RHB Friday Specials 2013 Wave 2

RHB Friday Specials is back with its Wave 2 promotion, starting from today until 27th December 2013! This promotion is applicable to all RHB Bank and Easy by RHB Credit or Debit cardmembers.

There are two promotions under Friday Specials Wave 2:

1. "Spend a minimum of RM30" - Each cardmember has to spend a minimum of RM 30 in a single receipt in order to be qualified for the free item.
2. "Buy 3 Get 1 Free" - Each cardmember has to purchase a minimum of 3 tickets in a single receipt in order to be qualified for the free ticket. The free ticket will be of similar or lower value.

The participating partners and free items are listed as below:

Partners	Free Item
Guardian	1 Guardian RM 5 Cash Voucher
Kenny Rogers Roasters	1 Kenny’s Quarter Meal
Popular	1 Popular RM 5 Cash Voucher
Secret Recipe	1 Starter Dish of Seafood Spring Roll/ Wonton
Starbucks	1 Grande beverage of your choice
Desa Water Park	1 Adult/ Child ticket
Galatic Laser	1 entrance ticket
GSC	1 GSC movie ticket
MegaKidz	1 entrance ticket
The Little Big Club (TAR)	1 The Little Big Club Single Park Pass

Payment must be made with RHB Bank or Easy by RHB Credit or Debit Cards only. It is not valid with ongoing promotions or discounts. Each cardmember can only redeem for 1 free item per day, per receipt, regardless of the total amount purchased.

PR1MA Phase 1 Announcement

PR1MA website was officially open to public for registration of interest in December last year. To date, 250000 registrations had been received for affordable housings. PR1MA has approved 20 000 homes under 15 affordable housing projects for development in Greater Klang Valley, Johor, Penang, Sabah and Sarawak.

These 15 new developments come under Phase 1 of the PRIMA programme:

Approved Projects	State	Proposed unit
Alam Damai, Cheras	W.P. Kuala Lumpur	2074
Bukit Jalil	W.P. Kuala Lumpur	416
Brickfields	W.P. Kuala Lumpur	803
Bukit Bintang	W.P. Kuala Lumpur	543
Setapak	W.P. Kuala Lumpur	800
Kajang	Selangor	1200
Seremban Sentral	Negeri Sembilan	4420
Seremban Utara	Negeri Sembilan	1754
Pasir Gudang	Johor	475
Tebrau	Johor	1298
Bayan Lepas	Penang	410
Gelugor	Penang	2100
Sungai Petani	Kedah	1349
Jalan Buli Sim-Sim, Sandakan	Sabah	1000
-	Sarawak	1877

Infrastructure work on three of the projects, namely Alam Damai, Cheras; Pasir Gudang, Johor; and Seremban Utara had started. By year-end, there will be more projects on board to meet the 80000 homes as announced in Budget 2013.

Specifications of the houses, including pricing and floor plans, will be announced in the next few months. Prices of the houses are below RM 350000 while the size of houses range from 1400sq ft to 1700sq ft for landed properties and between 670sq ft and 1300sq ft for high-rise units. 

Stay tuned for more details on PR1MA affordable homes. If you have not yet registered, please check your eligiblity here.

Acer Malaysia@RM200 Student Rebate!

*PROMOTION : Acer Malaysia@RM200 Student Rebate!

Acer is offering Student Rebate Promotion with RM200 discounts on purchase of Acer Iconia W3 or Acer Aspire V5-471-33212G20 Laptop.

Acer Iconia W3 : RM1,499, After discount RM1,299 (including Bluetooth keyboard dock), RM1,199 after discount RM999 (without keyboard dock).

The Iconia W Series puts desktop PC capability in a tablet, so you can work and play on the go more conveniently than ever. Plenty of ports connect other devices for easy expansion and charging, and the physical keyboard¹ will keep you productive. At least 8 hours of battery life rounds out these premium mobile companions.

