Anda mungkin sering berhadapan dengan terma kadar faedah rata (flat interest rate) dan juga kadar faedah baki berkurangan (reducing balance rate) sewaktu ingin memohon pinjaman. Namun, adakah anda faham perbezaan antara kedua-dua kadar tersebut?
Tahukah anda bagaimana pengiraan kadar faedah tersebut dilakukan, atau anda hanya berharap kepada bantuan pegawai bank?
Jangan biarkan anda berada dialam kegelapan, terutamanya apabila ia berkaitan isu kewangan. Kami jelaskan perbezaan serta tunjukkan cara pengiraanya di artikel ini untuk bantu anda memahami salah satu aspek kewangan yang penting.
Baca juga: Perbezaan Diantara Kadar Keuntungan dan Kadar Faedah
Kadar faedah rata merupakan satu kadar faedah yang akan kekal nilainya keatas jumlah pinjaman pokok, sepanjang tempoh pinjaman. Ini bermakna, nilai kadar faedah yang dikenakan terhadap pinjaman wang anda sewaktu pinjaman bermula akan berterusan hingga bulan terakhir tempoh pinjaman. Kadar ini biasanya digunakan untuk pinjaman peribadi atau pinjaman sewa beli (untuk kereta).
Formula untuk mengira kadar faedah rata adalah seperti berikut:
(Jumlah Pinjaman Asal x Bilangan Tahun Pinjaman x Kadar Faedah Setahun) ÷ Bilangan Ansuran (bulan) = Faedah Dibayar Setiap Ansuran
(RM 50,000 x 5 x 7%) ÷ 60 = RM 292
Contohnya, jika pinjaman anda berjumlah RM 50,000, dengan kadar faedah rata 7% untuk tempoh 5 tahun, faedah yang dibayar untuk setiap ansuran ialah:
Namun ingat bahawa jumlah ini merupakan faedah untuk setiap bayaran ansuran, tidak kira berapa banyak jumlah yang anda telah bayar untuk pinjaman tersebut. Secara logiknya, jumlah ansuran bulanan anda untuk pinjaman RM 50,000 tersebut ialah lebih kurang RM 833 sebulan (RM 50,000 ÷ 60 bulan). Tetapi, apabila faedah diambil kira (RM 833 + RM 292), anda bakal membayar RM 1,125 sebulan sepanjang tempoh pinjaman anda.
Di akhir tempoh pinjaman tersebut, anda sebenarnya telah membayar kadar faedah sebanyak 35%, menjadikan jumlah keseluruhan bayaran anda sebanyak RM 67,500! Jumlah itu merupakan RM 17,500 lebih dari jumlah yang anda pinjam. Ini merupakan sebab mengapa kadar faedah rata tidak digemari peminjam, kerana tidak kira berapa banyak yang anda telah bayar, kadar faedah tidak berubah.
Kadar faedah berkurangan biasanya digunakan oleh produk seperti pinjaman gadai janji (mortgage loan), overdraf, dan juga kad kredit. Kadar ini biasanya lebih menjadi pilhan berbanding kadar faedah rata. Ini kerana caj faedah yang dikenakan ialah keatas baki pinjaman anda. Untuk lebih jelas, sila rujuk jadual dibawah yang menggunakan jumlah pinjaman dan kadar faedah sama seperti contoh diatas:
Berdasarkan jadual diatas, faedah yang dibayar sekiranya kadar baki berkurangan digunakan lebih rendah, iaitu seiring dengan tempoh pinjaman dan baki pinjaman anda. Seperti yang anda lihat dalam jadual tersebut, walaupun bayaran ansuran anda tidak berubah sepanjang tempoh pinjaman, nilai bayaran untuk faedah dan bayaran pokok adalah berbeza setiap bulan. Ini kerana caj faedah yang dikenakan keatas jumlah pinjaman pokok menjadi semakin rendah kerana setiap bulan anda akan lakukan pembayaran semula, sekaligus mengurangkan jumlah pinjaman pokok.
Jumlah faedah yang dibayar diakhir tempoh pinjaman anda ialah RM 9,404, dengan bayaran keseluruhan RM 59,404. Cara kaedah faedah berkurangan RM8,096 lebih murah berbanding dengan kaedah kadar faedah rata.
Pengiraan untuk kaedah baki berkurangan agak rumit kerana anda perlu mengira kadar untuk setiap bulan, namun ia boleh dirumuskan dengan formula tersebut:
Faedah Dibayar Setiap Ansuran = Kadar Faedah Setiap Ansuran x Jumlah Pinjaman Tertunggak
Walaupun kadar baki berkurangan memberi kelebihan kepada peminjam, tidak banyak pinjaman yang menawarkan pilihan kadar tersebut. Anda juga perlu mengetahui terma-terma lain yang berkaitan dengan pinjaman supaya anda faham dengan jelas tentang kos dan syarat pinjaman tersebut sebelum memohon dan akan membuat pilihan kewangan bijak.
Baca juga: Apakah Perbezaan Antara Hutang Baik Dan Hutang Lapuk?
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Here’s everything you need to know about Chinese New Year 2021, including the top preparation tips and key SOPs. Happy Chinese New Year from CompareHero.my!
Chinese New Year will be visibly different and quiet this year — a common sight for Malaysians during festive periods in most recent times. Ever since the COVID-19 outbreak last year, festive seasons in the country have never been the same for Malaysians.
