Two sen a night at Tune hotels

AirAsia affiliate Tune Hotels.com is offering rooms from as low as two sen per night at its hotels in Penang, Kota Kinabalu, Kuching, Kuala Lumpur and the KLIA-LCCT Airport.

The promotional rates are for stays between Feb 1 and April 30 next year for bookings made between now and May 18.

“The promotion is to extend our appreciation to guests for supporting the Tune Hotels.com brand since it was launched in Kuala Lumpur two years ago,” CEO Mark Lankester said in a statement yesterday.

He said that Tune Hotels.com would be expanding domestically to Johor Baru, Langkawi, Miri and Sandakan; and regionally via franchising and joint venture partnerships to Indonesia, India and China.

“Two regional properties will be opening in the fourth quarter of this year in Kuta and Legian in Bali, Indonesia, with 139 and 170 rooms respectively,” Lankester said.

For further information and bookings, visit http://www.tunehotels.com/ or call 03-7962 5888 from 9am to 9pm on Mondays to Fridays.

Source: The Star

Free WIFI on Penang Rapib buses

Rapid Penang begin a 3 month trial using 2 buses to provide free WIFI access to its pasengers and making it the first public bus company in Malaysia to do so. The service enables passengers to surf the Internet in the bus before arriving at their destinations.

After the three months trial, if response from passengers is good, the facility installed in stages in all of our 180 buses, and also the additional 200 buses which will be delivered by the end of the year

Its chief executive officer Azhar Ahmad said the company was installing the facility in two buses: The first plies the route between Balik Pulau and the Bayan Lepas International Airport, and the second on the Teluk Bahang-Batu Feringgi-Weld Key route.

He said use of the WiFi facility would be free and that the buses would have special stickers for easy identification by passengers.

Source: The Star

Free DECT phone and talk non-stop (sort of)

I always wanted to get a cordless DECT phone but the price is high about RM139 for a good phone and even the China made ones costs around RM89 each. Guess what? Now I am getting it for free coz I just signed up to Telekom Malaysia's special offer for Streamyx users where for RM10 a month, I get to talk TM to TM land line nationwide non-stop and I get to keep a DECT phone for free if I subcribe to the service for 6 months. Otherwise, I pay RM50 if I end the contract before 6 months. After 6 months, you can end the contract without any obligation and you get to keep the cordless DECT phone. It's that wonderful? Call TM's 100 hotline for more info.

So now every month I pay RM60 for the streamyx combo and RM10 for land line talk. I use my hand phone if I want to call another handphone user coz at 30 sen per minute is still steep for me. So my total monthly phone and internet bill is RM70. Fantastic!

Check your bank loan rates

On 24 February 2009, Bank Negara reduced the Overnight Policy Rate (OPR) from 2.5% to 2% to give the public more disposable income. This reduction, in turn, was reflected in the reduction of the BLR from 5.95% to 5.55%.

However, many banks have yet to reduce the monthly loan repayment instalments for facilities where the interest rate is pegged to the base lending rate (BLR).

Banks have the option of either shortening the tenure of the loans and maintaining the monthly loan repayments, or reducing the monthly repayment and maintaining the tenure.

Some banks are waiting for borrowers to write in to request a reduction instead of implementing an auto reduction.

So, the best thing to do is to check with your bank if they have reduced the bank loan rates or not. This could save you a lot of money.

Source: The Star

Income tax return filing due April 30

Argh!.....it's that dreaded time of the year again....getting the receipts and income statement ready...trying to figure out how to fill in the income tax return form. Although I have been filling it every year, I still find it confusing and challenging because my Bahasa Malaysia is not my forte.

I have been doing e-filling ever since it was made available and it is the source of my worst fear of filling tax returns is when I have to hit the "Submit" button and getting an error message!! In trying to provide a secure transaction with digital certification, the IRB's e-filing has become user unfriendly

OK.Enough said. I just want to remind Malaysians readers that we have only one month to complete our income tax returns. The Inland Revenue Board (IRB) has sent out all income tax return forms for the assessment year of 2008. However, those who used the e-Filing system to submit their BE forms for the assessment year of 2007 will not be sent any forms.
Taxpayers who do not have a source of income from businesses and whose income was less than RM20,000 for the assessment year of 2007 would also not receive their BE forms.


Source: The Star

Free WIFI services in Penang!

This is fantastic news! Now I don't have to buy an overpriced cup of coffee or hang around bars and bistro in order to surf the web using the free hotspots provided by the establishments. Now free WIFI comes directly into your home.....if you happen to live within the free hotspots areas.

Yesterday, Penang launched its free WIFI service with initially 26 hotspots making it the first state to have free public WIFI services . Eventually a total of 750 hotdpots will link the majority of the state to the internet and 350 by this year end.

The launchat a local hotel was attended by Penang's Chief Minister Lim Guan Eng, DCM2 Prof Dr. P.Ramasamy and Penang free WIFI Initiative head, Jeff Ooi. The service is provided by REDtone.

Current free hotspots are areas surrounding KOMTAR, Bukit Jambul, Mayang Mall, Chulia Street, Penang Road and Permatang Pauh.

Source: The Star

7 New Rules of Financial Security

I received a CNNmoney.com link from a friend about the 7 new rules of financial security. The article offers 7 old assumptions that probably would have been good advice in the past but today the same assumptions may not hold true in a global economy especially an economy that is unpredictable and on the down turn. I thought it was a good article and I would like to share it with you....informative and thought provoking

For example, in the past, a home owner could expect his house value to appreciate well over the long run. But now, your home no longer can make you rich.... Click on the link below to read further which the article offers insights into risk, cash, human capital, borrowing, housing, diversification and retirement.

Source: CNNmoney.com

Fuel Rebate To End on April 14

The Malaysian government has extended the claim period for another two weeks for which car owners are able to collect their cash rebates from Pos Malaysia. The claim period was supposed to end by March 31.

