Inovatif

Category: How-Tos

  • FedEx empowers APAC businesses to navigate global trade shifts

    FedEx empowers APAC businesses to navigate global trade shifts

    Federal Express Corporation is helping businesses across Asia Pacific navigate an evolving trade landscape marked by tariff-induced uncertainties and heightened customs complexity. FedEx has been conducting webinars to help its customers stay agile in managing regulatory changes and responding to shifting trade environments. The response to its latest webinar series demonstrates the need for guidance within the business community. Over 6,500 participants registered from across the region.

    The company’s role as experienced trade facilitators gives it a front-row seat to gauge sentiment in the business community:

    • One third (29%) of respondents attending FedEx webinars are not planning on changing their supply chain strategy.
    • More than half (52%) are considering supply chain diversification over the next 12 months to better adapt to global trade uncertainty.
    • A fifth (19%) are actively pursuing such plans.
    • Businesses have identified ongoing tariff uncertainty (41%) and increasing costs (29%) as both the drivers’ and key barriers to supply chain diversification.

    These insights underscore the growing importance of leveraging best practices and the expertise of trade experts to tackle customs challenges and enhance supply chain resilience.

    “Resilience has become a strategic imperative in a trade environment of constant transformation through shifting regulations, changing trade flows, and digital disruption,” said Salil Chari, senior vice president of Marketing & Customer Experience for Asia Pacific at FedEx. “While many are adopting a ‘wait and see’ approach before making major strategic changes, the most future-ready businesses will be those that invest in flexibility, embrace innovation, and rely on trusted partners to stay ahead of change.”

    Best Practices for Seamless Customer Experience Supported by FedEx’s Comprehensive Suite of Services

    Amid ongoing regulatory uncertainty, businesses need to be better equipped to navigate increasing complexity. By leveraging the FedEx comprehensive suite of services, including digital trade tools and tailored solution guides, businesses can minimize delays, avoid unexpected costs and maintain operational efficiencies.

    1.Rely on Expert Guidance

    • Regularly check for expert guidance on tariffs, customs policies, and required documentation through reliable sources like the FedEx U.S. Tariff Hub.
    • Access FedEx Trade Solutions for personalised trade consulting, advisory solutions for immediate challenges, and managed solutions for ongoing compliance and regulatory needs

    2. Gather Essential Information for Seamless Clearance

    • Provide Clear and Accurate Product Descriptions: Include specific details such as material composition, intended use, quantity, and country of manufacture.
    • Use the Correct HS Codes: Ensure the appropriate Harmonized System (HS) codes are included in all shipping documents. Customers can leverage the enhanced HS code feature in FedEx Ship ManagerTM at fedex.com powered by the latest AI technology to improve compliance.
    • Include Manufacturer Identification Code (MID): For certain shipments, particularly textiles and apparel, provide the MID code on both the Air Waybill and commercial invoices to ensure smooth customs clearance.
    • Prepare for Formal Entry Requirements: Ensure the consignee’s Employer Identification Number (EIN) or Social Security Number (SSN) is included for formal entry shipments to avoid delays or returns.

    3. Leverage Tailored Digital Trade Tools

    • Utilise tools such as FedEx Global Trade Manager to estimate duties and taxes, identify applicable tariffs, and access essential trade resources.
    • Take advantage of Electronic Trade Documents to electronically submit data, enabling paperless processing and accelerated customs clearance with reduced delay risks.

    4. Select a Reliable Logistics Expert with a Robust Global Network

    • Customers can leverage the comprehensive FedEx portfolio of day-definite parcel and freight services that balance speed with competitive pricing to support their business growth. With its one-stop solution, designed to handle everything from single packages to large pallet or container shipments.
    • FedEx also continues to invest in infrastructure to support regional trade. In addition to its strong intra-Asia network, the recent launch of a direct Singapore-Anchorage flight improves transit times between Southeast Asia and the U.S., offering faster delivery options for businesses in the region. FedEx also launched a new flight connecting its Asia Pacific Hub in Guangzhou, China to Bangalore, India and onwards to Liege and Paris in Europe in November last year. The flight operates five times per week to enhance intra-Asia and Europe connectivity.

