Latest News In August 2022

Covid-19 Second Booster is Opened for Individual Age Above 50

• Earlier, Health Minister Khairy Jamaluddin said that healthy individuals who aged 50 to 59 years old can now get their second Covid-19 vaccine booster dose.

• Eligible Individuals can now book their appointment via the latest version of MySejahtera APP.

Stamp Duty Exemption for First-Time Homeowners.

• Prime Minister announced that first-time homeowners can enjoy stamp duty exemption on the instrument of transfer and loan agreement under the Keluarga Malaysia Home Ownership Initiative (i-MILIKI).

• Houses which valued at RM500,000 and below will get 100% exemption while houses which valued between RM500,000 to RM1 million will get a 50% exemption.

Car Prices Will Increase as New Malaysia Excise Duty Regulations Introduced for 2023

• According to the Malaysian Automotive Association (MAA), the price of locally assembled completely-knocked-down (CKD) cars is expected to increase by 8% to 20% next year as the government intends to apply the new open market value (OMV) excise duty calculation method.

Ambank Is Offering A Fixed Deposit Offer of 3.20%p.a.

• Ambank has announced a fixed deposit offer of 3.20% p.a. for individuals who are going to place a 12-month time deposit before 31.08.2022.

• Take note that:
  1. The minimum deposit amount is RM10,000 and it is only limited to Fresh Funds only.
  2. Users have to transfer the deposit amount from other banks via the AmOnline online platform via FPX.
  3. Users have to enter the promotional code, BEST12 when depositing their fixed deposits in order to enjoy the 3.20%p.a. preferential interest rate.

Maybank Implements “Split Tier” Interest Calculation Method

• Maybank will implement the split-tier method, a new way of calculating interest rates, profit and dividend rates for its saving and investment products, starting from 1 August 2022.

• Under the split-tier method calculation, user’s interest rate will be calculated by splitting their account balance into each tier. For the first RM2,000, the interest rate is 0.05% p.a.; account balance between RM2,000 to RM50,000 will be calculated by 0.65% p.a.; while the balance (over RM50,000) will be calculated by 0.85% p.a..

Hong Leong Bank Card Notification will be Delivered via HLB Connect APP

• According to Hong Leong Bank, all HLB cardholders will get the card notifications via the HLB Connect APP instead of SMS and Email starting from 20 August 2022.

5 Southeast Asian Countries to Link QR Code Payment Systems

• Southeast Asian Countries including Malaysia, Singapore, Thailand, Indonesia and Philippines are involved in the collaboration of linking the QR code payment system to allow seamless transactions for travellers within these countries.

GOinvest: TNG Goal Based Investment with Minimum RM10

• Touch’n Go eWallet introduces a new investment product named GOinvest. Users can now cash in to Principal Islamic Money Market Fund via Touch’n Go eWallet or DuitNow on Touch’n Go eWallet APP. Users will be charged for management fees up to 0.40%p.a. and trustee fees up to 0.02%p.a..

• Special of GOinvest
  1. No maximum capped investment amount
  2. Minimum investment amount should not be less than RM10.
  3. No lock-in period for investment funds.
  4. Users can cash out the money anytime without any charges.

Budget 2023 Will Be Tabled in the Dewan Rakyat on 28 October 2022.

• According to the government, Budget 2023 will be tabled in the Dewan Rakyat on 28 October 2022. The themes of Budget 2023 is “Strengthening Recovery, Facilitating Reforms Towards Sustainable Socio-Economic Resilience of Keluarga Malaysia”

Public Holidays in August

• 24.08.2022 (Wednesday) : Melaka Governor’s Birthday (Melaka)
• 31.08.2022 (Wednesday) : Merdeka Day (National)

Deadline Summary

• 15.08.2022：PCB（July Salary）
• 15.08.2022：SOCSO & EIS （July Salary）
• 15.08.2022：HRDF（July Salary）
• 15.08.2022：EPF（July Salary）
• 15.08.2022：CP204 Payment
• 30.08.2022：Audited report（Company financial year ended January 2022 ）
• 31.08.2022：SST（June 2022 – July 2022 Payment）·
• 31.08.2022：CP204 Submission（Company financial year ended September 2022）
• 31.08.2022：Form C（Company financial year ended December 2021）