Eligible vechiles owners are encouraged to renew their road tax and submit their claims at post offices by the deadline. Car owners are entitled to a RM625 rebate while motor cycles owners get RM150 per vechile. The rebate was the goverment's effort to dampen the effect of the risng fuel cost last year.

Selected post offices are open till late and on weekends to help office hour workers to claim their rebates.

For those who have yet to claim their rebate, do it now before the deadline!

Source: The Star

EPF dividend expected to be at 4.5%

Employees Provident Fund's 2008 dividend is expected to be at 4.5%. However, National Union of Bank Employees secretary-general J. Solomon has lashed out at EPF saying that the dividend given is too low considering EPF is a cash rich body. Malaysian Trade Union Congress executive council member A. Sivanathan is expecting more than 5% dividend and this would be a fair amount.

Read more in details in The Sun

Not a very stimulating stimulus package for me

Just when I thought that at least one of that action items in the RM60B stimulus package might be relevant and beneficial to me who has a running housing loan but unfortunately the Inland Revenue Board (IRB) clarified in the media today that the RM10,000 tax deduction for interest on houing loans will be applicable for new properties bought (Sales & Purchase signed) between March 10 2009 and December 31 2009 and not for all housing loans Sob! Sob! (and you are not supposed to rent the property out too)

So after all, the stimulus package is not so directly stimulating for me after all. I think only two actions plans that is relevent to me is the price control on control food items and the tax deduction on my housing loan interests paid. Maybe the control on toll rise may help but for now I do not need to travel on highway that much.

The impact on control food items is minimal to me. I take my food and drinks with less sugar, less oil and less carb anyway (I am trying to stay healthy). The tax deduction on housing loans can really help stretch my ringgit a bit further but with the clarification from IRB that the deduction only applies for new purchases....so now I need to cross off stimulus action#2 as something that can benefit me. Let's not talk about retrenchment benefits for now. This is a benefit which I do not want!

I think that tax deduction should apply for all housing loans. I am paying more than a thousand ringgit per month on housing loan interest alone. The more money I have in my pocket, I may use it to buy some other things I might need thus in a way stimulating the economy, right? The restriction that the benefits only applies to new purchases will only help the developers who at anytome is more cash rich than I am.

So in summary the RM10,000 tax deduction benefits applies to.....
- property purchases berweem March 10 2009 to December 31 2010
- only one property per Malaysian citizen and resident
- Malaysian citizen and must reside in Malaysia only
- Property must not be rented out
- The tax deduction is given for three consecutive years from the first year the housing loan interest is paid and is effective from the year of assessment 2009

Sigh......

Source: The Star

RM67B stimulus package - What's in it for us?

There you have it. Our Deputy Prime Minister Datuk Seri Najib Tun Razak has just tabled a RM60B "mini budget". Well, this package is not mini by itself (accounting to more than 9% of Malaysia's GDP and almost a third of 2009 budget). It's 8 times bigger than the first RM7B stimulus package aimed at helping Malaysia to weather the world economic crisis, the worst economic contraction since the 1930's.

With addition of the stimulus pacakge, Malaysia's GDP gowth is expected to be between -1% to 1%. (doesn't sound good at all, even at best case scenario). So what does all this means to people like us? Well, if I understand corrently (and I highlight the important bits)............

• No increase in necessities food prices like sugar, flour and bread in two years
• No increase in toll in two years
• Tax relief of up to RM10,000 on interest paid on housing loan for three years
• Repair and mantainence of public ammenities to make our living conditoon better and improve the tourist spots
• Government will issue saving bonds to all citizens aged 21 and above, with a minimum investment of RM1,000 and a maximum of RM50,000
• Job training and placement for the unemployed and setup of more job centers. Government will also hire more people to work in various government positions
• To reduce retrenched worker's burden and their increase disposable incomes, the Government proposes that the existing tax exemption of RM6,000 given on retrenchment benefits be increased to RM10,000 for each completed year of service
• Bosses who hire retrenched worker will get double tax benefits up tp RM10,000 deduction per month
• The Government will undertake to finance tuition fees and research grants of up to RM20,000 for every student pursuing a PhD locally and RM10,000 for Masters to encourage self development in higher studies
• Reduced dependence on foreign workers in certain sectors
• A discount of RM5,000 given to car owners, who trade in their cars, must beat least 10 years old, for buying new Proton or Perodua cars. The Government will continue to finance part of the discount
• And added funding for rural development to provide better electricity and water facilities

Read the full speech of DPM DS Najib Tun Razak and what's more in the "mini" budget, click HERE (The Star)

Now, we as good citizens must ensure that 100% of the money is put into good use and not fuel corruption.....

Are You Paying 10,000% Interest Rate on Your Credit Card?

Having a credit card is convenient. You nenver know when you need more money in an instant. To save you from that embarassing moment when you need to pay that bill and only then to fid out that your wallet is as dry as the dessert in terms of that liquid cash

But did you know that having that convenience comes at a cost? More than what you might think. Did you not read that fine print when you applied for a credit card?

The star's managing editor, P.Gunasegaram share his personal experience of having an overdue credit card payment and its cost. He wrote "Let's say you have an outstanding balance on your credit card of say RM100. And you just forgot to pay your bill on time. What do you think your charge will be on an annual basis? Would you believe 10,000%?"

Want to know more? Read all about it HERE

Source: The Star (Business)

Fish Prices Soar 20-30% Due to Shortage of Supply

A shortage of fish has caused prices to soar – all because of a controversial fish container ruling. See my previous blog.

Checks at several wet markets here and in Kuala Lumpur showed that prices of fish had shot up by up to 30%.

Fish distributors and wholesalers increased their cost when The Fisheries Development Authority of Malaysia requires the use of insulated fish containers to transport the fishes.

To make matter worst, these containers are supplied by a single supplier. Most porbably the supply of these insulated boxes are not enough and waiting period is long

For full report, click HERE

Source: The Star

EPF Contributions: To Cut or Not To Cut?

Anita Gabriel, a regular columnist of The Star gives a real insight about the truth on our contributions in the Employee Provident Fund.

