A New Way of Transferring Money via DuitNow !!!

Remember this date, 8 December 2018, it will mark another milestone in the financial industry in Malaysia with the launching of DuitNow money transfer service. The new service was introduced to eliminate the below conversations between all banking users:

"Please give me your bank account details..."

"What's your bank account number again?"

"Which bank is your account? I forgot..."

Now, you don't have to ask your friends their lengthy bank account number anymore. With DuitNow, you can send money instantly on a 24/7 basis to mobile numbers, NRIC numbers or business registration numbers.

Send and receive funds instantly anytime, anywhere.

Instantly?Yes, because the name was 'Do-it-Now' actually.

How can I receive money using DuitNow?

You must first register for DuitNow by linking one of the following IDs with your bank account or e-money (e-wallet) account at participating banks and payment providers:

1. Your Mobile number
2. Your NRIC number
3. Your Passport number
4. Business registration number (only SSM-registered businesses)

Once you have registered, payers can direct payments to you using the registered ID
(DuitNow ID).

Do I need to register with DuitNow?

Registration is not required to send money via DuitNow. However, in order to receive money via DuitNow, a one-time registration is needed to link your ID with your bank account or e-money account (e-wallet).

Important Question: Do I have to Pay for the service?

• No, it is absolutely FREE for consumers to send and receive money up to RM5,000.
• For transaction above RM5,000, a 50 sen fee may be applicable. However, some banks are waiving this fee.
• For businesses, please check with your bank for transaction fee information.

What's the Transaction Limit?

• Consumers may transfer up to RM 50,000 per transaction at banks.
• Businesses may transfer up to RM 10,000,000 per transaction at banks.
• The limit may vary depending on your bank's channels.
• But, e-Money (e-wallet) payment providers will definitely have lower limits.

For more information, please visit https://www.duitnow.my/

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Salary Deduction Schedule for PTPTN Loan Repayment effective 2019

Under the new mechanism which was announced in Budget 2019, all PTPTN loan borrowers have to abide by the repayment of their student loan via salary deduction starting Jan 2019.

Today, PTPTN chairman Wan Saiful Wan Jan disclose the details via media briefing on this new mechanism called "Scheduled Salary Deductions" or "Potongan Gaji Berjadual" (PGB) in Malay.

So, how many percent % would it be from your salary ???

How about first-class honors graduates?

On another initiative, graduates with first-class honors in 2019 would be exempted from repaying their PTPTN loans if they fulfill ALL the following conditions;

1. They are full-time bachelor’s degree students;
2. They graduate with first-class honors; and
3. They complete their studies on time and are categorized as a member of a B40 or M40 family when they complete their studies.

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10 Most Popular E-Wallet in Malaysia

It's time to go cashless! ❤❤❤ After knowing the unavoidable changes that landed here, e-wallet will take the market by force or by storm. From our previous article, 👉 "Why e-Wallet will be the Future Payment Method in Malaysia?" (click here), we continue with the topic of e-wallet.

No more carrying hefty cash.
You can do it all from your smartphone!

In this article, we will write about the most widely used / popular e-wallets in Malaysia. 

Steps-by-step to make payment

Here is some brief introduction of them... ↓↓↓

1. Boost
   ~ Developed by Axiata Digital Services Sdn Bhd, a unit of Axiata Group
   ~ Instant cash rebate via its addictive shake rewards after each transaction
   ~ Having the most users in Malaysia (around 3.5mil users)
   ~ Notable merchants: Borders bookstore, 99 SpeedMart, SenHeng, Nando's, Tesco, Teppanyaki, Regiustea, Petsmore, Mydin...
   ~ Click here to download from Google Play / App Store (Use code: yeo31ln) to get *RM5 cash back for your prepaid mobile top up
   
   
   
   
   
   
   
