Summary MORATORIUM 6 bulan

(1 April 2020 hingga 30 Sept 2020)

CIMB - Automatik
Ambank - Automatik
Bank Rakyat - Automatik
MBB - Automatik
Public Bank - Automatik
MBSB - Automatik
Agro Bank - Automatik
BSN - Automatik
Bank Islam - Automatik
Bank Mualamat - Automatik
Affin Bank - Automatik
UOB - Automatik
Hong Leong Bank - Automatik
OCBC - Automatik
RHB - Automatik
AKPK - Automatik
HSBC - Automatik
KFH - Automatik
Citibank - Automatik
Alliance Bank - Automatik
Al Rajhi Bank - Automatik
Public Bank - Automatik

Toyota Capital - Automatik
Tan Chong Capital - Automatik
LPPSA - No Info
Aeon Credit - Bukan Institusi Kewangan
Angkasa - Masih Dalam Perbincangan
Parkson Credit - Bayar Seperti Biasa
Sabah Credit - No Info
Chailease Berjaya Credit - No Info
Yayasan Ihsan Rakyat - No Info
Kowaja - No Info
Kowamas - No Info
Petronas - No Info

Amanah Ikhtiar - Tangguh 6 Bulan
Tekun - Automatik Tangguh 6 Bulan Bermula 1 Mac 2020
KOOP - Tangguh 6 Bulan

Coway - No Info
Singer - No Info

Ringkasan berkenaan Auto Loan Moratorium supaya lebih ramai faham dan tidak keliru.

1. Bila ianya bermula?
- 1 April 2020 hingga 1 September 2020 (6 bulan).

2. Jenis loan yang dapat moratorium?
- Pinjaman Perumahan.
- Pinjaman Kenderaan.
- Pinjaman Peribadi.
- Pinjaman Perniagaan.
- Syaratnya, pinjaman tiada tunggakan selama 90 hari.

3. Macam mana nak mohon?
- Automatik, tak perlu pohon, tak perlu hantar borang, tak perlu telefon bank dan sebagainya.

4. Siapa yang layak?
- Semua rakyat Malaysia tidak kira kerja Kerajaan atas Swasta.
- Tak ada konsep gaji jalan tak boleh dapat ke atau gaji tak jalan je boleh dapat ke. Semua layak.

5. Kad Kredit pun dapat penangguhan ke?
- Tidak.
- Bank boleh convert baki hutang kepada pinjaman tetap.
- Faedah maksimum akan menjadi 13% setahun berbanding 18% sebelum ini.

6. Jumlah pinjaman akan bertambah ke?
- Tidak akan bertambah.
- Cuma akan bertambah faedah sebanyak 6 bulan (kerana penangguhan 6 bulan).
- Jangkamasa pinjaman sahaja ditambah 6 bulan.
- Jika sebelum ini pinjaman adalah selama 7 tahun, dia akan jadi 7 tahun DAN 6 bulan.

7. Kalau pinjaman yang bukan melalui Bank contohnya AEON Kredit, pinjaman kenderaan dengan Kedai dan sebagainya?
- Sila berurusan terus dengan pemberi pinjaman kerana mereka bukan institusi Perbankan.

8. Ada kesan tak kat rekod CCRIS dan CTOS?
- Tiada, ia tidak terkesan langsung.

9. Rumah sewa dapat tangguh secara automatik tak?
- Tidak. Tetapi boleh berbincang dengan pemilik untuk diskaun dan kelonggaran kerana secara dasarnya, pemilik pun dapat penangguhan bayaran pinjaman.

10. Bagaimana kalau tak mahu buat penangguhan dan nak bayar macam biasa?
- Hubungi bank dan beritahu mereka.

11. Penangguhan akan kena faedah atau penalti tak?
- Tidak. Anggap sahaja penangguhan ni satu anjakkan ke depan dan 6 bulan ini hanya satu ruang kosong yang anda tak perlu bayar dan tak memberi kesan.

12. Selepas 6 bulan moratorium macam mana?
- Bayar pinjaman seperti biasa.

13. Insurans perubatan, insurans nyawa dapat penangguhan juga tak?
- Tidak termasuk dalam Moratorium.
- Kalau tak bayar, takde perlindungan.

