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Housing Ministry launches FundMyHome+DepositKu scheme to aid first-time buyers
SEMENYIH (Feb 20): The Ministry of Housing and Local Government today launched the FundMyHome+DepositKu scheme, further easing the burden for first-time homebuyers that purchase property... [...]
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Majority of traders adhered to price control scheme during CNY
GEORGE TOWN (Feb 8): The compliance shown by traders during the implementation of the 2019 Chinese New Year (CNY) Price Control Scheme was very high... [...]
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Possibility of data breach with mySalam health insurance scheme, Perkasa claims
Putrajaya had announced the MySalam scheme on January 24, which is expected to benefit 3.69 million people from the B40 group who would get a one-off payment of RM8,000 if they suffered certain critical illnesses. — Reuters pic KUALA LUMPUR, Feb 6 — The government-run health insurance scheme for the bottom 40 per cent of workers raises the concern of data breach by Singaporean insurance company Great Eastern Takaful Berhad, Perkasa claimed today.Its information chief Nasrul Ali Hasan Abdul Latif said this is because the Finance Ministry has allowed Great Eastern Takaful to have access to 3.69 million data from the B40 groups, which consist of personal details, home and work address, dependents, monthly income, and frequency of utilising the scheme as well as health details.“Based on my observation and knowledge on Big Data Analysis, this scheme opens up the space to openly invade the data of each individual by a foreign company, which may lead to abuse. This raises the question of data privacy.“With the complete data, the Singaporean company would not only be able to conduct market study to ensure the stability of its company in Malaysia, but the data could also be used as a political target in Malaysia with the cooperation of Singaporean political party, such as taking over leadership power in Malaysia,” he said in a statement, today.Nasrul said the matter would also jeopardise the country’s future as well as the Takaful and local insurance market and would pave way for Malaysia to me dominated by other large foreign companies.He said there are many doubts concerning the MySalam health insurance scheme, and the Pakatan Harapan government has to explain why Great Eastern Takaful, which had contributed a whopping RM2 billion, was selected to operate the programme.“Other leaders within PH should not be silent over the matter. If things are not clear and it would not benefit the country, then they should vote and suggest for the scheme to be cancelled or postponed until a thorough study is made.“A clear standard procedure should be made in order for the questions to be answered before it is implemented,” he said.Following the launch of the MySalam scheme, doctor and patient groups have raised concerns about the scheme as they said it lacks details and has insufficient benefits.Putrajaya had announced the scheme on January 24, which is expected to benefit 3.69 million people from the B40 group who would get a one-off payment of RM8,000 if they suffered certain critical illnesses.Besides the one-off RM8,000 payment, recipients will also get RM50 income replacements daily if they seek treatment at any government hospital for a maximum of 14 days a year, or equivalent to RM700 annually.Great Eastern’s RM2 billion contribution was in exchange for not having to divest 30 per cent of its Malaysian business in compliance with Bank Negara rules that stipulated a 70 per cent cap on foreign ownership of local insurance firms.The coverage under the scheme came into effect on January 1. Eligible B40 recipients can start making claims from March 1 onwards.The scheme is only applicable for public hospitals. [...]
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National Housing Policy 2018-2025 aims to reconcile market mismatch, focus on Rent-to-Own scheme
KUALA LUMPUR (Jan 28): After working for four months, the Housing and Local Government Ministry (KPKT) has finally unveiled the National Housing Policy (Dasar Perumahan... [...]
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KBS to review insurance scheme for national athletes
KUALA LUMPUR: The Ministry of Youth and Sports (KBS) will review the insurance scheme for national athletes in efforts to coordinate sports programmes under the National Sports Council (MSN). Its minister Syed Saddiq Syed Abdul Rahman said a one-stop Athlete Centre would be set up this year to facilitate communication between the national athletes and sports management in the country.“KBS through MSN will continue to improve the welfare of the nation’s athletes even after they have left the MSN sports programme,“ he said in his latest Instagram post.Elaborating Syed Saddiq said KBS would continue to strengthen cooperation with local universities and institutions offering technical education and vocational training (TVET) by providing scholarships as well as facilitating state athletes to continue their studies while undergoing training at the institutions involved.“Late last year we were able to establish such relationship with two other universities (currently seven in total). Our target is to have one university in every state by the end of 2019,” he said.Earlier on Friday Syed Saddiq met up with two former paralympic athletes, Shukor Farhan Suliman and Mohd Nur Syafiq Suhaimy, and promised to assist them after their contract were terminated by MSN.Shukor, 23 and Mohd Nur Syafiq, 27, reportedly had to sell fruits and go into hairstyling business after their contract were terminated. Shukor’s contract was terminated due to disciplinary problems and failing to win any medals at the 2018 Asian Para Games. As for Mohd Nur Syafiq, he could no longer perform after he broke his left leg in an accident while undergoing training along the Kuala Lumpur-Kuala Selangor Expressway, a day before the 2017 Kuala Lumpur Asean Para Games. — Bernama [...]
