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Category: Malaysian economy and BNM

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ABCs of Personal Finance

Personal Finance 101: PIDM protecting our savings

Perbadanan Insurans Deposit Malaysia (PIDM) is a Government agency established in 2005 under Akta Perbadanan Insurans Deposit Malaysia (Akta PIDM). How PIDM protects financial consumers? Briefly, do refer below. It protects financial consumers by protecting deposits and takaful and insurance benefits. Briefly, it meant that PIDM would honour the benefits entitled to us the financial consumers even if the provider of such a product happened to fall into some financial issue.

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Overnight Policy Rate
Malaysian economy and BNM

Overnight Policy Rate maintained at 2.75pct. Negative?

Central banks would always try to help the expansion of the economy. If the economy is slowing down, one possible way the central bank could encourage economic expansion is to reduce the interest rate. This makes it less attractive to put the money into bank and people may choose to invest those instead. With a lower interest rate, the businesses may also take this opportunity to borrow money and expand their business. People may also think it is a good time to invest into property for example. So, reducing the interest rate is one such measure.

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Investment
Malaysian economy and BNM

Recession Malaysia to be a reality in 2023?

This is the definition for recession. A recession is a significant, pervasive, and persistent decline in economic activity. (Investopedia) Briefly, it meant that people spend less than last year. Imagine getting the same salary this year as last year. However, because of sentiment, you decided to spend less and save the money into the savings account instead. Now imagine another 100,000 people who has the same thoughts all doing the same. Suddenly, the number of people spending in malls are reduced.

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inflation
ABCs of Personal Finance

Interest rate will go up further in Jan 2023

Maybank IB says that it’s possible for Bank Negara Malaysia (BNM) to increase the rate by another 25 basis points. It’s 0.25%. If we are thinking of buying a home or even paying for a mortgage currently, what’s the impact of this potential 0.25% rate increase? For a RM500,000 home and a 10% deposit, a change in 0.25% rate would mean a change of monthly repayment by roughly RM61.

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Investment
Malaysian economy and BNM

Economy Malaysia: 14.2% GDP growth for Q3 2022. Super high, good or just okay?

GDP growth number is always a comparison with the same period a year ago. Thus, a high number for Q3 2022 may also because of a low or negative number for Q3 2021. Nevertheless, please do not take away from the fact that a growing economy is still a growing economy and to look into details as to where the growth is coming from. Thus, if I am to rate the Q3 2022 growth, we cannot say this is super high because it was a comparison. It cannot be just okay because in comparison to countries around the region, this is definitely very encouraging indeed.

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office
Malaysian economy and BNM

Economic outlook and working from home, do they mix well?

Majority would prefer to earn the same pay and yet could work from home. That’s a lot of savings in time, money and mental health; no traffic jam, no stress. Actually, at best, this would be temporary and more and more companies will be getting their employees back to office. This is not just the traditional businesses yeah. It includes all the technology firms and the below company’s new owner has told all the employees to ‘come back to office’ to work. No more working from home.

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inflation
Malaysian economy and BNM

Meta and Twitter are becoming a smaller company (headcount wise…)

You must have read, somehow. You may be surprised. You may be thinking if this is a global phenomenon. Well, these two companies have been on the news every day. One is helmed by Mark Zuckerberg and the other by Elon Musk. No idea if both are great friends but they have decided that in order for the company to do better in the near future, it’s best to have fewer people on board. Both have decided to lay off 11,000 and 3,700 employees respectively. Do read the below

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bad news
ABCs of Property Investment

Too many bad news. Stop buying property.

The issue with social media these days is that we are tricked into believing what we read is the truth and that’s far from the truth. Engagement is key. Thus, social media platforms will do their very best to show you things you lik to read. What you like to read would then be the majority of things shown to you. As for property investment, it’s another thing which will have both sides of the story ALL THE TIME.

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not an investment
ABCs of Personal Finance

Fixed Deposit rate will be higher now. Happy?

Okay, when our Bank Negara Malaysia (BNM) increased the Overnight Policy Rate (OPR), then the banks would adjust their lending rates as well. At the same time, depositors will also get higher returns too. BNM just increased our OPR by another 25 basis points which is 0.25%. Our new OPR would be 2.75%. The ceiling and floor rates of the corridor of the OPR are correspondingly increased to 3.00 percent and 2.50 percent, respectively.

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property market
ABCs of Property Investment

Budget 2023 and property market Malaysia

I think every media is reporting on Budget 2023 and continue to gain lots of attention on it too. As usual, there are the supporters who said everything great about Budget 2023 and there are also the other side which nothing would make sense unless they are the ones doing it. It matters very little yeah because both sides do not determine if we live well, earn well or even invest well. When we are successful in our investments, it depends on what WE do and not what both sides say or do yeah.

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