Did you know that over two thirds of EPF contributors exhaust their retirement funds in less than 3 years of retirement? Scary, huh? What more if contributors cut their monthly contributions by 3 of a percentagepoints in support of the government's recent effort to stimulate the economy.

In recent weeks, there have been suggestions for cuts in employers’ contribution to EPF to alleviate the burden of rising costs faced by businesses amidst waning demand and the general economic slowdown

So having said that, is EPF the best retirement fund scheme? Some analysts say that today's contribution rates are not enough (to sustain us after retirement) and should be increased. Read about what Anita has to say. Click HERE.

For me, I would like as much money in my EPF as I can get. So I filed an application to revert back to 11% contribution (from 8%). I need every single cent of my EPF savings when I retire.

And as Anita mentioned. Malaysia's population is ageing and I think more family is practising one or two child policy. And just like Japan's current ageing population, I don't think any aged parent can really depend on their children for any financial support and that's why whatever and how much you put into EPF is important.

Source: The Star (Business)

Staying Ahead Financially in Tough Times

Many are still struggling to make ends meet despite recent decreases in the price of petrol. As a matter of fact, Malaysia may be heading towards a full time recession if current global financial situation does not make a change for the better now.

Norzuhaira Ruhanie, a writer for The Edge Daily offers a few tips on staying financially strong in a slowing economy.

1. Review Your Financial Goals
The first thing to do is review your financial goals and decide if you can stick with them or revise certain targets to suit your current needs. “You need to know where you are and where you want to get to. Taking the time to set challenging but realistic goals is vital,” says Rajen Devadason, a Securities Commission-licensed financial planner with MAAKL Mutual Bhd.

He also adds that long-term goals may remain unchanged but personal cash levels should be increased. When looking out for investment opportunities, says Rajen, take advantage of any sharp dips in the equity, bond and property markets to buy great assets that generate cash flow by way of dividends, distributions, coupons and rent. However, it is imperative that the buying is done largely out of current cash flow surpluses and not by depleting capital too quickly, he adds

2. Spend Less, Save More & Look at avenues to increase your take-home income
If cash is king, then you need to bring yourself into a stronger position. Reduce spending, work much harder to generate larger incomes and therefore get significantly larger cash surpluses, build large savings buffers and invest slowly and carefully over the long haul, says Rajen

“Ways to reduce spending could include eliminating consumer debt by paying off all credit card balances and deferring any unnecessary lumpy purchases that are not wealth-generating… like a new car if the old one is still functional,” he says.

The goal, says Rajen, should be to “try and get to the point of being able to save and invest 40% to 50% of your net income, apart from EPF, which is forced savings and which should continue at the maximum allowable rate.“The only way to create investment capital is to spend less than you earn and to carefully allocate your savings toward the emergency buffer, normal savings and well-chosen investments.”

Most Malaysians, says Ng, have been controlling their spending due to hikes in the price of many consumer goods. Look at avenues to increase your take-home income, he adds. “See if you can earn extra income doing what you already doing, but in your own time. If you are a tax consultant, for example, you could ask your boss for a commission if you secure clients outside your working hours.”

3. Have your emergency buffer
Have been putting off building an emergency buffer? While it is always important to have one, uncertain times means it is all the more crucial. The fund, says Rajen, should be between three and six months’ expenses for an employee and six to 12 months for a self-employed individual. “If you don’t have the buffer in place, your savings allocation should go into an emergency fund until it reaches the target size, based on your circumstances.”

To ensure maximum safety, the money should “be kept super safe in bank savings accounts, fixed deposit accounts and money market funds that do not have any bond component,” he adds.

Source: The Edge Daily

Malaysia may face full-blown recession

KUALA LUMPUR: There is a 50% chance Malaysia will fall into a “full-blown” recession this year, said Malaysian Institute of Economic Research (MIER) executive director Prof Datuk Mohamed Ariff Abdul Kareem.

“Technical recession is almost certain. The 1.3% (real gross domestic product (GDP) forecast in January) is considered optimistic. In fact, I think the best-case scenario will be 0.5% growth this year.

“We forecast the first half year will have negative growth but hopefully the second half will show some positive figure, which will give us 0.5% growth,” he said, adding that MIER would review again the GDP as a lot of development has taken place since the last forecast. Speaking after a seminar organised by Rahim & Co, Ariff said Malaysia’s economy might remain sluggish for a long time.

“My fear is that we may be stuck there for sometime. Contraction may not be sharp but long,” he said, adding that it could take three years (2012) before the local economy returned to normalcy.

He expected the fiscal deficit to increase to more than 6% of GDP if the second stimulus package was RM30bil, which is about 4% of GDP. Financing the deficit budget was not a problem as there was a lot of liquidity in the local financial market, which funds 93% of the government deficit.
However, he said it was “not about how much you spend, it is how you spend that matters.”
“It is about confidence and confidence depends on transparency. People want to know where the money comes from and where it’s going. Unfortunately, transparency is low in Malaysia.
“A fiscal package may only cushion impact but cannot neutralise it. But without any stimulus package, it will be worse,” he said. Meanwhile, Ariff projected the ringgit would take at least four years to reach 2.8 against the US dollar, a level which he considered equilibrium.

He said the greenback continued to be artificially strong now because central banks worldwide were continuing to fund the US deficit, and thus increasing the demand for the dollar.
In the meantime, the ringgit would remain weak and volatile, but unlikely to cross 3.8 against the dollar, Ariff said.

Source: The Star

A Home Cooked Gourmet Meal for Two for RM6.35?

What meal can you make for RM6.35? The four cooks put their budgeting skills to the test and came out with 4 unique and simple receipes

- Barley Fuchok (pictured)

- Chilli Lime Prawns with Pineapples in a Skewer

- Lazyguy's Mom Crazy Rice and finally

- Chickpea Pancakes with Spicy Tomato Mash

For the receipes and methods, click HERE (source: The Star)

Guess the amount spent and win a trip to London with Air Asia

Take part in the great Bristish tour contest by guessing how much the contest travellers spent on their trip to London. The entry that comes closest to the amount wins! Stand higher chances of winning (Trip to London for two inclusive of hotel courtesy of Air Asia and British Tourism) when you forward the contest on.