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Sunway Property launches Super 5 easy home ownership scheme
KUALA LUMPUR: Sunway Property launched its Super 5 easy home ownership scheme on Thursday to make it easier for buyers to own a home through its 95% guaranteed financing for eligible buyers. [...]
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Najib: Kg Sungai Ruil resettlement scheme proves BN ensured welfare of orang asli
CAMERON HIGHLANDS: The Kampung Sungai Ruil resettlement project is proof that Barisan Nasional has not forgotten about the orang asli community, says Datuk Seri Najib Tun Razak. [...]
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Mahfuz: Govt ready to extend Socso scheme to farmers
Deputy Human Resource Minister Datuk Mahfuz Omar said the government is willing to extend the Self Employment Social Security Scheme under the Socso to farmers. — Picture by Sayuti Zainudin PADANG TERAP, Jan 13 — The government is willing to extend the Self Employment Social Security Scheme under the Social Security Organisation (Socso) to farmers.Deputy Human Resources Minister Datuk Mahfuz Omar said this follows the lukewarm response to the scheme which was previously offered to taxi and e-hailing drivers.He said so far only 10 per cent of about 100,000 taxi and e-hailing drivers were registered and contributing to the scheme.“The scheme did not get much response from taxi and e-hailing drivers so we looked at other sectors, including farmers because they are also at risk of accidents and need to be protected by Socso,” he told reporters after visiting the Volvariella mushroom farm in Kampung Musa, Pedu here today.He said the protection under the scheme should be provided to farmers as they also dealt with machines and equipment which exposed them to the risk of accidents. — Bernama [...]
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Govt drafting welfare scheme for Armed Forces personnel, says Mohamad
Mat Sabu said the welfare scheme aimed at easing the burden of MAF personnel and also to recognise their services for the country. — Picture by Shafwan Zaidon KUALA LUMPUR, Jan 10 — The government is in the process of drafting the Bantuan Wira Negara, a welfare scheme to assist the Malaysian Armed Forces’ (MAF) personnel in their basic needs, says Defence Minister Mohamad Sabu.He said the welfare scheme aimed at easing the burden of MAF personnel and also to recognise their services for the country.“The scheme is currently in study phase and will be discussed further at the National Veteran Council (MVAT) level in February.“The committee has also been established and the details or forms of assistance will also be discussed,” he told reporters after the Defence Minister’s new year message at Wisma Perwira, here today.He said the initiative would play an important role in uplifting morale of the armed forces’ personnel and civil servants.Mohamad said the ministry would also revive MVAT that had stopped functioning in the past six years in order to give a big impact on the armed forces’ veterans.In an unrelated development, Mohamad said 100 per cent of the exhibition booths for the Langkawi International Maritime and Aerospace Exhibition 2019 (LIMA '19) in March had been reserved by exhibitors with 75 per cent of them had already confirmed their respective booths.“I think LIMA ‘19 (will be) the best (ever) held as various countries have confirmed their attendance,” he said.LIMA ‘19 will be held in Langkawi from March 26 to 30. — Bernama [...]
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National B40 Protection Scheme to start on Jan 1, 2019 — MoF
KUALA LUMPUR (Dec 28): The National B40 Protection Scheme will kick off with an initial fund size of RM2 billion on Jan 1, 2019, and... [...]
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PTPTN: Postponement of PGB scheme a good move — Anwar
ALOR SETAR (Dec 7): The Government’s decision to postpone the Scheduled Salary Deduction (PGB) scheme of the National Higher Education Fund Corporation (PTPTN) was a... [...]
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Debt-laden Hyflux says still working on terms of scheme of arrangement
SINGAPORE: Water treatment firm Hyflux is still working towards formulating the terms of a scheme of arrangement involving creditors, the group said, dismissing recent media articles reporting the purported details of a formal plan proposed to its senior unsecured financial creditors as mere speculation. [...]