   
2. Touch N Go e-wallet
   ~ TNG Digital is a joint venture company between TNG and Ant Financial (a subsidiary of Alibaba group)
   ~ Able to add your physical Touchn'Go card(s) and view the real-time balance and latest 5 transactions (reload/top up feature will be coming very soon)
   ~ Can bind with your RFID and make your toll payments via your e-wallet money
   ~ Default wallet size is RM200, or RM1,500 with debit/credit card binding, or RM5,000 with RFID tag
   ~ Notable merchants: TGV cinema, MPH, Popular bookstore, Tesco, EspressoLab...
   ~ Click here to download from Google Play / App Store
   
   
   
   
   
   
   
3. Maybank QR Pay~ Obviously, this is by Maybank
   ~ Linked with the M2U mobile app togther with your saving/current account
   ~ *For transactions below RM250, biometric / M2U password is not required
   ~ Notable merchants: NeneChicken, MyBurgerLab, Coffea Coffee, Gloria Jean's Coffee...
   ~ Click here to download from Google Play / App Store
   
   
   
   
   
   
   
4. WeChat Pay~ Backed by the powerful Chinese tech company Tencent Holdings
   ~ One of the duopoly e-wallets in China, together with Alipay
   ~ Notable merchants: Starbucks, Petron petrol stations...
   ~ Click here to download from Google Play / App Store
   
   
   
   
   
   
   
   
5. Fave Pay~ Powered by Fave, the new owner of Groupon since end-2016
   ~ Recently partner with Boost as one of the mobile wallet payment option
   ~ Notable merchants: JuiceWorks, llaollao, AuntieAnne's, PappaRich...
   ~ First you have to download the FAVE app (Use code: FAVEALEX1039) to get *RM5 off your first purchase with a minimum of RM10 spent.
   ~ Click here to download from Google Play / App Store
   
   
   
   
   
   
   
6. Grab Pay~ Powered by Grab
   ~ Earn GrabRewards points each time you pay
   ~ Seamless payment for your Grad rides, GrabFood...
   ~ Notable merchants: Fish&Co., Tealive, Inside Scoop, Sakae Sushi...
   ~ Click here to download from Google Play / App Store
   
   
   
   
   
   
   
   
7. BigPay~ Owned by AirAsia
   ~ The only e-wallet which comes with a physical MasterCard prepaid card
   ~ Waive the 2% fee charged by overseas ATM cash withdrawals via the physical card
   ~ Waive processing fees when purchasing AirAsia flight tickets
   ~ Earn BIG points and also able to pay in local currency when you're abroad
   ~ Notable merchants: AirAsia (of course)
   ~ Click here to download from Google Play / App Store (Use code: VDN6123EJ2) to get *RM10 cash reward
   
   
   
   
   
   
   
   
8. MCash~ One of the pioneer to launch e-wallet service in Malaysia
   ~ Homegrown brand (It stands for 'M'alaysia Cash)
   ~ Notable merchants: KK Mart
   ~ Click here to download from Google Play / App Store
   
   
   
   
   
   
9. Kiple Pay~ Founded by listed company Green Packet Berhad
   ~ Previously known as Webcash
   ~ By signing up with kiplePay, it gives merchants more payment options such as internet banking, e-wallet and prepaid options on your respective online stores --- all under a single platform.
   ~ Notable merchants: Hai-O, Mydin, BeerFactory
   ~ Click here to download from Google Play / App Store
   
   
   
   
   
   
   
   
10. Vcash~ Powered by Digi Telecommunications Sdn Bhd in partnership with Valyou Sdn Bhd
    ~ Recently, Vcash gained access to more than 10,000 Ambank terminals merchants
    ~ Anyone with a smartphone can use this (not only DiGi users...)
    ~ Notable merchants: Manhattan Fish Market, Eggette Lab, New York Steak Shack...
    ~ Click here to download from Google Play / App Store

Interestingly, we noticed that most of these are either in colour of green or blue 😼😼😼

This is a guest article in collaboration with Facebook@EWalletForAll

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Why e-Wallet will be the Future Payment Method in Malaysia?