    As global trade dynamics shift, FedEx trade expertise, industry-leading customs clearance capabilities, and game-changing digital solutions, empower its customers to navigate customs complexities with confidence and seize new opportunities.

    To stay informed of the latest tariff policy changes and access FedEx’s latest solutions and support, businesses are encouraged to explore the FedEx U.S. Tariff Hub and contact their local FedEx representative for personalised support.

     

  • Zurich launches travel takaful on ShopeePay

    Zurich launches travel takaful on ShopeePay

    ShopeePay announces its partnership with Zurich General Takaful to launch their first travel takaful plan, Zurich Travel Takaful.

    Meeting a growing demand for Shariah-compliant protections, Zurich Travel Takaful keeps users protected as they embark on their travels, starting from as low as RM3 per day for domestic travel and RM15.99 per day for international travel.

    Catering to short-term and frequent travellers, this is ShopeePay’s first travel protection plan to offer both single and annual trip travel protection plans, keeping users protected for travel all year round.

    Additional Benefits and Zurich Travel Assist

    The takaful offering provides coverage of up to RM300,000 in medical and personal accident benefits throughout user’s travel while providing additional protections and benefits including compensation for:
    ● Travel Cancellation
    ● Travel Delay
    ● Travel Curtailment
    ● Baggage Delay
    ● Double Indemnity
    ● Personal Effects and Travel Documents

    As part of Zurich’s Travel Takaful plan, users will also have access to Zurich’s 24-Hour Travel Assistance hotline to provide support throughout their travels.

    In celebration of the launch of Zurich Travel Takaful on ShopeePay, users can kick off their travel plans with a variety of complimentary discounts, including:
    ● 5% discount on Travel Takaful when travelling in groups of 2-5 pax
    ● 10% discount on Travel Takaful when travelling in groups of 6-10 pax
    ● 15% discount on upgrades to VIP Plans for both single trip and annual plans

    How to subscribe to Zurich Travel Takaful

    Available on the ShopeePay app and also the Shopee app, subscribing to your Zurich Travel Takaful plan can be completed in under just 3 minutes:

    Step 1: Access your ShopeePay App and click on the “Insurance” tab at the bottom left of your home page

    Step 2: Click on Travel and select your plan.

    Step 3: Confirm your details and proceed to check out.

    Breakdown your payments with SPayLater

    Subscribing for a big group, or planning to pace out your protection plan payments? Split your Takaful contributions with SPayLater, the Shariah-compliant credit solution that lets you pay next month, or in instalments ranging from three to 12 months.

    SPayLater is available for all Insurance and Takaful products provided on the ShopeePay and Shopee app.

  • Alibaba Cloud’s new whitepaper shows how AI can power sustainable business transformation

    Alibaba Cloud’s new whitepaper shows how AI can power sustainable business transformation

    A new whitepaper released by Alibaba Cloud, Driving Sustainability with AI: A Guide to Partnering with Technology Service Providers, offers a forward-looking blueprint for how organisations can harness digital infrastructure — particularly AI and cloud computing — to accelerate their sustainable journey.

    Based on insights from the Tech-Driven Sustainability Trends and Index 2024, which surveyed 1,300 business leaders across Asia, Europe, and the Middle East, the report combines industry data, actionable recommendations, and real-world case studies to explore how emerging technologies can close the gap between aspiration and execution.

    The State of Sustainability: Progress, Gaps and Opportunity

    The whitepaper highlights the growing urgency for businesses to act on sustainability, with 80% of surveyed organisations setting green targets. Yet only one-third of these have committed to science-based net-zero goals. Many companies still struggle to move from commitment to impact, citing gaps in technical understanding, measurement tools and concerns about the energy footprint of digital technologies.

    Despite these barriers, a strong majority — 76% — see AI and cloud computing as essential tools to achieve sustainability outcomes. At the same time, 82% say it is critical that these technologies themselves are developed sustainably.

    From Insight to Impact: Green AI in Action

    Alibaba Cloud is helping organisations bridge this gap through platforms like Energy Expert, which uses AI to measure emissions and energy consumption in real time. The platform has already served over 3,000 organisations globally.

