Nabil Luqman

0f9d2dd4f71434084e2b6094de1865e23abb37bb9f28ca51feeabee679ec9be2

Money

tech

finance

ewallet

withdrawal

WeChat Pay

cashless payment

shutting down

In Malaysia, using direct debit cards can sometimes be cumbersome, particularly for those who might be a bit forgetful. That&rsquo;s why many people turn to alternative payment methods like eWallets. One popular option is WeChat Pay, also known as WeChat Pay MY.
Unfortunately, if you&rsquo;re a user of WeChat Pay, we have some bad news for you as the company has recently announced that they will cease operations starting September 1, 2024. Launched by Tencent in 2019, the e-wallet service allowed users in Malaysia to make payments in ringgit. As of August 1, 2024, the platform has stopped accepting new users.
<img src="https://r2.myc.my/c5278c7b270d6567e96774b3539285c5abb1f291b678aa8a8332cb0e67f0d7eb" />
Users will be able to withdraw their e-wallet balances through the portal until December 31, 2024. For those needing to make special withdrawal arrangements after January 1, 2025, additional options will be available.
WeChat Pay MY assures that its messaging service and Weixin Pay, which facilitates payments for Malaysians travelling in China and Chinese tourists in Malaysia, will remain unaffected and continue to operate normally.
How To Withdraw Your Funds From WeChat Pay?
Before a user is able to withdraw their funds, WeChat Pay MY users must first verify their identity and complete the verification process by following the steps below:
<img src="https://r2.myc.my/5a7ccf903d72419f61cc806d93ecabf109e4b399c45121454fa501450f4290cc" />
<ol>
<li>Tap on Me &gt; Pay and Services</li>
<li>Tap the 3 dots located on the top right corner</li>
<li>Tap on Payment Management</li>
<li>Tap on Identity Verification, and follow the steps</li>
</ol>
If you&rsquo;ve already performed the identity verification process, you can completely skip this section.
Withdrawal Of Funds:
<img src="https://r2.myc.my/240306f5351469e7dd37f897008359f72e8680dc251b3fed2c9d8f5dcd12496f" />
<ol>
<li>Tap Me &gt; Pay and Services &gt; Balance &gt; Withdraw.</li>
<li>Add a bank account by providing the required details.</li>
<li>Verify your mobile number after adding the bank account.</li>
<li>Submit the withdrawal request once verification is complete.</li>
<li>The withdrawal process typically takes 3 business days.</li>
</ol>
Why The Closure?
<img src="https://r2.myc.my/16deafbab2debffa8c50bdbeabccbbc8f380d9803cffecf07ba0addad89c0d39" />
The closure aligns with Tencent&rsquo;s new strategy to focus on cross-border payments, specifically targeting Chinese tourists, rather than maintaining its local e-wallet operations. Despite this, WeChat's messaging service and Weixin Pay, which facilitates payments for Chinese users in Malaysia, will continue to operate as usual.
WeChat Pay was introduced in Malaysia in 2018, but has faced stiff competition from local e-wallet providers. Tencent&rsquo;s strategic shift aims to capitalize on the recovery of outbound Chinese tourism and enhance payment solutions for Chinese visitors. The company also plans to support cross-border QR payments and collaborate with local Malaysian e-wallets to benefit Malaysian travellers in China.
Be sure to withdraw your funds promptly. If you need any assistance, don&rsquo;t hesitate to reach out to WeChat Pay MY&rsquo;s customer service at 03-2727 9797.
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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The company is shifting its focus to catering to Chinese tourists in other countries.

a3ac7ea68b77e361f7f59161afd2786078bed4a8930d7814e4491eec4c0a69c7

WeChat Pay MY To Cease eWallet Services; Here’s How You Can Withdraw Your Money

The Malaysian government is set to roll out a two-tier pricing system for RON95 fuel by mid-2025, utilising MyKad as the primary tool for determining subsidy eligibility. This move is part of a broader effort to transition from a blanket subsidy to a more targeted approach. Finance Minister II, Datuk Seri Amir Hamzah Azizan, confirmed that the system is in its final stages of development and is expected to be officially implemented in the second half of the year.
&ldquo;As I have answered multiple times in the Dewan Rakyat and Dewan Negara, the mechanism is still being refined,&rdquo; Amir Hamzah stated. &ldquo;We do not want to pre-announce something while we are still working on it because the most important thing is to ensure that the system is robust.&rdquo;
Two-Tier Pricing: Who Will Benefit?
<img src="https://r2.myc.my/2ef13ff290b995921d098b660382dc30ea5b578c0e0a6786974d287738fb8ab5" />
Under this new system, fuel prices will be divided into subsidised and non-subsidised rates. It is estimated that more than 85% of the Malaysian population will benefit from the subsidised rate, while higher-income groups&mdash;particularly those with a household income of RM12,000 and above&mdash;will be required to pay the market price.
The MyKad system will serve as the verification tool at petrol stations, ensuring that only eligible individuals receive the fuel subsidy. This approach aims to curb misuse and ensure subsidies reach those who genuinely need them, aligning with the government's broader economic reform efforts.
MyKad System Modelled After SARA Programme 
&nbsp;<img src="https://r2.myc.my/c91eef11030dbc3e3eb30a9ebe7c7963803869dc8eb2a7766796f2c26d76d00d" />
The idea of using MyKad as a tool for fuel subsidies was inspired by the existing Sumbangan Asas Rahmah (SARA) programme, which enables low-income recipients to purchase essential goods using their national identification card. Currently, the SARA system supports 700,000 recipients at over 3,500 participating retail stores and supermarkets. This number is set to increase significantly to 5.4 million recipients by April 2025.
&ldquo;If we can use MyKad for 5.4 million recipients with 3,500 stores, it&rsquo;s not that different and we could also use the same system for RON95,&rdquo; said Amir Hamzah, stressing that the system has already demonstrated its effectiveness.
Government&rsquo;s Plan to Save RM8 Billion Annually 
&nbsp;<img src="https://r2.myc.my/3fe646150abd1e0655e12fd1d8d263b882cc430db1979ec4e578203b5104dd62" />
Prime Minister Datuk Seri Anwar Ibrahim previously announced the transition to a targeted subsidy model during the Budget 2025 presentation. The restructuring of the RON95 subsidy is expected to generate substantial savings for the government.
Currently, Malaysia spends approximately RM20 billion per year to keep RON95 fuel prices capped at RM2.05 per litre. By shifting to a targeted subsidy, the government anticipates reducing this expenditure by RM8 billion annually, freeing up funds for other critical sectors such as education, healthcare, and infrastructure development.
Implementation Timeline and Public Response
Although the government has provided a broad outline of the new subsidy mechanism, official implementation details are still being finalised. Amir Hamzah reassured the public that the system would only be introduced once it has been fully tested and optimised for efficiency.
The transition to a targeted fuel subsidy marks a significant shift in Malaysia&rsquo;s economic policies, aiming to strike a balance between financial sustainability and public welfare. More details regarding the operational framework and rollout timeline of the MyKad-based fuel subsidy system are expected in the coming months.
Malaysians are encouraged to stay informed as the government prepares to release further updates on the implementation of this groundbreaking subsidy mechanism.
What are your thoughts on this? Let us know in the comments. 
&nbsp;
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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Unfortunately, this means fuel prices will vary based on subsidy eligibility.

