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Apply for smartphone rebate RM200

January 3rd, 2013
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Syarat-syarat:

1. Age 21 – 30 years

2. Salary RM3000 and below (pendapatan kasar/gross income)

3. Only one smartphone per person

4. First come first serve. Meaning about 1.5 million people will get it.

5. Only for smartphones costing below RM500. Any smartphone can!!!

6. Need to apply line together with phone, at selected providers like Celcom, Maxis, Digi, uMobile etc

7. Need to register first at SKMM website.

If you are a student, register at: http://komunikasibelia.skmm.gov.my/Public/DaftarPelajar

If you are working, register at: http://komunikasibelia.skmm.gov.my/Public/DaftarPekerja

 

* The govt cancelled the requirement for smartphone costing RM500 yesterday.

Earlier news:

The Government’s plan in giving out RM200 rebate for smartphones worth less than RM500 next year is to convert non-smartphone users to bridge the digital divide.

The Malaysian Communications and Multimedia Commission (MCMC) chairman Datuk Mohamed Sharil Mohamed Tarmizi said that the rebate is not targeted at those who want to buy expensive phones.

“We really want those with the old second generation mobile phones to migrate to a basic 3G smartphone.

“These are the people who generally want to buy a smartphone, but they cannot afford one,” he said.

He added that the rebate should also serve only those who aren’t earning much, referring to the criteria that the rebate is only applicable for those earning less than RM3,000.

“If you can buy a RM2,000 smartphone, you’re not the person we want to help. If you can afford this kind of phone, would you want a RM200 rebate?” he asked.

According to the Hand Phone Users Survey 2011 published by the MCMC, 89.6% handphone users polled earn less than RM3,000. At the same time, 87.3% handphone users surveyed are still using normal phones without smartphone capabilities.

The rebate is also only allowed for Malaysians between the ages of 21 and 30.

Sharil added that at last count, there are 20 smartphone models from seven manufacturers which cost less than RM500 in retail price, with some of them being globally renowned brands.

When checked, Samsung also offers three smartphone models priced less than RM500 including the popular Samsung Galaxy Y.

With the total allocation for the rebate placed at RM300mil, serving 1.5 million youths as announced by Prime Minister Datuk Seri Najib Tun Razak when tabling the 2013 budget, Sharil expected for the entire sum to be used.

He also said that there will be mechanisms put in place to ensure that people don’t abuse the system, and those interested in the rebate should pre-register themselves on their website first at www.skmm.gov.my.

source: http://thestar.com.my/news/story.asp?file=/2012/12/28/nation/12511709&sec=nation

Question is, with potentially 1.5 million new users, can our telcos cope with it? More dropped lines and slow internet? As it is, my Celcom 3G is like turtle at times. At some places totally zero connection.

And remember, you need to have a data plan to support your phone. Allocate between RM50 to RM90 per month depending on what package you take.

The main reason for this promotion (IMHO) is to boost our Internet and Broadband penetration figures. I think it will help in boosting rankings at various global barometers. Secondly, with election around the corner, its a attraction for youths and politically, more potential voters are now accessible via Internet . Thirdly, it expands the market for apps builders as a million new subscribers will be coming on board.

 

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MIC General Assembly requests to be in Budget 2014

December 14th, 2012
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General assemblies of political parties will see a slew of resolutions being passed. Same with the recently concluded MIC general assembly. 6 resolutions were passed. Various “requests” were made, and according to MIC President, the PM will study these “requests”. And he mentioned that the bulk of it would be in Budget 2014, meaning not next year la (well, Budget 2013 is over already).

Anyway, some of 2011 requests were approved, for example more places in matriculation and increasing allocation for Indians in the budget 2012.

Datuk Seri Najib Tun Razak will study the various requests made by MIC during its just-concluded general assembly.

“We didn’t ask for a lot. We made specific financial requests. I raised them in the recent Cabinet meeting and he agreed. The bulk will be included in the 2014 Budget.

“The Government has given a total RM1.8bil to the Indian community since he took over as Prime Minister,” said party president Datuk Seri G. Palanivel.

Palanivel had in his presidential address asked the Government to set up a 1Malaysia incubator fund for the Indian community in order to attract young minds; RM10mil for Yayasan Strategik Sosial to train young entrepreneurs; RM10mil to expand MIC’s pilot after-school remedial programme, as well as a RM30mil grant to MIED and a matching grant to AIMST University, among others.

source: http://thestar.com.my/news/story.asp?file=/2012/12/14/nation/12460127&sec=nation

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Is owning car cheaper compared to other countries over 5-year period?