    One standout case is its collaboration with Covestro, a polymer material company. Working together, the two helped Chinese beverage brand Nongfu Spring trace the full lifecycle emissions of its recycled water barrels — later repurposed into gel pens – offering supply chain transparency from production to reuse.

    The whitepaper also showcases Alibaba Cloud’s commitment to low-carbon AI innovation. Its open-source Qwen series models are designed for efficiency and accessibility. Japanese AI start-up Lightblue, for example, used Qwen to build a localized high-performance Japanese-language model with lower development costs and energy use.

    Five Strategies to Drive Recommendations for Sustainable Digital Transformation

    The whitepaper identifies five strategic actions that businesses can take to align digital transformation with sustainability outcomes. First, organizations are encouraged to link their adoption of AI and cloud technologies with specific sustainability KPIs—for example, using predictive tools to optimise operations or monitor emissions across supply chains. Second, companies should partner with transparent, green technology providers that publish energy usage and emissions data, operate on renewable energy, and invest in energy-efficient infrastructure. Third, the paper highlights the importance of embedding security into sustainability strategies, noting that cybersecurity concerns remain a key barrier to wider adoption of digital sustainability tools.

    Fourth, it recommends embracing open and trustworthy AI, such as open-source models that reduce costs, improve energy efficiency, and allow for localized applications. Finally, the paper calls for stronger public-private collaboration, with 82% of surveyed executives supporting more active government involvement to accelerate the adoption of sustainable technologies through policy, incentives, and education.

    A Roadmap for Business Leaders

    More than a guide, the whitepaper is a call to action. It emphasizes that sustainability is no longer a nice-to-have but rather a competitive differentiator and a catalyst for growth.

    For companies navigating climate and digital transformation simultaneously, the message is clear: success depends on choosing the right partners, tools, and strategies to deliver measurable progress. With the right foundation, AI and cloud can power a greener, smarter, and more resilient future.

  • TikTok Shop and KPDN introduce #ShopSafe Tips

    TikTok Shop and KPDN introduce #ShopSafe Tips

    TikTok Shop has partnered with the Ministry of Domestic Trade and Cost of Living (KPDN) to spread awareness on #ShopSafe tips for online scam prevention. #ShopSafe is part of a wider online scam awareness initiative by TikTok Shop to empower Malaysians through education.

    YB Datuk Armizan bin Mohd Ali, Minister of KPDN, emphasised, “We are delighted to partner with TikTok Shop to educate Malaysians on best practices when shopping online and to empower them with the right knowledge and tools to #ShopSafe digitally. We have found that a large majority of reported e-commerce scams were conducted outside of legitimate online shopping platforms and apps, where bad actors redirect consumers off-platform to complete transactions, either through phone numbers, suspicious links, or direct debits. TikTok Shop’s dedication to championing the rights and safety of consumers is commendable, and we look forward to combating online scams together.”

    TikTok Shop Malaysia’s Director of Strategic Partnerships, Nur Azre Abdul Aziz, echoed the sentiment: “Safety is our top priority at TikTok Shop. We continuously invest in people and technologies for Malaysians to enjoy worry-free and secure online shopping experiences, such as through our robust 15-Day Free Return and Refund Policies. In the first half of 2024, we proactively rejected 20.4 million attempted product listings and two million seller account registrations globally that did not meet our standards. Combatting online scams is a collaborative effort and we are immensely thankful to KPDN for their support in educating Malaysians on our #ShopSafe tips. Together, we can keep our community informed and up to date on new scam trends, along with ways to safeguard each other against it.”

    The #ShopSafe tips introduced by TikTok Shop and KPDN include:

    1. Avoid Off-Platform Purchases.
    • TikTok Shop users should conduct all online purchases using only the official app to ensure their protection against scams. TikTok Shop strictly enforces its Product Listing Guidelines and Seller Registration Guidelines, which help to prevent violative products and sellers on the platform. Policies such as the Platform Abuse Policy, Anti-Counterfeit Policy, and TikTok Shop Mall’s 100% Authenticity Guarantee, actively detect and minimise any potential fraudulent activities and deceptive behaviours on the platform.
    • Users should ensure that all online transactions are conducted through TikTok Shop’s secure in-app payment gateways. All purchases can then be verified and tracked on the in-app order history, even when opting for Cash-On-Delivery (COD) transactions.
    • Users should not download TikTok’s apps via external links or APK files. Download TikTok’s apps (which are listed ‘by TikTok Pte. Ltd.’) via the official website (https://www.tiktok.com) and platforms, including the Google Play Store and Apple App Store. Be wary of suspicious links and misspelled websites.
    • By adhering to these #ShopSafe tips, users can avoid common scams, such as false advertising, phishing, COD scams, brushing scams, malware, and more

