如何申请信用卡才不会被拒绝？5大容易成功的条件因素
- By CompareHero.my
- March 3, 2018
大家是不是常常在商场或者街上看到不一样银行的Sales都在推销着他们的信用卡，就以为申请信用卡是一件很容易的事呢？如果你觉得是的话，那你就错了！ (more…)
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5 Tip Untuk Lulus Permohonan Kad Kredit
- By CompareHero.my
- March 2, 2018
Anda ingin memohon untuk kad kredit? Baca artikel ini untuk ketahui 5 petua untuk meningkatkan peluang permohonan kad kredit anda diluluskan. (more…)
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买贵重物品的4大方法, 不止是可以给Cash罢了!
- By CompareHero.my
- February 19, 2018
每个月除了要给衣，食，住，行，相信大家都还是会遇到要买各种不一样的贵重物品，例如电话，电器，汽车修理，还有医药费。如果大家平时想要让自己的财务可以松动一些，可以考虑这几个方式。 (more…)
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Amanah Saham Bumiputera 2: Investment For Gen-Y In Malaysia?
- By CompareHero.my
- February 14, 2018
The Amanah Saham Bumiputera 2 (ASB 2) was officially launched on 2nd April 2014. Also known as ASB2, the unit trust fund is an extension of a program of the same name originally launched by Permodalan Nasional Berhad (PNB) on 2nd January 1990. PNB manages the fund which stands at a total of 10 billion units.
For the Bahasa Malaysia version of this article click here.
Contents
What is the difference between ASB2 and ASB?
The initiative is especially designed for the Bumiputeras and meant to boost the community’s economy by providing an alternative savings and investment vehicle. ASB’s goal was to offer long-term, competitive, and consistent returns. To achieve this, the fund was designed as a fixed-price equity income fund at RM1.00 per unit, with no sales fees and no charges for unit redemption. It is the same for ASB2, except that ASB was equity and ASB2 is a mixed-type fund. This system ensures that investments never fall below RM1 per unit even if the market is bad.
How To Register For ASB Online & Check Your ASB Balance?
To check your ASB balance online or register for a MyASNB account online, please click here and follow the series of instructions in the video below:
The unit trust fund is part of the five-part Bumiputera Economic Empowerment Agenda. It aims to strengthen the native ethnic group in fields like capital, corporate sector equity ownership, entrepreneurship and commerce as well as in non-financial assets like service delivery and ecosystem.
What Are Two Types Of ASB2 Accounts Available?
- ‘Akaun Bijak’ – is for investors aged 6 months up to 18 years, with the investment cap set at 50,000 units.
- ‘Akaun Dewasa’ – is suited to investors 19 years and older, with a maximum limit of 200,000 units.
ASB is particularly popular with investors because of its low cost and high returns. The funds have never provided returns lower than 8.5% annually. Dividends are computed monthly, based on the minimum amount of the month, and distributed annually. Buying into ASB is possible through authorised agents like banks.
How To Invest In ASB Through Maybank2U?
Maybank, for example, provides ASB investment services through its branches. Its online banking platform, Maybank2U, makes the process even more convenient. Investors need only log in to their bank accounts and use their ASB membership number to purchase additional units for themselves or a third party. Several loans are also available especially for investing in ASB.
Related: How Can Investments Boost My Child’s College Funds?
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Despite all its good intentions and positive qualities though, the initiative still has its fair share of doubters. One of the issues that investors and other stakeholders must grapple with is whether the practice is allowed in Islam. An announcement in 2012 by Muzakarah Jawatankuasa Fatwa declared that ASB, and consequently other investment schemes, are considered “harus”. This means since they are neither prohibited nor encouraged by the teachings of the faith.
PNB’s Shariah panel, meanwhile, ensures that the fund’s investments are within the amount allowable by Islam. ASB also faces opposition from Bukit Bendera MP Zairil Khir Johari, who says that the scheme only benefits rich Bumiputera.
According to Zairil, the bottom 40% (B40) of Bumiputera households earn a mere RM 1,686 a month. Referencing PNB’s annual reports, Zairil noted that three out of four shareholders can only afford an average investment of RM611 per person. This leaves the rich and politically well-connected Bumiputera, who make up the top quartile of the community, free to take advantage of the available units. Zairi says this is completely opposed to the ASB’s apparent goal of providing average Malaysians with the opportunity to invest.