Throw away your wallet! Replacing it with e-Wallet! You like it or not, the future of making transactions will be via electronic-wallet or QR code payments. We called it as e-Wallet.

In recent years, QR code payments are increasingly being seen as an affordable alternative to cash payments, particularly in Asia where mobile phone penetration is relatively higher. Across different jurisdictions, regulatory approaches have varied.

Considering Malaysia’s market characteristics, Bank Negara Malaysia has adopted a unique approach that aims to ensure a unified and interconnected network amid the proliferation of QR code payment providers. Hopefully, this will be happening very soon.

What's the central bank's initiatives on e-wallet ?

As at end-October 2018, there are a total of 37 non-banks e-wallet companies in Malaysia:

1. AEON Credit Services (M) Berhad
2. Alipay Malaysia Sdn Bhd (formerly known as helloPay Malaysia Sdn Bhd)
3. Axiata Digital eCode Sdn. Bhd.
4. Bandar Utama City Centre Sdn. Bhd.
5. BigPay Malaysia Sdn. Bhd.
6. Celcom eCommerce Sdn. Bhd. (formerly known as Celcom Multimedia (Malaysia) Sdn. Bhd.)
7. Chevron Malaysia Limited
8. DIV Services Sdn Bhd (formerly known as ePetrol Services Sdn Bhd)
9. Fass Payment Solutions Sdn. Bhd.
10. Finexus Cards Sdn. Bhd. (formerly known as MAA Cards Sdn. Bhd.)
11. Fullrich Malaysia Sdn Bhd
12. GPay Network (M) Sdn Bhd
13. iPay88 (M) Sdn. Bhd.
14. I-Serve Payment Gateway Sdn Bhd
15. JuruQuest Consulting Sdn. Bhd.
16. ManagePay Services Sdn. Bhd.
17. Maxis Broadband Sdn. Bhd.
18. Merchantrade Asia Sdn Bhd
19. Mobile Money International Sdn. Bhd.
20. MobilityOne Sdn Bhd
21. MOL AccessPortal Sdn. Bhd.
22. MRuncit Commerce Sdn. Bhd.
23. Numoni DFS Sdn. Bhd. (formerly known as Com2U Sdn. Bhd.)
24. PayPal Pte. Ltd.
25. Petron Fuel International Sdn. Bhd.
26. Presto Pay Sdn. Bhd. (formerly known as EPP Solution Sdn. Bhd.)
27. Raffcomm Sdn. Bhd. 
28. Shell Malaysia Trading Sdn. Bhd.
29. SiliconNet Technologies Sdn. Bhd.
30. Silverlake Global Payments Sdn. Bhd. 
31. SMJ Teratai Sdn Bhd
32. Touch 'n Go Sdn. Bhd.
33. TNG Digital Sdn. Bhd.
34. Valyou Sdn. Bhd.
35. Webonline Dot Com Sdn. Bhd.
36. WeChat Pay Malaysia Sdn. Bhd.
37. XOX Com Sdn. Bhd.

Meanwhile, there are a few Banks with e-money issuer license as well.

1. AmBank (M) Berhad
2. Bank of China (M) Berhad
3. CIMB Bank Berhad
4. Malayan Banking Berhad
5. RHB Bank Berhad

Wow... So many of them!
Which one should we use?
Cannot be all. Right?

No worry.
We will blog about a few of most widely used or most popular e-wallet in Malaysia.

Stay tuned !!!

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[EPF-MIS] Revised Basic Savings Table effective Jan 2019

Attention to all EPF members investment scheme (MIS) members, once again, EPF has just announced that they will be revising the basic savings threshold before a member can withdraw for investment purpose effective Jan 2019.

Higher or Lower ???

