Bitcoins

Bitcoin is a virtual currency of the Internet invented in 2008 by an anonymous computer scientist known only by the pseudonym Satoshi Nakamoto. It's the first decentralized electronic currency not controlled by a single organization or government but their release is tightly controlled, mimicking a central banking system's control over the minting of money.

Bitcoin is the first digital currency that is completely distributed. The network is made up of users like yourself so no bank or payment processor is required between you and whoever you're trading with. This decentralization is the basis for Bitcoin's security and freedom. Bitcoin is an agreement amongst a community of people to use 21 million secure mathematical tokens (bitcoins) as money.

The benefits of bitcoins are as follow:

1. There will never be more bitcoins
2. They are impossible to counterfeit
3. They can be divided into as small of pieces as you want
4. They can be transferred instantly across great distances via a digital connection such as the Internet.

This is accomplished by the use of powerful cryptography many times stronger than that used by banks. Instead of simply being "sent" coins have to be cryptographically signed over from one entity to another, essentially putting a lock and key on each token so that bitcoins can be securely backed up in multiple places, and so that copying doesn't increase the amount you own.

The value of a bitcoin soared from USD 13 in January 2013 to a high of USD 266 in April 2013 as more businesses and consumers used them to buy and sell online. Recently, three entrepreneurs have opened the world's first bitcoin ATM in Vancouver, Canada. Instead of cash transactions, the ATM swaps Canadian dollars for bitcoins.

Bitcoins can be bought with near anonymity, which supporters say lowers fraud risk and increases privacy. Critics say that also makes bitcoins a magnet for drug transactions, money-laundering and other illegal activities. However, the virtual currency is gaining hold among businesses and consumers, a key step to a bigger role.

Mum & Kids@Baby Fair (Penang PISA)*!

*PROMOTION : Mum & Kids@Baby Fair (Penang PISA)*!

Mum & Kids is organize a baby fair at Penang Pisa!
Brands that joined the event includes Pigeon, Medela, Tommee tippee, Bebe, deidealgifts, Little boy, Philip AVENT, Cell safe, MamyPoko, Perreno, and many more.

Location: Penang Pisa, P7 & P8, Hypergear
Enquiry : +03 6205 3631

*PROMOTION PERIOD:  01/Nov/2013 ~ 03/Nov/2013 (11:00am~9:00pm)

*TERM AND CONDITIONS: -

 

 

 

Malaysia Budget 2014

Budget 2014 for Malaysia was presented officially on last Friday. Two major announcements of Budget 2014 were the 6% Goods and Services Tax (GST) rate and abolition of the 34 sen sugar subsidy. Let's go through all the highlights of Budget 2014 and its impact to specific group of people.

For everyone,

• 6% GST will be implemented on 1st April 2015 with the GST rate among the lowest in Asean countries. Sale, purchase and rental of residential properties as well as selected financial services were exempted from GST. Similarly, GST would be excluded in transportation services such as bus, train, LRT, taxi, ferry, boat, highway toll and education & health services.
• Abolition of sugar subsidy effective from 26th October 2013 due to the high diabetic rate among Malaysians under the age of 30.

For the lower income group,

• Under BR1M 3.0, households with a monthly income of below RM 3000 can get RM 650 (increment of RM 150 from BR1M 2.0). BR1M assistance of RM 450 is also extended to households with monthly income of between RM 3000 and RM 4000. 
• For single individuals aged 21 and above and with a monthly income not exceeding RM 2000, BR1M is increased from RM 250 to RM 300.
• One-off cash assistance of RM 300 to households who are BR1M recipients would be given when GST is implemented.