    2. Never Share Sensitive Personal Information With Other People.

    • Users can familiarize themselves with TikTok Shop’s Privacy Policy, which transparently outlines how TikTok Shop protects user data.
    • Users should be vigilant and avoid disclosing sensitive personal information to other people, especially potential scammers pretending to be TikTok Shop employees, authorities, or government officials. TikTok Shop will never ask for users’ sensitive personal information, such as passwords, TACs, and debit/credit card details through direct messaging, phone calls, or emails.
    • As an additional layer of protection, users should activate the 2-step verification feature on the TikTok app, which protects their accounts even when passwords are compromised.
    • With these helpful tips, Malaysians can prevent themselves from falling victim to Macau scams, phone scams, account takeovers, and more.

    3. Report Violative Behaviours In-App.

    • Users are encouraged to directly report violative products, content, and sellers on TikTok Shop via the in-app reporting channel, available on every product display page.
    • Users can also reach out to live agents in-app for enquiries about their TikTok Shop orders, via the Help Center page.
    • TikTok Shop is governed by robust 15-Day Free Return and Refund Policies, which facilitate simplified and fair after-sales requests for customers facing issues with their orders on the platform. TikTok Shop does not tolerate any fraudulent or unlawful activities on its platform.

    For more information on TikTok Shop Malaysia, please visit:

    @tiktokshop_my

  • Tune Protect and Ticket2U unveil ticket refund insurance

    Tune Protect Malaysia (Tune Protect), a leading digital insurer, has partnered with Ticket2U, Malaysia’s premier ticketing platform, to introduce Ticket Refund Insurance for events in Malaysia. The comprehensive plan covers tickets for a wide range of events, including conferences, marathons, runs, concerts, festivals, and sports tournaments, ensuring ticket holders receive a full refund if unforeseen circumstances prevent them from attending. This initiative reinforces Tune Protect’s commitment to delivering customer-centric solutions and enhancing the overall event experience.

    Covering a comprehensive range of unexpected situations, Ticket Refund Insurance protects attendees from disruptions such as medical emergencies, accidental death, home emergencies like fire or burglary, natural disasters, and sudden unemployment, ensuring that ticket buyers are not financially burdened. The coverage also extends to road accidents, vehicle breakdowns on the way to the event, as well as other unforeseen circumstances.

    “The launch of Ticket Refund Insurance is a game-changer for eventgoers, giving them the confidence to book tickets without the fear of the unexpected disrupting their plans. This innovative protection plan reinforces our commitment to making insurance simple, seamless and accessible to everyone. With event attendance on the rise, we are ensuring that customers can fully enjoy their favourite events stress-free, knowing they have a reliable safety net in place,” said Jubin Mehta, Chief Executive Officer, Tune Protect Malaysia.

    “At Ticket2U, we are focused on elevating the ticketing experience, and Ticket Refund Insurance marks a significant step towards setting a new industry standard. This protection gives ticket buyers greater assurance, knowing they are covered if the unexpected happens, while also reinforcing trust between event organisers and attendees. By reducing financial risk and making ticket purchases more secure, we are enhancing confidence in event attendance and supporting a more dynamic, worry-free event experience for all,” said YC Chia, Managing Director, Ticket2U Sdn Bhd

    For sports enthusiasts, Sports PA (Personal Accident Insurance) is available as an optional add-on, providing financial protection for accidental injuries sustained during sports-related events, ensuring peace of mind while staying active.

    Jubin added, “By embedding protection seamlessly into the event ticketing journey, Ticket2U and Tune Protect are setting a new industry standard for consumer protection against unexpected events while enhancing overall customer experience with greater confidence and ease.”

