSBC Amanah MPower Platinum Credit Card-i (+ eWallet Benefits?) Sept 2019

Recently, HSBC announces the re-launch of HSBC Amanah MPower Platinum Credit Card-i with improved benefits, effective 3 October 2019.


With this re-launch, the existing Terms & Conditions for HSBC Amanah MPower Platinum Credit Card-i Programme (effective 1 January 2019) will expire on 2 October 2019 and will be replaced with the new Terms & Conditions for HSBC Amanah MPower Platinum Credit Card-i Programme (effective 3 October 2019), which will apply to all new and existing HSBC Amanah MPower Platinum Credit Card-i Cardholders.

Please find below the new HSBC Amanah MPower Platinum Credit Card-i features:

(Click to enlarge)

While many other credit cards already started to remove e-wallet related transactions for their cashback or points entitlements, the action by HSBC Amanah to revamp their program by including e-wallet (although not all of them) is seen as a timely move to capture the needs of e-wallet community/users.

Want to know more in details?

Click below links...

Relaunch of HSBC Amanah Mpower Platinum Credit Card-i (PDF)

Relaunch of HSBC Amanah Mpower Platinum Credit Card-i Frequent Asked Questions (PDF)

UPDATES TO THE TERMS & CONDITIONS FOR HSBC AMANAH MPOWER PLATINUM CREDIT CARD-i PROGRAMME (EFFECTIVE 3 OCTOBER 2019)

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