October 18th, 2012
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Is it true that using our car for 5 years will be cheaper if compared to using same car overseas, due to fuel subsidy?

Let’s say car cost is RM80,000 while in overseas it costs an equivalent of RM60,000 (25% cheaper). Assume petrol price is RM3.40.  After subsidy the petrol is RM1.90 in Malaysia. Assuming your mileage per year is 25,000 km and fuel consumption is 17km/litre.

5 year subsidised = (25,000/17 x RM1.90) x 5 years = RM15,833.37

5 year unsubsidised = (25,000/17 x RM3.40) x 5 years = RM28,333.39

Cheaper car price + subsidised petrol price 5 years = 80k + 15.6k = RM95.6k

Expensive car price + unsubsidised petrol price 5 years = 60k + 28.3k = RM88.3k.

So, with unsubsidised fuel price, the cost is cheaper by RM7k.

The above depends on car price difference, fuel consumption, petrol price subsidy amount. For example, in Thailand, car prices are lower between 30 and 40% while its about the similar in Indonesia and Philippines. Fuel is not subsidised in Thailand.

The actual cost of owning a vehicle also need to consider insurance, road tax, maintenance cost,  and loan rates in addition to car price and fuel price.

The above is just a simple example I created after I heard the following mentioned by PM:

Najib also insisted that middle class Malaysians do reap indirect benefits from government policies, through subsidies such as for RON95 petrol.

“Although we pay slightly more (for car purchases) initially, but because of the large amount of subsidies, you end up paying much less than your counterpart after five years of use,” he said.

source: http://www.themalaysianinsider.com/malaysia/article/speak-malay-pm-tells-chinese-community/

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Budget 2013 Summary

September 29th, 2012
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Managed to read the budget speech this afternoon. The full report is at treasury website (http://www.treasury.gov.my/data/anggaran/index.html) but its in separate files. Haven’t read them yet.

 

Definitions

Abject Poverty: Household income below RM440

Poor: Household income below RM750

Low Income: Household income ranges from below RM1500, RM2000 or RM3000 depending on which agency defines it.

Middle Income: Household income between RM3001 and RM8000 (unverified)

References:

http://www.kpwkm.gov.my/nkra/definisi

 

2013 Prospects:

  • Economy to grow between 4.5 and 5.5%
  • Nominal GDP to exceed RM1 trillion.
  • Construction sector to increase 11.2%
  • Services sector to increase 5.6%
  • Budget 2013 allocation 251.6 billion (201.9 billion (~80%) for operating expenses and 49.7 billion for development expenses).
  • Development expenses includes 30 billion for economy (infrastructure, industry, agriculture and rural development), 11.1 billion for social (education, training, health, welfare, housing and community development), 4.6 billion for security, 2 billion for general administration and 2 billion for unexpected expenses.
  • Deficit to reduce from 4.5% to 4%
  • Foreign investment to be rm148.4 billion, from 75.3 billion in 2012 and 59.8 billion in 2011.

The summary below DOES NOT cover oil and gas, and capital/finance market areas.

 

Category Item Details Beneficiaries
Agriculture Oil palm, rubber, high value herbs and paddy RM1.5 billion projects via NKEA EPP Agriculture Industry
Social, Environment River of life Sungai Klang upgrading RM500 million cost Klang Valley residents
Public Water pipes and sewage replacement RM 300 million cost Public in selected areas.
Industry To obtain technologies and acquisition of foreign companies RM1 billion DIS fund Large corporations
SME financing RM1 billion SME bank fund SME
SME financing RM200 million fund SME bank and IDB Halal based SMEs
SME insurance RM5k coverage under group insurance scheme for registered owners for small business (including hawkers). Govt to fund RM16 million Small business owners
SME financing PNB program to obtain loan up to RM25k for licensees and RM500k for licensors for franchising and licensed based business models SMEs
Tour Operators Tax Exemption for 3 years For those bringing in 750 foreign tourist or handle 1500 local tourists a year. Tour operators
Agriculture 4 new Paddy granaries RM140 million allocated Farmers and agroentrepreneurs
Agriculture Fishermen incentive, welfare and insurance RM200 monthly allowance for 55k registered fishermen, insurance scheme and catch incentive programs to continue fishermen
Agriculture