For affordable housing,

• For gains on properties disposed within the holding period of up to three years, the RPGT rate is increased to 30%, whereas for disposals within the holding period of up to four and five years, the rates are increased to 20% and 15%, respectively. For disposals made in the sixth and subsequent years, no RPGT is imposed on citizens, whereas companies are taxed at 5%.
• For non-citizens, RPGT would be imposed at 30% on the gains from properties disposed within the holding period of up to five years, and disposals in the sixth and subsequent years, RPGT is imposed at 5%. Minimum price of property that could be purchased by foreigners will be increased from RM 500000 to RM 1million.
• Government also prohibits developers from implementing projects with Developer Interest Bearing Scheme (DIBS), to prevent developers from incorporating interest rates on loans in house prices during the construction period. Financial institutions are prohibited from providing final funding for projects involved in the DIBS scheme.
• To further increase access to home ownership at affordable prices, an estimated 223000 units of new houses will be built by the government and the private sector in Year 2014.
• Government will allocate RM 578 million to the National Housing Department (JPN) for low cost flats consisting of 16473 housing units. Government will provide 80000 housing units with an allocation of RM 1 billion under affordable housing scheme. The sales price of the houses will be 20% lower than market prices.
• Introduce the Private Affordable Ownership Housing Scheme (MyHome) to encourage the private sector to build more low and medium-cost houses. The scheme provides a subsidy of RM 30000 to the private developers for each unit built. Preference will be given to developers who build low and medium-cost houses in areas with high demand and limited to 10000 units in 2014. The scheme is for housing projects approved effective from 1st January 2014 with an allocation of RM 300 million.

For government servants,

• Half-month bonus for 2013 with a minimum payment of RM 500 will be paid in early January 2014.
• Pensioners will receive a special financial assistance of RM 250 to assist them meet the rising cost of living. 

For employees,

• Individual income tax rates would be reduced by 1% to 3% for all tax payers to increase disposable income.
• Special tax relief of RM 2000 will be given to taxpayers with a monthly income up to RM 8000 received in 2013.

For students,

• 1Malaysia Book Voucher Programme valued at RM250 will continue to be provided to each student. The initiative is expected to benefit 1.3 million students involving an allocation of RM325mil. 
• RM 100 schooling assistance will still be given to all primary and secondary students.

Mom's Care @Warehouse Sale (up to 70% OFF)*!

*PROMOTION : Mom's Care @Warehouse Sale (up to 70% OFF)*!

Mom's Care Warehouse Sale is now back to IPC Shopping Center, it starts from today till 10 November 2013 (Sunday)! Discount up to 70% . Participated brands are AVENT, Esprit, Fisher-Pirce, Growin' up, Mattel, Hot Wheels, Hello Kitty, Jingle Jungle and many more !!

Mom's Care Warehouse Sale is now back to IPC Shopping Centre!!!
Up to 70% OFF!!!

Location: S-7B, Second Floor, IPC Shopping Centre (Next to IKEA). 
Enquiry : +603 7729 3312

*PROMOTION PERIOD:  25/Oct/2013 ~ 10/Nov/2013 (10:00am~10:00pm)

*TERM AND CONDITIONS: -
 

Clarks@Warehouse Sale*!

*PROMOTION : Clarks@Warehouse Sale*!

Clarks is offering promotion up to 50% off on selected foot wear.

Location: The Club Bukit Utama, 1 Club Drive, Bukit Utama, Petaling Jaya, Selangor

*PROMOTION PERIOD: 25~27 October 2013 (Fri & Sat: 10:00am~6:00pm, Sat: 10:00am~5:00pm)

*TERM AND CONDITIONS: 

1) While stocks last.
2) Visa/Master Card credit cards are accepted for purchases above RM200.
3) Only small bags & wallets are allowed.
4) Terms & Conditions apply.

iPad Air & iPad Mini with Retina Display

iPad Air and iPad mini with Retina Display were officially announced two days ago by Apple after almost one year the previous generations of iPad were launched.

The 5th generation iPad is called iPad Air as it is redesigned to be much lighter and thinner than the previous generation. iPad Air looks exactly like iPad mini and the only difference is the screen size. On the other hand, the new iPad mini now comes in Retina Display just as its model name tells. Both iPads come in two colours, space gray (black) and silver (white).

Both iPads are powered by 64-bit architecture A7 chip and M7 motion coprocessor. The A7 chip makes iPad Air up to 2x faster than the previous generation in both CPU and graphics performance. M7's function is to measure the motion of iPad by collecting data from the gyroscope, accelerometer, and compass. It offloads work from the A7 chip and uses lesser power than A7.