Specification: http://www.acer.com.my/ac/en/MY/content/model-datasheet/NT.L1JSM.002

Acer Aspire V5-471-33212G50 : RM1,599, RM1,399 after discount.

The Aspire V5 Series puts inspiring performance in a thin and light form. The choice of up to four suave colours adds to the charm. A Full HD¹ touchscreen² breathes life into your entertainment and gives you hands-on control, while four built-in speakers¹ make your enjoyment all the more sweet with great sound.

Specification: http://www.acer.com.ph/ac/en/PH/content/model-datasheet/NX.M3USP.001

Customers aged 22 years old and below must provide either photocopy of student id, library card, MyKid card or Identity Card with purchase invoice. Customers aged 22 years and above must provide photocopies of student ID or library card together with Identity Card and purchase invoice.

 All Acer Authorized Dealers Stores in Malaysia ( Store Locator )

*PROMOTION PERIOD:  20/Aug/2013 onward
 
*TERM AND CONDITIONS: While stock last.

Baskin Robbins@31% OFF Merdeka Promotion!

*PROMOTION : Baskin Robbins@31% OFF Merdeka Promotion!

Baskin robbins offer 31% sales off will run for 3 whole days (Aug 29 ~ 31) in conjunction with the Merdeka celebrations this year so hurry and head on over to your nearest Baskin-Robbins outlet to get your share of yummy hand-packed goodness!!

*PROMOTION PERIOD:  29/Aug/2013 ~ 31/Aug/2013
 
*TERM AND CONDITIONS: 

1) Offer valid at Baskin-Robbins stores in Malaysia (including Cafe Baskin-Robbins) only.
2) Prices are subject to 6% GST.
3) Offer valid on every 31st of the month, unless stated.
4) Offer is not valid with other card privileges, offers & promotions, or any loyalty cards.
5) Products shown are for illustration purposes only.

Dominos Pizza@Buy 1 FREE 1 OFFER!

*PROMOTION : Dominos Pizza@Buy 1 FREE 1 OFFER!

Dominos Pizza is offering buy 1 large pizza free 1 regular pizza! Saving up to RM23.80!
What you need to do for enjoying the promotion through online ordering.
Please follow four simple steps below, 

Step 1: Login/Register at www.dominos.com.my
Step 2: Click on ORDER NOW
Step 3: Choose REDEEM COUPONS
Step 4: Enter coupon code: MER01

*PROMOTION PERIOD:  26/Aug/2013 ~ 16/Sept/2013
 
*TERM AND CONDITIONS: 

1) Price subjecy to 6% government tax. 
2) Valid for online ordering only. 
3) Valid for take away & deliver. 
4) Orders must be made online first. 
5) Surcharge applies for cheese burst double decker crusts, first class pizza range & 7-meat wonder pizza. 
6) Not valid with other promotions and discounts.

Starbucks@Merdeka Special Offer (Free add flavour!)

*PROMOTION : Starbucks@Merdeka Special Offer (Free add flavour!)

Starbuck is offering free add-on flavour to your favorite beverage (Vanilla, Hazelnut, Caramel).

*PROMOTION PERIOD:  26/Aug/2013 ~ 27/Aug/2013

*TERM AND CONDITIONS:  -

Chatime Merdeka RM1 Promotion

Chatime has started a promotion from today 26th until 31st August 2013 in conjunction with the upcoming Merdeka Day! Just visit Chatime between 3pm to 6pm during the promotion period to enjoy your tea for only RM 1 (for second cup).

The promotion is valid in all Chatime outlets except Queesnbay Mall and Gurney Plaza. It is not applicable on any other ongoing promotion and/or vouchers as well as for delivery services.

You just need to buy the first cup at normal price and get the second cup at RM 1. The second cup must be of equal or lower value drink only.

McCafé Buy 1 Free 1 in Bukit Mertajam

McCafé is coffee-house-style food and drink chain under McDonald's. Currently, there are only two McDonald's outlets that have McCafé in Penang, one in Penang Airport and another in Tesco Alma, Bukit Mertajam.

