|Date||September 8, 2021 - September 11, 2021|
ENGINEER is a premier industry trade event aimed to bridge engineering professionals in Malaysia with the ASEAN region. Covering 5 key engineering sectors (i.e. Civil, Electrical, Electronics, Chemical, and Mechanical) of Malaysia, ENGINEER offers the engineering professionals and key industry players an invaluable opportunity to network, collaborate and exchange ideas. Jointly organised by The Institution of Engineers, Malaysia (IEM) and C.I.S, the 4-day event held under the umbrella of IEM Convention is expected to welcome 12,000 trade and professional visitors for the first time - at a unique platform set to showcase an exhibition with cutting-edge solutions and advanced engineering products and technologies, a series of forums, symposiums and seminars alongside a gala dinner and awards night for industry recognition. Follow our Facebook page and stay tuned for more updates! If you wish to exhibit with us, visit our website for more information!
New Scheme from Bank Negara Malaysia (TRRF-Targeted Relief and Recovery Facility)
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Credit cards are like "lover" / planning wealth
March 29, 2021
E STEEL SDN BHD relies on credit card funds to start a business.
I enjoy the convenience of using a credit card, but people I usually contact tell me to "beware" of it.
I asked why? According to their interpretation, this is a candy packed with poison.
When I heard this explanation, I didn't have time to explain to them that the credit card itself is not problematic, and that the real problem is the wrong behavior of the user.
Their last words: Credit cards are like "bad lovers" that make you hate and love. In this issue, let me talk about the subject of "lover"!
Smart use of credit cards is one of the important measures to maintain your financial health. A credit card is like a double-edged knife (like a lover). Using it properly can bring benefits (a good lover), and vice versa (a bad lover who becomes abominable).
A credit card is an electronic payment method that allows you to purchase products or obtain services without cash payment.
All credit cards come with a spending limit set in advance by the card issuer. When you use a credit card to make a purchase, the card issuer will first make a one-time payment on your behalf, and then collect it from you.
Generally speaking, you can have an interest-free period of 20 to 50 days to pay off the arrears after consumption.
If you know how to use a credit card wisely, then it will be an excellent payment tool. Here are a few credit card benefits:
?It is a convenient and fast non-cash payment method.
?You can buy products or get services online, including buying air tickets.
?Credit card bills can help us review every consumption in order to achieve the goal of budget control.
?Some credit cards also cover free personal accident insurance and travel insurance.
?Provide attractive programs, such as zero interest installment plan, flexible payment plan and balance transfer.
?Accumulate credit card points to redeem gifts or services.
?Apply Must Know
Before using a credit card, you must first clearly understand some of the following terms and regulations.
The spending limit refers to the maximum overdraft limit of a credit card. Once your consumption exceeds this limit, you cannot use your card to spend normally-unless you first pay off part of the arrears.
Generally, the consumption limit is equal to 2 to 3 times the monthly salary. If your consumption exceeds this limit, it also means that you have used your income for 2 to 3 months in advance!
Credit card fees, including application fees, annual fees, financial fees, and so on.
Some credit card institutions charge a one-time application fee, the amount is determined by the card issuer.
Cardholders must pay annual fees after their credit card application is approved. Nevertheless, some card issuers will waive this charge if you reach a certain credit card limit.
If the cardholder fails to repay the arrears after the due date, the card issuer will levy different fees according to the situation.
At present, if cardholders pay off their credit card payments within a certain grace period, they will enjoy the following preferential schemes:
?Cash Advance Fee
The fees charged in cash advance transactions generally account for 3 to 5% of the credit card cash advance. This is an additional charge for your cash advance.
?Late Payment Charge
Cardholders who fail to pay the minimum repayment amount on the due date will be charged this fee. If you repay after the due date, you will need to repay the interest and late fees.
?Interest Free Period
As long as you can pay off the due credit card bills in full, that is, there are no credit card debts, then you will enjoy the benefit of an interest-free repayment period.
The interest-free repayment period refers to a period of 20 to 50 days from the bank bookkeeping date to the due date of repayment.
If you only pay part or the minimum repayment amount, then you will be charged the interest that is settled based on the total consumption amount on the day of bank bookkeeping.
This also means that if you are unable to pay off the due credit card bill in full and delay the payment until the next month, the interest-free repayment period will not exist.
You will be charged daily compound interest in the next round of bills until you pay off your credit card bill in full.
The balance transfer service allows cardholders to transfer (partially or in full) credit card arrears between the bank and the bank to achieve the purpose of reducing interest charges.
Generally, banks will encourage cardholders to transfer their arrears through a "preferential" approach with low interest rates. This may be a good idea for cardholders who want to save on interest charges.