 subsidies RM2.4 billion for various subsidies and incentives to continue Farmers and agropreneurs
Agriculture

 insurance Paddy takaful coverage scheme for 172k farmers having less than 10 ha fields. Each farmer can get RM13k. cost for govt is RM50 million
Social – Povery Eradication financing RM41 million to continue AzamTani project to help 6730 poor participants. Poor families
SME financing RM1 billion SME bank fund Bumiputra SMEs
SME financing TEKUN loan with fund RM350 million, including RM50 for indian community Bumiputra SMEs and Indian SMEs
Education training RM500 million for enhancing teaching skills Teachers
Education construction RM1 billion to maintain schools. RM400 million for national schools, RM100 million each to Tamil, Chinese, mission, religious, boarding and MRSM schools. Schools
Education Pre-school financing RM10k grant to open ECCE centers Pre-school SMEs
Education taxation Double deduction for allowance/subsidies provided for maintenance of centers and employees Pre-school SMEs
Education taxation Income tax exemption for 5 years for center operators Pre-school SMEs
Education preschool 6 centers for children with special needs (down syndrome, autism, blind, hearing and speaking disabilities, physical disabilities and learning disabilities Special needs children
Education Skills training RM440 million loan for trainees via PTPK taking MLVK programs Youths, training centres
Education Skills training RM50 million to train indian students with poor results Indian youths
Health Medical screening Socso allocate RM200 million All socso members between age 40 and 55 (estimated 1.4 million ppl)
Green techonology financing Extend GTFS with 2 billion until 2015. GT producing and using companies
Civil Service – pensioners pension Increase minimum amount from RM720 to RM820 effective 1/1/2013. 50,371 Govt pensioners
Social – Senior citizens Service fees 50% reduction in passport fees starting 2013 Senior citizens
Social – Children Service fees 50% reduction in passport fees starting 2013 Children age 12 and below
Military income Special allowance RM200 per month for all staff starting 2013, cost RM301 million Military staff
Military allowance RM1000 special allowance For armed forces members who don’t receive pension
Civil Service housing Fixed processing fee of RM100 Govt staff
Civil Service bonus 1.5 months bonus. 0.5 paid before Raya, another 0.5 to be paid in December and balance 0.5 in January 2013. Govt staff
Civil Service allowance Training allowance for selected categories 31,135 trainees to get higher allowance.
Public Safety police RM20 million for 1000 motorcycles and motor patrolling unit Police, public
Public Safety Local councils 496 units cctv for 25 local authorities Local authorities
Social – Legal funding Legal aid fund RM20 million Low income public
Social security RM10k grant for registered RA Residents association
Social security RM39 million to finance rukun tetangga activities Rukun tetangga
Public Safety Uniform RM90 million to provide 300k volunteers with uniform RELA members
Public Safety Security equipment ,taxation 100% deduction on security control equipments  in the same year, extended to housing developers Housing developers
Rural development roads RM1.2 billion to develop 441km of roads Rural folks
Rural development Basic infrastructure RM1.6 billion for Water supply (24k houses) and electricity (19k houses) Rural folks
Rural development Economic activities 29 villages and 38k villagers for food processing plants, jetties, marketing centers, tourism complexes, homestays etc Rural folks
Health 1malaysia clinic RM20 million to set up another 70 1malaysia clinics public
Health equipments RM100 million to upgrade 350 clinics and buy 150 dialysis machines Public, kidney disease patients
Economic corporate Train 500 women for director positions Women
SME business RM1000 grant to promote business via online Women SME
Health Mammogram examination RM25k allocation for free examination 100k women aged 40 and above.
Social – welfare Financial assistance RM1.2 billion in various programs Senior citizens, children, disabled workers, chronic illness patients
Social – welfare Income financing RM400 million to continue 1azam programs 58,330 poor participants
SME training New Entrepreneur Foundation RM50 million fund for training and guidance ICT youth entrepreneurs
SME financing SME bank fund RM50 million, loan up to RM100k Youths aged 30 and below
Social – youths financing RM200 rebate to buy smartphones from selected telco. RM300 million allocated 1.5 million youths aged 21 to 30 and income below RM3k.
Transportation discount Discount 50% for ktm komuter users with income less than RM3k Public (low income)
Social – Housing House development 123k houses to be built. RM1.9 billion allocation. Public with income between RM5k (individual) to RM10k (joint) per month for My First Home Scheme.  Low income families for PPR houses etc.
Social – Housing financing 50% stamp duty exemption extended to end of 2014 and house price limit raised to RM400k public
Social – Housing sales RPGT to be 15% (less than 2 years) and 10% (2-5 years). One exemption per lifetime. public
Social – Welfare allowance BR1M RM500 extended to 2012.  For household income below RM3k. Singles aged 21 and above earning  not more than RM2k also eligible for RM250. Allocation RM3 billion. 4.3 million low income households and 2.7 million single unmarried individuals
Social – Health Sugar subsidy reduced Sugar subsidy reduced 20 sen effective 29/9/2012. Public, consumer, F&B industries. 
Economy – Tax Tax reduction Reduction of 1% for tax up to RM50k Those with taxable income of up to RM50k, estimated more than 170k taxpayers won’t pay tax.
Transportation, Education School bus School bus operators get rM1000 rebate and 2% interest rate subsidy to buy new bus. School bus operators
Transportation, Education insurance School children who travel in school bus with permits School children
Education Welfare assistance Text book, meals, food supplement etc. costing RM2.6 billion Low income family school children
Education finance One-off RM100 for every school children continued. RM540 million 540k school children
Higher education finance Book voucher increased to RM250 for IPT and pre-u students. RM325 million allocation 1.3 million pre-u and IPT students
Higher education taxation Tax relief for children higher education increased from RM4k to RM6k beginning 2013 public
Higher education taxation Tax relief for SSPN increased from RM3k to RM6k. public
Higher education financing Discount 20% on full PTPTN settlement and 10% discount per annum for those with consistent repayment record, effective 1/10/2012 PTPTN loan recipients
ICT Internet Centre 100 centers in next 3 years. RM150 million via SKMM public