I had a try at guessing Nicholas the camera buff expenditure while in London. I think it's about 420 pounds for his 5D/4N trip. I will try to determine the other travellers cost some other days. I will share what I guessed in updates to this blog later.

Let me know (Share with others) what is your guess for any of the traveller if you are having a go at it. Leave your guesses in the comments, thanks!!

What's great and fun about doing this contest is that I get to learn about cool places to visit all for under 500 pounds for a 5D/4N trip with hotel!

Tip: You need to look-up the clues in the travellers itenery and determine how much the travellers spent but it will be less than 500 British pounds

Click HERE to enter the contest

It pays to keep paying

Should houseowners take advantage of the lower base lending rate (BLR) and enjoy more disposal income with lower monthly home loan repayments? Or should they pay the same amount and complete their loan repayments faster?

Financial planners urge homeowners to opt for the second option if their income level has not been affected by economic downturn.

By shortening the tenure of their loan repayment period, they pay significantly less interest in the long run.

Based on the expected reduced BLR of 0.4% which comes into effect next week, a borrower with a RM200,000 home loan over a tenure of 20 years stands to save more than RM19,000 if he continues to pay the same amount.

On the other hand, he will save only close to RM11,000 if he reduces his monthly payment in keeping with the lower BLR (see chart).

Source: The Star

Cheaper air tickets but pay per use toilets

This is definitely a first and perhaps the wildest and most brilliant idea. In an effort to reduce the price of an airline ticket, Ryanair, Europe's primier budget airline is proposing a pay per wee for the use of the on board toilet. The price? A British pound per wee. How? Just deposit the coin into the toilet coin slot.

So my questions are...what happens if I do not have a pound with me and I really have to go? And what if I need to go for more than a wee? 3 pounds per poo? Let's hope Mr Tony Fernandes doesn't get the same ideas. I certainly hope that Air Asia have more dignity than Ryanair.

Read more. Click on the link below.

Source: The Star

Toll hike deferred till end of the year

PUTRAJAYA: The proposed toll increase for five highways effective from Sunday has been deferred till the end of the year. Works Minister Datuk Seri Mohd Zin Mohamed said the decision was reached at the Cabinet meeting on Friday following negative public reaction over the hike and the current economic situation.

On Thursday. Mohd Zin announced that road users would have to pay a higher toll when using the North-South Expressway (PLUS), the Sprint/Kerinchi/Damansara Link highways, Ampang-Kuala Lumpur Expressway (AKLEH), Sungai Besi Highway and the New Pantai Expressway (NPE).

Source: The Star

Related Stories:
- Toll hike on hold indefinitely (The Star)
- DAP lauds move to put off toll hikes (NST)
- Renegotiate highway contracts, govt urged (NST)

New Toll Rates

Source: The Sun (27 February 2009, Page 1)

Related stories:

- New toll rates may be deferred following public outcry (The Star)

- Groups call for buyouts, new highway deals (The Star)

- MPs say no to toll increase (The Star)

Toll Increase......What The &@#%!

Just when we just received news that the Salak Jaya toll is closed thus benefiting road users RM1.30 each way......then the latest news is that Gomen will increase toll for 5 major higways mostly around KL effective MARCH 1st. The highways are North-South Expressway (Plus), Sprint, Ampang Elevated Highway, Sg Besi Highway, and New Pantai Expressway.

However, the new toll rates have not been decided yet but not beyond end of this week.

I think this will definitely burden the average employees who have to ply these routes to and back from work. I think the timing is real bad. Transport vechiles which use these road will also be not spared and as usual the increase will be passed on to consumers in terms of higher price of goods

Read more from the link below

Source: The Star

Time to Prepare for Your 2008 tax returns

It's that time again. Pretty soon, you will be receiving reminders to file your 2008 tax returns by April. So it is good to know what new tax exemptions for 2008 which will help to stretch your Ringit more. Below are a graphical illustration I extracted from The Star

Fish price likely to be increased

Seems like no good news nowadays. Prices are stil high and now the news is that fish prices are like to be increased due to a new ruling for imported fish to be kept in insulated boxes instead of old plastic boxes. Perhaps the cost of the insulated boxes are more expensive.

The insulated container also ensures that the freshness and quality of the fish are not compromised. The container also had its own anti-bacterial cassette and radio frequency identification device to trace the vessel which transported the fish.The old plastic box did not come with its own lid which required importers to buy wooden boards and might cause food contamination if the wood rots and comes into contact with the fish. The new ruling will take effect from this Sunday

Fisheries Development Authority of Malaysia (LKIM) development department deputy director-general Mohad Khazin Hamzah urges fish importers not to increase fish prices

To read more, click on the link

Source: The Star

Banks to auto reduce monthly loan repayment amounts

Remember in my previous blog, I said that Bank Negara (Malaysia Central Bank) will be reducing its OPR (Overnight Policy Rates)?

As such it will bring about the reduction of the base lending rates and banks will automatically reduce the loan repayment amounts of their customers and this will be completed by the first quarter of this year.

However, borrowers also had the option of maintaining their monthly installment amounts and have a shorter loan repayment period. (this is a good thing!!!. Otherwise you only continue stretching the loan repayment period which is bad for you). Therefore, it is very important to note that borrowers who wish to maintain their current loan repayment amounts need to get in touch with their banks IMMEDIATELY.

The move by all commercial banks to cut instalment amounts follows the request by the Government to help borrowers facing difficult economic times. “Lower monthly loan repayment instalments will allow for more disposable income to be in the hands of the public" says ABM (Association of Banks in Malaysia)

Read more by clicking the link below.

Source: The Star

New Electricity Tariffs Effective 1st March 2009

Just in case you can't read the same print, I attached the domestic rates above

Lower Petrol Price of RM1.70 per litre by June vs current RM1.80?

