Malaysia Financial Blogger | Financial Freedom Ideas | imDavidLee.Com

Malaysia’s Labor Law: Retrenchment

It’s good to know your rights especially when you are being retrenched. As an employee, you should know about the lay off benefits and how much employer should pay you back.

Under the Malaysia Labor Law: Employee Act 1055 or Industrial Relation Act 1967, this is the minimum amount of money the employer should pay the employee if they decide to retrench. If you have been working for a company:

*Between 1 to 2 years, you should get minimum of 10 days salary for each year of your employment under a continuous contract of service with the employer.

*Between 2 to 5 years, you should get minimum of 15 days salary for each year of your your employment under a continuous contract of service with the employer.

*Above 5 years, you should get minimum of 20 days salary for each year of your your employment under a continuous contract of service with the employer.

How about if you work for 1.5 years, 2.2 years, 2.5 years, 3.4 year? Let say, if you work for 1.5 years, then the retrenchment compensation will be calculated like this:

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Redbox DotRed Card Promotion

As you may aware, started since 4th of January 2010, Redbox changed the way they are distributing their voucher for DotRed card member. Now they are offering special promotion, you will receive My Birthday Fun vouchers during your birthday. In this My Birthday Fun, it has total 7 vouchers (2x Free Head Charge, 1x Free Bottle Sparkling Juice, 1x Free Jug of Soft Drink, 1x Buy 3 Free 1 Head Charge, 1x Buy 3 Free 1 Lunch, 1x 3 Jugs beer with RM88++).

I still remember last time they will give RM150 voucher which is RM50+RM100 vouchers. In order to make use of RM50 discount vouchers, the DotRed card member need to bring/invite at least 5 friends while RM100 discount vouchers require 10 friends.

How to Signup As Redbox DotRed Membership?

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What Do You Think About Malaysia Fuel Price by Car Size?

Started from 1st May 2010, certain group of Malaysians who drive higher capacity engine and non-citizens will have to pay different fuel prices as they will not be eligible for subsidized petrol anymore. As I known, our government currently subsidized RM0.30 for RON 95. The original price of RON 95 is RM2.10.

Do You Think New Fuel Subsidy System Workable?

Our government has never fail to invent new system. But, most of the time all those new system that implemented never satisfies us as we have already adopted ourselves in the “comfort zone” of cheap. For me, it’s better to do some feasibility study and set the concrete rules and procedures before making any final judgment.

Secondly, it’s not fair enough to implement petrol price with accordance to engine capacity! This is because there are still a lot of rich people driving old and small cars. So, this may not prevent rich people from enjoying the subsidy too.

Thirdly, it is totally ridiculous to implement this new fuel subsidy system. How are they going to determine who is the rich and who is the poor. What about the middle class people who are earning RM2,500 monthly, paying taxes yearly but driving a 2000cc car?

Fourthly, there may have smart people who will drive a low engine capacity car like perodua kancil to fill up their fuel and go back to transfer it to their higher engine capacity car like BMW via a hose. So, could you imagine how danger of it and it may increase the number of fire accident cases by just saving their fuel cost.

We as a Malaysian citizen cannot do anything if government still insists public to follow their decision. So, as a pre-preparation, people should try to find alternative to improve their income and not just blame this and that.

My Suggestion Over The New Fuel Subsidy System

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Malaysia’s Sugar Price Increased?

Since 1st of January, Malaysia sugar price increased from RM1.45 to RM1.65 per kilo in Peninsular Malaysia and RM1.75 in East Malaysia. As I known, our government was still maintaining a subsidy of RM0.80 per kilo. However, I heard many people said that one day our government would remove the sugar subsidy in order to minimize the amount of sugar intake and meanwhile reduce the diabetic cases in our country.

I am sure that this hike in sugar price will cause the price of every sugar made product to be increased. So, do you think who is suffering in the end? For me, the rise in diabetic cases is just an excuse to work out the plan. Eating less sugar is absolutely good for health but not at the expenses of putting burden onto the public.

My Point of Views: Sugar Subsidy Removed

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Malaysia Cigarette Prices Hike On 1st Jan 2010

Today is 1st Jan 2010, which is my Birthday as well. I feel very excited and happy to have this great start of a new year. I would like to thank our government for taking serious about citizen healthy by implementing the new regulation, which increase price for all low quality and cheap cigarette.

If you are a smoker, then you should get ready to pay more for low quality cigarette price starting by today 1st January 2010. Now, the cheapest pack of 20’s would cost RM6.40. So, the minimum retail price for a stick of cigarette is RM0.32. Previously, you can find it below that price. For those branded cigarette like Dunhill, Malboro, Winston, Mild Seven, Salem would cost RM9.xx per pack.

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