Of course, it will be revised higher in view of rising inflation or the depreciation of our value of money. The new quantum for the Basic Savings in EPF Account 1 will be revised from RM228,000 (RM 950 per month for 20 years) to RM240,000 (RM1,000 per month for 20 years) at member’s age of 55 years old.

According to EPF, the basic savings refer to the amount that is considered sufficient to support members’ basic retirement needs for 20 years from age 55 to 75 aligned with the Malaysian life expectancy.

How much Higher ???

Please refer below table the new Basic Savings schedule.

How much can we withdraw from EPF account 1 for investment purpose?
Click here to learn how to calculate yourself...

Not Worth to Invest using our EPF money ???

Click here to find out our explanations...

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[Budget 2019] You have to know these WINNERs and LOSERs !!!

It was suppose to be a “national sacrifice” budget, but it turns out be a caring budget to take care the B40 targeted group while more prudent on the government expenditure. Prior to the tabling of Budget 2019 in Parliament last Friday, the markets reacted negatively in anticipation of a painful year ahead.

No more bad news = Good news ???

However, the reality, as it turned out, was not as taxing all because of the surprising RM 30billion special dividend to be given from Petronas. Effectively, this has lessen the need for deeper spending cuts and/or more punitive tax-raising initiatives. Thank you to Petronas, the national hero once again.

Let's have a summary of the potential winners and losers from this Budget 2019:

Carlsberg & Heineken (Positive)

Oversold position prior to Budget 2019 in anticipation of higher sin tax on alcoholic drinks, but it was a non-event last Friday. Potential relief rally for brewers.

BAT (Positive)

Absence of tax hike bodes well for the cigarette company. Potential relief rally.

Opcom (Positive)

Allocation of RM1bn from the government to develop broadband infrastructure in the next five years. Opcom is one of Malaysia's leading fiber optic manufacturer.

MyEG (Positive)

Targeted fuel subsidy to eligible vehicle owners need the help of technologically-ready provider like MyEG.

Mah Sing, LBS Bina, Huayang & Sentoria (Positive)

Lower interest rates, higher financing margin and 100% stamp duty waiver could help the first-time home buyers, and this is good news to affordable home developers.

KPJ Healthcare & IHH (Slight Positive)

Due to the new B40 National Health Protection plan for lower income group.

Genting & GENM (Negative)

Two of the biggest losers from Budget 2019 due to higher casino license fees and gaming duties.

Magnum & BJTOTO (Slight Negative)

Special draws will be reduced by half, but it's a relieve that sin tax was unchanged.

Nestle, F&N Malaysia, Power Root, BJ Food & MSM (Negative)

Due to the new excise duty on sugary drinks. MSM is local sugar refiner.

AirAsia & AAX (Negative)

Starting 1 June 2019, with the rate at RM20 for outbound travellers to ASEAN countries and RM40 to countries other than ASEAN. And, higher fuel price was projected for 2019 and 2020. The abolishment of the RM20,000 p.a. tax cap for Labuan-based companies and to be taxed at 3% flat. Companies like AirAsia and AAX register their aircraft in Labuan.

Sime Darby Prop, SP Setia, Sunway (Negative)

Increase in stamp duty, introduction of RPGT from year 6 onwards and REHDA promised 10% reduction in the prices of new houses.

Sime Darby Plant, Felda, IOI Corp (Negative)

Higher minimum wage will increase the labour cost for planters.

MAHB (Neutral)

Government proposed to set up the world's first Airport REIT. It doesn't affect the profits of MAHB because the only difference is that, once the airport REIT is established, MAHB will no longer pay the user fee to the government, but will instead pay to the new airport REIT.

Disclaimer: This article is not intended, and should not under any circumstances be construed as, an offer or a solicitation of an offer to buy or sell the securities referred to herein or any related financial instruments.

Have a good trade ahead !!!

Budget 2019: Economic Highlights and Un-Budgeted Items?