Kuala Lumpur: The Government planned to set the value of RON95 petrol at RM1.70 when it is introduced in the middle of this year. “We want to give consumers good value for their money. Now you’re paying RM1.70 for RON92, we’re planning to give RM1.70 for RON 95 as well.
“So you get better quality petrol at the same price as RON 92. RON 97 will still be there too, but we haven’t decided on the pricing,” said Domestic Trade and Consumer Affairs Minister Datuk Shahrir Samad

Source: The Star

Get your cash rebates by March 31!

KUALA LUMPUR: The cash rebate system for vehicles under 2,000cc, which was implemented in June last year, will end on March 31, Domestic Trade and Consumer Affairs Minister Datuk Shahrir Samad confirmed.

He said this was because the cash rebate system had completed its one-year cycle, which was the initial plan. “March 31 is the last date. We will end it in March,” he told reporters
The campaign will last until March 1. “Whoever has yet to collect their cash rebates, please do so,” he added.

On the Government’s plans for future subsidies, and if the cash rebate system would be implemented again, Shahrir replied: “I don’t think we’ll be using this method of subsidising again, because I see that Malaysians prefer subsidised pump prices.“They seem to prefer lower pump prices rather than having money given out to them,” he said, adding that about RM5bil would have been disbursed by March.

source: The Star

Bank Negara further cuts OPR by half percentage point

Good news for loan borrowers! Bank Negara (Malaysia's central bank) has further cut the overnight policy rate (OPR) by 50 basis points, or half a percentage point, to 2%....lowest ever! Click n the link to read more about it

Source: The Star

Can You Believe It? Hotel rooms for only USD1.5 cents

Yup, you see it right. USD1.5 cents per room night in major cities in Malaysia (excluding tax, of course). This is part of the promotion Tune Hotels are offering on the plate right now. Open for online booking right now until 2 March.

Worth checking it out. These are new hotels (Penang, KLIA-LCCT and Kuching). The downtown KL hotel and in KK is among the first for Tune Hotels. Looking at the photos, the rooms are pretty good. comfy, clean and kinda luxurious. I managed to find available rooms for USD5 per night (inclusive tax) for a double room (room with a queen size bedding) in Penang. Add another USD1.50 for towels and ammenities and add USD7.50 for air-conditioning (24hrs) credits

I like it coz I am getting more for my money

Check out the Tune Hotel website! http://tunehotels.com/

Nestle lower prices for Milo while other Nestle products have their weights increased

Tuesday February 24, 2009

Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad urges restaurants to lower price of Milo

Nestle had reduced the prices of Milo and Milo UHT promotion packs by between 6.4% and 8.6% from Feb 16. Earlier, Nestle (Malaysia) managing director Sullivan O’Carroll said the new pricing was part of the company’s efforts to reward loyal consumers. Malaysians were the world’s largest consumers of Milo

Other Nestle products like Everyday, Nespray, Nesvita and Maggi will have their weights increased by eight to 12% from March to July this year, in lieu of a price reduction. Maggi products will come with additional packets as well as free Milo UHT drink packets

Read more at http://www.thestar.com.my/news/story.asp?file=/2009/2/24/nation/3333128&sec=nation

RON97 petrol to cost more in July

Source: The Star
http://thestar.com.my/news/story.asp?file=/2009/2/20/nation/20090220193422&sec=nation

PUTRAJAYA: The price of RON97 petrol will be increased, when the Government introduces RON95 to replace RON92 in July, said Domestic Trade and Consumer Affairs Minister Datuk Shahrir Samad. He said this was to encourage consumers to use RON95, which was cheaper compared to RON97.

“The Government intends to subsidise more on RON95, when it is introduced in July to make it the same price as RON92,” he told a press conference here on Friday. He said the price of both RON95 and RON97 petrol would be announced in July. Currently, he said, 80% of petrol users were using RON97. “In fact, RON92 is suitable for most of the vehicles in our country but it is not as popular as RON97. “Our way is to subsidise more for RON95 and reduce the subsidy for RON97 so that more consumers will opt for the former,” he said.

However, he said, the Government had no plan to float the price of RON97 in July. “We will increase the price of RON97 reasonably, when RON95 is introduced but if we use the floating system for RON97, its price will immediately increase by 50 sen,” he said. He said countries like Taiwan, Indonesia and Singapore have been using RON95 without any problems.

Wait! Don't scrap that ole car yet. It's worth RM5,000

Hold your horses. Don't sell that old car for scrap. It might just worth big bucks. The Malaysian Government is proposing a RM5,000 incentive for car owners to discard their old car for a new one (a new Proton, of course). Of course, it did not state what condition your old car should be in. Whether or not Proton will pay big bucks for a broken car, we have yet to see. I think it should be at least in runnig condition.

I question the effectiveness of the program. Come to think about it.....the majority Rakyat who are currently driving the sub RM5K car are the ones that are slightly above the poverty line and here is a program that is offering RM5K for that car and immediately that Rakyat owes the bank RM20K - RM25K coz the cheapest Proton Saga is approx. RM30k. Doesn;t make sense to me.

The benefit will most probably end as an incentive for the ones that are rich enough to upgrade to a new care.

Read more about the news here
http://www.thestar.com.my/news/story.asp?file=/2009/2/23/nation/3326225&sec=nation

Are You Saving Enough?

Malaysians not saving enough, survey reveals
by Hemananthani Sivanandam, The Sun

KUALA LUMPUR: Only two in five Malaysians actually save, fewer than one in three plan and stick to a monthly budget, and 12% do not save anything in an average month.

These were some of the findings in Citi’s Financial Quotient (Fin-Q) 2008 survey, conducted from Oct 15 to 30 and involving 500 online interviews. Each of the respondents was asked 40 questions to determine the level of understanding among Malaysians about their personal finance and financial practices.

“We believe a lot more needs to be done to ensure Malaysians are truly fi nancially savvy as the detailed survey results revealed there is room for improvement. There needs to be more discipline and prioritisation,” Timothy Johnson, Citibank Berhad’s head of segment and marketing, retail bank, told a media briefing yesterday.