But as hard as it may seem to celebrate these special occasions moderately and away from loved ones, the high number of COVID-19 cases — still well in the thousands — means that it could be for the best. Last week, the government announced that it would extend the Movement Control Order (MCO) to February 18, releasing a set of guidelines and SOPs for Malaysians to ensure the virus is well-controlled.
Some of the obvious differences for CNY this year are the smaller reunion dinners, limited visits to places of worship, and the absence of festive performances like lion dances. Even though CNY will not be the same, there are still many things you can do to keep the spirits up and ensure that this festive season is equally memorable as those before it.
Of course, not reuniting with friends and family will be hard, but there are ways to celebrate it separately. Besides, choosing to quarantine yourself and limit movement will hopefully, keep your loved ones safe from the risk of exposure to the virus.
To help ease your CNY planning, we’ve prepared a guide on how to celebrate CNY in today’s new normal.
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Some familiar faces may be absent in this year’s reunion dinner, but don’t worry – because you can still connect with them digitally!
Similar to other cultures and traditions in our country, food plays an integral role in the CNY celebrations in Malaysia.
The dinner on CNY eve, also famously known as the reunion dinner, is one of the major traditional events and is significant for the Chinese community. It is widely considered as the most important family gathering for Chinese people and an important aspect of ushering in the New Year.
Traditionally, this large affair involves all members of the family — old and young, male and female, and can be enjoyed at home or at a restaurant. A lot of care and thought are put into the reunion dinner dishes so families may receive blessings for the next year.
However, because of the MCO, reunion dinners will be celebrated differently this year. According to the government’s latest rulings, reunion dinners are permitted to only 15 family members who stay within a 10km radius (without interstate or inter-district travel).
For families who are not able to dine together, there is still a way to make this important custom happen — digitally! Though unconventional, it allows loved ones to enjoy reunion dinner together while apart. You and your loved ones could also sync up (digitally) and order the same reunion feast, and later create a collage of everyone’s dishes to savour the moment.
Related: #CNY2021 – Best Reunion Dinners Below RM50 Per Person
According to Chinese tradition and superstition, homes are cleaned before the start of the New Year to rid the house of bad luck and misfortune. It also opens up the space for good luck to enter one’s life.
But besides upholding traditions and values, cleaning your house before a big festival is necessary because it allows you to organise your home and make sure that all essential items are in place and are easily accessible. Though the CNY celebrations would be more restricted this year, it feels nicer to celebrate in a clean and fresh environment.
From vacuuming under your sofa and behind that heavy cabinet, to emptying the junk drawers and scrubbing your kitchen cabinets and bathroom, there’s plenty to do, so don’t take any shortcuts! If you really think about it, cleaning your home can also be therapeutic — and after all the crazy events we’ve had to go through from last year till now, it may be a good way to unwind.
Arrange your clothing and shoes, reorganise kitchen appliances, and be sure to recycle, donate or discard items that are, as Marie Kondo famously says, “no longer sparks joy in your life.”
Also don’t forget to clean the exterior of your home because the outside is as important as the inside, and you don’t want the exterior of your house to chase luck away!
Finally, don’t sweep away your good luck by cleaning on the first day of the New Year. According to Chinese traditions, absolutely no cleaning can be done during the New Year because it would sweep out any good luck that is already in your home. Get all the cleaning done before the big day!
Related: #CNY2021 – How Much Does It Cost To Celebrate Chinese New Year During The MCO?
Swap those old and dusty curtains with new ones to brighten up the mood.
No festive celebration is ever complete without a great deal of decor!
Though you will most likely be indoors for the most part of CNY, that doesn’t mean you can’t get festive and hyped for the New Year! Decorate your house with red lanterns, ang pao fish, acrylic wallpaper, spring blossoms, and ornaments as a way to usher in the New Year and to keep spirits high.
Seeing how celebrations will be virtual this year, you may want to scout for a nice corner in your house and designate it as the dedicated area for your festive backdrop. This place has got to have good lighting — and superior internet connection— for all your virtual gatherings and catch ups.
We did expect you to have made your decor purchases ahead of time, but if you haven’t, don’t worry! You can DIY these decor elements as long as you have the materials at home.
To avoid the possibility of new community clusters, the government has drawn up a dedicated set of SOPs and guidelines so Malaysians can continue to celebrate CNY but at a safe distance.
Here is the list of SOPs:
(Image source: The Ministry of Health)
Related: 8 Money Tips For Chinese New Year
The State Disaster Management Committee (JPBN) of Sarawak has also released their own set of CNY SOPs. You may find the detailed guidelines on the official website of the Ministry of Local Government and Housing Sarawak.
However, do expect further changes to the Sarawak SOP soon, according to the Sarawak State Government’s latest announcement.
Since house-hopping and visitations are capped within a 10 km radius, this will likely mean that many Malaysians will not be able to celebrate CNY with loved ones or celebrate outside of their homes.
To make up for that, you could instead celebrate CNY at home watching your all-time feel-good TV and movie bops, or go on a Chinese TV or movie marathon. Here are some of our favourites and classics: Shaolin Soccer, Crouching Tiger, Hidden Dragon, Ip Man, Mulan and The Wandering Earth. What’s your favourite?
Don’t have a TV? There are plenty of alternative streaming services (such as Netflix, iflix, Viu and more) to choose from. If you are not sure which service to choose, we recently did an article on the compared streaming packages and its price for you to choose from.
