Nabil Luqman

0f9d2dd4f71434084e2b6094de1865e23abb37bb9f28ca51feeabee679ec9be2

Money

retirement

cash

savings

invesment

shariah compliant

principal

long term

For many Malaysians, having extra cash in our pockets is always a welcome opportunity. But beyond just saving, the idea of investing to grow our wealth is equally appealing and a smart financial move.&nbsp;
With most Malaysians retiring at 60, financial planning becomes crucial. Many wonder how long their savings, including EPF contributions, will last, as every ringgit matters when there&rsquo;s no steady income.
Touch &lsquo;n Go eWallet Introduces Principal PRS for Retirement Savings
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://r2.myc.my/78b60423dba2d2deb0abba7621b4bba94179d910ec54519fad2e38cf4ed801d4" />
Touch &lsquo;n Go eWallet (TNG eWallet), in collaboration with Principal Asset Management Berhad (Principal), has unveiled the Principal PRS (Private Retirement Schemes) to empower Malaysians in planning their retirement. This innovative addition allows users to begin saving for retirement with contributions starting from as little as RM100. Investors have the flexibility to choose between conventional or Shariah-compliant funds, tailored to their individual retirement goals and risk tolerance.
The Principal PRS Target Date Funds (TDF) align investments with the user&rsquo;s expected retirement year, progressively shifting from aggressive strategies during the earlier years to conservative approaches as retirement nears. This dynamic approach ensures that users&rsquo; portfolios adapt to their evolving financial needs and risk appetite, making retirement planning seamless and stress-free.
Alan Ni, CEO of TNG Digital, emphasized, &ldquo;Our goal is to make financial security accessible and achievable for every Malaysian. By adding the Principal PRS to GOfinance, we&rsquo;re providing 22 million TNG eWallet users with an easy, reliable way to actively plan for a comfortable retirement while complementing existing savings.&rdquo;
Principal CEO of Malaysia and Global Shariah, Munirah Khairuddin, shared her enthusiasm, stating, &ldquo;This PRS solution is the first-of-its-kind in Malaysia, leveraging global expertise in asset allocation. It&rsquo;s a hassle-free way to grow your savings, adapting your investments automatically as you approach retirement.&rdquo;
Benefits and Incentives for Malaysians
<img src="https://r2.myc.my/a1205991e5ba1c9e362a3adf63de35453cb24f62d875c2be4cbdbdb606310703" />
One of the standout features of the Principal PRS is its accessibility, with a low entry point of RM100. Contributions also qualify for income tax relief of up to RM3,000 annually until 2030, making it a practical and tax-efficient solution for Malaysians looking to boost their retirement savings.
To encourage participation, TNG eWallet is offering an additional reward of up to 8% per annum for 30 days on investments of RM100 or more made before December 31, 2024. This incentive underscores TNG Digital&rsquo;s commitment to fostering a savings culture among its users while enhancing their long-term financial resilience.
Users can easily access this feature through the GOfinance Hub within the TNG eWallet app. By selecting either the Principal RetireEasy or Principal Islamic RetireEasy funds, they can start saving immediately. Current estimated returns range from 18.96% to 26.80% for conventional funds and 15.40% to 21.52% for Sharia-compliant options.
How Principal PRS Works
<img src="https://r2.myc.my/e5c632d3816ec5719ea0dcda7a9848b5e51d33da94e3cc338c18e4803bcd1106" />
The Principal PRS Target Date Funds are designed to simplify the investment process for users. During the early stages of the investment, the funds are allocated to aggressive, growth-focused strategies, which are gradually rebalanced to more moderate and conservative strategies as retirement approaches. This glide path ensures that users&rsquo; portfolios are optimized for their specific age and retirement timeline without the need for active management.
Munirah elaborated, &ldquo;The TDF eliminates the complexity of retirement planning. Users only need to maintain consistent contributions, and the fund will handle the heavy lifting by adapting the investments to suit their life stage.&rdquo;
TNG eWallet&rsquo;s integration of the Principal PRS represents a significant step forward in making financial planning accessible to all Malaysians. With this user-friendly and secure solution, individuals can take charge of their financial future effortlessly.
To learn more or to start your retirement savings journey, visit TNG eWallet&rsquo;s GoInvest page <a href="https://www.touchngo.com.my/goinvest/principal/">here</a>.
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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Got extra cash? Put it to good use and start building your retirement fund today!

56c2b129b44a10b6707bc8fd33c9c08e79ceb3fd157c9e0b56d14733054a0f01

TNG eWallet Launches Principal PRS, Enabling Users To Start Retirement Savings With Just RM100

