Wednesday, September 30, 2015

2015 Retrenchment / Job Cuts / Lay Off in Malaysia - Further Job Cuts and Lay Off

Earlier last month, I shared on some retrenchment news in Malaysia.

Since then, there are more announcement on job cuts as below:

All of the above were announced in September 2015.

With increasing cost of living and limited job opportunities, it's going to be a tough time ahead for those affected by retrenchment. For those who's still earning, it's better to start saving for your emergency fund now.

Tuesday, September 1, 2015

IRB@LHDN - 2014 Overpaid Tax Refund

I submitted my 2014 IRB@LHDN tax return on 26 May 2015. By middle of July 2015, I have not received any emails or notification from IRB@LHDN with regards to my overpaid tax refund. So, in the middle of August, I filed a complaint to IRB@LHDN through their website, to enquire the status of my overpaid tax refund. Within the next working day, I received a reply from IRB@LHDN officer, informing that she had submitted my case to the local IRB@LHDN for further processing. And it will require 14 days before I can expect any reply from them.

One week later, I saw IRB@LHDN made the transfer to my bank account.

For those of you in same situation like me, I suggest you to file a complaint to IRB@LHDN through their website. Or, go to IRB@LHDN official website. Look for Feedback -> Customer Feedback Form -> Taxation Inquiry -> Tax Refund. You will need to fill in the form. So, make sure you have your tax return details with you.

Friday, August 28, 2015

How To Pay PTPTN with EPF@KWSP Savings

For PTPTN borrowers with education financing agreement executed 2 Jan 2001 onwards, they can use the savings from their EPF@KWSP account 2 to pay for the PTPTN study loan. From my point of view, PTPTN borrowers should try their best to pay with their own money and not from their KWSP savings. Mainly because EPF@KWSP is a saving for our retirement. Using EPF@KWSP savings to pay for PTPTN study loan should be the last resort to settle PTPTN study loan. 

You can click here for procedure on how to make PTPTN repayment through EPF@KWSP withdrawal. 

Saturday, August 15, 2015

Malaysia Retrenchment - Should You Take Up The VSS or MSS Offer?

I read a sharing by Alice Yokyuen-Wong on The Star Online. I strongly feel that, those affected by Voluntary Separation Scheme (VSS) or Mutual Separation Scheme (MSS) should read it too. Why? Because it's from her own experience and there are truth in her sharing.

Do take note that she budgeted her expenses tightly after the VSS even though she had received the compensation sum from her VSS employer. Because she said she's not sure how long she would be jobless. But, she's lucky because she got her new job just 28 days after being laid off.

There are some truth when she shared that employee should take up the VSS or MSS and move on. Rather than 'sinking together with the ship', just like two of her friends who had worked in a public listed company. At least the compensation from VSS or MSS would lasted for some time while one looking for new opportunities.

For those affected by VSS or MSS, let's hope that you'll be landed on new job soon.

Friday, August 7, 2015

2015 Retrenchment / Job Cuts / Lay Off in Malaysia

Recently, there are quite a number of retrenchment news, locally and internationally. I share below, some of the 2015 retrenchment or job cuts in Malaysia and globally:

1) CIMB Group offered voluntary Mutual Separation Scheme (MSS)

2) HSBC to cut thousands of jobs globally

3) JVC Kenwood Malaysia Sdn Bhd ceased operations

4) Fairchild Semiconductor (Malaysia) Sdn Bhd to sell Penang factory

5) Royal Dutch Shell to axe 6500 jobs globally

6) Malaysia Airlines, MAS retrenched 6000 jobs

7) Job cuts at some of global banking institution 

I believe there are many job cuts or retrenchment which not been reported in news. Feel free to share your thought and comment below if you have any.

photo credit: Today's News via photopin (license)

Monday, July 27, 2015

Four Months After GST Implementation

As at now, most of us in Malaysia are getting used to GST implementation. We know how to read the price tags and official receipts. Those who works in Account Department or Finance Department should at least know how to key in input and output tax into accounting system and also to file the GST returns. 

There are also less and less complaints on GST impact in loca news. It seems like the rakyat are slowly getting used to the GST implementation. 

But, one thing for sure, the rakyat really feel the pinch of price hike. One specific of honey from Australia was priced at RM31.90 before GST implementation. But when I purchased the same honey in Apr'15, it was RM36.90. Last year, a ream of a branded paper cost RM9.50. Today, the same ream of branded paper at the same stationary store cost RM11.13 (RM10.50 + 6% GST). A specific brand of facial toner cost me RM38 in early 2014, then RM42 toward the end of 2014. In Apr 2015, the same facial toner cost me RM55! I am not sure if the price hike was caused by the dropped in Ringgit value or because the supplier been charged higher by the producer due to high demand. No matter what, the huge price different after GST implementation is really unacceptable to me.

I noticed that everyone now are more concern on their purchase, be it at the kopitiam, wet market, the supermarket or at stationary stores. Everyone trying to get the best deal and trying to stretch their ringgit further. This is a domino game. When everyone trying to hold back from spending, economy will be affected. In the long run, let's hope that the GST implementation brings us more good than harm.

Saturday, July 11, 2015

How To Cash Out Your AdSense Earnings in Malaysia using Western Union

I shared below how to cash out your AdSense earnings in Malaysia through Western Union:

1) Once you've reached the minimum earning threshold, which is currently USD100.00, you will received an email from Google Billing with the subject title 'Google AdSense: We recently sent you a payment';

2) Follow the instruction in the email to log in to your AdSense account. Select "Payments" from the drop down list. You will be able to see a 'Payment Receipt' from Google. Print out this payment receipt or write down the 2 most important parts which is the Money Transfer Control Number (MTCN) and the sender. In my case, the sender was Google Ireland, Ltd. But my advice is still better to print out the receipt and bring along with you when you go to the bank.

3) Go to the any banks in Malaysia with the yellow 'Western Union' symbol. In my case, I went to the bank nearest to my office, which is RHB Bank.

4) Tell the bank officer you need a form to receive money through Western Union. Fill in the important parts of the form such as Receive Money, MTCN number, your full name, your address, your occupation and the sender. The officer will require your NRIC as well, for verification purpose. No need to fill in the amount, as the officer will fill in for you based on the MTCN number. For my case, I need to wait for about 20 minutes for the officer to verify the details before he called my name name and handed me the cash in Malaysian Ringgit. 

Prior to receiving your first AdSense earning, make sure you update your payee profile, payment setting and billing contacts. For payee profile, remember to key in your name and address accordingly. For payment setting, the fastest and easiest way to receive the AdSense earning is through Western Union. So, log in to your AdSense account, then under 'How you get paid', select Western Union.  Make sure you change the payment method prior to your payment issued (in my case is USD100.00). Otherwise, Google Billing will not be in time to change the payment methods.

Hope the above helps!