Finances

Are you a salary-based employee? Are you earning more than RM3,000 a month? Then, you should know the latest rate of contributions for SOCSO , because your net salary will be lesser and don't be surprised when you receive your paycheck by the end of this month onwards. First of all, what is SOCSO ??? SOCSO was mandated to administer and enforce the Employee Social Security Act 1969 and Employee Social Security General Rules 1971. Through the Act and Regulations, SOCSO is able to provide free medical treatment, a facility for physical or vocational rehabilitation, and financial assistance to employees if they have lost their abilities due to accidents or diseases that have reduced their abilities to work or rendered them incapacitated. If an employee has died, their dependants are provided for financially through pensions. Wait... What's Employment Injury Scheme ??? “Employment Injury” means a personal injury to an employee caused by accident or an occupational disease arising...

Remember this date 23rd June 2016, when the United Kingdom will hold a referendum on its membership in the European Union. From an economic perspective, it is best for UK to remain in EU. Otherwise, unmitigated disaster will happen. Why? Banks are leaving UK ??? Find out all the reasons below: Hampering Trade All the current trade relations with the rest of Europe will be dropped, including the Transatlantic Trade and Investment Partnership (TTIP) with the US. New negotiations were needed and the bargaining power of UK will be shrunk. Reduce Foreign Direct Investment (FDI) Lost of trade partnership means lost of a direct access to the EU countries, resulting a sudden drop of FDIs because investors would likely to focus on countries that have full access to the EU's single market instead of UK only. Falling pound sterling Slumping export and FDI would definitely hamper the UK's economy, thus making its currency lesser demand and weaker. People are less likely to use pound anymo...

The global interest rate has come to a new low in recent years, prompting investors searching for yields which may seem difficult to many of us. In view of this scenario, Affin Hwang rolled out their latest fund to give investors an opportunity to earn higher yield with its defensive strategies while protecting capital. This new fund is designed for Sophisticated investors who seek income through investment in a portfolio of global fixed income instruments, have a medium to long-term investment horizon and have a moderate risk tolerance. What's the strategy of the fund? Since this is an income fund, what's the distribution policy? Subject to the availability of income, the fund aims to distribute income on a quarterly basis, after the end of its first financial year. Please take note that there are 4 classes of the fund for you to choose from... What's the historical performance of the target fund? Key Info of the fund Download the fund's information of memorandum here...

Sometimes, it's just unlucky to receive compounds from DBKL where you missed the parking period by 1 minute for example. However, you should be relieved now with the special compound rate offered by DBKL (Dewan Bandaraya Kuala Lumpur) in 2016. This initiative was being offered ONLY to those meter and traffic offenders before they are being blacklisted under JPJ system soon. Below is the special rate offered on: Click here to check whether you're the lucky one with DBKL compound... However, this was not offered to those cases fall under category below: Blacklisted cases Cases which are already filed in court Compound that falls under Seksyen 53 APJ/JPK 57 moving traffic offences (example ignoring traffic light, cut queue, park at the yellow box... How to settle my compound ??? Make payment at DBKL counters (if you have the original compound or copy from SPJ system) Cash payment via all PosMalaysia branches nationwide (without compound) Online settlement via www.myeg.com Paymen...

If you are a car owner or going to buy a new car, then you should be wary about this new changes by Road Transport Department (JPJ) starting this month June 2016. In an effort to further streamline and broaden the usage of online services, as well as to make the future transaction easier and faster for the public, JPJ determined to change one of the most commonly related services that all of us engaging with. Starting 1 June 2016, anyone who renew their vehicle's road tax, and those performing vehicle ownership transfer will no longer being issued the traditional Registration Card (RC) / Car Certificate (CC), or commonly known as Car Card. Instead, you will be getting an online-based Vehicle Ownership Certificate (VOC). With this new implementation, two of the most commonly asked questions will be: Do I need to show my VOC when renewing road tax? Do I need to show my VOC when transferring car ownership? The answer is NO for both questions because the VOC still contains the details ...