When visiting any shopping mall in the Klang Valley or across Malaysia, it's hard to miss the popular Japanese clothing store, UNIQLO, known for its signature and energetic &ldquo;Welcome to UNIQLO!&rdquo; greeting from staff members.
While the enthusiastic greeting can sometimes catch shoppers off guard, especially in the typically quiet atmosphere of retail stores, many customers leave with positive impressions of their shopping experience.
<img src="https://r2.myc.my/671be1faea673176c90260614e8a10421d837a958f68ca2e93ea5c683f8316de" />
The store has also gained attention online for its attractive hiring advertisements, which offered retail associates a basic monthly salary of RM3,000. Compared to many full-time positions in Malaysia, this pay is considered relatively competitive.
Read: <a href="https://myc.my/articles/3891/msian-netizens-shocked-and-applaud-uniqlo-for-offering-retail-associates-a-basic-salary-of-rm3000">M&rsquo;sian Netizens Shocked &amp; Applaud UNIQLO For Offering Retail Associates A Basic Salary Of RM3,000</a>
Although the job may appear enticing at first glance, the reality of UNIQLO&rsquo;s work culture might come as a surprise to many. While some describe the environment as relatively laid-back, typical of retail work, the demanding long hours often reflect the job's inherent nature. However, recent grievances from former employees have shed light on increasing dissatisfaction with the company's management, highlighting concerns about its practices and policies.
UNIQLO&rsquo;s Instagram Post Gets Flooded With Dissatisfied Employees
<img src="https://r2.myc.my/7551b3dea75f05f3ddab6177af73178b2aa9b64e944ac3d5dcb0a8eb6f090380" />
Recently, the well-known clothing brand posted on <a href="https://www.instagram.com/p/DE6L_FOpOgj/?img_index=1">Instagram</a> to promote a sale for the upcoming Chinese New Year celebrations. What seemed like a standard update quickly took an unexpected turn upon closer inspection of the comments section.&nbsp;
Instead of the usual enthusiasm for the sale, the post was flooded with complaints from individuals claiming to be former employees. They expressed dissatisfaction with UNIQLO&rsquo;s management, raising concerns about workplace conditions and practices.&nbsp;
Among the over 3,000 comments, many netizens chimed in by tagging friends to "spill the tea," transforming the post into a platform for grievances rather than festive excitement.
Netizens Balance Out The Views Of Alleged Staff Experiences
Scrolling through the comments section, some of the grievances raised by individuals include the unprofessional handling of annual leave requests, with instances of approved leave being abruptly cancelled.
&ldquo;I submitted my leave application three months ahead and even bought plane tickets. But just a week before the date, my leave was revoked, and they accused me of applying at the last minute,&rdquo; one user shared.
Others highlighted perceived unfairness in staff promotions, alleging favouritism within the workplace.
&ldquo;They only promote their preferred staff, even when their performance is poor,&rdquo; claimed a former UNIQLO employee.
Additionally, there were complaints about the company&rsquo;s poor work-life balance, despite offering relatively competitive salaries.
Here&rsquo;s some of the comments:
<img src="https://r2.myc.my/fa91fa6ea037b942e2865d201ace908ba6418622954ffc74794f33848e9bec15" />
Reaction From UNIQLO 
<img src="https://media0.giphy.com/media/v1.Y2lkPTc5MGI3NjExZWtoZnI0aGk4bG8wcjU2dXVnOGp6dW95ZnFhbWNyajV6YWM4MWU4byZlcD12MV9pbnRlcm5hbF9naWZfYnlfaWQmY3Q9Zw/mVMjY8KAzamv1gd8Nr/giphy.gif" />
Despite the post being inundated with critical comments about its management, UNIQLO has yet to release a formal public statement addressing the matter.&nbsp;
However, when approached for clarification, the company promptly responded, stating that it is committed to maintaining a fair, transparent, and respectful work environment for all employees. UNIQLO emphasised that it takes employee feedback seriously and is dedicated to addressing concerns raised by its staff.
While the truth behind these claims about UNIQLO&rsquo;s management remains uncertain, it&rsquo;s worth noting that some individuals who have worked part-time with the brand have shared positive experiences. For now, we can only wait to see if the company will issue a formal public statement to address the concerns raised.
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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Is everyone’s favourite leisure brand falling short when it comes to treating its staff right?

660b6ea5640c47d37184e67194de941bb70c06f4566d0c1b53d7a0bdbf7414c9

UNIQLO’s CNY Sale Post Sparks Allegations Of Toxic Work Culture From Former Employees