McCafé Tesco Alma has just started its operation on 17th August 2013. So there's an opening promotion for McCafé Tesco Alma outlet. With the coupon shown above, you can enjoy a free cup of cappuccino (8oz) with any menu item purchased from McCafé.

The promotion is valid until 31st August 2013. So how do you get the coupon? Just head to McCafé Tesco Alma counter and ask the staff about the coupon. That's how I got my coupon. Go grab yours today before the promotion ends!

PTPTN Defaulters Listed under CCRIS

Since its inception in Year 1997, National Higher Education Fund Corporation (PTPTN) has approved loans for 2.17 million students, of which 17387 had been exempted from repaying their loans for having graduated with first class honours. However, it was reported in July that 418094 people had yet to repay their PTPTN loans worth RM 2.8bil.

PTPTN has taken actions on the defaulters by publishing the names of defaulters in the newspapers and barring them from leaving the country because they ignored repeated reminders to repay their loans for more than five years. On 20th August 2013, Second Education Minister Datuk Seri Idris Jusoh said that PTPTN would work together with Bank Negara Malaysia (BNM) to include the names of defaulters on the CCRIS.

After 2 days, on 22nd August 2013, the government announced that the proposal has been put on hold due to an almost unified opposition response from the people. PTPTN will adopt a ‘wait and see’ approach to study the real problem behind the long list of defaulters and everyone is welcomed to give their feedback to PTPTN on ways to help defaulters repay their loans.

The impact of listing the names of defaulters on CCRIS is that it will be very difficult for them to apply for credit cards, personal loans, car loans and housing loans. This is because their installment on CCRIS is in arrears (debt overdue). If they can't borrow from financial institutions, they might end up borrowing from loan sharks. This will create even more social problems.

To ensure the sustainability of PTPTN and also no one will be jeopardised in any measures going to be implemented, the government should carefully study the reasons behind the failure of borrowers to repay their loans first then only take the necessary action.

KWSP Withdrawals

KWSP savings is not allowed to be fully withdrawn until we retire as it is a mandatory savings enforced to help us during our retirement. There are two categories of withdrawals provided by KWSP, namely Pre-Retirement Withdrawal and Retirement Withdrawal.

Pre-Retirement Withdrawal allows us to withdraw a certain amount from our savings before we reach the retirement age. On the other hand, Retirement Withdrawal allows us to withdraw all of our savings upon reaching our retirement age. Apart from that, KWSP also allows its members to make investment withdrawal when we have fulfilled the requirements.

As we all know, there are 2 accounts created for our KWSP savings, whereby 70% of our monthly contribution will go into Akaun 1 and another 30% into Akaun 2. Akaun 2 is meant for Pre-Retirement Withdrawal, which includes:

1. Age 50 Years Withdrawal
2. Withdrawal to Reduce / Redeem Housing Loan
3. Education Withdrawal
4. Withdrawal to Purchase / Build a House
5. Withdrawal Of Savings Of More Than RM1 Million
6. Housing Loan Monthly Installment Withdrawal
7. Flexible Housing Withdrawal
8. Health Withdrawal
9. Hajj Withdrawal

Below withdrawals are entitled for full amount:

1. Age 55 Years Withdrawal
2. Incapacitation Withdrawal
3. Leaving Country Withdrawal
4. Pensionable Employees Withdrawal And Optional Retirement Withdrawal
5. Death Withdrawal

As for investment withdrawal, we can invest maximum 20% of total amount in excess of our Basic Savings in Akaun 1 through the Appointed Fund Management Institutes approved by the Ministry of Finance. Basic Savings is a pre-determined savings amount in our Akaun 1 according to age to enable us to achieve a minimum savings amount of RM 120000 when we are 55 years old. You can refer to the Basic Savings schedule here.

