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Saturday, October 25, 2014

Hong Leong Bank Credit Card 10% Cash Back

Maximize your returns with the highest, fixed cash back in town. Enjoy 10% cash back on your chosen spend categories all year round. Use it when you want it, where you want it.

Just make a minimum of any 10 retail transactions monthly (with a minimum of RM50 per transaction), you’ll get to enjoy the 10% cash back on your spending in the selected categories of your choice.

Frequently Asked Questions

How many cash back categories can I choose to enjoy for the 10% cash back?

You can select a maximum of two categories, in addition to one default bonus category (at current, the default bonus category is ‘Mobile') offered by the Bank to enjoy the 10% cash back.

When can I make my selection of cash back categories? Are there any cost/ fee incurred for the selection?

Selection of cash back categories is available in the card application form. All new enrolments at the point of application will be free of charge and will take effect upon card approval.

How do I earn the 10% cash back?

Just swipe a minimum of any 10 retail transactions monthly (minimum of RM50 per transaction) to activate the 10% cash back on your selected cash back categories.

Is there any capping on the cash back amount?

The cash back is capped at a maximum of RM100 per month.

Can I switch the selected spend categories after enrolment?

Yes, you may switch the cash back categories any time, throughout their card tenure, to suit your lifestyle and to maximize the cash back reward earned. For each switch of cash back category, a one-time maintenance service fee of RM10 will be charged at the point of maintenance and it will be effective on the following calendar month. Bonus category is NOT applicable to switch, except if amended at any time by the Bank.

How do I confirm if the switch has been made?

You will receive an SMS blast upon maintenance is conducted. < Eg. RM0.00 HLB - Your HLBB card ending 2525 has been debited with MYR10 for account maintenance. The new selected category – TRAVEL will be effective from JAN13>

Where do I make the switch?

You may switch categories via:-

Hong Leong Contact Centre at 03-7626 8899
Download the category maintenance form from
Walk-in to any Hong Leong Bank branches

Is Supplementary Card' retail transactions accumulated into the total number of swipes to meet requirement of 10 retail swipes per month and are those transactions eligible for 10% cash back also?

Yes, all posted retail transactions on supplementary card will be taken into account as per principal card. However, cash back earned will be credited into the principal Cardholder account only.

When will the cash back be credited into Principal Cardholder's account?

The cash back will be calculated at the end of each calendar month and will be credited to the principal Cardholder's account on the 28th of the following month. Cardholder will see this reflected in their statement then.

Are there Reward Points earnings on the Wise Credit Card?

There are no reward points for the Wise Credit Card.

Does the Wise Credit Card offer automatic insurance plans?

The Wise Credit Card does not offer free insurance plans.

Do I enjoy any cash back on other spend outside of enrolled cash back categories?

No, you are eligible for the 10% cash back on retail transactions based on your selected cash back category.

How will I know which merchants are eligible for cash back in a particular category?

An extensive range of merchants who are eligible for cash back are listed here and it will be updated periodically. Do note that cash back will be awarded based on merchant's corresponding Merchant Category Code (MCC) being assigned on each categories. The assignment of merchant category for each merchant is subject to classification by respective acquiring banks.

Do I earn cash back for overseas transactions in my selected cash back categories?

Yes, as long as the transactions are for merchants whose MCC corresponds with Cardholder's enrolled cash back categories. Eg. You spend USD100 in a restaurant in Los Angeles, and one of the cash back categories is Dining. Hence, you'll get 10% cash back in that category in local currency after conversion at prevailing exchange rate minus any administrative fees.

Which retail transactions are eligible for the minimum 10 swipes?

Eligible retail transactions include local and international retail and online purchases, recurring payments, insurance premiums, 0% Interest Easy Payment Plan (one time principal amount only) and Easy Payment Installment Plan (one time principal amount only); EXCLUDING, cash advance, balance transfer, Cash-on-Call, Call-for- Cash, Flexi-Payment Plan, fund transfer, fees and charges imposed by the Bank.

Are the retail transactions in a calendar month are counted based on posting date or transaction date?

Retail transactions in a calendar month are counted based on transaction posting date. Cash-Back is awarded based on the total posted Ringgit amount of eligible retail purchases charged to the Wise Card.

Are both Aeon Big and Aeon's supermarket are classified as Groceries Category to enjoy 10% cash back?