A prominent Malaysian restaurant chain, Oriental Kopi, has found itself in hot water after announcing a temporary hike in its service fees during the upcoming Chinese New Year holiday. Notices displayed at its outlets informed customers that the usual 10% service fee would increase to 15% on January 29 and 30, the first two days of the Lunar New Year.
This increase, on top of the standard 6% Sales and Service Tax (SST), means diners will face an additional 21% in charges on their bills. The announcement has sparked widespread criticism online, with many netizens accusing the restaurant of exploiting the festive season to pass operational costs onto customers.
Public Backlash and Criticism
<img src="https://r2.myc.my/bce03ed9b772456ef63f08cae2359007c2384de0970cff9e2ca1c84a8ca27fe6" />
The decision has drawn the ire of many on social media platforms, with critics questioning the fairness of such a practice. Customers expressed frustration, arguing that businesses should manage increased holiday costs from their profits rather than shifting the burden to diners. Some pointed out that the increased footfall during festive seasons naturally boosts revenue, which could be used to cover extra expenses like higher staff wages.
Several netizens proposed alternative solutions, such as reducing operating hours or temporarily closing if the restaurant cannot manage the increased demand without resorting to higher fees. Others even questioned the legality of the fee hike and tagged the Ministry of Domestic Trade and Cost of Living (KPDNHEP) to investigate.
However, a few defended the restaurant, suggesting the hike was justifiable. They noted that businesses must pay double wages during public holidays and are often prohibited from closing by mall policies.
Here&rsquo;s some of the comments:
<img src="https://r2.myc.my/8705857e68e0824f5da5cdbd0f600d0b7825641d93677e7c2511fdeb05772532" />
Ministry Intervention
<img src="https://r2.myc.my/b343212e9624a64a47d9f5f6f447f56d8742929afa6d1df2f875cdf29db586fe" />
In light of the growing public outcry, KPDNHEP has confirmed it will look into the matter. The ministry stated that businesses should not arbitrarily increase charges, especially during significant holidays, without valid justification.
&ldquo;The enforcement unit has taken action to track the parties involved and will summon the restaurant for discussions to determine the reason behind the increase or change in service fees,&rdquo; the ministry said in a statement.
The case is being investigated under the Price Control and Anti-Profiteering Act 2011. This law sets strict penalties for businesses found guilty of unreasonable price hikes or profiteering:
<ul>
<li>Companies: Fines of up to RM500,000 for a first offence and up to RM1 million for repeat offences.</li>
<li>Individuals: Fines of up to RM100,000, a maximum jail term of three years, or both for a first offence. Repeat offenders face fines of up to RM250,000, a maximum jail term of five years, or both.</li>
</ul>
While the ministry has encouraged the public to report similar cases, it noted that no official complaints against Oriental Kopi have been lodged yet.
Recurring Issue
This isn&rsquo;t the first time Oriental Kopi has raised its service fees during the Lunar New Year. Last year, the restaurant reportedly implemented a similar hike, though it went largely unnoticed, as no formal complaints were filed at the time.
This year&rsquo;s controversy, however, has reignited debates about service fees in the food and beverage industry. While some argue that businesses have no choice but to adjust prices to cover holiday expenses, others believe such practices unfairly target consumers during times of celebration.
A Broader Industry Dilemma
<img src="https://r2.myc.my/64b822428b7181e25a7f25705586c72dfdb85c2283bb9e72da6122daf1bf226a" />
The incident highlights the challenges faced by the food and beverage industry during festive seasons. Many restaurants struggle to balance the need to remain profitable with the expectations of customers, especially when operating under increased costs for staffing, ingredients, and logistics.
On the one hand, festive seasons often bring in larger crowds, generating higher revenue. On the other, businesses are also burdened with additional expenses, such as overtime wages for staff, which can double during public holidays.
Some industry experts argue that clear communication and transparency about pricing can help businesses navigate such situations. Instead of last-minute notices, restaurants could pre-emptively inform customers about potential surcharges, giving them a choice to dine elsewhere if they find the fees excessive.
As KPDNHEP continues its investigation, the public eagerly awaits clarity on whether Oriental Kopi&rsquo;s fee increase breaches regulations. The outcome could set a precedent for how businesses handle price adjustments during peak seasons, particularly in an era where consumers are increasingly vocal about their rights.
For now, the debate underscores the fine line between maintaining profitability and ensuring customer satisfaction, especially during cultural celebrations that are meant to bring joy rather than financial strain.
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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21% tax for a meal this CNY? Count us out!

f134224a44d3b5c2c272fcaa976f168abf267139dc786f78a2a9feeb5864e73a

CNY Service Fee Hike At Popular Oriental Kopi Restaurant Chain Sparks Outrage

The Malaysian government has officially announced the end of toll exemptions during festive seasons, a decision that marks the conclusion of a longstanding tradition. Starting this year, road users will no longer enjoy toll-free travel during holidays, including the upcoming Chinese New Year on January 29, 2025.
Works Minister Datuk Seri Alexander Nanta Linggi confirmed that the initiative has been discontinued following a Cabinet decision made last year. Speaking at a press conference, Nanta explained, "This decision aligns with the government&rsquo;s broader strategy of implementing more targeted subsidies. Details of the new approach will be announced soon."
The Last Toll-Free Holidays
<img src="https://r2.myc.my/c6505ab1b6cb7f3437f7436897d6b142ac36515d2a3aa8351c60f2a72b79640b" />
The final instances of toll exemptions occurred during the Christmas holiday in 2024, with free tolls limited to personal vehicles categorised as Class 1. Over the years, the initiative has cost the government substantial amounts. In 2024 alone, toll-free days during Aidilfitri, Deepavali, Chinese New Year, and Christmas incurred costs of RM80.07 million, RM42.31 million, RM41.21 million, and RM38 million, respectively.
Nanta highlighted that the financial burden of toll exemptions was fully borne by the government, with concessionaires incurring no losses. On average, each day of toll-free travel costs the government approximately RM20 million.
A Targeted Approach to Subsidies
<img src="https://r2.myc.my/60405aefe563a16d37e1f11166cead3c1e98f72fb3b32a33b0de7b0010bb234d" />
While details of the new targeted approach remain undisclosed, Nanta assured that the policy shift is part of the government&rsquo;s ongoing efforts to reform subsidies. "We are working towards a system that benefits those who need it most. The specifics will be shared in due course," he said.
This transition comes as part of a broader policy to optimise financial resources and address the country's economic challenges, including rising costs and a need for fiscal efficiency.
Public Reaction
The announcement has sparked mixed reactions from the public. Many Malaysians who had grown accustomed to toll-free travel during festive seasons view the change as a significant shift. Others see it as a necessary step to ensure subsidies are allocated more equitably.
The government&rsquo;s decision also aligns with recent infrastructure developments. Speaking at the opening of Section 2 of the West Coast Expressway (WCE), Nanta noted that the highway is expected to serve around 150,000 daily users and connect Selangor, Perak, and the northern regions.
Here&rsquo;s some of the comments:
<blockquote class="twitter-tweet" data-conversation="none">
Malaysians shouldn't be bought by 'free' toll nonsense. It's not "free". The gov pays on our behalf in other words it's still our money. It's also cheap that they think they can 'buy ' our support with free toll. That is not FREE!
&mdash; ForABetterMY (@ForABetterMY) <a href="https://twitter.com/ForABetterMY/status/1881623701248245783?ref_src=twsrc%5Etfw">January 21, 2025</a></blockquote>