Related: Is Life Insurance A Form Of Investment?
A study by the economist Dr. Muhammed Abdul Khalid supports Zairi’s claim: he found that the accumulated portfolio of the top 0.1% of Bumiputera investors amount to 1,526 times more than the total of the bottom 80%.
Making more ASB units available ostensibly to average Bumiputera, in reality, only benefits the rich and elite because they are the only ones who can afford to heavily invest, and therefore profit, from it. However, despite doubts, the ASB2 is still largely met with optimism because of the excellent track record set by the project’s predecessor.
Related: 7 Investment Lessons You Should Learn From Successful Investors
Disclaimer: Neither CompareHero.my nor the content on it is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. The content on CompareHero.my is for general information purposes only and is not intended to be personalised investment advice or a solicitation for the purchase or sale of securities.
Compargo Malaysia Sdn. Bhd. and/or its affiliates cannot and do not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. CompareHero.my may receive compensation from the brands or services mentioned on this website.
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Credit Card Requirements & Eligibility In Malaysia [INFOGRAPHIC]
- By CompareHero.my
Judging from the number of credit card application kiosks at malls across Malaysia, you would think no credit card application would be denied. Shockingly, there are some who do, and it may well because you did not meet the minimum credit card requirements stipulated by the issuing banks and financial regulatory bodies in Malaysia. If you’re one of these people, here are 5 tips on how to increase the chances of getting your credit card application approved in Malaysia.
Contents
1. Get a copy of your credit report
When assessing your credit card application, your bank will request a copy of your credit report from a credit bureau. One source of credit reports in Malaysia is the Central Credit Reference Information System (CCRIS), which is managed by the Credit Bureau of the Bank Negara Malaysia. Another source you can check your credit history from is the CTOS, one of the leading credit reporting agencies in Malaysia. It helps to make sure that the information on these reports is accurate by requesting for a copy your own, just to be on the safe side.
See also: What Is The Difference Between CCRIS and CTOS?
2. Improve your credit rating
If you find any discrepancy on your credit report, you can contact the Credit Bureau directly to ask for any error to be corrected. Be sure to prepare your supporting documents to prove that you’ve resolved any problem that shows up on your credit report. Since your payment history with companies like utilities and telecoms will also be included in your credit reports, make sure that you’re always on top of your bill payments to avoid any bad reflection on your credit history.
3. Review the minimum annual income requirement
You may be attracted to a credit card that offers 50,000 bonus air miles and immediately apply for it, but remember that almost every credit card in the market has a minimum annual income requirement that you have to meet to be qualified for the application.
There are premium cards that have all the bells and whistles, but these usually have a higher minimum annual income requirement – not to mention higher fees and charges. Gold cards typically have lower minimum income requirements so you may want to apply for these instead and then apply for a premium card later on, as your income grow larger. Most banks would gladly upgrade your card if you have a proven track record as a good paymaster.
4. Review your application form for errors
Sometimes, your application for a credit card gets denied for the simple reason that you made a mistake in your application form. It seems easy enough but you’d be surprised how many people still make mistakes when filling out their personal information! Review all entries carefully, making double checks on your application form before you submit it to the bank, especially if you apply for a credit card online.
5. Build up your work history or become a supplementary cardholder
Banks may also deny credit card applications if they determine that the applicant hasn’t been working long enough. If you’re fresh out of university and haven’t even begun working yet, your bank might hesitate to make you a primary cardholder. Plus, you may also want to ask yourself if you can actually afford to pay for anything you charge on the card.
If you don’t have sufficient employment history but believe that you need a credit card; and if you posses the means to pay for the monthly credit card bill, you may want to ask your parents or older siblings who own a credit card to make you a supplementary cardholder for the present.
Banks take a risk when they extend a credit line to an individual, which is why they’re extra careful about issuing credit cards. Your credit history tells them about your financial standing and whether they can trust you enough to extend you a line of credit.
When you think about it, this also works in your favour, because you definitely should not get a credit card if you can’t keep up with your regular expenses as it is. Before you apply for a credit card in Malaysia, make sure you’re financially capable and ready so you avoid falling into unnecessary debt.
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