From the recently announced Budget 2019 themed as 'Malaysia Wibawa, Ekonomi Dinamik, Rakyat Sejahtera', it will have 3 focus areas, and 12 main strategies to put the country back as an "Asian Tiger" again (hopefully), as what we enjoyed during 1990s until the Asian financial crisis.

Below is the 3 focus areas:

• 1st : Implement institutional reforms
• 2nd : Ensure people's well-being
• 3rd : Nurture a culture of entrepreneurship

The very first budget announcement from the new government after 60 years of independence caught the eyes of the world, especially economists, to gauge the thinking of the new ruling coalition's future policies. Well, it was considered as an expansionary budget, although facing fiscal constraint, partly due to 1MDB scandal.

Economic Highlights from Budget 2019:

1. Government real debt and liabilities as at end-June 2018 stood at RM1.065 trillion, which is RM350 billion more than the official sum revealed by the previous government
2. Forecasts 2018 GDP growth at 4.8%
3. Forecasts 2019 GDP growth at 4.9%
4. Debt for 2019 expected to reach 51.8% of GDP
5. Total liability in 2019 expected to declines to 73.5%
6. Budget deficit for 2018 revised to 3.7% vs 2.8% previously (after taking into the 'real' debt figures)
7. However, the fiscal deficit is projected to narrow to 3.4% of GDP in 2019

Huh? What is the so called "un-budgeted items" by previous goverment?

According to the Budget 2019 speech, the increase in fiscal deficit arises after taking into account previously un-budgeted items such as below:

• RM1.0bn interest servicing cost for 1MDB debts,
• RM1.3bn in compensation for the acquisition of Eastern Dispersal Link in Johor which was announced last year,
• RM1.0bn for Prasarana,
• RM1.4bn for Ministry of Transport rail projects, and
• paying back some GST refunds of RM3.9bn.
  

Well, well, well... It's good that the new government is transparent about our financial health. However, this would not be good in the eyes of rating agencies, which may potentially downgrading our credit rating later. What do you think?

"Although the 2018-2019 budget deficits were adjusted higher – derailing theoriginal course of fiscal consolidation – we are confident that international ratingagencies will look past this as a one-off event." ~ RHB Research

"Over the medium term, the deficit is seen reducing to the region of 2%, though the government did not mention the exact time period. As such, we do not foresee any changes in Malaysia’s sovereign credit rating." ~ TA Securities

Below is the info-pictures designed by Finance Malaysia team to highlights some of the key announcements:

Next we will blog about the possible winners and losers for share investors. Stay tuned !!!

Five Successful ECF Campaigns in Malaysia

According to the statistics from Securities Commission Malaysia (SC), Malaysia's equity crowdfunding (ECF) platform had raised a total of RM38.36 million since its inception in 2015 (until June 2018) through 40 campaigns.

Among the key take away from the statistic was:

• 48% sought funding of RM500k and below
• 60% of the issuer was technology-based companies
• 72% of investors are below the age of 45

However, many investors don't have an idea of what sort of companies will be in an ECF platform and if you're curious to know some of them, we believe this article will help you to have a glimpse of them. Here you go...

Below are the 5 companies that catches our eyes:

1. Parenthood via Crowdo
   ^ Malaysia's 1st London Street Family Park is the ultimate venue to seek modern-day parenting amenities, services, products & enriching experiences for parents & children
   ^ Opened to public at Sunway Putra Mall and Sunway Pyramid Mall
   ^ Crowdo's first successful ECF offer in Malaysia
   ^ First South East Asia’s non-tech ECF issuer
   
   
   
   
   
2. Kakitangan.com via PitchIn
   ^ The fastest ECF campaign in Malaysia to raised their first RM1mil in just 24 hours (at that time)
   ^ Raised from a record of 63 investors (Sept 2016)
   ^ An online HR Software for Malaysian businesses that helps handle payroll, claims, benefits, leave and more...
   