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<blockquote class="twitter-tweet" data-conversation="none">
After all, only the rich city boys get to enjoy this toll exemption. Miskin bandar tak mampu nak balik kampung, miskin kampung tak lalu tol.
&mdash; Ho 𝕏 (@hofizachoson) <a href="https://twitter.com/hofizachoson/status/1881590061323743363?ref_src=twsrc%5Etfw">January 21, 2025</a></blockquote>

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<blockquote class="twitter-tweet" data-conversation="none">
That&rsquo;s okay. No need exemptions. It&rsquo;s actually time we stopped having highway tolls actually.
&mdash; Paul PaKat (@psunster) <a href="https://twitter.com/psunster/status/1881851672366051609?ref_src=twsrc%5Etfw">January 21, 2025</a></blockquote>

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<blockquote class="twitter-tweet" data-conversation="none">
Ok but when want to abolish toll? DSAI <a href="https://twitter.com/anwaribrahim?ref_src=twsrc%5Etfw">@anwaribrahim</a> That was one of the manifestos right..
&mdash; William Jacob  (@williamjacob88) <a href="https://twitter.com/williamjacob88/status/1881583160250830940?ref_src=twsrc%5Etfw">January 21, 2025</a></blockquote>

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<blockquote class="twitter-tweet" data-conversation="none">
It&rsquo;s not even free at the first place. Govt paid for it and we pay the govt through taxes. 😑
&mdash; 職業廢人 (@iamnotreiko) <a href="https://twitter.com/iamnotreiko/status/1881697567471472940?ref_src=twsrc%5Etfw">January 21, 2025</a></blockquote>

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<blockquote class="twitter-tweet" data-conversation="none">
Dah lama tak dengar berita menyeronokkan dari PM Anwar. Bantuan2 dan duit free semua sekadar sambungan dari Najibon. Lepas ni targeted subsidies pulaaaaaa. Sama ada ramai yg layak tak dapat atau ketirisan la lepas ni.
&mdash; AzMan (@abangboring) <a href="https://twitter.com/abangboring/status/1881599668083400780?ref_src=twsrc%5Etfw">January 21, 2025</a></blockquote>

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A New Chapter in Festive Travel
As Malaysia transitions away from toll-free festive seasons, the focus now shifts to how the government will implement its targeted subsidy approach. While many details remain to be revealed, the decision reflects the government&rsquo;s commitment to addressing economic challenges while balancing the needs of its citizens.
For now, motorists will need to prepare for a different experience during holiday travel, marking the end of an era in Malaysia&rsquo;s festive traditions.
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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The government is set to introduce a new targeted subsidy approach soon. What are your thoughts?