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30 Bitcoin investment scheme victims report RM22m losses
Thirty victims have lodged police reports against an investment scheme involving bitcoin over losses amounting RM22 million. — Reuters pic KAJANG, Nov 19 — Thirty victims have lodged police reports against an investment scheme involving bitcoin over losses amounting RM22 million.One of the victims, Mohd Alif Basari, 27, who was a former nurse at a private hospital, claimed he invested more than RM60,000 since joining the investment in April 2016 and had only received returns of  RM2,000.He said he joined the bitcoin investment after attending a briefing at a hotel in the federal capital on the investment organised by a local film producer.“We were promised monthly dividend based on the purchase of one bitcoin priced at RM1,800. In the first few months, I received returns of about RM500 to RM600 in cash.“Seeing the returns, I invested up to 20 more bitcoins as at July 2016. Nonetheless, after that the investment system began to struggle when the issuance of dividend was halted causing me to be worried,” he told reporters at the Kajang police headquarters here today.He was among 30 victims who made police report and call for investment company to be investigated so that others would not be duped.In this regard, the Malaysian Cyber Consumer Association (MCCA) chairman, Siraj Jalil said to date more than 300 individuals had come forward to complain to the association. “All victims who lodged reports suffered losses of between RM10,000 to RM600,000 after joining the syndicate since 2015,” he said. — Bernama [...]
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Developers moot REIT alternative to FundMyHome scheme
Rehda Institute chairman Datuk Jeffrey Ng Tiong Lip delivers his speech during the Budget 2019 Commentary at Wisma REHDA in Petaling Jaya November 13, 2018. — Picture by Mukhriz Hazim PETALING JAYA, Nov 13 — The government should consider a real investment trust (REIT) specialising in residential property as another possible solution to the lack of affordable homes, the Real Estate and Housing Development Association Institute (Rehda) proposed today.Touting this to be an alternative to the FundMyHome peer-to-peer platform, chairman Datuk Jeffrey Ng said the proposed REIT could be used to develop public housing catering to the B40 class.REITs are firms that build, operate or fund property development in which members of the public may participate in by buying shares in the company.Among others, Ng said the 20 per cent upfront payment in the FundMyHome scheme made it inaccessible to lower income earners who make up the bulk of the B40 class at which it is targeted.“With regards to the 20 per cent down payment under the scheme, as the initiative is targeted at first-time home buyers for properties between RM300,000 and RM500,000, we foresee a problem in buyers coming up with such down payment RM60,000 to RM100,000.“As it is today, 10 per cent down payment is already a huge hindrance to home purchase for most first-time house buyers and as such, will the target group be able to meaningfully participate in the FundMyHome scheme?”Ng made the remarks in his opening speech at the Rehda Institute 2019 Budget commentary here today.Ng, who is also the chairman of the Malaysian REITs Managers Association (MRMA), said Rehda will work with the former to propose the REIT and its mechanism to Putrajaya.“If they agree then the next step is to take it to the Securities Commission,” he said.FundMyHome hit controversy after it was launched just two days after Budget 2019 and drew criticism from former prime minister Datuk Seri Najib Razak and Datuk A. Kadir Jasin, among others, over its launch timing.Najib said it smacked of insider knowledge as the scheme was launched as though the company already knew it would be announced in Budget 2019 while Kadir said it exposed the government to suspicions of cronyism.Earlier today, Ng said it was still unclear how the Pakatan Harapan government will deliver its pledge of a million affordable homes in the next decade.Citing Rehda Institute’s studies, Ng said this would require 4,100 acres and cost about RM220 billion.“How are they going to raise the funds to build such huge numbers, and how are they going to identify suitable land with a suitable ecosystem for affordable housing, remains a puzzle to the industry.“Perhaps with concerted and holistically planned efforts among the federal government, state government and GLCs, such lands required for the delivery of these one million affordable houses can be made, provided there is strong political will,” he said. [...]
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PM launches FundMyHome scheme to help first time home owners
SEMENYIH: Prospective first-time homeowners will find it much easier to finance a roof over their heads, with the launch of a new scheme matching first-time buyer with financial institutions. [...]
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Android apps used in multi-million dollar ad fraud scheme
A recent investigation by BuzzFeed News has revealed that more than 125... The post Android apps used in multi-million dollar ad fraud scheme appeared first on Marketing Magazine Asia. [...]
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