We may be far apart, but we are still close at heart! Though you may not be able to see loved ones this CNY, you can still meet them virtually.
Software companies like Zoom, Microsoft, Google, and Skype, among others, all have video conferencing tools that you can use.
Your choice, however, may depend on how many participants you want per session because different platforms have different offerings. For example, Microsoft Teams, Zoom, and Skype can cater to 250, 100, and 50, members respectively.
A tip we’ve learned throughout the working from home period: test your digital calls before the big day as the less tech-savvy members will find using it a little challenging, and to avoid the typical frustrations that come with video calls.
Expect to see more people use electronic red packets or e-angpows on CNY.
Because of the MCO, mobility restrictions have confined families in a 10km radius area, not even allowing them to cross district and state boundaries to meet loved ones. So it’s not going to be surprising for families to depend on e-angpows this year, especially as the pandemic has intensified our dependency on e-wallets, and as Malaysians learn to be more digitally adept.
According to their press release, Maybank is expecting to see a continued rise in e-angpow adoption this year, and targets a 100% growth in both number and value of e-angpow transactions this CNY. The Bank sees its e-angpow service grow in 2021 as more customers become comfortable with the notion of sending e-angpow to loved ones as part of CNY and the new normal.
The beauty of checklists is that they help keep you organised, and ensures you don’t miss out on any important items. And if you lack self-discipline— let’s be honest, we all do sometimes — it also allows you to be accountable for the tasks that need to be completed.
Create a detailed and comprehensive checklist on all the chores that need to be done ahead of the reunion dinner and CNY. Typically, a simple checklist will include cleaning your kitchen, vacuuming the house, and preparing the meal for the dinner.
We would usually recommend doing a budget sheet as well, but we are sure you have done your CNY shopping way ahead of time and all that’s left to do is to prepare for the big day and to tick items off your checklist.
A simple checklist can consist of the following:
Related: Chinese New Year Ang Pow – What does it mean?
Though celebrating a special occasion away from loved ones is hard, don’t be sad, because there are still many ways to connect digitally.
Let’s keep our heads high and appreciate the many small blessings that are still bestowed upon us every day, like a roof over our heads and food on our table.
Happy Chinese New Year from us!
Reasons you need a driving license in Malaysia; you’re an eager 17 year old wanting to independently drive yourself, or you’re an expat or international student staying in Malaysia long term or you want to start driving for e-hailing companies like Grab. Before you signup with a driving school, this article will help you understand how to get a driving licence in Malaysia, the types of driving licenses and the various fees that are involved.
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There are five different types of driving licences in Malaysia including:
This is the very first licence you will receive once you register with a driving school. LDL holders are only permitted to drive a car which has the ‘L’ plate displayed and the driver must be accompanied by a driving instructor.
LDL can be issued and renewed for a period of 3 to 6 months, up to a maximum period of 2 years from the date the license is issued. Once it has expired, LDL holders will need to restart the entire driving lesson process in order to obtain a renewed LDL. It’s therefore best to ensure that you complete your lessons before the 2 years are up.
Once you have passed all the driving lessons and examinations, and have been certified as a qualified driver by Jabatan Pengangkutan Jalan or Road Transport Department of Malaysia (JPJ), you will be issued with a PDL.
As a new driver, you will be subject to the 10-point KEJARA demerit point system where points will be deducted according to the various types of traffic offences. If you accumulate 10 points within the 2 years of a ‘P’ plate driver, your licence will be revoked. As a new driver, you are required to display the ‘P’ plate at the front and the back of your vehicle.
This is the full-fledged driving licence that you can obtain after the 2-year Probationary Driving Licence period is over. As a CDL driver, you will be subject to the 15-point KEJARA demerit point system that deducts points for traffic offences, leading to your licence being suspended or revoked.
CDL licenses are valid for a 1 year period and expires on your birthday of that year; you can renew it to a maximum of 5 years for each renewal. The renewal fee is RM30 per year (excluding government taxes) and, depending where you renew your driving license, you may be subjected to additional service charges.
To renew your CDL driving license, just visit your nearest POS Malaysia or JPJ branch and bring along your MyKad (or other legal identification documents) and your existing driver’s license. Inform the teller how many years you wish to renew your CDL license for and make your payment. Your new CDL license will be produced on-the-spot.
Though this article will mainly focus on obtaining a driving licence for a car, keep in mind that you can also obtain a special driving licence for commercial purposes including buses and trucks.
This is a licence that allows Malaysian drivers to drive outside of their country. It is especially useful when you’re heading abroad and plan on renting a car. Only CDL holders who are 18 years and above are eligible to apply for an IDP. PDL holders are not eligible.
Now that we’ve covered the 5 common types of driving licences in Malaysia, you should know that there are different classes which specify which type of vehicle you are allowed to ride or drive.
The classes are segregated into motorcycles, cars, trucks, and tractors. Here’s the list:
This article focuses mainly on the Class D (and Class DA) licenses – cars with unloaded weight not exceeding 3500 kg which is the licence type for those wanting to drive a car.
The first licence you will need to obtain is the Learner’s Driving Licence (LDL). To get this process started, you will need to register with a recognised driving institution or school near you. There are over 120 driving schools in Malaysia and a quick Google search, or a browse through this Malaysia driving schools list from JPJ will help you identify the school for you. Registration fees vary from school to school.