    Available to all Ticket2U customers purchasing event tickets, this insurance is available to a wide range of events, including concerts, sports matches, exhibitions and festivals at only 5% of the ticket price. Purchasing Ticket Refund Insurance is quick and effortless where eventgoers can:

    1. Select an event ticket on Ticket2U.
    2. Opt-in for ‘Ticket Refund Insurance’ at checkout.
    3. Complete the purchase, and coverage is automatically activated.

    The claims process is equally seamless:
    1. Submit a claim directly to Tune Protect with the required documentation.
    2. Claims are processed, and eligible refunds are issued promptly.

    For more information on Ticket Refund Insurance, visit www.ticket2u.com.my and click the “Read More” button on eligible event pages.

  • 4 biggest mistakes drivers make after an accident and how to avoid them

    4 biggest mistakes drivers make after an accident and how to avoid them

    Road accidents continue to be a major concern in Malaysia. Between January and October 2024 alone, Malaysia recorded over 530,000 road accidents, resulting in 5,364 fatalities. If this trend continues, the total number of accidents could surpass the 598,635 accidents reported in 2023.

    Given these alarming statistics, knowing what to do after an accident can make a significant difference. Being prepared helps prevent unnecessary stress, ensures a smoother claims process, and protects your rights.

    On that note, Liberty General Insurance would like to share the four biggest mistakes drivers make after an accident.

    Mistake 1: Failing to Contact Their Insurer First
    Delayed notification makes it difficult to verify accident details and increases the risk of penalties for late reporting to authorities.

    Mistake 2: Engaging Accident Touts / Towing Syndicates / Unscrupulous Middlemen
    Falling for persuasive talk and authorising unethical operators to handle their vehicle which leads to complicated procedures, inflated costs, and substandard repairs.

    Mistake 3: Forgetting to Collect Key Evidence
    Photos of the scene, third-party information, witness details, and vehicle damage are essential but often overlooked in chaos following an accident.

    Mistake 4: Providing Conflicting Statements and Admitting Fault Too Quickly
    In the aftermath of an accident, confusion can lead to inconsistent accounts given to the insurer, police, or medical professionals. These inconsistencies can contribute to guilt or nervousness and often lead drivers to admit faults prematurely.

    The mistakes above can negatively impact your claim, reducing your compensation or even voiding your coverage.

    So, what to do after an accident?

    1. Don’t Panic: Stay calm and contact your insurer immediately for hassle-free roadside assistance services.
    2. Beware of Unauthorised Tow Trucks & Middlemen: Only engage approved towing services to avoid unnecessary complications.
    3. Gather Evidence: Take photos, note details, and collect witness statements.
    4. Opt for Insurer-Approved Repairs: This ensures guaranteed workmanship and warranty for your vehicle.
    5. File a Police Report Promptly: Reporting the accident within 24 hours helps ensure a smooth claims process and prevents potential disputes.

    Managing the Aftermath with Confidence

    Navigating an accident can be overwhelming, but with Liberty General Insurance’s Vehicle Accident Management (VAM), the process becomes much simpler. As part of Liberty’s Motor Claims Service, VAM ensures fast, efficient claims handling—from damage assessment to resolution—so you experience less stress and fewer delays.

    Here’s how Liberty’s claim centre can help simplify the claims process:

    1. Authorised Towing Services: Safe, reliable, and insurer-approved towing to the assessment centre or preferred repairers.
    2. On-the-Spot Damage Assessments for Third-Party Property Damage (TPPD) Claims: Third-party claimants can now bring their vehicles to Liberty’s Vehicle Assessment Center for immediate assessment of damages.
    3. Fast-Tracked Third-Party Claims: Liberty’s experienced loss adjusters will assess damages on-site and determine repair costs without delays. It also reduces waiting time where third-party claims can be attended to immediately.
    4. Instant Windscreen Repairs & Replacements: On-site specialists provide same-day repairs or replacements, as well as quick inspection, documentation, and processing to minimise disruptions.
    5. Expert Repairs: Repairs at insurer-approved workshops with guaranteed workmanship and warranty.
    6. Faster Approvals & Transparent Claims Process: Advanced claim assessment tools help expedite approvals for various motor claims, including Own Damage, Express Claims, Third-Party Property Damage (TPPD), and Windscreen Claims. There will also be expert guidance to prevent unnecessary admissions or complications during the claims process.