Just like the previous generations, iPad Air and iPad mini with Retina Display let you enjoy up to 10 hours of surfing the web on Wi‑Fi, watching video, or listening to music and up to 9 hours of surfing the web using cellular data network. There is no upgrade on the front and back cameras. For 1080p HD video recording, both iPads can have up to 3x video zoom.

Let's a have quick comparison on the spec and selling price of new iPads with iPad 4th gen:

Category	iPad Air	iPad 4th Gen	iPad mini with Retina Display
Processor	A7 chip	A6X chip	A7 chip
Dimension	Height: 240 mm Width: 169.5 mm Depth: 7.5 mm	Height: 241.2 mm Width: 185.7 mm Depth: 9.4 mm	Height: 200.0 mm Width: 134.7 mm Depth: 7.5 mm
Weight	469g (Wi-Fi)	652g (Wi-Fi)	331g
Display	9.7” Retina display	9.7” Retina display	7.9” Retina display
Resolution	2048 * 1536	2048 * 1536	2048 * 1536
Price	Wi-Fi (est) 16GB: RM 1499 32GB: RM 1799 64GB: RM 2099 128GB: RM 2399	Wi-Fi 16GB: RM 1449 32GB: RM 1699 64GB: RM 2029 128GB: RM 2349	Wi-Fi (est) 16GB: RM 1199 32GB: RM 1499 64GB: RM 1799 128GB: RM 2099

The iPad Air and iPad mini with Retina Display will be on sale from November onwards in the US. Not sure when the new iPads will be available in Malaysia. Could be next year?

Toshiba@Stock Clearance Sales*!

*PROMOTION : Toshiba@Stock Clearance Sales*!

Toshiba is offering Computer Stock Clearance Warehouse Sale. You may enjoy discounts that is up to 50% on selected items such as tablet, projector, mouse, computer accessories, laptop, portable hard drive and many more.

Tablet (qty:50) - RM799 ( Normal Price: RM1,399 )
Canvio Simple (qty:50) Portable Hard Drive 1TB - RM199 ( Normal Price: RM239 )
Computer accessories - RM10
Projectors - RM1,099
Laptop -  Student price RM1,199 (Normal Price: RM1,299)

Location: No.4, Jalan Saudagar U1/16, Seksyen U1, Hicom Glenmarie Industrial Park, Shah Alam, Selangor

*PROMOTION PERIOD: 26 October 2013 (10:00am~5:00pm, only 1 day)

*TERM AND CONDITIONS: 

1) While stocks last.
2)  Cash & Visa/Master Card** Only valid for transactions above RM200.
3) Goods sold are not returnable or exchangeble.
4) Terms & Conditions apply.

RHB Golden Horses of Fortune Deposit Promotion

It's 3 more months to Chinese New Year and next year will be the Year of Horse in Chinese Zodiac. RHB Bank has a new FD promotion, started from 18th October 2013 until 18th January 2014, that rewards you 24K Gold-plated Horse figurine collection when you deposit with RHB.

The campaign is open to all new and existing RHB Bank CASA Individual account holders (both residents and non-residents) of the Conventional Retail Banking segment. Eligible customers will be rewarded with GoldArt Figurine Gifts Series based on the deposit amount as follows:

Tier	Criteria	Reward	Retail Price
1	Every RM 50000 deposited in CASA	One small size 24K gold plated figurine	RM 238.00
2	Every RM 300000 deposited in CASA	Complete set of four small size 24K gold plated figurines and two medium size 24K gold plated figurines	RM 1628.00

At the same time, customers who fulfill the CASA requirement as mentioned above are also entitled to enjoy a 3-month preferential FD rate as follows:

Tier	FD Amount	Preferential Rate	Promotional Rate
1	RM 50000 – RM 299999	3-month FD Board Rate + 0.43%	3.48%
2	RM 300000 and above	3-month FD Board Rate + 0.63%	3.68%

To qualify for the reward and FD promotional rate, customers must deposit the required amount into the Participating CASA with new funds and allow RHB to hold the amount for 90 days from the date of placement. FD placement must be made with fresh fund and FD amount must not exceed the CASA “on hold” amount (3-month FD board rate as at 18 October 2013 is 3.05%).