Nevertheless, before deciding on the balance transfer, ask yourself the following questions:
1) How long will the so-called low interest rate offer last?
2) When the low interest rate offer ceases, what is the actual interest rate charged on the credit card bill?
3) Will the credit card consumption after the balance transfer also enjoy this low interest rate discount?
4) Will there be a balance transfer fee?
5) Will there be any service termination or early repayment fees?
Pay attention to regulations
Balance transfer can be a good strategy to reduce interest on arrears, but you must also pay attention to the relevant terms and regulations.
For example, there may be some clauses stipulating that you can only pay 5% of the minimum repayment amount during the promotion period, and you cannot overpay or pay off the arrears in full.
In addition, you will face a loan lock-in period ("Lock-In") period, which means that if you want to transfer your balance to another bank, you must pay a fine.
If you choose to carry out a balance transfer and use the transferred credit card to spend, then you have to be careful.
If you are not cautious in your consumption, then you may face the problem of arrears beyond your ability to afford.
At the same time, you must comply with the limited repayment amount and schedule. If not, the preferential interest rate will be converted to 17.5% per year, with other late fees and fines. This also applies to the "flexi-payment installment scheme" (flexi-payment installment scheme).
Flexible payment plan
Some card issuers will make agreements with specific merchants so that cardholders can pay off the payment in installments without interest within 3 to 24 months after shopping.
The cardholder must be responsible for repaying all transaction payments of the supplementary card.
Nevertheless, if the credit card debt is not repaid, most of the card issuers will let the supplementary card holders bear the responsibility.
to sum up
It turns out that wanting to own a credit card is like choosing a "lover" and you need to understand it in many ways.
Yes, knowing more is a good thing, because "speaking first" is to prevent us from knowing how to deal with the problem if any bad things happen in the future.
Huang Mingqiang: Transportation fees soared by 400%, high steel prices are not good for traders
April 08, 2021
(Kuala Lumpur, 8th) The President of the Malaysian Steel and Metal Chamber of Commerce (MSMDA) Datuk Seri Huang Mingqiang said that the current high steel prices are due to rising raw material prices, rising exchange rates, and insufficient space for shipping containers and ships, which has led to a 300 increase in shipping costs. To 400%.
He said that the high price of domestic steel products and the continuous emergence of shortages have caused the traders, importers and stockists of the members of the association to increase a lot of trouble and pressure, and it is miserable.
"Once the inventory is sold, it must be ordered at a higher price. Not only does the ordering cost increase a lot, it also increases the inventory risk. Once the price drops, it will cause huge losses and face various credit problems. .
"Therefore, most members can only replenish their products from their peers. Although some have previously ordered from foreign manufacturers, the prices of steel fluctuate too fast and too high, and manufacturers cancel orders and deliver goods. This is also the case. It also happened to local steel manufacturers, and orders were also cancelled when prices fluctuated sharply."
He issued a statement saying that the constant problems of container transportation are factors that cause the price of steel to rise. Therefore, members should pay attention to the changes in steel prices to avoid losses.
He reiterated that high steel prices are very detrimental to traders. Not only do operating costs increase significantly, but they also face higher risks. If you don’t buy goods, you can’t do business. Lost money.
Every manufacturing company faces the same question in terms of product range: "Should we manufacture, buy ready-made products or look for subcontracting suppliers?".
No matter which business method you choose, you can of course use these three methods together. There is now a free-to-use website that will provide comprehensive end-to-end information covering the latest products and services. Support almost all manufacturing solutions.
The Engineering Marketplace website (www.smemetal.com) was officially launched on January 1, 2021. It represents a unique collaboration of leading industrial engineering technology. The purpose of its development is to enable manufacturers to provide any technical support professional and trusted Recognized suppliers to establish contacts, products and niche services required. As the engineering market in Malaysia, Smemetal will provide you with a wealth of information to support smart business decisions.
Users can simply select categories related to their needs, and use subcategories to help centralized search, or choose from industries, or even search for their product or service requirements in free text search. Regional filters can be selected for suitable suppliers between regions and countries. After filtering, all potential businesses are "fixed" on the graphic map, allowing users to query each personal profile and each company's website link.
The "search box" search box means that customized products and services can be quickly identified without having to use an Internet browser to receive large amounts of information. Moreover, with the continuous plan to continuously expand the content and functions of the website, Smemetal visitors will be able to find the latest technical content and current company information with confidence.
High Tensile Steel 4140QT supply by E STEEL SDN BHD and CNC turned by Kuen Engineering to repair and maintenance on Menara Taming Sari Drum Shaft. https://m.facebook.com/story.php?story_fbid=117357903659139&id=102744501787146
Happy Golden Bull Year 2021
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