8ec03dee7b09446d15bf8d8fc87369be286e685aeee2d3ce1423e2580f98c062

Free Toll Exemptions Discontinued: Government Shifts To Targeted Subsidies

Seven Bank Ltd, the banking arm of Japan&rsquo;s 7-Eleven Group, has officially entered the Malaysian market, bringing its innovative Cash Recycling Machines (CRMs) under the brand name Reachful. These machines, combining automated teller machine (ATM) and cash deposit machine (CDM) functionalities, aim to enhance banking accessibility and convenience for Malaysians.
The rollout begins with 100 CRMs planned for installation in 7-Eleven outlets across Kuala Lumpur, Selangor, Johor, and Penang by the end of 2025. Further expansion into Sabah, Sarawak, and suburban areas is slated for 2026, marking Malaysia as Seven Bank&rsquo;s fourth international market, following successful ventures in the United States, Indonesia, and the Philippines.
Addressing Malaysia&rsquo;s Banking Needs
<img src="https://r2.myc.my/1a37f1c6fdfd56ff607fb2c844c447bb30b54d9666d86b6623516cb360124734" /> From left: Reachful Malaysia Sdn Bhd chief executive officer Jin Sudo with Seven Bank Ltd president Masaaki Matsuhashi and its managing executive officer Tsuneo Nagashima.
Malaysia&rsquo;s payment landscape still heavily relies on cash, despite a gradual shift toward digital transactions. A 2022 PayNet study revealed that 78% of Malaysians prefer cash payments, with 48% using cash daily&mdash;a figure that rises to nearly two-thirds in non-urban areas. A more recent 2024 Ipsos report showed that 45% of Malaysians still rely exclusively on cash for transactions.
Recognising this demand, Seven Bank aims to address gaps in ATM density and banking services in underserved areas. Reachful Malaysia&rsquo;s CEO, Jin Sudo, highlighted the country&rsquo;s growing population, GDP, and persistent cash circulation as key factors driving the expansion.
Seven Bank president Masaaki Matsuhashi shared the vision of making financial services more accessible:
&ldquo;By collaborating with our partner companies to deploy ATM services in 7-Eleven stores in Malaysia, we hope to enrich the lives of the Malaysian people and contribute to further social development and economic growth.&rdquo;
Enhancing Convenience Through CRMs
<img src="https://r2.myc.my/f5690bda4a9e3b46d185efe5e5ffd5a06724254e6cdfe13583220b3547455048" />
The CRMs offer users a seamless banking experience, allowing cash withdrawals and deposits in a single location. Installed initially at 7-Eleven outlets, the machines will charge RM1 for interbank cash withdrawals, aligning with fees from Malaysian Electronic Payment System (MEPS) ATMs.
The machines also aim to elevate the convenience factor for 7-Eleven customers, as highlighted by co-CEO Tan U-Ming:
&ldquo;We want our stores to be one-stop solutions where customers can grab a coffee, pay bills, and withdraw or deposit cash&mdash;all in one visit.&rdquo;
In addition to deploying CRMs in 7-Eleven stores, Reachful Malaysia is exploring potential partnerships with supermarkets, petrol stations, and other locations to expand its presence further.
Future Expansion and Collaborations
<img src="https://r2.myc.my/7cfa59c19202974171f9d12215fcc39cb036240fdb16c45da2beb71d1d1cfdce" />
Currently, Malaysia boasts 2,600 7-Eleven stores, making it a promising market for integrating retail and financial services. Reachful Malaysia also plans to develop additional services based on customer needs, potentially introducing value-added features to its machines.
With its first CRM already operational in Rawang and many more installations on the way, the company is set to transform the way Malaysians access banking services. Whether in bustling urban centres or underserved suburban areas, Reachful&rsquo;s expansion promises to offer greater financial accessibility and convenience.
A Promising Collaboration
The rollout is a collaborative effort involving Seven Bank Ltd, 7-Eleven Services Sdn Bhd, HQZ Credit Sdn Bhd, and SMRT Holdings Bhd, showcasing a strong commitment to bridging the gap between financial services and retail convenience.
As the CRMs begin appearing in your neighbourhood, you can look forward to a more streamlined and accessible banking experience&mdash;one that perfectly aligns with Malaysia&rsquo;s evolving financial 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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The first CRM is now live in Rawang, with more rolling out nationwide in stages!

20000bd9ebca0edcc5a45bd06a9306a20a587d6e59adb3fffccedccd62ff73df

Seven Bank Expands To Malaysia: 7-Eleven Stores To Deploy 100 CRMs Nationwide

The National Cancer Society Malaysia (NCSM) is running a special initiative to offer free HPV vaccinations to eligible individuals from January 20 to 26. This vital programme aims to boost awareness and protect more people from HPV-related cancers.
Why the HPV Vaccine is Important
<img src="https://r2.myc.my/941f0f0b13d45ad8bb12282457194a0b465f5cb7ba3d65c1186cebff8172fa18" />
HPV, or human papillomavirus, is a prevalent virus that can lead to serious health issues, including cervical, anal, and throat cancers. By increasing vaccination rates, NCSM hopes to reduce the risk of these cancers and safeguard the health of Malaysians.
Who Can Get Vaccinated?
The HPV Immunisation Programme is open to:
<ul>
<li>Males and females aged 13 to 26 years old.</li>
<li>Individuals needing either their first or second doses of the vaccine.</li>
</ul>
Note: Individuals outside this age range may be subject to specific terms and conditions.
How to Participate?
<img src="https://r2.myc.my/3f6bf84e26ddd7d2cbd31044c37316ef1db7d9de5ccf1bbb3efda50c60afca3a" />
Location: Vaccinations will be administered at the Level 3 Activity Room, NCSM, Kuala Lumpur.
Dates and Times: Walk-ins are welcome between 8:30 AM and 10:00 PM, from 20 to 26 January 2025.
To secure your slot, simply register by scanning the provided QR code.
Need More Information?
For further enquiries, feel free to reach out to NCSM via <a href="https://wa.link/q4a4ee">WhatsApp</a>.
This is a fantastic opportunity to prioritise your health and take a proactive step in preventing HPV-related cancers. Don't miss it!
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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M’sians have until 26 January to seize this opportunity—don’t miss out