 

Customers can also stand a chance to win exclusive gold-plate artistry frame contest via lucky draw. This is a very good promotion to usher in the new year.

Celebrity WearHouz@Warehouse sales up to 70% OFF*! (Burberry, Gucci, Prada, Coach, ...)

*PROMOTION : Celebrity WearHouz@up to 70% OFF*! (Burberry, Gucci, Prada, Coach, ...)

Looking for a bag to match your style? or that blouse that you have??? This time around, Celebrity WearHouz will be having the largest sale event for bags at Sunway Resort Hotel & Spa, Auditorium foyer, Level 7. 

Location: Persiaran Lagoon, Bandar Sunway, Kuala Lumpur, Malaysia 46150

*PROMOTION PERIOD: 19~20 October 2013 (11:00am ~ 7:00pm)

*TERM AND CONDITIONS: 

1) While stocks last.

Hong Leong TRANSFORMERS Debit Card

In the recent years, the banks have been launching Debit Cards with famous cartoon characters or logo to attract more customers. The popular ones are Hong Leong Hello Kitty Debit Card and Maybankard Superman Debit Card. Now you can get the exclusive TRANSFORMERS Debit Card when you open a CASA with Hong Leong Bank.

From 6th October to 28th February 2014, if you perform below transactions with Hong Leong Bank, you could also stand a chance to win a 3 days 2 nights family trip to Resorts World Sentosa Singapore.

Criteria	Contest Entry
Open new CASA with minimum deposit of RM 1000 and apply for a TRANSFORMERS Debit Card	20 Entries
Upgrade ATM Card to a TRANSFORMERS Debit Card with a minimum deposit of RM 300 into CASA	10 Entries
Every incremental deposit of RM 1000 into an existing CASA	1 Entry
Every RM 30 spent in a single receipt with any HLB Debit Card	1 Entry

There are also early bird gifts of limited edition TRANSFORMERS merchandise for eligible customers. Minimum deposit needs to be placed into your CASA and earmarked for 3 months. If the earmarked amount is cancelled, removed or released in less than 3 months, you will be required to pay for the penalty fee per below table:

Gifts	Minimum Deposit Amount	Penalty Fee
TRANSFORMERS Zipper Pouch (Blue or Yellow)	RM 3000	RM 20
TRANSFORMERS Sling Bag	RM 10000	RM 60
TRANSFORMERS Umbrella	RM 10000	RM 70

In my opinion, this card looks great and really worth to be a collection. To apply, just visit your nearest Hong Leong Bank branch today.

Lenovo IdeaPad A10 Android Laptop

Google Chromebooks had successfully captured almost 25% market share in the US for laptop priced at USD 300 (~RM950). The strong growth in Chromebooks has encouraged PC makers and Microsoft key partners such as HP and Lenovo to start selling Chromebooks. Following a leak of service manual and user guide of IdeaPad A10 on Lenovo's website, Lenovo has confirmed to take a bold move to launch the first laptop with pure Android OS.

Although the laptop is not yet officially launched, it was listed in Amazon Germany for €249 (~RM1068). From the price, the laptop is to be marketed as a mid-range touch device with basic features. Let's have a look at the spec:

Spec	IdeaPad A10
Processor	Rockchip RK3188 Cotex-A9 Quad Core 1.6GHz
Screen Size	10.1 inches Touch
Screen Resolution	1366 * 768 (HD)
OS	Android
Memory	1066MHz DDR3 SDRAM (PC2-8500)  DDR3L (Max Memory 1GB or 2GB)
Storage Capacity	eMMC 16GB, 32GB
Bluetooth	Only support BT & WIFI combo module
Camera	Front - 0.3 mega pixels
I/O Ports	Combo headphone jack Combo build in Microphone jack USB 2.0 × 2, Micro USB × 1 TF card (Micro-SD)
Audio	Audio Combo audio jack × 1 Speaker × 2 Built-in microphone
Video	HDMI port × 1
Touch pad	One piece touchpad
Battery	2 cells/ 22.6 Wh Polymer
AC adapter	5V Universal AC Adapter, 100-240V/50-60Hz, 10W with 5V DC output

The Android OS version preinstalled is not mentioned in the spec. One special feature for IdeaPad A10 is that the display should be able to rotate 360 degrees for viewing photos or playing videos. However, the keyboard is not detachable. The laptop recharges through the micro USB port just like HP Chromebook 11.