    Being prepared and taking the right steps after an accident can make a huge difference in ensuring a smooth resolution. Staying calm, gathering evidence, and working with trusted service providers can help protect your interests and speed up the recovery process.

  • Malaysia faced 27.9 million online threats in 2024

    Malaysia has moved up the global rankings for web threats, a stark reminder of the escalating cyber dangers lurking online. According to the latest Kaspersky Security Network (KSN) report, Malaysia now ranks 30th worldwide, with a staggering 27.9 million web threats detected and blocked by the global cybersecurity company in 2024, a 4% increase compared to the previous year. This alarming data underscores the critical need for enhanced cybersecurity measures to protect individuals and businesses in the country.

    “The rise in web threats detected in Malaysia is a serious concern. Our latest data shows us the growing sophistication of cybercriminals and the urgent need for individuals and businesses to continuously enhance they safeguards against cyberthreats. Neglecting cybersecurity best practices can have severe consequences, from data breaches and financial losses to reputational damage, and event disruption of critical services,” says Yeo Siang Tiong, General Manager for Southeast Asia at Kaspersky.

    The Digital Communications Ministry highlighted that no single entity could address the cybersecurity challenges that Malaysia faces today. The threats are complex, multifaceted and evolve at a pace that demands collective action. The ministry views public and private partnerships as an important synergy to address the cybersecurity concerns.

    Malaysia is the current overall coordinator of the ASEAN Regional Computer Emergency Response Team (ASEAN Regional CERT), with the aim to build a more resilient digital ecosystem for all. The country is also in the midst of joining the Budapest Convention and the United Nations Convention Against Cybercrime, demonstrating the country’s commitment to combat cybercrime both locally and internationally.

    “The Malaysian government’s ongoing efforts to combat cyberthreats are commendable. These steps are crucial in raising public awareness and strengthening the country’s cyber defenses. Staying safe online requires a multi-layered approach, strong passwords, updating software, being vigilant against phishing attempts are just the first steps. You need to utilize robust cybersecurity solutions, so you can significantly enhance your protection against cyberthreats. It is troubling to learn that approximately RM5 billion in losses occurred due to cybercrimes from 2020 to 2024. We urge Malaysians to continue to prioritize online safety and take proactive measures as soon as possible,” adds Yeo.

    Kaspersky experts advice the following for users to reduce some of the online risks:

    • Use strong and unique passwords. The weakest link is often the entry point to the platform, which is the password. This should be unique and not one that you re-use on multiple social media platforms. If you struggle to come up with a unique password, consider using a password manager to generate a unique and strong password.
    • Two-factor authentication. While many people choose to use SMS or email as the source of the second verification, Kaspersky recommend using an authenticator app.
    • People you do not know, do not click to read the direct message. There is no reason for you to assume that you should click on any link sent from people you do not know. It may be a goal to chase the influencer wagon and make fast cash, if something sounds too good to be true, it probably is.
    • Talk to your kids on basic safety on social media networks.
  • Shopee expands range of Shariah compliant financial services with Takaful IKHLAS

    Shopee expands range of Shariah compliant financial services with Takaful IKHLAS

    Leading digital payments and financial services provider SeaMoney, has partnered with Takaful Ikhlas General Berhad (Takaful IKHLAS) to offer Motor Takaful protection on the Shopee app. The latest addition to Shopee’s growing suite of digital insurance and takaful offerings, IKHLAS Private Car Comprehensive Plus Takaful, aims to provide holistic, Shariah compliant motor takaful protection to users.

    IKHLAS Private Car Comprehensive Plus Takaful provides the following coverage:

    • Third party bodily injury and death;
    • Third party property loss or damage;
    • Loss or damage to your own vehicle due to accidental fire or theft; and
    • Loss or damage to your own vehicle due to accidents.