The survey also found thathe majority of the respondents (62%) reported that they save up to 20% of their monthly income (not including the 11% contribution to the EPF). Asked where their monthly income went, 38% reported that less than 10% of their monthly income was spent
on non-essentials.

In terms of investing habits, about 90% of the respondents indicated they “know exactly” or “had a good idea” of what they would do if given six months salary to invest. However, only 28% reported they had a formal retirement plan developed in consultation with a financial professional. A startling 72% did not have a formal plan.

“Malaysians need to practise what their mind is telling them. They need to realise the need to start saving for their retirement regardless of their age,” said Johnson.

The survey showed that those aged 18 to 29 were the majority who paid off their full outstanding credit card balance on a monthly basis. “It’s a myth that the younger generation are spendthrift. Financial literacy among the younger generation is more apparent these days,” he said.

Johnson said financial literacy was a lifelong process. He believed Malaysians should talk to financial planners to help them become financially savvy. “The perception that financial planners are only for the rich is wrong. They are accessible to everyone,” he said.

Four “personalities” were revealed in the survey – the 30-something strugglers; the single and secure; the settled and successful; and the “blur budgeter”.

Among the 30-something strugglers (aged 30-39), 62% were not satisfied with their current quality of life. The single and secure group showed that 77% were satisfied with their quality of life. The settled and successful showed that about 80% were satisfied with their quality of life. And the “blur budgeter” group revealed that 49% were not satisfied with their quality of life.

Interestingly, the respondents for the second and third group had a higher percentage of females compared to males, while the fourth had the highest percentage of self-employed respondents (24%).

War of the Pizza Giants

Looks like a price war is brewing in the air.....and this is gonna be good for consumers like us. Pizza Hut Malaysia is offering 2 pizzas for the price of one "Valentine Pair" special (13 Feb - 11 Mar) while Dominos is offering meal packages that works out to about RM10 per person.

check out
http://dominos.com.my/
http://www.pizzahut.com.my/

Metrojaya Mega Sales

Metrojaya's Mega Sales is back again. This time it's from 28 February - 22 March 2009. Discounts up to 70%. Great place to get some bargains. Preview day for card members on 20 February. Free brakfast and support provided for card members

MATTA Fair is Coming to Town (Penang)

MATTA fair is here again offering discounted travel packages. The Penang fair will be held at Queensbay Shopping Mall


Dates: 27 February - 10 March 2009
Time: 10:00am - 10:00pm
Venue: Queensbay Mall, Penang


See you there soon!

48 hours Sale - 20% off to all Air Asia destination

Why wait till later to travel? With our irresistible offer of 20% off to ALL destinations, you definitely want to be traveling more! Fly to exotic Manado, laidback Vientiane, be one with nature in Sandakan, chill in Langkawi and party in Melbourne and London! We have so much to offer, so why wait! Check it out now!

http://www.airasia.com/site/my/en/promotion.jsp?reference=482009

Credit card rates can be lower

"There is room for rates to be lower – considerably lower" says P. Gunasegaram, The Star's managing editor. Read more about his opinions

http://thestar.com.my/news/story.asp?file=/2009/2/17/nation/3283411&sec=nation

Hurry! 19 February - Last Day of Malaysia Airlines Travel Fair

Up To 70% discounts on fairs and no fuel surcharges for domestic flights! Over 50 destinations on offer! Hurry! last day to book today

More on website! Check it out!
http://www.malaysiaairlines.com/my/en/home.aspx

Proton MPV Exora launching this Saturday - 21 February

Great News!. Malaysia carmaker Proton will be launching (for booking) its first MPV named Exora this saturday 21st February probably priced around RM80,000....that's almost half of a Toyota Wish. That's what I call stretching my buck a long mile!

Read more about the Proton Exora launching
http://paultan.org/archives/2009/02/17/proton-exora-the-mpv-proton-will-launch-in/

Related stories:
- Warm response to Exora (The Star)

How Fuel Prices Are Calculated in Malaysia

Next time you fuel up, you wonder how much is the tax man is getting, the dealer's margin and what other cost before it is all added up to the final price at the pump.

Well, Paul Tan has a article which tells you all you want to know about fuel pricing. Read it more at
http://paultan.org/archives/2009/02/15/how-fuel-prices-are-calculated-in-malaysia/

Cheap & Tasty Malay Food

What is better than cheap and tasty food especially Malay Kampong food. Well, Helen Ong recommends the Kuali Kuali Cafe downtown.

Read more here
http://thestar.com.my/metro/story.asp?file=/2009/2/15/sundaymetro/3235798&sec=SundayMetro

What a bummer! G won't cut fuel prices for now

Oh, please God, let the oil price comes down to below 40 per barrel soon........

Monday February 16, 2009
Government won’t cut fuel prices for now

"There will be no further cut in fuel prices for now".
Domestic Trade and Consumer Affairs Ministry secretary-general Datuk Mohd Zain Mohd Dom said the ministry would only consider lowering the price if world prices drops to below US$40 (RM144) per barrel.
Mohd Zain said fuel was currently priced between US$43 and US$44 (RM155 and RM158) per barrel.
“We are monitoring the situation but, so far, I can say there will be no reduction in petrol prices,” he said.

Read more....
http://www.thestar.com.my/news/story.asp?file=/2009/2/16/nation/3276361&sec=nation

Time to Make Full Use of Your 2009 Tax Relief on Books

Do you know that for 2009, you are allowed to file for a max of RM1000 of tax relief as a Malaysian tax payer?

So what are you waiting for? MPH books are organizing a "JIMAT Book Sale" offering up to 50% discounts on books......what a great way to sharpen your skills while getting some savings off the normal retail price. Sale period is from 18 - 22 February 2009

Click here for more information
http://www.mph.com.my/promotions/mphsale.cfm

MPH Malaysia website
http://www.mph.com.my/welcome/welcome.cfm

Further Interest Rate Cut May Be Possible!

