Banking Product from Malaysia

Investor Expo 2008 is on 17 - 18 October 2008

2008-09-30T03:08:00.000-07:00

http://www.investorexpo.com.my/index.html

INVESTOR EXPO is one of the largest investment exhibitions in Malaysia.

Date : 17 – 18 October 2008
Venue : Kuala Lumpur Convention Centre, Exhibition Hall 5, Ground Level
Time : 10am to 8pm

The goal of the INVESTOR EXPO are to bring to the discerning retail investor high-quality interactive investment seminars including a broad spectrum of investment topics and hosted by industry experts. With a varied cast of exhibitors offering their investment strategies and products, retail investors are sure to find their asset class of choice to invest in.

With over 40 seminars, a lucky draw with attractive prizes as well as panel discussions with a diverse panel of speakers from the financial industry & listed companies, the expo is expected to draw a crowd of over 10,000 visitors. So be sure to mark it on your calendars and stop by!

List of Sponsors includes
Platinum
BURSA Malaysia
CIMB Investment Bank
MIRA
OSK

Gold
Edgeworth Properties
Walton International

Silver Sponsors
Assetton
Australian Wine Index
Glenmarie Cove Development
Land Wealth Centre
Mines Marketing
MK Land
Premium Liquid Assets
RBTR Asset Management
Universal Asset Group

Standard
Adam Khoo Learning Technologies
Easy Forex
E-Minis Asia
Jupiter Securities
MF Global
PowerUp Capital
T3B System

Prize sponsors
Bella
Courts
Premium Liquid Assets

Take the oppurtunity to get some financial knowledge and freebies (Free CDS opening) when going to this exhibition. I foresee some property, wine, equity/stock market, options investment around the place.

Fundsupermart is here in Malaysia !

2008-09-04T04:17:00.000-07:00

Good news !

The famous Unit Trust portal that was popular in Singapore is now in Malaysia too. Based on the website www.fundsupermart.com.my , you can buy funds from the following fund house namely Affin, Alliance, AmMutual, OSKUOB, Pheim, Prudential, RHB and TA investment. Hopefully more will be joining the bandwagon

One of the specialty of FundSuperMart is the pricing. Their sales charges at 2% or lower. Besides that, the company outline the following benefits
1. Specialization
2. Better independent research content
3. Strong tools i.e Chart Centre, fund returns and fund selector
4. Short transaction time
5. Wide range of fund
6. Long operation hours hotline
7. Great service - this is subjective though ;)
8. Can share your idea in the forum
9. Strong Ownership
10. Can use EPF to purchase your fund

Potential concern
1. You have to make your own decision on which fund to buy
2. You may not feel comfortable when putting your account in nominees/trustees

My take on this
1. Worth to invest if you buy the idea of professionally managed unit trust at reduced charges
2. Increase your knowledge based on the research report available in the website
3. Chance to mingle with the like minded people via the forum

Hope with more competition on the sales charge rate, everyone can benefit with the service. This is in lieu of high inflation and possible economic recession.

Cash deposit and Fixed deposit contest and campaign - Comparison between Maybank, EON, RHB and HLB

2008-07-10T07:44:00.000-07:00

Hi,

Noticed now few banks are offering various incentive for people to put their money to bank ? Perhaps that's a cheap way too raise capital than issuing bond ? Anyway it's a boon for the consumer.

Maybank

Weekly prize 2000 X 2 winners
Weekly consolation Swatch watch X 3 winners
Grand prize BMW 320i X 1 winner

Important things to know
1. Contest period from 1st March 2008 - 31 August 2009
2. You need to deposit 1000 (Savings/Current) or 10 000 (Fixed Deposit) to qualify for 1 entry
3. Contest winner is determined by Matrix concept
4. Weekly prize winner can only win 1 prize within a month and eligible for grand prize draw and winner have to sustain the amount throughout the Campaign period and that your name has been picked as a Winner based on the Terms and Conditions of the Campaign.
5. No entry form are required

EON
Monthly price
1st prize - 20 000 X 1 winner
2nd prize - 5 000 X 1 winner
Consolation - 1 000 X 100 winners
Grand prize - 500 000 X 1 winner

Important things to know
1. Contest period from 1 June 2008 - 31 January 2009
2. You need to maintain minimum monthly incremental average balance (Formula = [date of opening]/[No of days in a month]) of 1000 (Personal) or 5000 (Business)
3. Contest winner is determined by Spin the Ball method
4. Monthly winner are eligible for grand prize if monthly balance and monthly average balance are maintained from the day the winner are announced.
5. Contestant are required to register their mobile phone and will received SMS notification if eligible for this month contest

RHB
Weekly prize (Capped to 5000)
Free Petrol Voucher X 1 winner
Free Grocery Voucher X 1 winner
Free Electricity for 1 year X 1 winner

Important things to know
1. Contest run from 1 July 2008 until 31 August 2008 or until a total of 200 million in MaxFD deposits is received
2. Deposit 10 000 in a 24-month MaxFD (Type of Fixed Deposit) to get 1 entry
3. The MaxFD had the following rates
First 6 months – 3.70% p.a.
Next 7th month to 12th month – 3.80% p.a.
Subsequent 13th month to 18th month – 4.00% p.a.
Remaining 19th month to 24th month – 4.50% p.a.
4. Winner will be determined by random pick and short listed candidate are required to have a question and answer session
5. For early withdrawal of FD, interest will be paid based on 50% of the rate contracted at the point of withdrawal for the completed months subject to the completion of 3 months from the date of placement

HLB

Consolation prize X 48 winners
Grand price up to 3333 X 3 winners

Important things to know
1. Contest run from 1 July 2008 until 30 September 2008
2. Open via 500 for Junior/Senior savings or deposit 1000 for other deposit accounts. Sign up for a Savings Multiplier Plan (SMP) to get additional 20 entries. Every subsequent top up of 150 entitles you to 1 entry. Qualified deposit accounts must also maintain a min balance of 500 till 15 th Nov 2008 and the account must remain open at the point of draw.
3. The incremental deposit growth will be used to calculate their daily average balance for contest entries.
4. Grand prize winner are required to answer 2 questions correctly to win
5. Contestant must fill in the contest entry form by providing their Name, IC Number, e-mail address and hand phone number.

All in all, the contest above have various advantages and disadvantages depending how much money you have, period and the contest price

List of award
Most lucrative cash grand prize - RM 500 000 by EON Bank
Most lucrative non cash grand prize - BMW 320i by Maybank
Furthest closing date - 31st January 2009 by EON Bank
Shortest contest duration - 2 months by RHB Bank
Most attractive weekly prize - RM 5000 by RHB Bank
Most attractive prize winner - RM 20000 by EON Bank
Most number of prizes - 813 prizes by EON Bank
Most number of prizes in a month - 102 pries by EON Bank
Least amount required to participate - 150 for Savings Multiplier Plan by HLB Bank

Strategy to maximize the contest winning
1. Participate for Maybank, HLB for contest that closed between 31st August and 30th September
2. Withdraw all the money from Maybank and HLB if didn't win the contest
3. Put your money by 1st day of the month to EON Bank in the multiple of 1000 beginning from October 2008 till January 2009
4. Pray hard that you're one of the winner

Giant-Citibank Credit Card - worth it ?

2008-07-09T03:27:00.000-07:00

Hi,

Citibank had done it again ! After UOB had partnership with Carrefour via UOB One card, it's time for Citibank to co-brand with Giant hypermarket. Currently, there's promotion for applying the Citibank card too !

You not just get 1 but 3 offers namely
1. 10% purchase rebate for 1st purchase before 31st August 2008
2. 1 year free waiver (subsequently, RM90/year)
3. Get Olympus Digital Camera (FE-330) at RM349 (Need to include RM50 for delivery charges)

Other key features
1. 2% rebate on purchases made at Giant Malaysia
2. Get up to 1% rebate on spending outside Giant stores (except Fuel)
3. Purchase with purchase programs
4. Members only items

Something you might want to consider (Terms and condition)
1. Rebate may not apply for all purchase especially fuel
2. Maximum rebate of RM50 are available for 1st purchase
3. Existing Citibank card holder need to convert to Giant-Citbank card to enjoy these offer. You cannot carry forward your point to this card
4. The rebate you get for the 1st time purchase are in the form of voucher, delivered via your monthly statement (up to 8 weeks) and need to be used by 31st August 2008

No.	Spending Amount (RM)	Number of Voucher in RM5 denomination each
1.	50 – 99	1.
2.	100 – 149	2.
3.	150 – 199	3.
4.	200 – 249	4.
5.	250 – 299	5.
6.	300 – 349	6.
7.	350 – 399	7.
8.	400 – 449	8.
9.	450 – 499	9.
10.	500 and above	10.

5. 2% rebate exclude purchase from Cold Storage and Guardian shop

In conclusion, the offer is not as rewarding as other co-brand credit card in the market. Some credit card can offer up to 1.5% for utility payment and 5% for fuel. Unless you need to buy the Olympus camera or spending a lot on Giant hypermarket, you're better of trying with UOB One (Rebate starting from RM4 with minimum purchase of RM100 and above - per RM50 transaction). For list of merchant, check it out here.

Credit card tiered interest rates and its implication on calculation of outsanding balance

2008-07-08T02:04:00.000-07:00

Do you know that beginning July 2008, there's some changes towards your interest rates in your credit card ? According to BNM directive issued last year, you'll be offered a better credit interest if you're a good paymaster. The purpose of this was to promote prudent financial management and inculcate good financial discipline among credit card users in Malaysia.

According to BNM, on average, one-third of credit cardholders use their credit cards as a payment instrument, settling their credit card outstanding amount in full every month. More than half of cardholders pay at least the minimum amount due promptly and roll over the remaining balance. For the benefit of credit card users who have a good track record of settling their credit card balances which are due each month, promptly for 12 consecutive months, the finance charge will be reduced from the maximum of 18% per annum to not more than 15% per annum. The ceiling rate of 18% per annum will still be applicable for other cardholders.

The rate are as follows
1. With prompt minimum repayment for 12 months within 12 consecutive months.
You will enjoy 15% per annum of the total outstanding balance from the 13th month.
2. With prompt minimum repayment for 10 months and more within the last 12 consecutive months. You will enjoy 17% per annum of the total outstanding balance from the 13th month.
3. Credit cardholders who do not meet the above criteria. You will be charged 18% per annum of the total outstanding balance.

In addition, with the introduction of the tiered interest rates, the following fees will apply
1. Late Payment Fees - Minimum of RM10 or 1% of total outstanding balance as at statement date, whichever is higher, capped to a maximum of RM100.
2. Interest Free Period for Retail Transactions - A 20-days interest free period on all retail transactions, provided all outstanding balances of the previous month, as per the monthly statement, are fully settled.
3. Where the Interest Free Period is not applicable, finance charges as per applicable tiered rate per month will be levied on all retail transactions from the date the retail transactions are posted.

Note: Retail transactions exclude Cash Advance, Balance Transfer and any other credit plans.

That meant you'll won't be enjoying any 20 days interest free period for your current purchases if you have previous outstanding balance ! In addition, late payment fees have been increased from min RM5 to RM10 (or 1% whichever is higher) really a blow to consumer if you forgot/late in paying your credit card

To further understand this implication, here are some illustration
Illustration 1
Cardholder A has an outstanding balance of RM1,500.00 at the end of February 2007 and only repaid a sum of RM500.00. Cardholder A’s March 2007 Card Statement reflects the balance of RM1,000.00 rolled over from February 2007. Any Card Transaction performed by Cardholder A in the month for March 2007 will not enjoy the benefit of the Interest Free Period.

Illustration 2
Cardholder B has an outstanding balance in his Card Account for September 2007 but settles all outstanding balances in October 2007. Cardholder B’s November 2007 Card Statement shows no outstanding balance carried forward. Subsequently, Cardholder B maintains an outstanding balance for November 2007 and repays in full in December 2007. Cardholder B’s January 2008 Card Statement shows no outstanding balance carried forward. Cardholder B enjoys Interest Free Period for all Card Transactions performed in November 2007 and January 2008.

7 Swipes gets you a return trip to Singapore

2008-07-07T01:37:00.000-07:00

Do you know that you can fly for free to Singapore by swiping credit card ? That easy ? HSBC credit card is offering that. For those not on existing card holder,

Benefits of taking JetStar to Singapore
1. Free checkin luggage limit of 20kg
2. Flight departure from KLIA
3. Ability to select seat at no extra charge

How to get free ticket
1. Register 1st using SMS to 33733
2. Start swiping for 7 times
3. Get reservation code via SMS
4. Login to http://www.jetstar.com/specials/hsbc
5. Choose preferred departure and arrival date. Only can book one at a time
6. Decide on the time and accept the terms and condition
7. Fill in passenger information and preferred seats
8. Fill in the voucher code
9. Use HSBC credit card to pay fuel surcharge, airport tax and admin fee. All bookings are non refundable and non changeable

Terms and condition
1. Booked by 30th September 2008
2. Travel by 29th March 2009
3. Ticket redeemed for Jetstar KL-Singapore-KL flight
4. Seat subject to availability
5. Travel voucher non transferable for cash nor accumulated
6. Limit to 1 passenger per travel voucher only
7. No refund will be entertained should passengers fail to key in the voucher provided
8. Fuel surcharge, airport tax and admin fee bared by the card holders when booking the flight.
9. For new card holder of HSBC, offer only for 1st 10000 approved HSBC Primary card holder
10. For 7 swipes, the cutoff period is 11.59pm 31st August 2008 or Limit of 30000 tickets free flights whichever is earlier
11. Your confirmation code will be received within 3 weeks from your 7th swipe.

5% cash rebates on petrol using RHB Travel Money credit card

2008-07-06T01:02:00.001-07:00

In times of high fuel price and high inflation, any discount and rebates are welcomed. Today, I would like to share with you a discount that I've come across. It's from RHB Travel Money credit card. You can get the application form here.

The benefits/terms of this discount
1. Rebates of 5% irregardless of which fuel brand
2. Earn up to RM60 rebates per month (Can pump up to RM1200 worth of fuel) for both primary and supplemental card holders
3. Promotion until 31st August for 5% - Subsequently revert to 2% 1st September 2008 to 31st December 2008)
4. All rebates are non-transferable or exchangeable for cash
5. All rebates afforded to the Cardmember for transactions made under the Rebate Programme are in lieu of Air Miles reward points usually associated with the Card unless stated otherwise - So no air miles accumulation for fuel purchase
6. Rebates be paid on the next statement date

To find out further, please checik it out here

Banking Industry Seminar for SME

2008-07-02T01:41:00.000-07:00

Hi,

Anyone of my reader here are owner of some SME industry ? There will be a seminar organized by ABM (The Association of Banks in Malaysia). The them for this seminar is Enhancing SME Awareness and Access to Financing.

Date : Wednesday (9th July 2008)
Venue : Mandarin Oriental - Grand Ballroom
Time : 08.15 - 18:00
Cost : RM 150
Closing : 5th July
Includes : Seminar materials, refreshment and lunch

The seminar will have guest of honour - YBhg Tan Sri Dr Zeti Akhtar Aziz. She's the current Governer for Bank Negara Malaysia. There will be representative and talks from various bank i.e. Maybank, RHB, OCBC, Citibank, Affin and CGC on the various financing and options for SMEs

For further info, download the form here

In my opinion, it'll be a good chance for everyone to meet with the banker in the industry and find out more other SME. Attend it before it's getting too late

MortgageKLIBOR - 1st in Malaysia !

2008-07-01T08:21:00.000-07:00

Hi,

Saw this innovative home loan product while reading the newspaper. It was from Standard Chartered. The name of the product is MortgageKLIBOR. What so special about this product you might ask ? Your home loan is pegged to KLIBOR ! KLIBOR is actually stand for KL Inter Bank Offered Rate. That is the rate that derives from the activities of borrowing and lending funds between banks in Malaysia. You can find those rate in all major newspaper. It's a monthly rest term loan which followed rate that usually lower than the BLR !

I proceed to check with StanChart on this by asking further information. On reply, StanChart mentioned that there's NO monthly maintenance fees and NO hidden charges. It has been made simple just for your convenience.

One caveat for this loan is that installment will change to reflect the latest 3 month KLIBOR every quarter. That meant your installment may go up/down depending on the market rate. In addition StanChart had a policy that your total debt exposure can not exceed 80% of your income.

The current rate offered by StanChart is KLIBOR+1%

The requirement for application for this home loan as follows
1) Photocopy of your I/C
2) Latest EPF statement or Tax assessment Form as a proof of your income declaration
3) Latest 3 month pay slip @ latest employer’s confirmation letter of your current salary
4) Latest 3 month bank statement whereby you salary credited & latest 3 month of your saving account
5) Duplicate copy of Sales and Purchase Agreement or the payment receipt of your purchasing

Disclaimer : As much as I've tried to furnish you with as accurate information as possible, I make no guarantees in any manner as to the accuracy of the content when the financial institution changed their plan along the way. Please do check again with them before deciding to go ahead with the product offered.

Welcome to Banking Product blog for all Malaysian !

2008-07-01T08:02:00.000-07:00

Hi,

This is my first post on banking product blog. The aim of this blog is to share various banking and financial products offered in Malaysia. Hopefully, that will benefit everyone here in Malaysia.

I welcome any feedback and comment in the quest of benefiting anyone and in return getting improved financial intelligence.

Regards/Victor