1e96c386692d914f9d75979a5d5cfa058dd88c6e19e90f03208676e317a13664

We'll Soon Be Using Our MyKad For A Two-Tier Targeted RON95 Subsidy System

Malaysia&rsquo;s mixed doubles badminton duo, Chen Tang Jie and Toh Ee Wei, are officially parting ways following a decision by the Badminton Association of Malaysia (BAM). Acting president Datuk V. Subramaniam confirmed that the split was made after a thorough evaluation and recommendations from the coaching panel.
<img src="https://r2.myc.my/4dd6cb4aa219b296f8dcfafd7aefe810da497bcde5c327f36c0cf59cfa4274d4" />
&ldquo;After much deliberation, the coaching panel has given its recommendation,&rdquo; Subramaniam stated on 28 March. He added that the decision was based on reports and final recommendations from mixed doubles coach Nova Widianto and doubles coaching director Rexy Mainaky.
&ldquo;We have received the report and final recommendation from the coaches,&rdquo; he reiterated. &ldquo;The pair will be split for upcoming tournaments, and we have also agreed to give the coaches some time to experiment with potential new pairings.&rdquo;
<blockquote class="twitter-tweet">
ℹ️ Update on Tang Jie &amp; Ee Wei Partnership Following the decision taken at the recent Performance Committee meeting, and as then informed by Datuk V Subramaniam, Acting President and Chairman of the Performance Committee, the status of Chen Tang Jie and Toh Ee Wei&rsquo;s partnership&hellip;
&mdash; BAM (@BA_Malaysia) <a href="https://twitter.com/BA_Malaysia/status/1905440683672080671?ref_src=twsrc%5Etfw">March 28, 2025</a></blockquote>

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No Participation in the Sudirman Cup
<img src="https://r2.myc.my/529217298f9030578795292b24cc03f96963ce0b97f8650b6388877c51c7c961" />
As a result of this decision, Chen and Toh will not be competing together at the upcoming Sudirman Cup in China next month. BAM has yet to announce their new partners or outline their future plans in the mixed doubles category.
Tensions Lead to Separation
<img src="https://r2.myc.my/65885c58b4247758cb4fda562c14013ac97b2b94e110bea8647309d2e17d5d99" />
Read: <a href="https://next.myc.my/articles/3677/tang-jie-and-ee-weis-olympic-journey-ends-with-injury-setback-against-korean-opponents">Tang Jie &amp; Ee Wei's Olympic Journey Ends With Injury Setback Against Korean Opponents</a>
The decision to split the world-ranked No. 4 pair follows a period of tension between the two players. Reports indicate that BAM had already provided a cooling-off period for the duo in an attempt to mend their deteriorating partnership. The strain in their relationship is believed to have begun during the Paris 2024 Olympics, where they were eliminated in the quarter-finals by South Korea&rsquo;s Kim Won Ho and Jeong Na Eun in straight sets (19-21, 14-21).
Further signs of discord emerged when the pair withdrew from the Badminton Asia Championships (BAC) in Ningbo, China, scheduled for 8-13 April. Additionally, Ee Wei recently removed all photos of herself with Tang Jie from her Instagram account following their early exit in the first round of the All England Open 2025.
A Promising Partnership Comes to an End
Since their pairing in late 2022, Chen Tang Jie and Toh Ee Wei had achieved commendable success, securing three BWF World Tour titles: the 2023 Orleans Masters, the 2023 Taiwan Open, and the 2024 Korea Open. Despite their achievements, the lack of synergy on the court ultimately led BAM to make the difficult decision to separate them.
Future Plans and New Pairings
BAM has confirmed that the coaching team will be given time to test different mixed doubles combinations before making any official announcements regarding new pairings. As Malaysian badminton navigates this transition, the hope remains that both Chen and Toh will find success with new partners on the international stage.
With the Sudirman Cup fast approaching, all eyes will be on BAM&rsquo;s next move as they prepare their roster for the prestigious team tournament.
It was good while it lasted, thank you for everything Chen and Toh! For now, all we can do is sit back and watch for the next announcement of the mixed doubles pairings.
What are your thoughts on this? Let us know in the comments. 
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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It seems like the strain between the parentship has finally taken it’s blow. 

9c41ae22b3211d42481d85ecb626e82e18dda1cc55018b4c3a41e04490e0faeb

BAM Officially Confirms Chen Tang Jie & Toh Ee Wei’s Split As Malaysia’s Mixed Doubles Pair

Malaysia Airports Holdings Berhad (MAHB) recently became the target of a significant cyberattack, with hackers attempting to infiltrate its digital infrastructure and demanding a ransom of US$10 million (~RM44.4 million). Prime Minister Datuk Seri Anwar Ibrahim disclosed the attack during the 218th Police Day celebration on 25 March, firmly rejecting the demand and stressing the importance of national security.
<iframe style="border: none; overflow: hidden;" src="https://www.facebook.com/plugins/video.php?height=476&amp;href=https%3A%2F%2Fwww.facebook.com%2Fsinarharian%2Fvideos%2F529927053482707%2F&amp;show_text=false&amp;width=267&amp;t=0" width="267" height="476" frameborder="0" scrolling="no" allowfullscreen="allowfullscreen"></iframe>
"We discussed cyberattacks and hacking, which have been quite severe against MAHB in the past day or two. There were discussions about how to resolve it, including demands from hackers for millions of dollars. I was informed, and thankfully, since it&rsquo;s Ramadan, I didn&rsquo;t even wait five seconds&mdash;I immediately answered no," Anwar stated.
He emphasised that conceding to such demands would compromise Malaysia&rsquo;s security and expose the nation to further cyber threats from both local and international criminals.
Disruptions at Malaysia&rsquo;s Major Airports
<img src="https://r2.myc.my/d505ed078726350bb9808447f9b385b5b3e4dce0b928482fbf57a48aad9bd0e5" />
Although the government has not disclosed the full extent of the breach, reports suggest that the cyberattack disrupted multiple key airport operations. Former Wangsa Maju MP Wee Choo Keong claimed in a social media post that Kuala Lumpur International Airport (KLIA) and KLIA2 faced technical disruptions, with flight details being manually updated on whiteboards, while check-in counters and baggage handling systems were also affected. However, these claims were contested by other social media users who shared images showing operational flight information display systems, casting doubt on the severity of the disruption.
<blockquote class="twitter-tweet">
KLIA Systems Down - What An International Embarrassment? Why <a href="https://twitter.com/MY_Airports?ref_src=twsrc%5Etfw">@MY_Airports</a> <a href="https://twitter.com/MOTMalaysia?ref_src=twsrc%5Etfw">@MOTMalaysia</a> <a href="https://twitter.com/anthonyloke?ref_src=twsrc%5Etfw">@anthonyloke</a> <a href="https://twitter.com/Khazanah?ref_src=twsrc%5Etfw">@Khazanah</a> Are Keeping Their Elegant Silence? or All Are Clueless including MAHB's New Partner GIP? At 3 am on 23.3.2025 Kuala Lumpur International Airport (KLIA) systems were all&hellip; <a href="https://t.co/K8jabIY8Tl">pic.twitter.com/K8jabIY8Tl</a>
&mdash; Wee Choo Keong (@weechookeong) <a href="https://twitter.com/weechookeong/status/1904095239473893464?ref_src=twsrc%5Etfw">March 24, 2025</a></blockquote>