Once you have registered with a driving school, you will receive a handbook with 500 questions about driving on the roads in Malaysia. This will also be accompanied by the requirement to attend a five-hour course, where an instructor will go through the basics of driving in Malaysia. This can be completed in a single day and is mostly conducted in Malay, but there is now an English theory course as well.
You will then be required to study the handbook and register yourself to take the computer test, also known as the Highway Code Exam. It covers 50 questions from the handbook and you will need a score of 84% or higher to pass and move on to the next step.
The next step is another 6 hours of theory and practical classes including topics of changing car tires and basic engine care. Only after completing this will you be able to get your LDL and start driving lessons.
Get your LDL from the driving school you have registered with. Once you have obtained your LDL, a driving instructor will be required to coach you on the road. If you are applying for the D licence (manual), you will learn how to drive a manual car and how to change gears with a clutch. Alternatively, you can also opt for the DA class licence (automatic), where you will learn how to drive an automatic transmission vehicle.
Most driving schools require a student to fulfil up to 22 hours of lessons in the car type you have chosen – Manual or Automatic.
See also: 10 Things You Need To Do After A Car Accident
Once the driving instructor is confident that you are capable of completing the road test, they will schedule your test. Your driving test will include a slope test, 3-point turn, reverse parking, parallel parking, and driving on the open road.
Some schools offer a free re-sit of your practical test until you pass, so be sure to review this in your payment structure. It’s handy if you feel you might need this option.
Congratulations! Once you have passed the practical exam, you are on your way to a full-fledged driving licence. All you need to do is ensure that you do not have your licence revoked by demerit points for a total of 2 years. You will also need to display the P plate on the top left windscreen and rear-windscreen of your car. Once the 2-year Probationary period is over, you will be upgraded to a Competent Driving Licence (CDL).
See also: How Much Does It Cost To Get A Driving Licence in Malaysia?
There are quite a few requirements to convert a foreign driving licence to a local one. While we have listed down the requirements, it may be a better idea to just go through the Malaysian process above. We strongly advise people in this category to also double-check with the JPJ or your embassy for confirmation on the details and the documents required. There will be a processing fee of RM20 and you will be required to pay the regular yearly fee (as stated above in the CDL and PDL descriptions), depending on the license class and number of years.
One important note is that only driving licenses from 32 countries are allowed to be converted to a Malaysian driving license. This is based on the Two-Way Agreement between these selected countries and Malaysia. The countries allowed are:
What if your country is not listed? Well, you have no choice but to go through the standard process to applying for a Malaysian driving license.
Arguably one of the largest (behind the dragon) of the 12 animals in the Chinese zodiac, the Ox had a clear chance of winning Jade Emperor’s race, only to be overtaken by the cunning rat, according to a popular interpretation of Chinese ancient mythology.
Despite this, the Ox is still fondly remembered for its selfless act of letting the Rat hop on its back and cross the river — this unselfish act led to the Rat finishing first in the Great Race, while the diligent Ox came in second, followed by other animals — and that, folks, is how the Chinese zodiac began.
The Chinese zodiac is a classification system based on the lunar calendar that assigns an animal and its attributes to each year in a repeated 12-year cycle. This Chinese New Year on 12 February marks the beginning of a cycle with the Year of the Ox.
If you follow Feng Shui readings and are curious about your financial and career fortunes, we break down the Chinese zodiac predictions for 2021 based on insights from Feng Shui masters across the Internet on China Highlights, Way Fengshui Group, and Travel China Guide. Let’s go!
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Though typically associated with less-than-flattering idioms, these long-tailed rodents are highly regarded in the Chinese culture, considered clever, sociable and ambitious, and are the first animals in the 12-year cycle of the Chinese zodiac.
According to one famous Chinese mythology, it was the Rat’s quick-thinking, flexibility, and cunningness that allowed it to successfully cross the river and win Emperor Jade’s Great Race. The small animal managed to jump on the Ox’s back and tricked it into winning first place when it jumped down closer till the end of the race.
Career prediction
Though the Rat isn’t expected to have a stunning year but feng shui masters we found through research are saying that those under this sign will see career fortunes slowly improve this year, and are poised to welcome more opportunities for development.
The Rat will still have to go through moments of confusion and helplessness – albeit temporarily, as the right people will be there to give them pointers. Just remember to work hard and keep your chin up and 2021 could be a time to seize a good opportunity.
Wealth projection
The Rat may not have had the best financial experience in 2020. But financial prospects are expected to vastly improve in 2021, as long as they continue to work hard.
Rats must continue to practice smart money management, especially when arranging income and expenditure. Rats are encouraged to seek investments as an opportunity to grow their money.
Health prognosis
Abundance of more wealth and better career opportunities will contribute to an increase in workload for the Rats, so don’t be surprised if you are busier, but be cautious enough to learn the effects of excessive fatigue.
Thus, Rats need to prepare in advance and arrange work plans reasonably. Be on top of your usual medication, and exercise more when you have free time.
Pay special attention to travel safety when going out, and Rats, remember to abide by the traffic rules, and do not drive when fatigued or drink before driving
Often seen as the faithful friend, the Ox had carried the Rat on its back during the Great Race – only to be tricked by it and finished second in the Great Race.
Oxes are highly valued in Chinese culture because of its role in agriculture and its positive characteristics such as being hard workers in the background, reliable and intelligent.But you don’t mess with an Ox because they have fierce tempers who are always mentally and physically alert.