Monday February 16, 2009

Ministry feels interest rate reduction not good enough

Ministry secretary-general Datuk Mohd Zain Mohd Dom said he would meet with Bank Negara and financial institutions, possibly this week, to seek a further reduction in credit card interest rates. It was the ministry’s view that the interest rate reduction announced by the Association of Banks on Thursday “was not good enough”. Consumer groups said the reductions were too low, adding that the Tier III reduction of 0.5% was insignificant.
“The total credit card debt is RM23bil, and most of those affected are in Tier III. This is the group which needs help,” said a consumer official

Read more in details below
http://thestar.com.my/news/story.asp?file=/2009/2/16/nation/3276010&sec=nation

Pay Up to 37% Less for McD Meals

Firstly, I would like to declare that I dun work for McD, nor am I promoting McD's nutritional values but I just felt that it would be good to share of what I know where you can save some money just in case you really felt like have a McD meal at the American embassy

McD is offering big savings on breakfast, lunch and dinner meals.



Check out more details on McD meals promotion using the link below
http://www.mcdonalds.com.my/

Saving coupons is available at the outlet's counter or downloaded from its webiste

Banks lower interest rates and penalty for late payment

Great news! Nevertheless, one must still exercise great caution and control over personal spending and live within one’s means

Read more about it. Click the link below
http://www.thestar.com.my/news/story.asp?file=/2009/2/13/nation/3261887&sec=nation

How Would You Like To Win USD2500 worth of Apple & Sony Products?

Here’s a chance for you to win a total of RM 10,000 worth of Sony and Apple products, thanks to an online contest brought to you by Castrol EDGE engine oil. The contest involves 3 easy steps

Click below link for details
http://paultan.org/archives/2009/02/10/castrol-edge-sport-speed-challenge-contest/#more-11848

Hybrid Cars Now Affordable

Honda Malaysia announced today that the new pricing for the Honda Civic Hybrid 1.3L. It now retails at RM129,980 which is a small premium of RM1,180 over the non-Hybrid Civic 2.0S

This is great news and in the right direction if we are serious about reducing global warming and at the same time save on spending petrol comsumption........and some 50% fuel savings....not bad. Now I am getting more bang for my buck.

The Hybrid model comes in two colors. Read more about it here
http://paultan.org/archives/2009/02/10/honda-civic-hybrid-gets-new-price-rm-129980/#more-11859

Lower Petrol Price? Can This Be True?

Let's Wait N See!

Tuesday February 10, 2009
Cut fuel prices further, says MCA
http://www.thestar.com.my/news/story.asp?file=/2009/2/10/nation/3232345&sec=nation

PETALING JAYA: The Malaysian government should further reduce the price of natural gas, electricity and petrol to ease the people’s burden, said MCA information and communication bureau chief Lee Wei Kiat.
In welcoming the recent announcement to reduce electricity tariffs for households and industries by up to 10% next month, Lee said: “We would like to urge the Government to consider further reducing these sources of fuel to further reduce the burden of the middle and lower income groups.”
In a statement. he said MCA would continue to look after the people’s welfare.
“With the effort of MCA Ministers,, the Government has made a good decision which shows that they understand the current hardship faced by the people,” Lee said.
He said the reduction would cut operational costs of industries. Thus, the prices of goods could be reduced to lighten the burden of consumers.

YES! Some things are still FREE

Nothing beat getting FREE, yes FREE air tickets to your dream holidays and I like that a whole lot! But you gotta hurry....booking period 10-15 February (travel period 12 October 2009 - 21 January 2010)

AirAsia’s FREE SEAT is back again! With 500,000 seats up for grabs, fly to Bangkok, Jakarta, Kota Kinabalu, Hong Kong, Macau, Shenzhen, Perth, Melbourne, Hanoi & so much more with absolutely NO Fuel Surcharge!

Check out Air Asia's website.....
http://www.airasia.com/site/my/en/page.jsp?reference=1mfs

Malaysia to lower electricity cost by 7 to 10 percent

Monday, February 9, 2009 10:55 am TWN, AFP
http://www.chinapost.com.tw/business/asia/malaysia/2009/02/09/195309/Malaysia%2Dto.htm

KUALA LUMPUR -- Malaysia will lower electricity tariffs for households and industry by 7-10 percent by the end of the month, said Energy Minister Shaziman Abu Mansor, according to reports Sunday.

Shaziman said his ministry had been in talks with state energy giant Petronas over a reduction, which due to falling oil prices will be implemented earlier than the original plan of mid-2009.
“We are pushing for an early review of the price of gas that Petronas sells to the power sector, in view of the declining prices of crude oil,” he said, according to the New Straits Times.
Electricity tariffs were hiked 24 percent last July due to the higher cost of gas and coal. Rising petrol prices also triggered widespread anger and public demonstrations last year. Shaziman said that some energy-hungry industries such as steel and semi-conductor manufacturing would also be eligible for rebates, and the ministry was studying which sectors would benefit.
“The incentive for electricity should ideally benefit value-added industries, for example business sectors that contribute to the country's economic growth,” he said.
The cabinet will discuss the power price reductions Wednesday, Shaziman said, according to the official news agency Bernama.

Save That Petrol

Prices at the pump has increased from our father's days, so it is even more important to ensure that every litre takes you as far as it can. I have some ideas on how we can save on petrol. Here is what I am doing and I know you can too. It's so easy

Tip 1: Car pool, that's the best way!
You can never go wrong when you can pool. Your travel expenses is reduce by 50% if you only find another person or even your partner to car pool instead of having to drive 2 cars. Of course, some sacrifices need to be taken into considerations like timing of departure and back. But if you can do it, not only you save money but if your partner is also a driver then you can drive to work on alternate days. That way you even get to relax en route. Imagine the savings. If you spend 400 dollars a month on petrol for two cars, you can immediately cut down the fuel expenses by half if both you and your partner car pooled. Thats a savings of 200 dollars a month on fuel only and not counting the saving on maintenance of the other car because you are only driving one cars instead of two