    Additionally, participants can enjoy complimentary benefits that include:

    • Waiver of Compulsory Excess for Unnamed Driver
    • Complimentary Personal Accident cover for Participant
    • Transportation Fee Reimbursement

    IKHLAS Private Car Comprehensive Plus Takaful also provides complimentary roadside assistance with 24-Hour Bantuan IKHLAS Road Assist. This includes a 24-Hour Accident and Breakdown towing service that also covers Singapore, South Thailand, and Brunei within a 25km radius of the Malaysian border, as well as locksmithing and battery delivery services.

    In conjunction with the launch of IKHLAS Private Car Comprehensive Plus Takaful, Shopee is offering an RM15 voucher on top of a 10% discount for all Takaful IKHLAS insurance and takaful products.

    Here’s how you can purchase IKHLAS Private Car Comprehensive Plus Takaful on Shopee:

    Step 1: From the Shopee app home page, access the “Finance” circle, located right below the search bar. Once in the Finance page, click on “Insurance”.

    Step 2: Here, click on “Car” and proceed to fill in your vehicle details to receive an insurance quotation.

    Step 3: After receiving your quotation, select your preferred IKHLAS Private Car Comprehensive Plus Takaful and proceed to complete your purchase.

     

  • 7 Tips For First-Time Home Buyers

    7 Tips For First-Time Home Buyers

    Purchasing property in Malaysia can be complicated and perplexing, particularly for first-time buyers. Yet, if you are prepared and knowledgeable, you may go through the process easily and assuredly.

    Here are some tips for first-time home buyers in Malaysia.

    1. Property Ownership

    settle my loan early credit card loan house loan opportunity cost car loan

    One of the important tips for first-time home buyers is to know the many forms of property ownership. Malaysia has three: leasehold, freehold, and Bumiputera quota. Properties with a leasehold duration of up to 99 years are often less expensive than those with freeholds.

    Freehold homes cost more and have an unrestricted tenure. For ethnic Malays and other indigenous communities, quota-Bumiputera properties are set aside.

    Read: Housing Loan In Malaysia: What Is Debt Service Ratio (DSR) And How To Calculate DSR?

    2. Know Your Property Market

    Get knowledgeable about the property market. It is crucial to comprehend the market’s circumstances before making a purchase. Find out the costs of nearby properties similar to yours and the level of interest in those properties.

    To better grasp the market, you can also speak with property agents, registered real estate negotiators or property developers.

    Read: Property Investment: Make Money via Capital Gain & Rental Yield

    3. Loan Pre-Approval

    Next on tips for first-time home buyers is to obtain a loan pre-approval: If you intend to use a loan to pay for your property purchase (which most people are), it’s a good idea to get pre-approved a loan before beginning your search.

    This can help you decide how much you can pay on a property and provide you leverage when dealing with vendors.

    Read: 3 Important Steps For Your Mortgage Application

    4. Understand the Legal Process

    One should know and understand the legal process before buying a property. The legal procedure for purchasing property in Malaysia might be complicated, so it’s important to understand all the processes.

    This includes the ownership transfer, stamp duty and additional legal costs. Having a lawyer at your side will be very helpful throughout the procedure.

    Read: Investing In Property With A Holistic Perspective Using This 3-Step Process

    5. Property Inspection

    Number five on the tips for first-time home buyers, we need to inspect a property, particularly if it’s a sub-sale property. Make sure you conduct a property inspection before making an offer. It’s better to have a professional inspect the house before making an offer.

    This will ensure there aren’t any flaws or problems that aren’t obvious now but could later cause complications in terms of safety or money in your pocket!

    Read: 5 Reasons Why You Shouldn’t Pay Off House Loan Early

    6. Ready To Spend More Money!

    You should be ready! There are additional charges to consider in addition to the property’s purchase price, such as legal fees, stamp duty, and other ancillary costs. Make sure to budget for these fees in advance.

    If you are buying a sub-sale or auction property, be aware that repairing or renovating may take a lot of money.

    Read: How To Save 50% Of Your Housing Loan Interest In Half The Time, And Get Your Dream Car For Free

    7. Be Patient!

    One of the final tips for first-time home buyers is to be patient. Take your time, research, and consider all your possibilities before deciding.

    Remember! Property loan is one of the largest loans with the longest tenure one has in life!

    Buying property in Malaysia can be difficult and complex, but with a little information and planning, you can go through it confidently and smoothly.