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Strengthening Cybersecurity Measures
<img src="https://r2.myc.my/6992acb0ad33654392d1762d8e9f2a080bd64d4f4114de189ecaa32208593387" />
Anwar underlined the importance of investing in Malaysia&rsquo;s cybersecurity infrastructure to prevent similar incidents in the future. He stressed that technological advancements and increased funding for critical institutions, including the police force and Bank Negara Malaysia (BNM), are essential in fortifying national security against cyber threats.
"Yes, there are risks, and we must face them with courage and strength. This also requires technological sophistication, as well as additional funding for the police, Bank Negara, and all relevant agencies to enhance our preparedness," he explained.
A Growing Threat to National Security
<img src="https://r2.myc.my/d75ba59ffc0d05ad66b4d3c6d2a140bc4fafb43acacc3483584c952ab2dd770c" />
The attack on MAHB is a stark reminder of the vulnerabilities in Malaysia&rsquo;s digital infrastructure. Cyberattacks targeting critical sectors, such as transportation and financial institutions, are becoming increasingly common, and the need for stronger cybersecurity defences has never been more urgent.
The Malaysian government&rsquo;s firm rejection of the ransom demand signals a no-tolerance stance against cybercriminals. However, this incident highlights the necessity of a more proactive approach to cybersecurity. Experts warn that without continuous improvements in digital security measures, Malaysia risks becoming an attractive target for future cyber threats.
A Call for Stronger Cyber Defences
As the nation moves forward, it is imperative for the government, private sector, and cybersecurity experts to collaborate in strengthening digital defences. Increased investment in cybersecurity technology, regular security audits, and enhanced staff training across critical infrastructure sectors are essential steps toward mitigating risks.
While the government continues to assess and respond to the MAHB cyberattack, the incident serves as a wake-up call for all stakeholders. Ensuring robust cybersecurity measures will not only protect national assets but also maintain public confidence in Malaysia&rsquo;s ability to safeguard its critical infrastructure against future threats.
For now, the government has reassured the public that it is working closely with relevant agencies to resolve the issue and bolster the country&rsquo;s cybersecurity framework. The attack may have been a warning, but it also presents an opportunity for Malaysia to reinforce its commitment to digital resilience and security.
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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A wake-up call for stronger cybersecurity measures.

65b2e046dc2670d35e94bd7a7c55ee71dde65d17d0b94f9f8a9ff536519fc620

Malaysia Airports Hit By Cyberattack: Government Rejects RM44.4 Million Ransom Demand

The Malaysian International Food and Beverage Trade Fair (MIFB) 2025 is making its highly anticipated return from 30 July to 1 August 2025 at the Kuala Lumpur Convention Centre. Recognised as Malaysia&rsquo;s leading F&amp;B trade event, MIFB serves as a vital hub for SMEs, startups, and innovators to showcase groundbreaking products, cutting-edge technology, and the latest trends shaping the ASEAN food and beverage market.
With over 500 exhibitors from more than 50 countries and an expected attendance of 12,000 visitors, MIFB presents an exceptional opportunity for businesses to forge meaningful connections with buyers, distributors, and investors. As an innovation-driven event, MIFB continues to spotlight disruptive brands, emerging technologies, and future-ready solutions, cementing its status as an essential destination for industry professionals.
Spotlight on Industry Innovations
&nbsp;<img src="https://r2.myc.my/f8faa40f6355e5bc6ae38e93d7258df68d6f203a8a1ce287d8de05853dd387e6" />
Beyond fostering networking and business growth, MIFB 2025 will serve as a stage for key developments shaping the global F&amp;B landscape. The event will provide deep insights into crucial industry advancements, covering the entire supply chain from raw ingredient sourcing to high-tech packaging and efficient distribution solutions.
This year, a major focus will be placed on transformative trends, including the rising consumer demand for Ready-To-Eat (RTE) and Ready-To-Cook (RTC) solutions. Additionally, AI-driven food manufacturing, smart packaging, and sustainable solutions are set to take centre stage, demonstrating how technology is reshaping the way we produce, package, and distribute food.
Exciting Highlights at MIFB 2025 To add further value for attendees, MIFB 2025 will feature several key segments that will enrich the experience for exhibitors and visitors alike:
<ul>
<li>Malaysia Caf&eacute; Expo (MCE): A Celebration of Caf&eacute; Culture For the first time, the Malaysia Caf&eacute; Expo (MCE) will be held in collaboration with MIFB, offering a dedicated space for caf&eacute; industry professionals. This segment reflects the rapid rise of Malaysia&rsquo;s caf&eacute; culture, driven by growing consumer interest in specialty coffee, premium caf&eacute; experiences, and innovative caf&eacute; technologies.</li>
</ul>
MCE will also host the prestigious Malaysia National Coffee Championship (MNCC), Malaysia&rsquo;s leading coffee competition under the Malaysia Specialty Coffee Association (MSCA). The MNCC serves as the national qualifier for the World Barista Championship, providing caf&eacute; professionals with a launchpad to compete on the global stage.
<ul>
<li>MyFoodTech: Showcasing the Future of Food Technology As technology continues to play a crucial role in the food industry, MyFoodTech will act as a specialised platform for food tech professionals and businesses. This segment will explore advancements such as AI-driven supply chain optimisation, automation in food manufacturing, and sustainable food production methods, giving businesses an opportunity to stay ahead of industry changes.</li>
<li>Future Chefs Table: Culinary Excellence in Action Organised in collaboration with the Professional Culinaire Association, the Future Chefs Table will feature live cooking demonstrations with a unique twist&mdash;chefs will create dishes exclusively using ingredients sourced from exhibitors. This immersive experience will highlight industry trends, including the use of premium ingredients, evolving food pairings, modernised Malaysian snacks, and the growing demand for functional foods.</li>
</ul>
Driving Growth and Industry Collaboration
&nbsp;<img src="https://r2.myc.my/e4a5368b7f9d527989218134dfd8d9d3a0418041b9e5fc8f71b871c41c0d0d91" />
Paul Lee, Chief Executive (Markets) at Constellar, highlighted MIFB&rsquo;s role as a catalyst for growth and collaboration within the F&amp;B sector:
&ldquo;As MIFB continues to lead in fostering industry growth and collaboration, we envision our event as the pivotal meeting point for businesses navigating the dynamic F&amp;B landscape. It&rsquo;s an opportunity to gain valuable insights into emerging trends, build meaningful connections, and explore new avenues for growth. Whether discovering the latest innovations or forging strategic partnerships, the event will bring industry players together to exchange ideas and drive the future of food and beverage.&rdquo;
Why MIFB 2025 Matters
MIFB is not just an exhibition; it is a gateway to the thriving ASEAN F&amp;B market, which is projected to reach RM310.9 billion by 2027. For exhibitors and attendees, the event provides a unique opportunity to position their brands at the forefront of industry advancements, gain valuable exposure to new trends, and engage directly with key stakeholders.
By facilitating connections with retailers, buyers, and investors, MIFB 2025 presents a powerful platform for businesses aiming to expand their reach and establish themselves in the competitive food and beverage industry.
For those eager to be part of this transformative event, visit <a href="https://mifb.com.my/">MIFB&rsquo;s website</a> for more information. If you&rsquo;re interested in participating or exhibiting, register at <a href="https://mifb.com.my/contact-us/">MIFB&rsquo;s contact page</a>.
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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Looking for a platform to showcase innovation and drive growth? MIFB 2025 is where the future of F&B begins!