So tak payah dah nak pening2 kepala, kerajaan dah bagi kelonggaran tu. Ambil sahaja, pasal kita x tahu di kemudian hari, disebabkan itulah kerajaan buat kelonggaran begini.

Kemungkinan kita akan menghadapi kegawatan ekonomi yg menggerunkan, simpan duit cash, berjimat cermat mulai sekarang.

Harap ni boleh membantu semua, semoga dapat memberi pencerahan, kongsikan supaya orang tidak lagi tertanya-tanya.

Stimulus Package by Malaysia Government - Malay Language

Summary of the Stimulus Package by Malaysia Government:

One-off Assistance:

1. RM1600 kpd 4 juta isi rumah berpendapatan RM4000 ke bawah.
2. RM1000 kepada 1.1 juta orang yg  berpendapatan antara RM4000-8000
3. RM800 kepada 3 juta individu bujang berpendapatan RM2000 ke bawah
4. RM500 kpd individu bujang berusia 21 tahun ke atas berpendapatan RM 2000-4000
5. RM200 kepada pelajar di IPT
6. Golongan mudah terjejas, warga emas, oku, kanak-kanak, gelandangan akan diberikan makanan, tempat tinggal dll
7. PTPTN ditangguhkan 6 bulan sebelum ini, diberi penangguhan juga kepada PTPK
8. MySalam mendapat RM50 sehari maksima 14 hari, bagi mereka yg dimasukkan ke wad. B40 yang dikuarantin juga akan mendapat yg sama
9. Mereka yang mencarum Skim persaraan swasta- boleh keluarkan pra-persaraan RM1000
10. 6 bulan pengecualian sewa kepada penduduk PPR
11. DBKL juga mengecualikan sewa
12. 6 bulan pengecualian sewa bagi premis milik kerajaan persekutuan
13. Diskaun berperingkat 15-50 peratus utk bil elektrik.
14. Pakej telekomunikasi. Internet percuma bernilai RM600 juta
15. RM500 one off kepada kakitangan kerajaan gred 56 ke bawah
16. RM500 kepada pesara kerajaan
17. Insentif upah
18. RM500 kepada pemandu ehailing
19. Pekerja kontrak pembersihan dan makanan, kerajaan tanggung gaji yg sepatutnya dibayar kontraktor walaupun pekerja tidak hadir bekerja
20. Dana RM4.5 bilion untuk membantu IKS

More initiatives:

• KWSP- khidmat rundingan majikan diperkenalkan
• Levi tabung pembangunan sumber manusia
• Bayaran cukai pendapatan dikecualikan selama 3 bulan kepada PKS
• Moratorium bayaran hutang/pembiayaan oleh bank-bank dilaksanakan bagi tempoh 6 bulan. Juga dipanjangkan moratorium utk pinjaman tekun, MARA bagi IKS
• Sumbangan kewangan sosial kerjasama antara bank-bank Islam dan majlis agama Islam.

What I Learn From the Covid-19 Catastrophe

Covid-19 was announced to the world just before Chinese New Year. At that time, no many people would care much about it as it was happening in Wuhan, China. But as it spread to other countries, many starts to take notice but there are still many that are ignorant about the severity of Covid-19, even up to today.

Below are some lessons that I have learned from this Covid-19 pandemic:

We need to prepare in advance

It never hurts to get ready when everything is still normal. Stocking up non-perishable items even just a little bit won't hurt much. It may take up some space but the relief it brings in a time of disaster is totally worth it.

Emergency Fund

Why stocking up non-perishable items is good, we must also prepare the same financially. This is where an emergency fund comes in. This is especially true for those with irregular incomes. The fund will help to mitigate the time you are not able to generate income. You can read more about Emergency Fund here

Investing precautions

Only invest with Ringgit that you do not need in the coming 5 years. Given how low the shares market has tumble down and with no end in sight, many people would be experiencing financial Armageddon. This is just paper loss until you really sold off the shares. That's when you are experiencing real loss. But if you are investing with Ringgit that you don't need now, you can wait and ride through the storm and be much tougher.

No to "automatic" reduction of EPF Contribution

In case you don't know, there was a stimulus package announced by the interim PM to tackle the Covid-19 pandemic. In the stimulus package announced, one very important announcement was about the reduction of the monthly contribution to our EPF from the current 11% to 7%. The reason given was to help the rakyat to have additional cash to spend during the pandemic and stimulate the economy. But employees who would not want to reduce their contribution can inform their HR or Payroll department.