Career prediction
Oxes can expect to see frequent work changes and may experience difficulties in advancing in their careers this year – due to what has been described as opposition to the Tai Sui evil age star.
To overcome this, Oxes must adjust their mentality quickly and continue to integrate into their new environments. But they should also exercise an abundance of caution in workplace relationships this year to avoid hostile interactions with your colleagues.
2021 will be a great year for the Ox to hone your skills and spruce up your talents. Remember – when luck is not on your side, hard work will make a great substitute.
When encountering difficulties, Oxes are likely to find help from cooperation with people born under the Rooster or Rat zodiac signs.
Wealth prediction
Oxes’ fortunes are expected to experience a slight dip in 2021. Though the price of Bitcoin has surged in recent months, it may not be a good idea for Oxes to venture down this route as they are advised to avoid high-risk investments.
Oxes may be tempted to lavish as they are expected to go big on spending this year, but with the current economic climate, it’s crucial that Oxes try to be thrifty and remind themselves to spend as little as possible.
Health prognosis
Though their health is not at their peak, it’s not at its worst either in 2021.
Oxes are recommended to do a detailed physical examination and to avoid high-risk activities such as rock climbing, parachuting and waterskiing, particularly in the early parts of the year. With the MCO still in full-swing, it’s better to stay at home!
In the second half of the year, Oxes may be struck by negative emotions and would be prone to insomnia. Avoid the negative chi by doing yoga, daily exercises and get more in touch with nature to absorb positive energy.
Brave, cruel, forceful, and terrifying, tigers are the symbol of power and lordliness in Chinese culture. In ancient times, emperors or kings are often compared with the tigers.
People under this sign are natural leaders. They are also adventurous, ambitious and have a strong sense of justice, but can come across as a little arrogant and impetuous.
Though strong willed and extremely short-tempered, people have great respect for them, but sometimes tiger people come into conflict with older people or those in authority. They may also not be the best decision makers.
Career prediction
The overall business situation is stable, but Tigers are expected to push a little more to meet expectations. This year will be a tough one. Tigers who want more opportunities should learn to humble themselves.
Wealth projection
Financially, things will look awfully flat, and money can be easily lost for Tigers. Tigers are advised to save up or financial losses will not just be a possibility but a reality.
Health prognosis
Tigers’ health will remain relatively stable in 2021, but they are also prone to high blood pressure and eye disease. Therefore, Tigers should control their moods, relax, and reduce stress.
For Chinese people, the rabbit represents hope and life for a long time. The moon goddess Chang’e in the Chinese legend has a rabbit as her pet. Some see the Rabbit as the incarnation of the moon goddess per se and it is a symbol of pureness and auspiciousness.
People born in the year of the rabbit are gentle and approachable. Like the tender animal, they have a decent, noble and elegant manner.
They are virtuous, reserved, and have excellent taste. But they are fond of gossip but are tactful and generally kind. They are graceful and seldom lose their temper.
From what we found, they would make good gamblers because they have an uncanny gift of choosing the right thing.
Career prediction
Because of a strong sense of self and thanks to a lot of self-reflection last year, the Rabbits’ 2021 workplace performance is set to be very “eye-catching.”
Wealth projection
Financially, it still remains generally relatively flat, and this year’s income is set to be far less than expected. Rabbits should make better financial decisions this year.
Health prognosis
Rabbits will often feel in an inexplicably low mood, and must pay attention to self-maintenance, otherwise this will easily affect their health.
As the only fictitious creature in the 12 zodiac animals, the Dragon is said to enjoy a very high reputation in Chinese culture. It has long represented auspiciousness and imperial power since ancient times.
In Chinese culture, people even regard themselves as descendants of the Chinese dragon and emperors entitled themselves exclusively as the ‘dragon’.
Dragon is a symbol of authority, dignity, honor, success, luck, and capacity
Similar to the traditions, people born in the year of the dragon are healthy, energetic, excitable, short-tempered, and stubborn. They are also considered the most eccentric of any in the eastern zodiac.
Career prediction
Work life will not be smooth in 2021. Don’t have too high expectations, and learn to be down-to-earth while doing a good job will help in the long run.
Wealth projection
Dragons’ financial projection is more stable. Don’t worry, household expenses will be covered!
Health prognosis
Maintain a good diet and avoid poor health. Get some good sleep and don’t always think of overnight wealth.The best way to avoid any bad luck is to practice more humility.
Generally, snakes have a bad reputation consisting of the meanings such as malevolence, cattiness and mystery.
In many cultures, this animal is considered evil and is associated with the devil. In ancient Chinese traditions, the snake once presented a venerated image and it is one of the earliest totems of Chinese nations. The Chinese dragon also has a snake body. According to our research, in some places in China, people still believe that a snake found in their courtyard can bring good luck.
People born in this year are deep. Though they say little, they possess great wisdom. But they are often considered quite vain, selfish, and a bit stingy. Despite this, they have tremendous sympathy for others and try to help those less fortunate.
They give their best and tend to overdo, mainly because they have doubts about other people’s judgment and prefer to rely on themselves. Passionate and determined, they pursue the things they love with great love and hate to fail.
Career prediction
Snakes’ career performance is quite good this year. Their success can be attributed to work ethic and they are very smart people, hence why they will get a good return as long as they are willing to fight hard.
