Money News

Credit card alternatives on the rise

Posted February 18, 2010 - 10:03pm by RS Ringgitsavers

KUALA LUMPUR: The RM50 credit card service tax for principal cardholders and RM25 for supplementary cardholders is changing the landscape of cashless payment tools. Aside from being more aggressive in offering credit card-related perks, more financial institutions are marketing credit card alternatives that are exempted from such service taxes. 

PNB ANNOUNCED 5.20 SEN PER UNIT OF INCOME DISTRIBUTION FOR ASN

Posted February 17, 2010 - 11:02pm by RS Ringgitsavers

Kuala Lumpur :- Amanah Saham Nasional Berhad (ASNB), a wholly-owned subsidiary of Permodalan Nasional Berhad (PNB) has announced an income distribution of 5.20 sen per unit for Sekim Amanah Saham Nasional (ASN) for the financial year end December 31, 2009.
 

The income distribution will involve a total payment of RM81.52 million compared to RM79.9 million paid for the financial year end 2008.
 

HSBC Amanah named best international Islamic Bank

Posted February 17, 2010 - 10:56pm by RS Ringgitsavers
HSBC Amanah named best international Islamic Bank
 

KUALA LUMPUR: HSBC Amanah has been named Best International Islamic Bank and Best Sukuk House by Euromoney magazine in its Islamic Finance Awards 2010.

HSBC Amanah Global Chief Executive Officer Mukhtar Hussain said that over the last 12 months, the bank had cemented its status as the premier cross-border provider of Shariah-compliant financial services.

Amanah Saham Didik income distribution at 6.3 sen

Posted June 26, 2009 - 7:34pm by RS Ringgitsavers
 
Prudent strategy enables it to provide competitive returns
 
KUALA LUMPUR: Amanah Saham Nasional Bhd (ASNB) has announced an income distribution of 6.3 sen per unit for Amanah Saham Didik (ASD) for the financial year ending June 30.
 
Permodalan Nasional Bhd (PNB) chairman Tun Ahmad Sarji Abdul Hamid said the income distribution would involve a total payment of RM156.82mil, benefiting 224,729 units holders who collectively owned 2.83 billion units of ASD.
 

Chinese fund manager pays US$2.1m for a single lunch with billionaire Warren Buffet

Posted June 25, 2009 - 5:33pm by RS Ringgitsavers
 
OMAHA, Nebraska: It's extremely unlikely billionaire Warren Buffett would ever pay $2.1 million for lunch, because the Omaha investor prefers hamburgers and Cherry Cokes. 
 
But Chinese investment fund manager Zhao Danyang paid that much to dine with Berkshire Hathaway's chairman and CEO Wednesday as part of a charity auction.
 

Website teaches basics of credit management

Posted June 16, 2009 - 11:20pm by RS Ringgitsavers
 
Those who want to learn about basics of money management, now have a new avenue to turn to. Together with debt management agency AKPK, MasterCard has launched its e-Learning Center, an online consumer education resource on www.mastercard.com/sea/, to equip consumers with the fundamentals of personal finance management.
 

Is this the time to increase prices?

Posted May 6, 2009 - 9:10pm by RS Ringgitsavers

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IT may be a coincidence that within two weeks, we have news of two sets of price increases even as the economy is not expected to improve anytime soon.

The first “salvo’’ was when banks decided to raise hire purchase rates on car loans. That impact is not expected to be widely felt as firstly, not everyone will be buying new cars and secondly, the margin of increase may not be very significant for those who can afford.

Perodua prefers standard interest rates for car loans

Posted April 30, 2009 - 7:16pm by RS Ringgitsavers

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RAWANG, April 30 — Malaysia’s second national car manufacturer, Perodua, prefers banks to impose standard rates for hire purchase loans for all of the company’s models.

Three more banks to lower base lending rate

Posted April 29, 2009 - 3:47pm by RS Ringgitsavers

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PETALING JAYA (Feb 3, 2009): Affin Bank Group will reduce its base lending rate (BLR) and base financing rate (BFR) by 65 basis points from 6.55% to 5.9% effective today.

Standard Chartered Bank group, likewise, will cut its BLR and BFR from 6.5% to 5.95% per annum, also effective today. Meanwhile, AmBank Group will lower its BLR by 55 basis points to 6% per annum, from 6.55%, effective Feb 10.

Banks Decide Interest Rate For Car Loans - ABM

Posted April 28, 2009 - 2:42am by RS Ringgitsavers

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KUALA LUMPUR, April 23 (Bernama) -- The Association of Banks in Malaysia (ABM) today dismissed a call by National Union of Bank Employees (NUBE) for it to lower interest rate for national cars, saying that it was decided by individual commercial bank.

In a statement here, ABM executive director, Chuah Mei Lin, said the interest rates for car loans were determined by commercial banks themselves respectively based on their cost of funds, funding availability, loan growth and business strategies.