    Understanding the various types of property ownership, being familiar with the real estate market, obtaining a loan pre-approval, being aware of the legal process, obtaining a property inspection, being ready for additional fees, and exercising patience are all key.

    Once you know these tips for first-time home buyers, you’ll have no trouble choosing your ideal property in Malaysia if you keep these suggestions in mind.

    Read: Is Malaysia Property Still Worth To Invest In?

  • 5 Tips To Help You Set And Achieve Your Financial Goals

    5 Tips To Help You Set And Achieve Your Financial Goals

    Have you ever set goals for yourself but failed to meet them? It may be to start exercising, investing, spending more time with your family members or loved ones, or whatever goals you may have.

    You set goals at the start of the year but did not follow through in the following weeks or months. You only realize your goals as year-end approaches.

    A study by Martin Oscarsson published online in 2020 on large-scale experience with New Year’s Resolutions found that 55% of the respondents successfully sustained their resolutions at a 1-year follow-up.

    Therefore, it is possible to follow through on your goals by following these five tips to help you set and attain your financial goals.

    Read: Six Golden Rules In Getting Favorable Returns And Growth, When Investing In Unit Trusts

    1. Clarity

    Do you have a clear and specific goal for how much you want to achieve in financial goals?

    It can be measured by savings amount, net cash flow or how much net worth or how much investment portfolio, how many like properties or how much reduction of debt or how much sum insured you would like to have at a certain time frame.

    Clarity is power; having that clear focus on what you want helps give you that clear direction.

    When you use your GPS, whether you are using Waze or Google Maps, the first step is to key in your destination. In your financial planning, you need to know what clear financial goals you want to achieve.

    Read: Should I Take Out My EPF To Settle My Housing Loan?

    2. Compelling Reason

    After you know what you want, the next thing is to know why you want those financial goals.

    “ Reasons come first. Answers come second.”

    – Jim Rohn

    Why do you need to achieve that goal? For what purpose? Is it for yourself or for others?

    Having that compelling reason will pull you toward the goals that you set. You may face certain challenges/obstacles, but your stronger reasons will pull you back to the right track.

    For example, by achieving that financial freedom, what would this allow you to do? Is it to live a comfortable lifestyle for yourself and your family? Is it to travel worldwide and create memories with your loved ones? Is it to start a charitable organisation?

    Read: Where To Invest In 2023: Amidst The Recession And General Election

    3. Consistency

    Consistency is key to ensuring that you are getting closer to your goals. Don’t undervalue the small steps you take every day.

    For example, by saving RM3 per day for 365 days, you will save around RM1,100 over one year. What if you put it in an investment vehicle that grows at a certain percentage?

    For example, someone saving RM500 per month over 35 years with the assumption of an 8% compounded annual return will have over RM1.1 million at the end of that period.

    Read: 5 Easy Steps to Achieving Financial Merdeka

    4. Accountability

    Do you have someone accountable to you who helps you track and guide you in achieving your financial journey, be it your financial planner or someone competent enough to advise you on your personal finances?

    It is like having a mentor or a coach who can advise you on the rights and wrongs.

    Read: 5 Investment Tips For Beginners That You Should Know

    5. Review and Measure

    It is always good to measure periodically; it may be quarterly, half-yearly, or yearly, depending on the duration of those financial goals that you set. Knowing the actual results will allow you to make necessary adjustments to try out different methods to save or reduce unnecessary expenses that contribute to your overall financial goals.

    Once you have your financial goals, the most important step is to take action either to create that investment account opening or schedule that appointment with your financial planner or what would the next things you can do.

    Read: Saving vs Investing, Should I Save Or Invest?

    5 Tips To Help You Set And Achieve Your Financial Goals

    Every new year comes with optimism and new year resolutions. I hope that these tips will be able to help you set and achieve your financial goals.

    About the Author

    Goh Chee Yong is a Licensed Financial Planner under Capital Markets Services Representative License (CMSRL) and Bank Negara approved Financial Advisor Representative (FAR). Prior to becoming a financial advisor, he spent eight years working in Big 4 audit firms and multinational corporations. He is also invited to speak on financial literature at universities and public events. He can be contacted at cygoh@imaxfinancial.com.my