This year, they will be recognised for their good work, and will see many opportunities for promotion
Wealth projection
Their determination and grit at work will result in double the return. Snakes will also get money from unexpected areas. But money will also go out a lot this year, as they will spend more money on the opposite sex and health.
Health prognosis
Though they are thriving in their careers, their love lives will fail them, and inner negative emotions will inevitably lead to health problems.
In ancient times, horses were the most frequent transport means in ancient society and, according to the Travel China Guide, it is considered as the first of the six most important animals in China.
These strong, powerful and elegant animals are always the representative of heroes and talents in Chinese culture. Warriors and soldiers of ancient times are known to use horses as a mode of transport and in combat.
People born in the year of the Horse share these similar traits of bravery, strong, talented, and independent. According to Chinese culture, the five elements of horse is fire (Huo), symbolising enthusiasm and energy – a trait that can be associated with Horse people who are energetic and enthusiastic in character.
These people are popular, skillful with money, and perceptive, although they sometimes talk too much. But they are known to be impatient and hot-blooded about everything except their daily work.
Career prediction
Slow and steady gets it done. Smooth progress in their careers will see Horses bring in a good income. Spending will still be relatively large, and Horses may find it tempting to spend on meaningless things. Don’t forget to save!
Wealth projection
It will be good career-wise. Career opportunities will open up and Horses will see an upward trend in the workplace. But don’t do anything too risky, and think twice before making any decisions
Health prognosis
Though highly likable, they still have a lot of bad habits, and it’s these actions that could compromise their health in 2021.
Goats (or sheep and ram) are among the animals that are liked by most people – they are docile, mellow, and timid.
Their fluffy skin and cuteness often reminds people of beautiful things. In Chinese culture, the sheep is considered auspicious, and it was often used to offer sacrifices and pray for good fortune. It carried value and was used as a form of currency in ancient times, which is why this animal represents wealth and luck.
Those born in the year of the goat are elegant and highly accomplished in the arts. They are shy, pessimistic, and puzzled about life. They are usually deeply religious, and sometimes clumsy in speech, but they are always passionate about what they do and what they believe in.
Career prediction
Expect large changes this year. The goats can expect to see personnel transfers, increased pressure on the job, or more work, and these changes will put a lot of pressure on Goats.
Due to the pandemic, this year was a lonely one for many across the globe, but Goats will feel a higher level of loneliness this year because of trivial problems and quarrels with partners. Without proper communication, there will be a so-called cold war.
Wealth projection
It’s time to save up because Goats’ income will be sharply reduced this year. Besides saving more and being more cautious of finances, Goats must not venture into investments in 2021.
Health prognosis
Health will be relatively stable, but some physical diseases may appear. But, as long as Goats get enough rest, they should soon recover. Goats, read more books or do exercise in to divert your attention.
Clever, lively, and witty, their similarities to humans make them admirable. Many people across many cultures, including the Chinese see highly of Monkeys.
In traditional Chinese culture, the Monkey is considered a mascot to pray for the luck of an official career in ancient times. In some west areas of China, the monkey is believed to be able to protect little babies from evil spirits.
According to Chinese culture, the most famous monkey in China, Monkey King (Sun Wukong) was born from a stone who is intelligent, brave, rebellious, and talented. These personalities are similar to the lively, quick witted, righteous, brave, and humorous traits of people born under this zodiac.
Monkeys are remarkably inventive and original and are natural problem solvers. They are known to succeed in their respective fields and are usually high performers – though they do tend to come across as too agreeable. However, Monkeys are filled with pride, and often look down on others. They have common sense, and have deep desire for knowledge and have excellent memories.
Career prediction
Could 2021 be the year for Monkeys? There is a great opportunity to improve themselves this year. Though most of us are stuck at home nowadays, Monkeys, that have the opportunity to go abroad or study on business, should cherish it, as this could be the potential turning point in their careers.
Wealth projection
Many Feng Shui masters say 2021 will be a remarkably brilliant year for Monkeys, but financial fortunes will still experience big ups and downs.
The first half of the working year will see increased wealth and bonuses, including more money in the form of investments.
However, complex interpersonal relationships may cause monetary loss, which Monkeys must pay more attention to.
Health prognosis
All the hard work and success could mean that Monkeys overlook their health. In addition to trying to relax at work, Monkeys also need to get rid of bad eating habits.
Thanks to their internal clock, Roosters crow because it helps them anticipate sunrise.
Because of their nature, Roosters are – to a degree – the epitome of punctuality. Rosters played a significant role in Chinese traditions; according to Chinese traditions, ancestors had to rely on the crow of a Rooster to wake for work, since alarm clocks were not yet invented. In Chinese culture, chicken also symbolises exorcising evil spirits.
The very capable and talented Roosters enjoy being busy and would go out of their way to enhance their capabilities. Their high spirit and devotion, however, can get the better of them if they fail, causing them to be deeply disappointed by even the slightest failures.
Though a tad eccentric, it is hard to develop a relationship with the Rooster because they always think they are right. Hence why they are frequently loners. Sometimes people can misinterpret them as adventurous, when they are timid. They can be selfish and too outspoken, but are always interesting and can be extremely brave.
Career prediction
Generally, Feng Shui masters are predicting 2021 to be a highly good year for Roosters – career wise.
All the dedication and hardwork will help them get to where they need to be. They are expected to get acknowledgement and support from higher-ups and finally achieve their expected goals.