The minimum amount for investment withdrawal is RM 1000. Direct investment is not allowed. All investments must be made through the Fund Management Institutes approved by the Ministry of Finance. All invested amounts (including the gains) must be returned to KWSP as soon as investment units are sold. The amount returned will be credited back to Akaun 1. Withdraw of any amount from investment with the Fund Management Institutes is prohibited.

KWSP withdrawal facilities certainly ease our burdens especially when we need money to pay for first house down payment, education fees and medical bills.

Sushi King@Happy Hour with 20% OFF*!

*PROMOTION : Sushi King@Happy Hour with 20% OFF*!

Sushi King is offering 20% discount for Sushi, Tsumami and Temaki on every weekdays from 3:00pm to 6:00pm. Except public holidays & public holiday replacements.

*PROMOTION PERIOD:  3:00pm ~ 6:00pm

*TERM AND CONDITIONS: 

1) Strictly for dine-in only.
2) Valid only on weekdays except public holidays & public holiday replacements (including respective state holidays).
3) Valid only for Sushi, Tsumami and Temaki taken and consumed between 3pm - 6pm.
4) Not valid with other promotions, Sushi King Card discount or other discount offers.
5) All prices are subject to 6% Government Tax and 10% Service charge.
6) Sushi King reserves the right to amend the Terms and conditions of this promotion at any time, at its sole discretion.

Base Lending Rate (BLR)

If you have already bought a house or are in the middle of looking for house, the acronym BLR should sound very familiar to you. BLR stands for Base Lending Rate, it is the rate of interest at which banks lend to customers.

BLR is a minimum interest rate calculated by banking institutions based on a formula which takes into account the institutions' cost of funds and other administrative costs. If there's a revision on OPR by Bank Negara Malaysia, the BLR of banking institutions will be revised accordingly. You can refer to the BLR of all banking institutions in Malaysia here.

Below table is the historical data for BLR from Year 1990 onwards:

Year	BLR (%)	Remark
1990	7.00
1991	7.50
1992	9.00
1993	9.50
1994	8.25
1995	6.60
1996	8.50
1997	9.25
1998	10.50
1999	8.00
2000	6.75
2001	6.75
2002	6.50
2003	6.50
2004	6.00
2005	6.00
2006	6.00
2007	6.75
2008	6.75
2009	5.55	Adjusted Mar 2009
2010	5.80	Adjusted Mar 2010
2010	6.05	Adjusted May 2010
2010	6.30	Adjusted Jul 2010
2011	6.60	Adjusted May 2011

The last revision on BLR was in Year 2011. We might expect a revision very soon, as mentioned in my last post on OPR.

Mom's Care@Baby Carnival Sales (up to 50% OFF)!

*PROMOTION : Mom's Care@Baby Carnival Sales (up to 50% OFF)!

"Baby Carnival Sale" is now back to Bandar Utama!
It has attractive promotion up to 50% OFF with variety choices as baby clothing, accessories, bedding, toys & storage items, stoleers & car seats...

Venue is 2nd Floor Promotion Area (In front of Parkson), One Utama (new wing), Selangor, Malaysia

*PROMOTION PERIOD:  Valid from 14/Aug/2013 until 18/Aug/2013 (10:00am ~ 10:00pm)

 *TERM AND CONDITIONS: -

Golden Screen Cinema@Get 2 Complimentary Movie Passes & 20% OFF at GSC Glitters Cafe!

*PROMOTION : Golden Screen Cinema@Get 2 Complimentary Movie Passes & 20% OFF at GSC Glitters Cafe!

MAXIS - GSC is offering special promotion which getting 2 complimentary movie passes and 20% Glitters Cafe Dining voucher by flashing your Maxis/Hotlink offer SMS at Glitters cafe in GSC Pavilion and Cafe Caro and Paradiso in GSC Signature, The Garden.

This offer is only valid at Glitters Café at GSC 1Utama, GSC Pavilion KL and Café Caro and Paradiso at GSC Signature, The Garden and redemption is limited to 50 customers per day per location. The limit is to enable GSC to maintain a high-level of service quality per day per location. Please visit GSC Glitters on another day.