With the great popularity of Android in smartphone market, can Android also become the major player in laptops or we should go with Chrome OS that is specifically designed for laptops? Well, we just have to wait and see.

Caltex 3% Cash Rebate by Maybankard

Caltex had just recently launced its Caltex Journey Card and it's now partnering with Maybank to bring you cash rebate of 3 % when you swipe your Maybank MasterCard and Visa Credit Card in Caltex petrol station with minimum of RM 50. The promotion is valid from now until 13th October 2014.

 

The promotion is not applicable for Maybankard American Express Credit Cards or Charge Cards and Maybank Debit Cards. The cash back is capped at RM 60 per cardmember per month (equivalent to petrol purchase of RM 2000). Supplementary card spending is also entitled to the 3% cash rebate and it will be aggregated to the principal spending.

The allocation amount payout limit is subjected to a total of RM 600000 for all cardmembers during the campaign period, whichever is earlier, and based on first-come-first-served basis. Announcement will be made via Maybank2u.com once the limit is reached.

Real Property Gain Tax (RPGT)

Capital gains are generally not subject to income tax in Malaysia. However, Real Property Gains Tax (RPGT) is charged on chargeable gains arising from the disposal/selling of real property situated in Malaysia or of interest, options or other rights in or over such land as well as the disposal of shares in real property companies.

RPGT has been introduced in Malaysia at multi-tier rates from Year 1995 to Year 2007. It was suspended from 1st April 2007 to 31st December 2009 in a move to shore up the sluggish Malaysia property sector affected by the world financial crisis. The exemption of RPGT during this period had stimulated the property price in Malaysia.

	Real Property Gain Tax (RPGT)
Period	27/10/1995 - 31/03/2007	01/04/2007 - 31/12/2009	01/01/2010 - 31/12/2011	01/01/2012	01/01/2013
1st year	30%	0%	5%	10%	15%
2nd year	30%	0%	5%	10%	15%
3rd year	20%	0%	5%	5%	10%
4th year	15%	0%	5%	5%	10%
5th year	5%	0%	5%	5%	10%
Thereafter	0%	0%	0%	0%	0%

From 1st January 2010 to 31st December 2011, RPGT was reinstated at a single rate of 5% for all taxable gains (for all disposal within five years). For Year 2012, the RPGT rate was 10% for properties disposed within 2 years. For Year 2013, the RPGT rates were increased another 5% for properties disposed within 5 years, hoping that this would slow down the overheat property market.

In order to curb speculation, there might be another increase for RPGT in Budget 2014. The tax rate is expected to increase to 30% from 15% for properties sold within two years and 15% from 10% for properties sold within three to four years. The 10% rate would remain unchanged for properties sold in the fifth year and 0% for properties sold in the sixth year onwards.

Subsidies for Affordable Homes

Syarikat Perumahan Negara Berhad (SPNB) was established on 21 August 1997 as a wholly owned subsidiary of the Minister Of Finance Incorporated (MOf Inc.) with the objective of providing quality affordable homes for every family in Malaysia. SPNB is responsible in implementing Rumah Mampu Milik Programme and the Rumah Mesra Rakyat Programme to ensure those in low income group are able to affordably own comfortable homes.

Second Finance Minister today announced that the government will provide subsidies of between RM 15000 to RM 20000 to enable the people to own affordable homes. SPNB would come up with three types of three-bedroom affordable homes valued at RM 65000, RM 55000 and RM 45000. For the RM 65000 homes, the government will provide a RM 20000 subsidy. For those costing RM 45000, the subsidy provided is RM 15000.

The government is also pushing SPNB to be a large-scale developer of affordable houses for the people, building bungalows with a selling price of about RM 250000, alongside semi-detached and terraced houses for about RM 100000 and RM 80000 respectively.

This is a good news for the people as the property price in major cities in Malaysia has been increasing steadily over the past few years. You can take a look at all the projects by SPNB here.