7b8258679e0de5cd0b62df3bc85dd18fa934fdee7db2b0c85a0fd47aa97c5e5d

PSA: Free HPV Vaccinations Offered By The National Cancer Society Malaysia

In Malaysia, one of the most pressing concerns for social media users is the credibility of what they come across online. Over the past five years, Malaysians have unfortunately become some of the most frequent victims of scams, with a staggering RM11.23 billion collectively lost to fraudsters, according to Bukit Aman&rsquo;s Commercial Crime Investigation Department (CCID) Director, Datuk Seri Ramli Mohamed Yoosuf.
To put this into perspective, RM11.23 billion could buy an astounding 4.5 billion packets of instant noodles&mdash;enough to last a lifetime&mdash;or 636 million ala carte 3-piece Ayam Goreng McD meals, which would be more than enough to feed a nation or two.
In 2020, the Malaysian police dealt with 27,323 scam cases, but by 2024, that number had jumped to 41,701&mdash;an increase of 53.2%. The breakdown of scam types in 2024 paints a worrying picture of the range of deceit:
<ul>
<li>Fraud cases: 37,240 (RM2.45 million lost)</li>
<li>Trust-related scams: 1,448 (RM546.39 million vanished)</li>
<li>Illegal lending: 1,060 (RM5.29 million disappeared)</li>
<li>And many more&hellip;</li>
</ul>
Scammers have a wide array of tricks up their sleeves, and some of the most popular scams include:
<ul>
<li>Phone scams (14,684 cases): Apparently, there are still princes out there who need help moving millions.</li>
<li>E-commerce scams (7,662 cases): That too-good-to-be-true PS5 deal? Yep, it was.</li>
<li>Fake investment schemes (6,337 cases): Your neighbour&rsquo;s cousin&rsquo;s friend is not a crypto genius.</li>
<li>Love parcel scams (770 cases): Because romance scams needed a trendy upgrade.</li>
</ul>
Can Malaysia&rsquo;s Social Media Licensing Stop The Scams?
<img src="https://r2.myc.my/178fa507ab50c3a8693e227f3e590cdd4bdf8d036d7590732fef35cff2a25e8a" />
Meta, the parent company of Facebook, Instagram, and WhatsApp, is facing criticism for allowing scam advertisements on its platforms that misuse the image of the Yang di-Pertuan Agong, Sultan Ibrahim. These fake ads, some impersonating reputable Malaysian media outlets like The Star, are a violation of both Meta&rsquo;s own advertising policies and Malaysian laws.
This controversy arises amidst Meta&rsquo;s struggle to comply with Malaysia&rsquo;s newly implemented social media and instant messaging regulations, which aim to curb harmful online content.
Meta&rsquo;s Content Moderation: A Troubling Gap
<blockquote class="twitter-tweet">
Reported about these sort of scams before and got a response that it wasn&rsquo;t against their rules 🤷&zwj;♂️ <a href="https://t.co/jfWgLd2jyz">pic.twitter.com/jfWgLd2jyz</a>
&mdash; Hadi Azmi (@amerhadiazmi) <a href="https://twitter.com/amerhadiazmi/status/1877557856318402958?ref_src=twsrc%5Etfw">January 10, 2025</a></blockquote>

<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Despite boasting advanced AI systems to monitor content, Meta has gained a reputation in Malaysia for failing to prevent scam ads that exploit the identities of public figures and brands. Screenshots shared by journalist Hadi Azmi reveal Meta-approved advertisements that spread fake news using images of the King.
While Meta is reportedly close to obtaining its Application Service Provider (ASP) licence to comply with Malaysian regulations, its current moderation practices suggest a business-as-usual approach. This leniency has sparked concerns about the platform&rsquo;s commitment to safeguarding users from online scams.
<img src="https://r2.myc.my/1b95f2c5e4b257d7c8e5aa46647680b88bb16b5622e29b0356c31d0cf7ecb345" />
Meta had also recently announced changes to its content moderation approach. CEO Mark Zuckerberg revealed plans to phase out the third-party fact-checking programme in favour of a "Community Notes" model, inspired by X (formerly Twitter). The company claims this move will foster greater free speech while prioritising enforcement of illegal and severe violations.
However, critics argue that this shift shifts the responsibility for moderation onto users, leaving gaps in addressing critical issues such as online scams and crimes against children. This hands-off approach raises questions about Meta&rsquo;s readiness to tackle pressing online harms effectively.
Are Malaysia&rsquo;s Social Media Regulations Effective?
<img src="https://r2.myc.my/42aadadeba775e967ea3e10a6f32c687ba3d5e4a0d74c7a335191547c043a9a0" />
Under Malaysia&rsquo;s new social media regulations, platforms with over 8 million Malaysian users must obtain an ASP licence from the Malaysian Communications and Multimedia Commission (MCMC) by 1st January 2025. Non-compliant companies risk fines of up to RM500,000, imprisonment of up to five years, or both.
Despite these measures, Meta has yet to demonstrate concrete efforts to address scam advertisements. Reports indicate the platform generates over RM2.5 billion annually from Malaysian users but has failed to implement adequate safeguards against scammers exploiting its services.
Communications Minister Fahmi Fadzil recently criticised Meta&rsquo;s inaction, highlighting that Malaysians have collectively lost RM432 million through scams linked to Facebook. While Malaysia has no plans to block non-compliant platforms, this leniency contrasts with Indonesia&rsquo;s stricter approach, where platforms must respond to takedown requests for unlawful content within four hours or face the risk of being blocked.
The State of Compliance Among Platforms &amp; Moving Forward
<img src="https://r2.myc.my/e87a265422603687a9d59da9a6ad9d971cc9aa0be9d24dabf49750b17f0615e4" />
Read: <a href="https://myc.my/articles/4032/malaysias-new-social-media-licensing-framework-which-platforms-have-applied">Malaysia&rsquo;s New Social Media Licensing Framework: Which Platforms Have Applied?</a>
As of now, only WeChat (Tencent), TikTok (ByteDance), and Telegram have secured their ASP licences in Malaysia. Meta remains among the platforms lagging behind, raising concerns about whether the current regulations can compel such tech giants to adopt meaningful changes.
Meta&rsquo;s failure to effectively curb scam ads and fully comply with Malaysian regulations underscores the ongoing challenge of holding tech giants accountable in today&rsquo;s increasingly digital world. With Malaysians collectively losing significant sums to online scams, it is clear that stronger enforcement and more prompt action are crucial for ensuring user safety moving forward.
The widespread nature of these scams further highlights the urgent need for increased awareness and vigilance online. With so many falling victim to fraudulent schemes, the scale of the issue is undeniable, and more robust measures must be implemented to safeguard Malaysians from these digital threats.
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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M’sians have already lost RM11.23 billion to scams, and this number is likely to rise if proper action isn’t taken.