*PROMOTION PERIOD:  Valid from 15/Aug/2013 until 13/Nov/2013 (between 11:00am to 7:00pm daily)

 *TERM AND CONDITIONS: 

Maxis-GSC offer – FAQ

1. How can I enjoy this offer?
   You will need to receive an Offer SMS from Maxis/Hotlink at the vicinity of the selected GSC Glitters Cafes.Flash the SMS to receive the 2 GSC Complimentary Movie Passes and the 20% Dining Discount Voucher.
2. At which GSC Glitters locations can I enjoy this offer?
   Please visit Glitters Café at GSC 1Utama, GSC Pavilion KL and Café Caro and Paradiso at GSC Signature, The Garden and wait for the Offer SMS from Maxis/Hotlink.
3. How do I enjoy the 20% discount on dining at selected GSC Glitters Cafes?
   Provide the original 20% Dining Discount Voucher when you dine-in with a minimum spend of RM50 in a single receipt. Good for one (1) time use only.
4. What is the validity of this offer?
   Offer is valid from 15/08/2013 till 13/11/2013 between 11:00AM to 7:00PM daily.
5. How do I get the 2 GSC Complimentary Movie Passes?
   You will be issued the passes after you flash the Offer SMS.
6. Is there a validity on the 2 GSC Complimentary  Movie Passes?
   The movie passes are valid for 1 month only, based on the date printed on the passes received.
7. Is there a validity on the 20% dining discount voucher?
   The 20% dining discount voucher is valid for 3 months only, based on the date printed on the passes received.
8. Can I use the 20% dining discount voucher for Glitters value meal?
   No, the 20% dining discount voucher is valid for a-la carte menu only, not valid for other Glitters promotion and offer.
9. Can I use the 20% dining discount voucher immediately once I received it?
   Yes, you can redeem the 20% dining discount voucher immediately OR keep it for next visit.
10. I received the Offer SMS but I was informed by GSC that I’m not eligible. Why?
    Apologies, redemption is limited to 50 customers per day per location from 11am – 7pm in a first come first serve basis and this offer is not valid for additional discount offered by GSC-Hong Leong Credit Card and other GSC promotions and offers.
11. I am unable to redeem my 20% discount on dining at GSC Glitters. Why?
    Apologies, this offer is only valid at Glitters Café at GSC 1Utama, GSC Pavilion KL and Café Caro and Paradiso at GSC Signature, The Garden and redemption is limited to 50 customers per day per location. The limit is to enable GSC to maintain a high-level of service quality per day per location. Please visit GSC Glitters on another day.
12. I was at the Glitters Café at GSC 1Utama but did not receive any Offer SMS. Why?
    Apologies, there is a limit to the number of eligible customers per day, per location in order to maintain a high-level of service quality at GSC’s dining and movie-viewing facilities. Please visit the other GSC locations at Pavilion KL or Signature Gardens or make a visit on another day.

Overnight Policy Rate (OPR)

When we are reading newspaper, sometimes we would come across Overnight Policy Rate (OPR) in the economy section. So what is OPR? OPR is actually an overnight interest rate set by Bank Negara Malaysia (BNM) used for monetary policy direction.

OPR is the interest rate at which a financial institution lends immediately available funds (balances within the Central Bank) to another financial institution overnight. OPR is under the new interest rate framework introduced by BNM since 23rd April 2004. Under this New Monetary Operating Procedures, OPR is the indicator of the monetary policy stance of BNM, with roles below:

1. As a signalling device to indicate the monetary policy stance;
2. As a target rate for the day-to-day liquidity operations of the Central Bank.

OPR will be decided in Monetary Policy Committee (MPC) meeting. Changes in the OPR trigger a chain of events that affect the base lending rate (BLR), short-term interest rates, fixed deposit rate, foreign exchange rates, long-term interest rates, the amount of money and credit.