Tip 2: Plan your trip.
- Avoid the rush hour. Even if it means getting up a little bit earlier. Leave the house just before everyone else starts their journey to avoid the rush hour. Sitting in traffic is just a waste of fuel and your time. And when you are crawling, you are just gonna hit the brakes more and that's another petrol waster
- Plan your route. Take to shortest route possible or the route with the least traffic but most important, make sure it is the safest route

Tip 3: Downsize.
I used to drive a 1600 litre engine car but now I am driving a 1300 litre car. That's 300 litre less petrol in however you want to measure it and I still get to where I want to go in the same time. 1300 litres is all I need to zip around town and I am saving the environment by using less petrol resources and emitting less by products like carbon monoxide

Tip 4: Slow Down, man!
It is simple physics! The faster you go, the more drag your car will encounter. Try running in water versus walking. Got it? Furthermore, speeding and coming to a sreetching halt will only waste petrol. Rather, come to a slow halt at the traffic lights or toll booths. Studies shows that driving 50kmph on ordinary roads and 80kmph on highways is the best speed for fuel economy. Fuel efficiency improves by 10-30% if you drive 80kmph instead of 100kmph. That's about 30 dollar for every 1000km travelled

Tip 5: Keep it well oiled!
A poorly maintained vehicle consumes more petrol that a properly maintained car. Here are a few aspects of proper car maintainence:-
- Keep your tyre correctly inflated. Over or under inflated tyres comsumes 3.3% more petrol
- Engines needs to be well lubricated. Less fiction in the piston is better. So ensure you change the engine oil regularly because an oil's lubricating properties dimishes as it is used over time
- Keep the filters clean. Keep the air, petrol and oil filter clean and replace as necessary. Engine needs air and petrol to combust. A clean misture will give better combustion. An clean oil filter will remove the dirt in the engine chambers better so that the engine can operate in an ideal situation (minimal friction)
- Keep your car's moving parts lubricated by regular services and following strictly the serviceing schedule
- Once a while, give your car a polish. It cuts down drag. Believe me, it works! Having said that, if your car has a roof rack, remove it if you do not use it because it only good for creating wind resistances and reduces the aerodynamicity of your car

Tip 6: Keep it light!
Imagine you a cyclist. You use less energy if you bike is made out of the lightest material like alluminium or carbon fibre compared to a bike that is made from steel. Since we are not driving a F1 car, but the priciple of keeping your car's load light is still valid. So remove the clutter in your car boot. Then try not to fill your petrol tank to the max because your car is only gonna carry the load of petrol unnecessary. Think of your car like a rocket ship. All the weight the rocket carries is in the fuel. Balance between convenience of filling up your car with petrol and the unnecessary fuel weight it carries after you fill up

Tip 7: Keep it cool not cold!
Do not abuse the air conditioning . Keep the setting just cool enough for you to drive comfortably. The difference between setting the dial to max or on auto temperature sensing increases fule comsumption by 14%. Roll your window down and turn off the air-condition on cold morning or cool nights will save more petrol if your driving moderately. But if you are travelling on highways, i think it is better to keep the side windows rolled up and let the air ventilation vent open to let outside air to flow in

Tip 8: Don't let your engine idle
Of course, you can't help it if you are stuck at a traffic jam but it your are letting your engine idle while waiting for someone to finish doing the errant is a sure way to burn you money away. It is better to switch the engine off and restarting it later if you are going to wait for a long time. If you stop just idling for 5 minutes a day, you will save 5 dollars a month on petrol

Keep Em Rotated, Balanced and Aligned!

When I got my first car, I used to think that maintaining the car primary only involves the engine which upon the make of the car, you would change the oil and oil filter every 5K or 10K kilometers. I did not think much about the tyres. I would only go to tyre shop only if I had a flat to fix

Then I read the car owners manual and it recommended that the car tyres need to be rotated and serviced every 6K - 8K travelled. So I started to do regular mainatainence on the car tyres. What I experienced was that the tyre lasted about 2x longer. Meaning that I only had to change all the tyres about 70K instead of 40K mileage (in KMs). What happens is that when the tyres get regularly rotated, it wears out more evenly. When I did not rotate nor do the regular maintainence like wheel balancing and alignment, I found that the tyre would wear out more on one side than the other. And when I only replace one of the affected tyre, then the handling feels funky. So you see, it is a vicous cyckle if you do not rotate your tyres

Of course, I drove more sensibly like I do not speed and take a corner that it throwing the car off its center of gravity. Course if you do that, then it will wear out the tyres more along with the bearing and lubrcation. Furthermore, I will ensure enough air pressure in the tyre on my every alternate visit to the petrol station.

So if you can extend the tyre life by 2x then you are saving about 600 dollars every two years or so. The money you saved can be spent on replacing the battery which has about a 2 years life. Replacing the battery every 2 years or less is paramount to avoid your car to be unable to start and leaves you stranded and required you to call the mechanic to the site which will cost you more money

One important thing to note. never compromise safety by buying re-threads although the cost cheaper

Switch off those mains

Did you know that some electrical appliances still draw electricity even though it is switched off (but on stand-by with the little red LED light on)?

I found out this fact while watching National Geographic on global warming. Studies have shown that consumers are paying hundreds of dollars a year for these "vampire loads" which still uses electricity although the appliance is on stand by like TV, Hi-fi, DVD players and satelite reciever sets (or any appliances that can be put on stand-by).

Did you realise that some of these appliances still generates heat while on stand-by? Imagine the amount of electric power it still draws to generate such heat. Next time, feel around the household appliances like the indoor statelite receiver/converter console unit and see if they feel warm. If the do, I bet they are using electrical power unnecessarily and lots of it too to be able to generate that kind of heat.

So, since I saw that program, I switched off the appliances at the mains to avoid the "vampire loads" and I have noticed a reduction in the amount (charges) of my monthly electric bill. I used to pay about 30 something dollars a month. Now I am paying less than 30 dollars. Yeah, I know my electric bill is not much but hey I still manage to save. I will share in my future blogs about my energy saving practices so that you too can have an electric bill as low as mine