   
   
   
3. Lewré via AtaPlus
   ^ Founded by renowned designer and couturier, Dato’ Lewré Lew Fong Voon, in 1997
   ^ RM1.2mil raised for the homegrown brand
   ^ Had designed footwear for Kate Middleton, Duchess of York, and members of the Malaysian Royal Family
   
   
   
   
   
   
4. BabyDash via PitchIn
   ^ Becoming the ECF record breaker by attracting 131 investors and raised RM1.5mil
   ^ Breaking the previous record achieved by Kakitangan.com
   ^ Malaysian online baby store founded by two mums looking for convenient way to purchase diapers and milks @@!
   
   
   
   
5. Fundaztic via PitchIn
   ^ Fastest ever funded ECF deal in Malaysia (as at Oct 2018)
   ^ RM3mil raised in 38 minutes !!!
   ^ The homegrown P2P operator brand from PeopleLender Sdn Bhd
   ^ The first P2P crowdfunding platform raising funds from another crowdfunding ECF platform

Of course, this is just a few successful examples from us. There are more than this five companies that raised funds via ECF platforms. Hopefully, we can write about more companies in the future.

In case you missed out our previous article on ECF, please click here:

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

[ECF] Knowing all the SC approved ECF operators

Stay tuned!

[ECF] Knowing all the SC approved ECF operators (Updated in March 2019)

After understanding how and why Equity Crowd Funding (ECF) existed nowadays (click here to read our previous ECF article), let's move on knowing all the approved ECF operators in Malaysia now.

Below is the intro of SC approved ECF operators (as at end Mar 2019):

1. Ata Plus Sdn Bhd (www.ata-plus.com)
   * Founded by 3 persons whom came from different background
   * Believe that matching capital with exciting businesses has a far reaching productive social and economical outcomes
   * The world's First Blockchain Enhanced Licensed Equity Crowdfunding Platform
   
   
   

   
   
2. Crowdo Malaysia Sdn Bhd (www.crowdo.com)
   * A regional fintech company offering a full portfolio of P2P and ECF solutions
   * Although Crowdo don't have P2P license in Malaysia, the company is an active P2P player in Indonesia
   * Launched in 2013, Crowdo is one of the region's largest and fastest growing platforms with over 38,000 members, 3500+ projects, and market presence in Singapore, Indonesia and Malaysia
   
   
   
   
   
3. Eureeca SEA Sdn Bhd (www.eureeca.com)
   * Dubbed as the first Global equity crowdfunding platform
   * Launched in 2013, Eureeca has presence in UK, Netherlands, Dubai and in Malaysia (2015)
   * With 18,000-strong investor network
   
   
   
   
   
   
4. FBM Crowdtech Sdn Bhd (www.fundedbyme.com)
   * Founded by a group of Swedish
   * Have been shaping the crowdfunding industry since 2011
   * Up-to-date, the platform already successfully raised EUR 55,064,050 and with 250,000+ registered members
   
   
   

   

   
   
5. Pitch Platforms Sdn Bhd (www.equity.pitchin.my)
   * Described as Malaysia's national crowdfunding platform
   * Since inception in 2012, the pitchIN rewards venture has become the most successful rewards crowdfunding platform in South East Asia
   * It holds records for projects that raised the most funds and for the most number of backers for a single project
   
   
   
   
   
6. Crowdplus Sdn Bhd (www.crowdplus.asia)
   * Backed by Netrove Ventures Group, a regional tech-based venture capital firm
   * Leveraging on a tried and tested deal sourcing and selection process that will enhance the quality of deals presented to the crowd
   * Launches the unique "QMI" feature that will bring to play qualified mentors and investors across the region to achieve greater value creation and enhance success for companies funded
   
   
   
   
7. Fundnel Malaysia (www.fundnel.com)
   * Headquartered in Singapore with a growing presence in 6 countries across Asia Pacific
   * Using proprietary Artificial Intelligence-driven deal screening process, that analyses >50 parameters per company
   * Global network of >10,000 investors