Date	Change in OPR (%)	New OPR Level (%)
30 Nov 2004	0.00	2.70
30 Nov 2005	+0.30	3.00
22 Feb 2006	+0.25	3.25
26 Apr 2006	+0.25	3.50
24 Nov 2008	-0.25	3.25
21 Jan 2009	-0.75	2.50
24 Feb 2009	-0.50	2.00
04 Mar 2010	+0.25	2.25
13 May 2010	+0.25	2.50
08 Jul 2010	+0.25	2.75
05 May 2011	+0.25	3.00

Ultimately, a range of economic variables would be affected, including employment, output, and prices of goods and services which is the micro and macro factors on the economic. From the table above, the last adjustment for OPR was in Year 2011 and BNM is expected to maintain the OPR for the rest of this year but a possible 25 to 50 basis point hike is anticipated for Year 2014.

CCRIS Part II

In my previous post, I shared about what is CCRIS and credit report. You can get your credit report for free of charge once every 3 month from Bank Negara office. So how does the credit report look like?

This is the header of the actual credit report. The detailed credit report displays your credit history information as follow:

1. All your current loans obtained for yourself, jointly in a joint account, in your capacity as owner of a sole proprietorship and as partner in a partnership/ professional body (exclude accounts which have been settled); 
2. All your current loans under close supervision by financial institutions (Special Attention Account);
3. Your applications approved in the previous 12 months for yourself, jointly in a joint account, in your capacity as owner of a sole proprietorship and as partner in a partnership/ professional body (exclude applications that have been rejected, deleted and cancelled); 
4. All pending applications for yourself, jointly in a joint account, in your capacity as owner of a sole proprietorship and as partner in a partnership/ professional body.

This is the explanation of each field in the credit report:

No.	Field Name	Description
1	No.	Refers to sequence number in the credit report
2	Approval Date	Refers to the approval date by the financial institution
3	Status	Refers to the status of the credit facility: Outstanding, Restructured credit facility, Rescheduled credit facility, Outstanding from call of guarantee/standby LC, Pending decision by financial institution, Approved by financial institution
4	Capacity	Refers to whether the loan is taken directly or indirectly by the customer: Own, Joint, Sole, Partner, Prof
5	Lender	Refers to name of the financial institution which lends
6	Branch	Refers to branch code of the financial institution
7	Facility	Refers to the type of facility offered: Housing Loans/Financing, Credit Card, Purchase of Passenger Car, etc.
8	Account/Application Number	Refers to the account number of the facility
9	Total Outstanding Balance (RM)	Refers to total outstanding amount for each facility type. It includes “principal outstanding + interest outstanding + other charges”.
10	Date Balance Updated	Refers to date when the total outstanding was last reported.
11	Limit (RM)	Refers to total limit approved by the lending institution for each of the credit facility.
12	Collateral Type	Refers to type of collateral pledged for the credit facility 00 = Clean 10 = Properties 21 = Quoted shares 22 = Unquoted shares 23 = Unit trusts 29 = Other financial assets 30 = Motor vehicles (registered with JPJ) 40 = Other vehicles/carriers 50 = Concessions and other contractual rights 60 = Plant and machinery 70 = Financial guarantee 80 = Negative pledge 81 = Supportive letters 90 = Other assets 99 = Secured – details unknown
13	Principal Repayment Term	Refers to frequency of the principal repayment term for each facility type
14	Installment in Arrears for Last 12 Months	Refers to the number of installments in arrears for the last 12 months 1. A blank means that the data is not reported. 2. A zero means that the loan is not in arrears.
15	Legal Status	Refers to the latest legal action status taken against the customer arising from a default on the credit account If blank, there is no legal action taken
16	Date Status Updated	Refers to date of latest legal action status

If you find out that the credit report is inaccurate, it is better to liaise directly with the respective financial institution for clarification and update. The financial institution must immediately rectify any inaccurate or incomplete information by sending the amendment to the Credit Bureau to reflect your latest credit position.