Wealth projection
Wealth is on the side of the Rooster in 2021. They will encounter many good opportunities this year and obtain high returns too!
Though Roosters are materialistic by nature, they always think about investing money first of all, even while making a lot of money. But because of that, their expenses are relatively large, so 2021 would be a great time to practice self-restrained, especially with the economical instability.
Health prognosis
Although Roosters will be in good physical condition, they still need to be vigilant in terms of health. Avoid engaging in dangerous sports this year, and be kind to others.
Men’s best friend not only understands the human spirit, but is highly loyal to their master, regardless of their background. Some have described those born in the year of the Dog to possess the best traits of human nature.
Regarded in the Chinese culture as an auspicious animal, a dog that appears at your doorstep symbolises the coming of fortune. According to Chinese legend, the invincible God Erlang has a loyal dog partner who helps him capture monsters.
But humans aren’t perfect, people under this zodiac are somewhat selfish, terribly stubborn, and eccentric. They can also be cold emotionally, sometimes distant at parties, and possess incredibly sharp tongues. But they are also natural leaders.
Career prediction
Everyone has ups and downs in their careers, dogs will encounter a lot of challenges in their careers in 2021. They may also find themselves and their work easily misunderstood by others. This has been, as China Highlights states, attributed to their innate characteristics that are naturally silent, and non-confrontational.
Wealth projection
This year, the financial prospects of the Dog are relatively flat. The lack of “financial movements” is associated with their conservative personality that won’t dive into risky endeavours. Dogs should focus on diligence and thrift this year, while waiting for investment opportunities.
Health prognosis
A lot doesn’t seem to be happening to the dog this year, as their health will be average too.
But this year, the dog may be prone to feeling trapped, leading to insomnia. Moreover, the higher pressure at work will cause the Dog to be very depressed and in low spirits.
One way that Dogs can fix that state of mind is to exercise to release the stress of their inner worries.
It may have finished last, but that doesn’t make the pig any less capable. According to Feng Shui masters, as the last sign of the Chinese zodiac, Pig represents wealth and luck from the ancient times.
The pig is also relatively harmless and can bring affluence to others. Its chubby faces and large ears have become objects of adoration for many people.
Unfortunately, the pig generally does have a bad reputation – even in China. Often not regarded as a smart animal who enjoys sleeping and eating – till it becomes fat, activities that accentuates its laziness and clumsiness.
Career prediction
Great news for Pigs. Those under this zodiac are expected to have good career prospects in 2021, and there will be many opportunities to advance and develop at work.
The naturally optimistic and open-minded pigs should practice a strong self-motivated spirit in order to succeed. Persistence and consistency is key to their success in their careers in the next few years.
Wealth projection
Wealth will be okay for Pigs. Nothing big to unfold in 2021, but they will get a good income from their investments. Worried of layoffs this year? Don’t worry your livelihood is intact.
Health prognosis
No better word to describe the Pigs’ health than generally stable.
Higher opportunities at work, more labor and greater pressure will push the Pigs greatly, which will affect their bodies. Pigs should take care of their gastrointestinal problems caused from eating out.
Related: How Much Does It Cost To Celebrate Chinese New Year During The MCO?
Take charge of your finances! Learn what bankruptcy is and how to get help if you think you may be heading towards being declared a bankrupt in Malaysia.
Contents
It is a process where a debtor (a person who owes money to a creditor) is declared bankrupt following a court order known as Adjudication Order from the High Court against him or her. The following criteria applies when declaring a person bankrupt:
However, do take note that government is considering of making amendments to the Bankruptcy Act 1967. The proposed changes are to increase the maximum threshold of RM30,000 to RM50,000 before a person is declared bankrupt. Aside from that, the government is also looking to reduce the number of years before a person who has been declared bankrupt can apply for a court discharged.
Currently, a person declared bankrupt can only do so after 5 years, but the proposed change is to reduce it to 3 years. But there is no confirmation when the changes will take place.
Did you know that you can be declared bankrupt without your knowledge? A person can be declared a bankrupt without their knowledge as per below:
Substituted service is bankruptcy served via an advertisement in a local newspaper or posted on the notice board in court. In such cases a bankrupt may not realize that a bankruptcy proceeding has been initiated against them.
A substituted service is done when an individual cannot be located due to change of address. You can conduct a bankruptcy search to check your status at Malaysia’s Department of Insolvency’s headquarters in Putrajaya for a fee of RM10.
A person can be declared bankrupt through two methods:
By creditor’s petition: this method means a creditor will commence bankruptcy proceedings against an individual by serving them with a bankruptcy notice for debts exceeding RM30,000.
By debtor’s petition: an individual can voluntarily make himself a bankrupt to protect from creditor’s claim which he knows he cannot fulfil. There are no required amount of debt for debtor’s petition to be declared bankrupt. Once submitted, the petition cannot be withdrawn without the permission of the court.
Do note that bankruptcy is a serious matter and should be the last resort for individuals who are having problems with their financial commitments. Find out what happens once an individual is declared a bankrupt below.
Being declared a bankrupt means an individual will have plenty of restrictions imposed upon them. Below are what will happen once a person is declared bankrupt:
1. Appointed A DGI
Once declared a bankrupt, a person will be assigned to the Director General of Insolvency (DGI). The DGI will administer all of the individual’s assets and manage it to repay the outstanding debts. So once declared bankrupt, a person’s assets will all be put under the administration of the DGI.