While the idea is good, I will always opt-out from reducing my contribution to my EPF. The main reason is that the 4% reduction would not make too much of a difference for my monthly expenses but will have a big difference for my retirement fund. Imagine that the 4% would be compound at the rate of 5% for 20 years. Let's take an example. If 4% is RM 100 and we accept the reduction for 6 months, we have RM 600 to compound for 20 years. The RM 600 will grow to become RM 1,591.98. That is an increase of 265.33%.

So, for me, the best thing to do is not to accept the reduction of 4% but to reduce our expenses in all other possible ways. Cook at home instead of eating out or call for delivery. It is many times cheaper. And since you would not be driving around, your petrol cost will be lower too. You may complain that the electricity bill will be higher but as long as you are not using air-con and water heater excessively, you would not have issues of very high bills.

The Bear and the Bull

Yesterday, the Wall Street tumble again and Dow confirmed that a bear market is happening as the financial crisis after the World Health Organization called the coronavirus outbreak a pandemic.

But what is a bear market anyway?

A bear market is when the stock market moves down by at least 20% from recent highs. Interestingly, a bear market is named for the way that the bear attacks its victims. A bear swipes downward during an attack, thus becoming a metaphor for market activity under these conditions.

If the bear market is when the market decline, what is the opposite?

The opposite of a bear market is called a bull market. A bull market is defined by the market going up aggressively over a period of time. As the market starts to rise, there becomes more and more greed in the stock market. More and more people will "invest" into the market, pushing it higher and higher.

So what should I do if there is a bear or bull market?

The most simple answer is to do nothing but to stick to your financial plan. If you are investing in a ringgit cost averaging, continue with it. But if you have been preparing for this bear market, buy the company or companies that you know are good at a discounted price, if any. Technically, a bear market is like the "Sales season" in Malaysia where many, if not all products are being sold at a discount. If you have been doing market research and know a certain company has a solid foundation, you can buy into the company if you think the price is right. In the long run, the market will reach a bottom and start moving up again.

How much is Enough?

In the world today, we are being brainwashed to think that we should have more and more. We should have more things, more money, more social media likes, more food, more gadgets, more of everything.

Success in life is often judged by external indicators like luxury items, popularity, salary, or status items. But, in reality, these external indicators are actually poor guideposts because they are not the real indicator of true wealth, contentment or positive lifestyles. The reality behind the shiny facade is often debt, money worries, stress, poor health, and dysfunctional relationships.

Understanding the reality, we need to reject this acquisition mindset and the consumerism that everyone is being caught up in. Thus, in order to restore balance as we pull back from our lifestyles of excess, we should strive for a more moderate lifestyle and care less about what other people think about us. With this, we may experience greater fulfillment and happiness.

Never enough

The problem with the current society is what we have is never enough. We would want more of everything. Collectively we are better off and have more than any generation before us, but it still isn’t enough. Even when we have everything we need, we are told that we must have better, upgraded versions of our endless possessions.

The race for more is a vicious cycle. The more we buy, the higher our expenses will be. Thus we need to work harder and longer to pay for these expenses, resulting in less time to enjoy life and more stress. Then, we would spend for more goods and services to compensate and make us feel better. And the cycle repeats again and again.

Striving for a more simple life

Instead of running the never-ending race for more, it would be better for us to strive for a more simple and moderate life. 

Life is not about how fast you get to the end. Rather, it is a marathon that we would take time to enjoy the scenery and companionship of your family and friends.

By understanding that more does not mean better is one of the first steps. There are many times that when we take things easy, we would be much happier.

Take a step back and stop everything that you are striving for. Take your time to look into all these goals and activities. Do you really need them or it is just a wants? Would it really make you happier? Does it improve your life by a large margin? Is there something similar that can give you just as much happiness?

Take an example of myself. My dream car when I was young was actually a Honda Civic. But the cost of buying that new car then was about RM 100,000 which is an exorbitant amount of money that I could not afford. So, instead of working endlessly to pay for the installments, I look into other alternatives that are more affordable. In the end, I bought a new 2003 Perodua Kelisa (which I still own until today). This Kelisa is still as good as it used to be and even until now, I am happy with it and have no thought of selling it, even if the one buyer is willing to pay double or triple the current price.