437b2f4bb893e2604989a6ac119798a5cbf55540b1de3b4f2543f46ef8f8720b

Malaysia’s Leading F&B Trade Event Returns: MIFB 2025 To Drive Industry Innovation

Passengers aboard Malaysia Airlines flight MH4 from Kuala Lumpur to London experienced an unexpected and frustrating ordeal when their journey was abruptly cut short. The Airbus A350-941 had already completed more than half of its 10,611-kilometre route when news broke that a fire at an off-site electrical substation had plunged London Heathrow Airport into chaos. The aircraft was forced to turn around and return to Kuala Lumpur International Airport (KLIA), leaving passengers bewildered by their "journey to nowhere."
TikTok user @sarahmaytravel documented the experience, expressing disbelief at being halfway across the globe only to be told that they had to return home. The flight had been airborne for approximately seven hours before the crew received the news, resulting in a total flight time of around 13 hours and 30 minutes.
<blockquote class="tiktok-embed" style="max-width: 605px; min-width: 325px;" cite="https://www.tiktok.com/@sarahmaytravel/video/7484175577931369750" data-video-id="7484175577931369750">
<section><a title="@sarahmaytravel" href="https://www.tiktok.com/@sarahmaytravel?refer=embed" target="_blank" rel="noopener">@sarahmaytravel</a> @Heathrow Airport what&rsquo;s going on?????? <a title="heathrow" href="https://www.tiktok.com/tag/heathrow?refer=embed" target="_blank" rel="noopener">#heathrow</a> <a title="heathrowairport" href="https://www.tiktok.com/tag/heathrowairport?refer=embed" target="_blank" rel="noopener">#heathrowairport</a> <a title="heathrowfire" href="https://www.tiktok.com/tag/heathrowfire?refer=embed" target="_blank" rel="noopener">#heathrowfire</a> <a title="♬ Oh No - Kreepa" href="https://www.tiktok.com/music/Oh-No-6586947002464996102?refer=embed" target="_blank" rel="noopener">♬ Oh No - Kreepa</a></section>
</blockquote>

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Heathrow Resumes Operations After Shutdown
<img src="https://r2.myc.my/31a4e2f3a0eaee2f08a38b3642c46441a1325c7c68233de4d22b489c9c595807" />
Heathrow Airport, one of the world&rsquo;s busiest air transport hubs, was forced to close for nearly 18 hours following the fire at a high-voltage substation in Hayes. The incident, which occurred on Thursday night, caused major disruption, grounding more than 1,350 flights and impacting hundreds of thousands of travellers worldwide.
By Saturday morning, Heathrow had resumed full operations, though delays and cancellations persisted as airlines worked to recover. British Airways, which has its main hub at Heathrow, estimated that it would operate around 85% of its scheduled flights throughout the day, while other airlines such as Virgin Atlantic and Air India attempted to return to normal operations.
In an effort to manage the backlog, the UK&rsquo;s transport department temporarily lifted restrictions on overnight flights. Heathrow also deployed hundreds of additional staff to assist passengers and added flights to accommodate an extra 10,000 travellers.
Malaysia Airlines&rsquo; Response and Passenger Experience 
<img src="https://r2.myc.my/75dd04bd8eb291c4abd9c1e9a28d3e1a7b4075502cadf8b06ac1545dc8113324" />
Malaysia Airlines promptly arranged alternative flights for affected passengers, ensuring that those who had been forced to turn back were rebooked on the next available departures to London. The airline provided at least one night&rsquo;s accommodation for passengers at airport hotels and maintained direct communication regarding flight changes.
Despite the disruption, many passengers acknowledged the airline&rsquo;s efforts to manage the situation efficiently. While frustration was inevitable, passengers appreciated the clear communication and logistical support provided by the airline. As normal operations resumed, Malaysia Airlines issued a statement reassuring customers that flights MH4 (Kuala Lumpur to London Heathrow) and MH1 (London Heathrow to Kuala Lumpur) had returned to their regular schedules.
Investigations and Criticism of Heathrow&rsquo;s Infrastructure 
<img src="https://r2.myc.my/0f858643bc9cc63b788a37b34199fe133503468fe4951febbe572315d8013b56" />
The scale of the disruption raised serious concerns about the resilience of one of the UK&rsquo;s most critical pieces of travel infrastructure. The power outage, caused by a transformer fire that consumed 25,000 litres of cooling oil, led to the loss of both the main and backup power supplies for the airport. Though two remaining grid supply points were able to restore power, the complex process of redistributing electricity and resetting systems took almost an entire day.
In response, the UK government launched an urgent investigation into the incident, with Energy Secretary Ed Miliband commissioning the National Energy System Operator (Neso) to conduct an independent probe. The findings, expected within six weeks, aim to identify vulnerabilities in Heathrow&rsquo;s power infrastructure and recommend measures to prevent future failures.
Critics have been vocal in their condemnation of the situation, with industry experts and officials calling the incident an embarrassment for Britain. Willie Walsh, former British Airways chief and head of the International Air Transport Association (IATA), labelled it a "clear planning failure," while Jason Bona of PS Forwarding remarked that Heathrow had become a "laughing stock" within the global freight community.
Labour peer Toby Harris, chair of the National Preparedness Commission, stressed that the outage highlighted significant flaws in the airport&rsquo;s contingency planning. In response, Heathrow&rsquo;s Chief Executive Thomas Woldbye pledged full cooperation with the investigation and affirmed the airport&rsquo;s commitment to strengthening its resilience.
Lessons for the Future
This incident serves as a stark reminder of the vulnerabilities in the infrastructure of major international airports. While Heathrow has faced disruptions in the past&mdash;including an air traffic system meltdown and an automated gate failure in 2023&mdash;the scale of this power outage underscores the need for more robust contingency planning.
As authorities and industry leaders work to learn from the disruption, passengers and airlines alike hope that future incidents of this nature can be prevented. For now, the aviation industry faces the financial and logistical fallout of an event that not only inconvenienced travellers but also dented the reputation of one of the world&rsquo;s busiest airports.
What do you think of this? Let us know in the comments. 
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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A literal seven-hour journey to nowhere—pilots had no choice but to turn back.

69cd12742d6979a13582d880c02fef21a2cd600460ab5c4b98fe9959dc5d2d86

Malaysia Airlines Flight MH4 Forced To U-Turn Home Due To Heathrow Power Outage

In February, Malaysians were abuzz after the government disclosed that cabinet ministers had undertaken a total of 236 official overseas trips in 2024, costing the country RM44 million.
<img src="https://r2.myc.my/d1bbf8b6bc4247ae64db869adc0651f01f0de56ddb7681cbe58ba21fae067d25" />
Read: <a href="https://myc.my/articles/4137/msian-govt-reveals-ministers-took-236-overseas-trips-costing-rm44-million">M&rsquo;sian Govt Reveals Ministers Took 236 Overseas Trips, Costing RM44 Million</a>
In a written parliamentary reply to Masjid Tanah MP Datuk Mas Ermieyati Samsudin on 18 February, Federal Territories Minister Dr Zaliha Mustafa justified the expenditure, stating that these trips were essential as ministers attended scheduled meetings in line with Malaysia&rsquo;s commitments to various international organisations.
Following the revelation, many netizens voiced their concerns, with some criticising the hefty RM44 million price tag amid the nation&rsquo;s economic challenges. The disclosure sparked a debate on whether the government was managing public funds responsibly.
<img src="https://r2.myc.my/75ea5e89a3713dc419ed0b3568bb1ab1c02847d3e341bcb63479e746464b6fdc" />
Prime Minister Datuk Seri Anwar Ibrahim has recently clarified that all Members of Parliament (MPs) in Malaysia receive a fixed monthly allowance of RM25,700. In addition to this base salary, MPs are entitled to various other allowances and claims based on their parliamentary roles and responsibilities.
According to a statement from the Prime Minister&rsquo;s Office, MPs can claim allowances for domestic official duties, which include an attendance allowance of RM400 per day during parliamentary sessions. MPs who participate in the Public Accounts Committee (PAC) or Special Select Committee meetings outside of parliamentary sessions are eligible for an additional RM300 per day. During parliamentary sessions, PAC members receive RM250 per day. Furthermore, MPs attending official briefings receive an additional RM300 daily, while a subsistence allowance of RM100 per day is granted for official duties that require travel beyond 32 kilometres.
Travel and Overseas Duty Allowances
&nbsp;<img src="https://r2.myc.my/86d0a2c0168b1bc0398294dc0a3aca188652b95d1a5eec6ca647d06b9b1756e2" />
MPs are also entitled to travel reimbursements for self-driving, public transport, or air travel. These reimbursements extend to accommodation expenses such as hotel stays, lodging, and laundry.
For international assignments, MPs receive a meal allowance of RM340 per night and a daily subsistence allowance of RM170. Additionally, they can claim accommodation and transport expenses, which include air and land travel. They are also eligible for compensation for currency exchange losses and a tip allowance amounting to 25% of their meal allowance.
Potential Monthly Earnings Between RM30,000 and RM40,000 
&nbsp;<img src="https://r2.myc.my/81f1149c17f31e9aba73329878a90237c1ce22c9e9abe6b75b2c7c94a6ef9945" />
When considering all these allowances and claims, some MPs may earn a total monthly income ranging between RM30,000 and RM40,000.
Anwar urged MPs to exercise financial prudence and remain mindful of the financial struggles faced by the general public, many of whom earn significantly less. He also criticised certain MPs for claiming that their income is inadequate, with some alleging that they need to take on debt to manage their daily expenses.
Public Concerns Over MP Salaries
<img src="https://r2.myc.my/dc4160fef6008145d4685a22820b89548e21c77a27eb6468d1d21719c2db0237" />
The disclosure of MPs&rsquo; allowances has sparked public debate, with many questioning whether such entitlements are justified, particularly when many Malaysians are struggling with rising costs of living. There have been growing calls for greater financial transparency regarding government spending on parliamentary allowances.
Opposition figures and activists have also raised concerns about the disparity between MP earnings and the average wages of regular citizens. Some critics argue that MPs should be held accountable for their expenditure and that their allowances should be tied to performance metrics or public service effectiveness.
Funding for Opposition MPs
The Prime Minister also addressed concerns regarding funding allocations for opposition MPs. He reiterated that the government remains open to discussions but questioned why opposition MPs continue to publicly complain instead of engaging in direct negotiations with the government on the matter.
Anwar&rsquo;s comments highlight the ongoing debate over parliamentary earnings and financial transparency. As public scrutiny over government spending intensifies, the issue of MPs&rsquo; allowances is likely to remain a contentious topic in Malaysia&rsquo;s political landscape.
What are your thoughts on this? Let us know in the comments.
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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MPs also receive allowances for overseas duties when required.

189f9a15f95c822c2e2088cf9757e6b2ed480a3fa83652eaaac7d0382b33b20c

Anwar Ibrahim Clarifies That Every MP Receives RM25,700 Monthly, Plus Additional Allowances

With the tax filing season underway, taxpayers in Malaysia are encouraged to file their taxes early and take advantage of eligible tax reliefs. As of 2024, the Inland Revenue Board (LHDN) has made e-Filing the sole method for submitting tax returns, discontinuing manual or hard copy submissions.
E-Filing, which has been in use for several years, is an efficient and convenient way to report tax liabilities. Individuals earning income from employment, as well as those receiving passive income such as rental earnings or interest, are required to file their personal income tax returns (Form BE) for the assessment year 2024. The tax filing period runs from 1 January to 31 December 2024, with submission deadlines of 30 April for salaried individuals and 30 June for business owners or self-employed individuals. Late submissions may incur penalties.
For first-time users, registration is required via the MyTax portal (<a href="https://mytax.hasil.gov.my">https://mytax.hasil.gov.my</a>) through the e-Daftar system. A digital certificate and a one-time PIN must also be obtained before logging into the system to complete the e-Filing process.
Full List of Tax Reliefs for 2024
To ease the financial burden of taxpayers, the Malaysian government has outlined several tax relief categories. Below is a breakdown of the key tax reliefs available for the year 2024.
1) Individual and Dependent Reliefs
 <img src="https://r2.myc.my/052ddfa86afca614c90dc6b106d464b9e46f71978e46b4424e1171e98b9fdab0" /> 
<ul>
<li>Self and dependents &ndash; RM9,000</li>
<li>Husband/Wife/Alimony to ex-wife &ndash; RM4,000</li>
<li>Individuals with disabilities &ndash; RM6,000</li>
<li>Disabled spouse &ndash; RM5,000</li>
<li>Self-study fees &ndash; RM7,000</li>
</ul>
2) Lifestyle and Medical Reliefs
<img src="https://r2.myc.my/986a66f3132725f7bcbead80966ac58cfd1014ebc7907ba407a75fea65611396" />
<ul>
<li>Medical expenses for self, spouse, and children &ndash; RM10,000 (includes fertility treatment)</li>
<li>Diagnosis and treatment for learning disabilities &ndash; RM4,000</li>
<li>COVID-19 self-test kit and full medical examination &ndash; RM1,000</li>
<li>Vaccination expenses &ndash; RM1,000</li>
<li>Dental examination and treatment by a registered dental practitioner &ndash; RM1,000</li>
<li>Breastfeeding equipment purchase &ndash; RM1,000</li>
<li>Basic support equipment for individuals, spouses, children, or dependents with disabilities &ndash; RM6,000</li>
<li>Lifestyle expenses (books, internet subscriptions, gadgets, etc.) &ndash; RM2,500</li>
<li>Sports-related lifestyle purchases &ndash; RM1,000</li>
<li>Medical treatment and parental care &ndash; RM8,000</li>
</ul>
3) Child Reliefs
<img src="https://r2.myc.my/e82d0478d846f20869cd32ba3fe2b85a470216b5d9eb70f6014368bf1d6b7f5b" />
<ul>
<li>Children under 18 years old &ndash; RM2,000</li>
<li>Children over 18 years, unmarried, and studying full-time &ndash; RM2,000</li>
<li>Children over 18 years old, unmarried, and studying in an institution of higher learning &ndash; RM8,000</li>
<li>Registered daycare or kindergarten fees &ndash; RM3,000</li>
<li>Children with disabilities &ndash; RM6,000</li>
<li>Additional relief for children with disabilities &ndash; RM8,000</li>
</ul>
4) Contributions, Donations, and Other Reliefs
&nbsp;<img src="https://r2.myc.my/5b4fe4c87659a2aa2076a1eb663e333df49c5cec4ac3c1d7e23a9c0a9c07fd17" />
<ul>
<li>SOCSO/Employment Insurance Scheme (EIS) contributions &ndash; RM350</li>
<li>Deferred retirement and annuity scheme &ndash; RM3,000</li>
<li>SSPN (National Education Savings Scheme) contributions &ndash; RM8,000</li>
<li>Life insurance and Employees Provident Fund (EPF) contributions &ndash; RM7,000</li>
<li>Education and medical insurance for individuals, spouses, and children &ndash; RM3,000</li>
<li>Electric vehicle (EV) charging equipment purchase, rental, or installation &ndash; RM2,500</li>
</ul>
Important Reminders for Taxpayers 
&nbsp;<img src="https://r2.myc.my/a0dab6af7b7cbfde545be30acfa7f64726c9d11264a0865f38063afd93d5308f" />
Taxpayers must exercise caution when filing their tax returns to avoid common mistakes and potential penalties. One of the most frequent errors is attempting to claim reliefs without the necessary documentation. It is essential to retain receipts and supporting evidence for at least seven years, as LHDN may conduct audits to verify claims. Incorrectly declaring dependents or failing to meet eligibility criteria for specific reliefs could also lead to penalties.
Additionally, all sources of income must be declared, including earnings from rental properties, freelance work, commissions, and passive income streams. Those receiving income from overseas are still required to report it, even if it qualifies for tax exemptions. The LHDN can monitor foreign income through the Common Reporting Standard, a global initiative to track international financial transactions.
Expatriates working in Malaysia are subject to taxation but are ineligible for personal reliefs and must pay based on the progressive tax rate. Those engaging in gig economy work or earning side income should also ensure they file their taxes correctly to avoid non-compliance issues.
Filing taxes early provides numerous benefits, such as allowing taxpayers to identify and correct potential errors, preventing last-minute stress, and ensuring proper financial planning. For individuals with complex financial situations or multiple income sources, consulting a tax professional can provide clarity and assistance in structuring tax returns effectively. Keeping detailed financial records and understanding available tax reliefs can significantly help in maximising claims and reducing overall tax liabilities.
Final Thoughts
With tax filing now being fully digital, taxpayers must familiarise themselves with the MyTax portal and ensure they submit their returns before the respective deadlines. Understanding available tax reliefs can help individuals maximise their claims and reduce their tax burdens. To avoid mistakes, always keep proper records, declare all sources of income, and seek expert advice when in doubt.
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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Can’t recall how taxes work? Here’s a refresher.

a00c60ca0fb213be2754fab9e393dca422ae04afd1e7724202bc162c46c0085e

Filing Your Taxes? Check Out This Guide On E-Filing & Tax Reliefs For 2024!

Singaporean personal finance expert and YouTuber Loo Cheng Chuan, widely known for his financial education initiative &lsquo;1M65&rsquo;, recently shared his thoughts on Malaysia&rsquo;s Employees Provident Fund (EPF) and how it compares to Singapore&rsquo;s Central Provident Fund (CPF). In a podcast episode of Do More &ndash; Take Charge of Your Life, Loo emphasised that EPF is a &ldquo;gold mine&rdquo; that many Malaysians fail to appreciate, highlighting its ability to generate significantly higher returns than Singapore&rsquo;s CPF.
While CPF is known for its stability, Loo argues that EPF provides a more lucrative wealth-building opportunity. He urged Malaysians to recognise the potential of EPF as a powerful financial tool that can set them up for a comfortable retirement.
EPF Outperforms CPF with Superior Returns
<img src="https://r2.myc.my/28dadc41cb00c327bc50c904986420b99fbfd2cb44a1f43ae572ad132422414a" />
One of Loo&rsquo;s key arguments in favour of EPF is its consistently high dividend rates. Over the past decade, EPF has delivered annual returns ranging from 5% to 6.7%, significantly outpacing CPF&rsquo;s returns. In comparison, Singapore&rsquo;s CPF Ordinary Account offers only 2.5% annually, while its Special and Medisave Accounts provide 4%&mdash;rates that Loo asserts barely keep up with inflation.
&ldquo;This is an insanely high return rate,&rdquo; Loo said, noting that many Singaporeans envy such returns. He explained that EPF&rsquo;s compounding effect allows retirement savings to multiply significantly over time, making it an unparalleled financial vehicle for Malaysians.
&ldquo;If you put one dollar into your EPF and let it compound for 20 to 30 years, you could easily see a return of four to five times the original amount,&rdquo; he elaborated.
Compounding Effect Makes Up for Lower Wages
A common argument against EPF is that Malaysians generally earn lower wages than Singaporeans. However, Loo argued that EPF&rsquo;s robust compounding rate makes up for the income disparity.
&ldquo;Let&rsquo;s assume EPF delivers an average return of 6.5%,&rdquo; he said. &ldquo;If you allow it to compound over 35 years, the return is nine times. If you invest SGD$100,000, it could grow into SGD$900,000 by the time you turn 65.&rdquo;
This level of compounding, he stressed, provides Malaysians with an incredible advantage in growing their retirement savings, despite the differences in income levels between the two nations.
EPF&rsquo;s Resilience Amid Economic Challenges
<img src="https://r2.myc.my/a5fe6dc929f40cefe0ac6c9ddc8d3cd590210087052ab3fd24558a7f10722354" />
Loo also addressed common concerns regarding the depreciation of the Malaysian ringgit and the country&rsquo;s political uncertainties. He reassured that EPF has demonstrated exceptional resilience through various financial and political crises over the years.
&ldquo;EPF has survived numerous challenges&mdash;the Asian Financial Crisis, the 1MDB scandal, and multiple changes in prime ministers&mdash;and yet, it continues to thrive,&rdquo; he pointed out.
He urged Malaysians to have faith in EPF&rsquo;s ability to endure and grow despite economic fluctuations, noting that its long-term track record speaks volumes about its reliability as a retirement savings fund.
Rethinking the Obsession with Property Investment
&nbsp;<img src="https://r2.myc.my/7ab3e2c688cdd6b85de3b1d68cd07786bb384e463f9eb387069febf1349759f4" />
Many Malaysians view property investment as the safest and most lucrative form of wealth accumulation. However, Loo cautioned against putting too much emphasis on real estate without considering the advantages of EPF&rsquo;s returns.
&ldquo;Malaysians are obsessed with property, but have you ever compared SGD$100,000 invested in EPF versus the same amount put into real estate over time?&rdquo; he asked. &ldquo;People underestimate the power of compounding.&rdquo;
He explained that while real estate can generate significant returns, it is also subject to market fluctuations, maintenance costs, and liquidity issues. EPF, on the other hand, provides consistent and secure growth with minimal effort.
Maximise EPF Savings for a Secure Future
<iframe src="https://www.youtube.com/embed/KlehKfN5Y6Y" width="560" height="314" allowfullscreen="allowfullscreen"></iframe>
Loo strongly encouraged Malaysians to take full advantage of EPF&rsquo;s high returns by maximising their contributions as early as possible. He also advised diversifying investments wherever feasible but stressed that EPF should remain a core component of any retirement plan.
&ldquo;This is the time to take advantage&mdash;put in as much as possible while you&rsquo;re young and let it compound without touching it,&rdquo; he advised.
He concluded by expressing admiration for Malaysia&rsquo;s EPF system, saying, &ldquo;People like us in Singapore envy such a system. EPF is one of the most incredible wealth-building machines in the world.&rdquo;
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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It seems that Malaysians are sitting on an overlooked financial treasure.

9508b6a9200770743319e36bff18ecd5d971d0069d73b19475c27982df6c9a48

Singaporean Financial Expert Hails EPF As A "Gold Mine" Compared To CPF

In a shocking revelation, the Malaysian Anti-Corruption Commission (MACC) has officially named former Prime Minister Datuk Seri Ismail Sabri Yaakob as a suspect in an extensive corruption and money laundering investigation. This high-profile case has stunned the nation, as authorities have seized assets valued at approximately RM170 million, including vast sums of cash in multiple foreign currencies, gold bars, luxury watches, and high-value jewellery.
During a press conference held on 3 March at the MACC headquarters in Putrajaya, Chief Commissioner Tan Sri Azam Baki presented the confiscated assets in a striking public display. Bundles of cash, gold bars, and other valuable items were laid out for the media, providing tangible evidence of the investigation&rsquo;s findings.
<img src="https://r2.myc.my/1cba63c0495e9b9410e2ac299d81356e04813a6ad4b23556029924b23d127164" />
"On the table, there are only RM14 million in Malaysian Ringgit; the rest consists of various foreign currencies," Azam stated. The seized cash included US Dollars, Euros, British Pounds, UAE Dirhams, Japanese Yen, Australian Dollars, Saudi Riyals, Thai Baht, Korean Won, and Chinese Yuan, among others.
Azam underscored the significance of the evidence, confirming that Ismail Sabri is a suspect in the case. "Firstly, he has been required to declare his assets under Section 36 of the MACC Act. Secondly, the money was discovered in connection with him, and we will require his statement to determine the source and intended use of these funds."
Cash, Gold Bars, and Luxury Goods Discovered in Safe House
&nbsp;<img src="https://r2.myc.my/724a6b0ae97bb691199aaab304bc72844a00364c850f10757f392a21b619c138" />
Authorities uncovered the massive hoard of cash and gold bars concealed in three safes within a high-end condominium allegedly used as a &lsquo;safe house&rsquo; by individuals linked to the former Prime Minister. The apartment, believed to have been rented and managed by one of the suspects, housed 16 kilograms of pure gold bars estimated to be worth nearly RM7 million.
The MACC confirmed that although raids were conducted at multiple locations, the bulk of the confiscated funds and valuables were found in this single residence. Luxury watches and jewellery were also seized, though their total value is still being assessed.
The seizures followed the arrests of four individuals on 21 February, including two individuals bearing the title &lsquo;Datuk,&rsquo; believed to have been close aides to Ismail Sabri. These individuals allegedly played a significant role in handling financial transactions linked to the corruption probe.
Expanding Investigation and Frozen Bank Accounts
<img src="https://r2.myc.my/7ba67b2e8292fb20ef7daa65fc125012e59e51a1eb9dadc22621bea0d2050caf" />
As part of the ongoing investigation, the MACC has frozen 13 bank accounts holding approximately RM2 million to trace the movement of illicit funds. The commission is also closely examining financial transactions associated with Yayasan Keluarga Malaysia, a foundation established under Ismail Sabri&rsquo;s administration, which is under scrutiny for possible financial mismanagement.
The former Prime Minister has already been questioned by MACC investigators for five hours and is expected to be summoned again as new evidence emerges. Meanwhile, Azam Baki refuted reports that Datuk Nazimah Hashim, Ismail Sabri&rsquo;s former private secretary, had fled overseas, confirming that she had already provided a statement to investigators.
MACC assured the public that the investigation is being conducted independently and professionally, reinforcing its commitment to eradicating corruption at all levels. "We remain resolute in ensuring that any misconduct related to corruption and money laundering is thoroughly addressed in the interest of national integrity," the commission stated.
Public Outrage and Political Fallout
News of the corruption probe has triggered widespread outrage on social media, with many Malaysians condemning the staggering scale of the alleged embezzlement. Ismail Sabri, Malaysia&rsquo;s ninth and shortest-serving prime minister, is now facing increasing scrutiny, with critics demanding greater accountability and transparency in the nation&rsquo;s anti-corruption efforts.
Here&rsquo;s some of the comments:
<blockquote class="twitter-tweet" data-conversation="none">
It's incredible how someone can accumulate such a large sum of money in such a brief time as..
&mdash; Goh Kim Hock (@gohkimhock) <a href="https://twitter.com/gohkimhock/status/1896149586567401971?ref_src=twsrc%5Etfw">March 2, 2025</a></blockquote>

<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<blockquote class="twitter-tweet" data-conversation="none">
Assuming 2 year's tenure, these aides were accumulating, on average, RM7.083 million per month or RM236,000 per day in cash!
&mdash; CFLIM (@chiafook2013) <a href="https://twitter.com/chiafook2013/status/1896189827001069835?ref_src=twsrc%5Etfw">March 2, 2025</a></blockquote>

<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<blockquote class="twitter-tweet" data-conversation="none">
Ni klu bg rakyat msia sorang RM1 juta masih ada balance lagi RM137 juta betapa banyaknya amount RM170 juta tu
&mdash; Megatron&rsquo;S (@wuzgut01) <a href="https://twitter.com/wuzgut01/status/1896467710130983030?ref_src=twsrc%5Etfw">March 3, 2025</a></blockquote>

<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<blockquote class="twitter-tweet" data-conversation="none">
What a luxury to be an elite in Malaysia. Don&rsquo;t need to overnight in lockup. On Wednesday, he&rsquo;ll be escorted in luxurious cars and can still wave to the media like a celebrity.
&mdash; mil1985 (@mil19851) <a href="https://twitter.com/mil19851/status/1896466283748831411?ref_src=twsrc%5Etfw">March 3, 2025</a></blockquote>

<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<blockquote class="twitter-tweet" data-conversation="none">
Teringat ada terbaca satu quote "kekayaan suatu negara cukup untuk semua rakyat, tapi takkan cukup untuk seorang pemimpin". Yg 15 bulan pun banyak camni dah. Kalau yg 22tahun + 22bulan tu tktau la camne
&mdash; Jemi 🇲🇾🍉 (@AzmiShafiq_) <a href="https://twitter.com/AzmiShafiq_/status/1896435838000705585?ref_src=twsrc%5Etfw">March 3, 2025</a></blockquote>

<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

As the case unfolds, the MACC has identified nearly 10 more witnesses who are expected to be called in for questioning in the coming weeks. The scandal continues to dominate public discourse, with far-reaching political ramifications, as authorities work to uncover the full extent of this high-profile corruption case.
What are your thoughts on this? Let us know in the comments. 
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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Massive asset seizures unveiled at MACC headquarters. 

ea0f824df19ebed2d0a567e11168cd4a0c061aa638e2d23ec22d104e83c3ed97

Former PM Ismail Sabri Named As Suspect In RM170 Million Ringgit Corruption Scandal

The Employees Provident Fund (EPF) has declared a dividend rate of 6.3% for both conventional and Syariah savings accounts for the financial year 2024. This marks a notable increase from the 5.5% for conventional savings and 5.4% for Syariah savings announced in 2023. The total dividend payout for 2024 amounts to RM73.24 billion, reflecting a continued upward trend in returns for EPF contributors.
This is the highest dividend payout since 2018 and exceeds market expectations, which had projected a range between 5.8% and 6.2% for conventional savings and 5.4% to 5.6% for Syariah savings. The increase is attributed to strong investment performance, recovering global and domestic markets, and sound portfolio management. Notably, the dividends for 2024 surpass those from 2022, where the rates stood at 5.35% for conventional savings and 4.7% for Syariah savings, showcasing a steady recovery over the years.
EPF&rsquo;s Investment Success
<blockquote class="twitter-tweet">
KWSP mengumumkan kadar dividen sebanyak 6.30% bagi Simpanan Konvensional, dengan jumlah agihan sebanyak RM63.05 bilion dan 6.30% bagi Simpanan Shariah, dengan jumlah agihan sebanyak RM10.19 bilion. Ini menjadikan jumlah keseluruhan agihan untuk tahun 2024 sebanyak RM73.24 bilion. <a href="https://t.co/aw1siaQRJ9">pic.twitter.com/aw1siaQRJ9</a>
&mdash; KWSPMalaysia (@KWSPMalaysia) <a href="https://twitter.com/KWSPMalaysia/status/1895687163603534262?ref_src=twsrc%5Etfw">March 1, 2025</a></blockquote>

<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

For the year 2024, EPF reported a total investment income of RM74.46 billion, an 11% increase from RM66.99 billion in 2023. The fund&rsquo;s total investment assets also grew by 10%, reaching RM1.25 trillion, up from RM1.14 trillion the previous year. This growth was driven by portfolio income and net contributions, which rose 11% year-on-year, amounting to RM108.22 billion, compared to RM97.56 billion in 2023.
A breakdown of the total payout for 2024 reveals that RM63.05 billion was allocated to conventional savings account holders, while RM10.19 billion was distributed to Syariah savings account holders. This compares favourably with the previous year&rsquo;s distribution of RM50.33 billion for conventional savings and RM7.48 billion for Syariah savings, highlighting a substantial improvement in fund performance.
Investment Distribution and Performance
<img src="https://r2.myc.my/9c8f71eca8b731cccf23133f3e62e6b9deeb1e7ed627ac4e7fe52fbd72340c61" />
The EPF&rsquo;s investments span various asset classes, with the equity segment accounting for 43.5% of total assets under management (AUM) and contributing RM49.79 billion or 66.9% of total investment income. Other key asset classes include:
<ul>
<li>Fixed income (46.2% of AUM) &ndash; RM21.91 billion (29.4% of total income)</li>
<li>Real estate and infrastructure (6.3% of AUM) &ndash; RM1.64 billion (2.2% of total income)</li>
<li>Money market (4% of AUM) &ndash; RM1.12 billion (1.5% of total income)</li>
</ul>
EPF&rsquo;s investment strategy has played a crucial role in its ability to deliver strong returns. By maintaining a diversified portfolio, the fund has been able to capitalise on market upswings while mitigating risks associated with economic fluctuations. The fund's emphasis on long-term growth and sustainability ensures that contributors benefit from consistent returns, reinforcing confidence in Malaysia&rsquo;s largest retirement savings institution.
Economic Factors Supporting Growth
<img src="https://r2.myc.my/23416117c051d1c4b71f3ae3a346c9ae9a77b59a09465b2775cba58fca0e3727" />
EPF Chairman Tan Sri Mohd Zuki Ali highlighted that the strong dividend performance was driven by various economic factors, including a recovering global and domestic economy, resilient investment strategies, and stable inflation. Malaysia&rsquo;s economy expanded by 5.1% in 2024, playing a crucial role in boosting EPF&rsquo;s returns.
&ldquo;Domestically, strong investments, a healthy labour market, and stable inflation boosted demand, while exports benefited from global stability and the technology upcycle,&rdquo; he stated. He also noted that government initiatives under Budget 2024 and the Madani Economy framework have helped attract foreign investments, creating a favourable environment for economic growth. The continued emphasis on infrastructure development and digital transformation has also played a role in boosting economic resilience, further supporting EPF&rsquo;s investment strategies.
A Positive Outlook for EPF Members
EPF&rsquo;s diversified investment strategy has allowed it to capitalise on growth opportunities and optimise returns, reinforcing long-term financial security for its members. With a continued focus on sustainable investments and strategic asset allocation, EPF remains committed to delivering strong returns despite global economic uncertainties.
The increase in dividend rates for 2024 offers reassurance to its members, reaffirming EPF&rsquo;s role in ensuring financial stability for Malaysians as they plan for retirement. As the fund moves forward, its emphasis on strong governance, prudent investment management, and adaptability to market conditions will remain key drivers in sustaining positive growth.
Given the fund&rsquo;s consistent ability to deliver competitive returns, EPF members can look forward to continued financial security. The higher net contributions seen in 2024 suggest that more Malaysians are prioritising retirement savings, which will further strengthen the fund's position in the years ahead. Moving forward, EPF aims to enhance digital services, expand investment opportunities, and maintain a resilient portfolio, ensuring long-term sustainability and prosperity for its contributors.
What are your thoughts on this? Let us know in the comments. 
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*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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A significant increase in dividend payout. 