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Meta Under Fire For Scam Ads Featuring Malaysian King: Is Social Media Licensing The Solution?

Online banking has become a staple of modern life, offering unparalleled convenience. However, it also comes with increasing risks, particularly the threat of online scams targeting unsuspecting users. To address these concerns, Maybank has introduced Money Lock, a revolutionary feature available on its MAE App. This first-in-Malaysia counterfraud security measure builds on its successful launch in Singapore in mid-2024, offering customers greater control and peace of mind over their finances.
What is Money Lock and How Does It Work?
<img src="https://r2.myc.my/1eae70dafb6e7ae67d8503a07bfaa576ed276e0777b1f73305e714cc952141f7" />
At its core, Money Lock allows customers to secure funds in their savings or current accounts, preventing these funds from being accessed digitally. With the ability to lock amounts ranging from RM10 to the total account balance, customers can tailor their security needs to their preferences.
Activating Money Lock is seamless and user-friendly. Through the MAE App, users can select the account and amount they wish to secure. Once activated, the locked funds remain inaccessible for digital transactions such as online transfers, ATM withdrawals, debit card payments, bill payments, and more. Importantly, the locked funds continue to earn the same interest or profit rates as the rest of the account balance.
If the need arises to unlock or reduce the locked amount, customers can do so by visiting any Maybank ATM or branch for a quick and secure verification process. This added step ensures that only authorized users can access the locked funds, enhancing security further.
Who Can Benefit Most from Money Lock?
Money Lock is designed with all customers in mind but is particularly beneficial for individuals who may be more vulnerable to online scams, such as senior citizens or those less familiar with digital banking. By providing a straightforward way to secure funds, the feature offers an extra layer of protection to those who need it most.
A Multifaceted Approach to Fraud Prevention
Money Lock is one component of Maybank&rsquo;s comprehensive strategy to combat online fraud. The bank has introduced several other measures to safeguard its customers, including:
<ul>
<li>Secure2u Authentication: A safer alternative to SMS OTP, reducing the risk of SMS TAC fraud.</li>
<li>Device Restriction: Limiting online banking access to a single device per customer to prevent unauthorized use.</li>
<li>Cooling-Off Periods: Enforced for payment and transfer limit changes or Secure2u activation on new devices.</li>
<li>Malware Shielding: Built into the MAE App to detect and block malicious software.</li>
<li>ATM-Based Secure2u Activation: Adding an additional layer of control and security.</li>
<li>24/7 Fraud Support Hotline: Dedicated assistance for customers who suspect fraudulent activity.</li>
<li>With these measures, Maybank is proactively addressing evolving fraud tactics, ensuring that customers can bank with confidence.</li>
</ul>
How Does Money Lock Enhance Security?
<img src="https://r2.myc.my/bbd2c3999f7cc569a6aac93123d0fe92513b816bf8fcc52bea398986bc01dd2d" />
Locked funds are shielded from all digital transactions, including:
<ul>
<li>Online banking transfers.</li>
<li>ATM withdrawals.</li>
<li>Debit card usage.</li>
<li>Payments for bills, credit cards, or loans.</li>
<li>Fixed deposit placements.</li>
<li>Standing instructions or recurring payments.</li>
</ul>
This ensures that even in the unlikely event of unauthorized access to your account, the locked funds remain untouchable.
How to Activate Money Lock?
<img src="https://r2.myc.my/543ae756cfdf3b68accc02693bd766bcce3c148e97f8fdebfbcf19bd7bdf2e4c" />
Activating Money Lock is quick and straightforward. Follow these steps to enable this innovative security feature:
<ol>
<li>Open the MAE App and navigate to the &ldquo;Accounts&rdquo; tab.</li>
<li>Select the desired savings or current account to secure.</li>
<li>Click on the Money Lock icon, choose the amount to lock, and review the summary page.</li>
<li>Approve the activation via Secure2u.</li>
</ol>
Unlocking funds is equally straightforward but requires a visit to a Maybank ATM or branch to complete a secure verification process.
Why Financial Planning Matters
<img src="https://sharpefinancials.com/service/Financial%20palnner.gif" />
While Money Lock provides an effective safeguard, Maybank encourages users to carefully plan their finances before enabling the feature. Ensure that sufficient funds are available for essential transactions and upcoming commitments to avoid disruptions.
A Step Forward in Digital Banking Security
<img src="https://r2.myc.my/2ff2dfc045eb09ad481bf9ef64b34251ec94624e091f70fb05fe045a2df406f4" />
Group CEO of Maybank Community Financial Services, Syed Ahmad Taufik Albar, underscored the importance of this feature, stating that it reflects Maybank&rsquo;s commitment to customer safety and confidence. &ldquo;With Money Lock, Maybank is the first bank in Malaysia to empower customers to digitally lock funds in their savings and current accounts. This innovative tool enhances security and empowers users to conduct online transactions without fear of scams.&rdquo;
Maybank&rsquo;s leadership in digital banking innovation is evident through its comprehensive fraud prevention measures and the introduction of Money Lock. Customers can now embrace the convenience of online banking with greater assurance that their funds are secure.
To learn more about Money Lock and its benefits, visit <a href="https://www.maybank2u.com.my/maybank2u/malaysia/en/personal/security_alert/money-lock.page">maybank.my/MoneyLock</a>.
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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Make smarter financial choices—protect your hard-earned money from scams.