2. Travel Ban
An individual who has been declared bankrupt will be unable to travel out of the country without written permission from the DGI or before obtaining a court order which allows the individual to travel overseas.
3. Limited Credit Line
Existing bank accounts will be deactivated and a bankrupt will be barred from withdrawing any money from their existing account. Aside from that, a bankrupt is not allowed to spend more than RM1,000 on their credit card or obtain credit more than RM1,000 from any creditor.
4. Assets Taken Away
Once declared a bankrupt, all of the assets of the individual will be managed by the DGI. So for example an individual’s house and cars will be taken over by the DGI who will then manage it by reselling it to repay outstanding debts.
5. Employment Restricted
A bankrupt will not be able to work in certain professions which have restrictions imposed by their professional associations or licensing authorities. Examples of the profession a bankrupt cannot be employed as are:
Aside from that, once declared bankrupt an individual may not act as a director of a company. A bankrupt is also not allowed to own a business or be part of a business ownership, so no entrepreneurship is allowed once an individual has been declared a bankrupt.
Most of the Malaysians who have been declared bankrupt are within the age group of 35-44 years old (35.24%) while 25-34 year olds come second (22.52%). The majority of bankruptcy cases in Malaysia are caused by vehicle purchase loans, resulting from their outstanding car loans. Aside from that, the other reasons given for Malaysian’s being declared bankrupt is other outstanding loans which are housing loans, personal loans and business loans.
A person can also be declared a bankrupt as the result of acting as a guarantor for another party. Banks will approach the debtor first, however if they are unable to recover the amount owed, banks will then approach the individual who acted as the guarantor for the debtor.
Being declared a bankrupt is a hassle and it can take a long time to get your finances back in order to remove yourself from the bankruptcy list. If you feel you may be going down the path of being declared a bankrupt, follow the tips below to learn how you can get help to take charge of your finances.
1. Get Free Professional Help
If you are having problems managing your debts and making repayments for your loans, you can seek help from the Agensi Kaunseling dan Pengurusan Kredit (AKPK). AKPK was set up by Bank Negara Malaysia and provides their services for free. The services they provide are financial counselling and advice, debt management programme and financial education programs.
Related: Manage Your Debts In Malaysia For Free With AKPK
2. Discuss With Your Creditors
If you are unable to make repayments for your loans, renegotiate with the bank. Most banks are open to renegotiating the terms of loans as banks would also want to minimize the tendency of a non-performing loan.
Discuss with the bank and work out a repayment flow which you can afford and the banks are agreeable upon. If you find problems negotiating with your bank, approach AKPK as they can be a mediator through their debt management program.
3. Assess Your Financial Commitments and Assets
Aside from reducing your expenses, consider using your savings to pay off your debts. You should also consider liquidating your investments so you can use the money to reduce your debts and avoid getting yourself declared a bankrupt. If you have multiple assets, consider liquidating that too as it will be better to clear yourself of debts than be declared a bankrupt and have your assets such as your house and vehicles taken away from you.
Lastly, remember that the total monthly repayment on all of your loans and credit card debts should not exceed more than 40% of your net monthly income. Before taking on any financial commitments, make sure you make an informed decision by getting the best rates on any credit lines you take on.
Save
Following the proposed changes to the bankruptcy laws that was made in 2016, it has since come to force since 6 October 2017. Below are the changes to bankruptcy laws in Malaysia which you should know about.
Increase Threshold
Previously, if an individual had debt of RM30,000 or more that person can then be declared bankrupt. However, the threshold has been increased to RM50,000.
Automatic discharge
Before this, a bankrupt individual may only be discharged from bankruptcy status upon making an application to court after that person has been issued a certificate of discharge by the Director General of Insolvency (DGI) after 5 years from the date of the Adjudication Order and Receiving Order of declared a bankrupt.
However, under the amendment, automatic discharge has been introduced. This means a bankrupt individual can get automatic discharge after 3 years from the date of submitting his or her statement of affairs.
“The enforcement of the newly amended bankruptcy law began this year. If they meet our criteria, qualified borrowers will be automatically discharged as bankrupts three years from the date of filing of the Statement of Affairs (Penyata Hal Ehwal” –Datuk Abdul Rahman Putra Taha, Director-general, Malaysia Department of Insolvency
How it works is that, after 3 years from the date of submission of the bankruptcy, a bankrupt person will be automatically discharged provided that the debtor:
Aside from that, from now on creditors can no longer object to the discharge of certain bankrupts as below:
Avoid being a bankrupt with the voluntary arrangement
Under the amended laws, someone at risk of being declared a bankrupt can settle his debt without bankruptcy proceedings with a voluntary agreement under the Insolvency Act 1967.
“As long as they fulfil the payment within the period, we will release their names,” – Datuk Abdul Rahman Putra Taha
With the voluntary arrangement, debtors can negotiate to get their debts restructured to avoid bankruptcy. Debtors must adhere to the agreed sum of contribution paid to the creditors and they must also file their pay and expenses slip statement every six months throughout the three-year period.
Exemption of Social Guarantors from Bankruptcy Proceedings
Unfortunately, among the reasons why Malaysians are declared bankrupt is by being a guarantor. With the amendments made, that can no longer happen. This means creditors (for example banks) will no longer be able to commence any bankruptcy action against social guarantors, i.e. persons who provide, not for profit guarantees for: