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Latest News In May 2024

Posted LnCoadmin

Purchase an electric motorcycle now and receive a RM2,400 rebate! Besides this news, what else is worth paying attention to this month? Let’s take a look together!

The Dividend Rates for KWSP Accounts Will Remain Unchanged!
  • According to the latest news, the CEO of KWSP stated that the introduction of the third account will not immediately impact dividend rates, as its proportion is relatively small and would not significantly affect the overall investment portfolio.
  • The Flexible Account will be launched on May,11 , and allowing members to choose to transfer some or all of their second account deposits.
Installing this solar energy system entitles you to a RM4,000 rebate!
  • It’s actually the Solar for Rakyat Incentive Scheme (SolaRIS) program initiated by the government! The aim is to encourage Malaysian citizens to install solar photovoltaic (PV) systems in their homes!
  • Participating individuals can receive a rebate of RM1,000/kWac, up to a maximum of RM4,000!
  • This program is exclusively available to Malaysian citizens who are first-time participants with Tenaga Nasional Berhad (TNB). Interested individuals can apply from April 1 to December 31, 2024, through the Sustainable Energy Development Authority (SEDA) of Malaysia! Hurry, as rebate quotas are limited!
Purchase an electric motorcycle now and receive a RM2,400 rebate!
  • The government has launched an Electric Motorcycle Use Promotion Scheme to encourage the use of electric motorcycles. Eligible Malaysian citizens can enjoy rebates of up to RM2,400!
  • Applicants can apply online or through authorized dealerships to purchase specified electric motorcycles and avail of the rebate. Applicants need to meet a series of criteria and provide necessary documents, including income proof and a copy of their driver’s license, etc. Successful applicants will receive a QR code, valid for 30 days, which they can use to claim the rebate when purchasing the electric motorcycle.
Touch ‘n Go eWallet has launched a new feature called Security Score!
  • Touch ‘n Go eWallet has introduced the Security Score feature! Users can check the security score of their accounts, with a maximum score of 100%.
  • To view the security score, users need to go to the Profile page in the Touch ‘n Go eWallet app and then click on the Security section. To achieve a 100% security score, users must complete account verification, email verification, device binding, security verification, and obtain the Money-back Guarantee.
Enjoy a 0% foreign exchange conversion fee by using Touch ‘n Go eWallet Visa Card
  • Now, whenever you use the Touch ‘n Go eWallet Visa Card for purchases overseas, you would not have to pay the 1% foreign exchange conversion fee! This card can be directly linked to your Touch ‘n Go eWallet for easy payments and also supports Visa ATM withdrawals and contactless payments worldwide. If you’re interested in this card, you can apply for it with the Touch ‘n Go eWallet app!
BNM set To Reveal the interest rate in May!
  • The recent hot topic of discussion revolves around the BNM interest rates. Based on policy of market trends and U.S. Federal Reserve, it is currently anticipated that the BNM is unlikely to adjust the overnight policy rate (OPR) at the Monetary Policy Committee (MPC) meetings in May, with expectations to remain at 3%.
  • Therefore, the possibility of a reduction in mortgage rates is very low. Fixed deposit rates may also be lowered, so depositors are advised to consider longer-term fixed deposits, as the rates for various banks have already been adjusted downwards!
Public Holiday in May
  • 01.05.2024（Wednesday）：Labour Day（National）
  • 17.05.2024（Friday）：Raja Perlis’ Birthday（Perlis only）
  • 22.05.2024（Wednesday）：Hari Hol Pahang（Pahang only）
  • 22.05.2024（Wednesday）：Wesak Day（National）
  • 23.05.2024（Thursday）：Hari Hol Pahang Holiday（Pahang only）
  • 30.05.2024（Thursday）：Harvest Festival（Labuan & Sabah only）
  • 31.05.2024（Friday）：Harvest Festival Holiday (Labuan & Sabah only）
Important Dates in May
  • 15.05.2024：PCB（April Salary）
  • 15.05.2024：SOCSO & EIS （April Salary）
  • 15.05.2024：HRDC（April Salary）
  • 15.05.2024：EPF（April Salary）
  • 15.05.2024：CP204 payment
  • 15.05.2024：Form BE (e-Filing）
  • 30.05.2024：Audited Report (Company F.Y.E Oct 2023)
  • 30.05.2024：CP500 (Second Payment)
  • 31.05.2024：Form C (Company F.Y.E Sep 2023)
  • 31.05.2024：SST (March – April 2024 payments)