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Secure Your Funds From Scams: Introducing Maybank's Money Lock Feature

Bank Negara Malaysia (BNM) has released a draft proposal outlining key reforms for personal financing practices, including abolishing the controversial Rule of 78 interest calculation method and reclassifying certain home financing products under stricter terms. The move aims to ensure fairer lending practices, greater transparency, and financial stability, particularly in light of rising household debt concerns.
Abolishing the Rule of 78 and Flat Rate Interest
<img src="https://r2.myc.my/768c4ceba9f377ef78449d13331fa9bb96d099c1777489eeea6bd59ea9704682" />
The Rule of 78 has long been criticized for its unfair interest calculation. Under this method, a loan's total interest is pre-calculated based on the original principal, meaning borrowers do not enjoy interest savings even if they settle their loans early. BNM's proposal seeks to eliminate this method for personal financing, a change that aligns with broader efforts to reform lending practices, including amendments to the Hire Purchase Act 1967, set to be tabled in Parliament in early 2025.
Going forward, financial service providers (FSPs) will be restricted to offering personal financing products that calculate interest using either:
<ul>
<li>A fixed or floating rate; or</li>
<li>Interest charged on the remaining principal balance after payments toward the principal are deducted.</li>
</ul>
FSPs will be required to disclose the effective interest rate (EIR), the total repayment amount, and detailed explanations of interest calculations (e.g., daily or monthly reducing balance methods). For floating-rate loans, providers must also explain the conditions for interest rate adjustments, their impacts, and the option for customers to maintain original instalment amounts.
Home Financing Products Reclassified as Personal Financing 
<img src="https://r2.myc.my/ee6941c85768329071803d9f3287d7a16568ddf6abf968f39546cd7dc79515a7" />
In a major shift, BNM proposes to treat specific types of home financing products as personal financing and cap their tenure at 10 years. This applies to cases where:
<ol>
<li>Additional financing exceeds the outstanding amount on a refinanced home loan.</li>
<li>Extra financing is taken beyond the original loan amount after partial repayment.</li>
<li>Financing is secured by a property with no existing mortgage.</li>
</ol>
To prevent misuse, FSPs will need to verify the actual purpose of the financing by requiring supporting documents. Exceptions to the 10-year cap include financing strictly for:
<ul>
<li>Renovations.</li>
<li>Mortgage-reducing term assurance (MRTA) or takaful.</li>
<li>Legal fees, education, or business purposes.</li>
</ul>
Additionally, the cap does not apply if the new financing amount, combined with the outstanding balance, does not exceed the original loan amount and tenure, or if it involves pre-paid amounts or extra repayments.
Addressing Household Debt and Reducing Loan Tenures 
<img src="https://r2.myc.my/2175950407c42094a9d395847c76c7736a7a1bd9c653fcdb674d4258a95b4d79" />
BNM is also seeking public feedback on whether the maximum tenure for personal financing should be reduced further to seven years, as practiced in other countries like Australia and Singapore. Currently, Malaysia allows a maximum of 10 years.
The proposal comes in response to growing concerns over household debt levels. As of end-2023, Malaysia's aggregate household debt stood at RM1.53 trillion, with 12.6% attributed to personal financing. Alarmingly, personal financing accounted for 46.26% of total bankruptcy cases in 2023, while 32.8% of loans under the Debt Management Programme managed by Agensi Kaunseling dan Pengurusan Kredit (AKPK) also comprised personal financing.
BNM emphasizes that shorter tenures encourage responsible borrowing and reduce long-term financial risks. The central bank is now inviting feedback from the public and industry stakeholders on the proposed tenure reduction, its feasibility, and potential challenges.
The Future of Lending in Malaysia
These proposed changes reflect BNM's commitment to improving transparency, responsible lending, and protecting borrowers from predatory financial practices. By abolishing outdated methods like the Rule of 78 and capping tenures for personal financing, BNM hopes to strike a balance between consumer affordability and long-term financial stability.
Public feedback on the draft proposal is open until February 14, 2025, and can be submitted electronically through <a href="https://forms.office.com/r/HFWD3UZFEf">BNM&rsquo;s official feedback form</a>. This initiative marks a significant step toward fostering a healthier lending ecosystem in Malaysia.
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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Are these changes the key to tackling rising household debt? Let’s find out.

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