 In summary, the budget is able to cover certain industries, and also quite a large number of population.

  • Plenty of goodies for youths and senior citizens.
  • There’s no increase in tobacco or alcohol tax, which is surprising since there’s reduction on sugar subsidy on basis of health.
  • The provision of rebate for smartphone is quite unusual, perhaps 1st in the world
  • There’s not much in terms of increasing public transport other than expansion of RapidKL. Maybe the LRT and MRT projects are deemed sufficient. Perhaps could have covered taxi and more buses issues.
  • No increase in health insurance coverage
  • The rebate for broadband fees is not extended beyond 2012.
  • Nothing offered on automobile segment, so looks like have to wait longer
  • Big focus on agriculture, but not sure if it would be enough as capital and operational expenses are quite high.
  • Police and military folks get plenty of good news.
  • Chinese community may be wondering what’s in for them other than the allocation for schools.
  • (Un)Surprising that RM1 billion offered for  bumiputra and another RM1 billion for all. A small amount of RM50 million for Indian community.
  • Middle income families would be getting some tax relief (especially if have children in college/uni), but nothing specific or direct in other areas.
  • the focus on SME is maintained, as a possible avenue for low and middle income folks to pursue.
  • its a pleasant surprise that income tax is reduced for up to RM50,000 taxable income. I personally thought there won’t be any reduction. However this may mean 2014 will see implementation of GST.
  • RPGT is increased to 15% if sell property in 2 years, but it may not deter when profit is as much as 30% for some properties.
  • Security concerns are being addressed, and hopefully the new intake for PDRM will see a more balanced racial population.
  • in terms of short term benefits, the budget is well presented. In terms of long term benefits, its a challenge and impact will be known after few years.

 

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Apply for Skim Amanah Rakyat SARA 1Malaysia

February 1st, 2012
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First, some introduction:

Skim Amanah Rakyat 1Malaysia (SARA 1Malaysia) is a special Scheme initiated by the Government of Malaysia aimed at promoting the participation of the low-income group to save and invest; apart from to assist them in managing the impact of the rising current cost of living.

The Scheme will be implemented in collaboration with Permodalan Nasional Berhad (PNB) and selected financial institutions.

Through this Scheme, eligible Malaysians will have the opportunity to apply for a RM5,000 loan from participating financial institution to invest in Amanah Saham 1Malaysia (AS 1Malaysia) managed by Amanah Saham Nasional Berhad (ASNB), and will receive attractive incentive payments on their savings and investments.

About the loan:

  • The loan amount is RM5,000 per household.
  • The loan is for the purchase of 5,000 Amanah Saham 1Malaysia (AS 1Malaysia)I units.
  • Participation will be opened for one year starting from 30 January 2012* or upon full subscription of the total allocation, whichever is earlier.
  • Participation will be disqualified in the event of:
  1. The participant misses three consecutive monthly payments;
  2. The participant provided false information during application;
  3. The participant is declared a bankrupt; or
  4. The participant dies.

NOTE: there was supposed to be a cash based investment as well (meaning you don’t need to apply for the loan), but latest statement in BERNAMA says only loan-based application will be accepted.

So, what are the benefits?:

If you use your savings to invest, you will get a fixed dividend of RM134 monthly. But, if you choose to reinvest the dividend every month, you will receive RM13,000 at the end of the programme’s five-year lifespan. [but since you can’t use cash, so I’m not sure how this will work as nothing is mentioned on the official website].

If you take the loan, repayment is RM84 monthly, leaving RM50 to reinvest and a RM10,000 payout in five years.

Also, surprising to see quota in the allocation. If your aim is to help poor people, why have quota based on race?

1. Are you eligible? Check this out:

  1. Malaysians aged between 18 and 58 years old
  2. Gross household income of between RM500 and RM3,000
  3. Applicants must not be declared bankrupt throughout the loan funding period
  4. Any other terms set by the banks
  5. Applicants and / or spouse must not be a participant or beneficiary of any ASNB-related Government programme:
    • Program Pembangunan Rakyat Termiskin;
    • ASB Sejahtera; and
    • ASW2020-Bandar
  6. Applicants and / or spouse do not have any investments in ASNB unit trust products OR applicants and/or spouse(s) (household) have a combined aggregate investment of less than RM10,000 in all ASNB products
  7. All-clear status for ASNB unit trust account
  8. Application is subject to the distribution of Amanah Saham 1Malaysia (AS 1Malaysia)I as stipulated and availability:
    • Bumiputera – 50%;
    • Chinese – 30%;
    • Indian – 15%; and
    • Others – 5%
  9. Only one member of the household is eligible to obtain the loan funding
  10. Application is approved for a loan at one bank

DEFINITION OF HOUSEHOLD
Eligible household refers to individuals with gross household monthly income of between RM500 and RM3,000 including the following categories:

  • Married – a combination of gross income of the husband and wife; and
  • Single mothers or fathers – individual gross income.

2. Fill up the Application Form

So, you are qualified? Then get the form: http://www.sara1malaysia.com.my/Borang_SARA1M.pdf

3. What documents to prepare and bring? Prepare the following:

Main Documents

  • Application form to participate in Skim Amanah Rakyat 1Malaysia (BPPSARA1M)
  • Loan Form from the participating financial institutions
  • Registration form of Unit Amanah Akaun Dewasa ASNB P1
  • Additional Investment Form ASNB 21
  • Redemption Form ASNB 31
  • Investment Book Renewal Form BS3
  • Risk Disclosure Statement (RDS)

Supporting Documents

  • Original and 2 copies of Mykad of applicants
  • Original and 1 copy of Mykad of spouses (if applicable)
  • Certified Income document
    • For applicants and/or spouses, please provide original and copies of the latest three months’ Pay Slips or Bank Statements.
    • For applicants who do not have Pay Slip or Bank Statement, the income declaration stated in BPPSARA1M Part C will be applicable.

     

    * BPPSARA1M MUST be signed before a WITNESS – either the Employer/Penghulu/Official at the Department of Orang Asli Development/Government Official in a Managerial Position /Member of State Legislative Assembly/ Member of Parliament

4. Where to go to apply? 

Go to any branches of the following banks: Maybank, RHB, CIMB, BSN. If your application is approved, the bank will inform you.

5. Got questions? Contact them! :

Special Project Unit – SARA 1Malaysia
28th Floor, Menara PNB
201-A Jalan Tun Razak
50400 Kuala Lumpur

Tel: 03-2057 3065
Fax: 03-2050 5140

Email: saracare@sara1malaysia.com.my
Website: http://www.sara1malaysia.com.my

HOTLINE from 9 a.m. to 5 p.m.
Monday to Friday (excluding public holidays)

reference: http://www.sara1malaysia.com.my/n_index.php

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