For Aeon, only Aeon Big is classified as Groceries Category to enjoy 10% cash back. All other supermarkets in Aeon's outlets are NOT classified as Groceries Category to eligible for cash back. The assignment of merchant category for each merchant is subject to classification by the respective acquiring banks.

If I were enrolled for Petrol category, can I enjoy the petrol cash back at any petrol stations? And, are both card transaction at petrol pump/ automated fuel dispenser and cashier counter eligible for petrol cash back?

Yes, you may enjoy petrol cash back for card transaction at automated fuel dispensers, applicable to any petrol stations.   But, card transaction at petrol station's cashier counter will not be eligible for petrol cash back as the swipes at counter may include miscellaneous purchases, eg. food, drinks, etc.

Can I apply for Wise card if I am currently holding another Hong Leong Bank credit card?

Yes, you may.

Source: HL Bank

Thursday, October 23, 2014



Opening of application 23/10/2014
Closing of application 29/10/2014
Balloting of applications 31/10/2014
Allotment of IPO shares to successful applicants 07/11/2014
Tentative listing date 10/11/2014

Will post once I got the target price fair value.









Source: The Star 18 October 2014
Oil and gas (O&G) services provider Carimin Petroleum Bhd is sticking to its plan to list on Bursa Malaysia next month despite weakening sentiment for the sector as crude oil prices plunged to a four-year low.

In an interview with StarBizWeek, the company’s managing director Mokhtar Hashim says the current weakening in the sector is short term in nature.

He says Carimin’s newly secured hook-up, construction and commissioning (HUCC) contract worth close to RM1bil will provide earnings visibility for the company in the next five years.

In mid-2013, Petroliam Nasional Bhd and its production sharing contract partners had awarded RM10bil worth of HUCC jobs, of which, Dayang Enterprise Holdings Bhd clinched some RM4bil and Petra Energy Bhd another RM2.5bil.

Carimin’s portion of the pie was about RM900mil.

“We have locked in our revenue for the next five years.

“Besides that, there could be additional work and that will increase the actual value of our contracts,” he says.

He adds that there are still many opportunities in maintenance jobs in the oil and gas sector. Carimin is also eyeing jobs in the engineering, procurement, construction, installation and commissioning (EPCIC) segment going forward.

Although Carimin has not officially priced its IPO yet, industry sources say that the company is looking at a valuation of around a price earnings (PE) multiple of 13 times historical earnings.

Carimin’s closest peer on the stock market is Dayang Enterprise Holdings Bhd, which trades at a trailing PE multiple of 16.31 times while its forward PE stands at 11.63 times. Dayang was one of the oil and gas stocks to have suffered in the recent market rout, having seen some RM540mil wiped out of its market capitalisation in the last one month.

Dayang, a much larger player, reported a net profit of RM122.08mil on revenue of RM563.36mil for its financial year ended Dec 31, 2013 compared.

Carimin, on the other hand, reported a turnover for the financial year ended June 30, 2011 (FY11), FY12 and FY13 of RM158mil, RM368mil and RM325mil, respectively.

Its net profits came in at RM9.5mil for FY11, RM16.5mil for FY12 and RM19.5mil for FY13.

“We are confident to maintain our margins between 6% and 8% as we will continue to be prudent in managing our expenditures,” Mokhtar Hashim says.

Analysts say that these margins are the norm for the industry considering that there is high competition in this business.

Due to field improvement and rejuvenation projects by oil and gas exploration companies, he believes Carimin will be able to replenish its orderbook, which stands at about RM900mil.

Of the total, RM800 mil comes from HUCC, and RM100mil from manpower supply.

With that, he is not overly concerned about the valuation of Carimin shares.

“It will not affect us much, hence we believe valuations can maintain.”

The drop in oil prices in the recent weeks has caused a major sell down in O&G counters.

Although the slump in oil prices will hit upstream players’ earnings directly, the fear is that O&G services providers will be affected as well due to a potential slowdown in O&G production activities.

Commenting on why it is opting to list now, Mokhtar says that the company needed time to build itself up and with the Pan Malaysia HUCC contract, timing is right.

The company that was established 25 years ago targets to launch its prospectus next week.

On its competitive edge, he says its strength lies in its people.

“We have been in the industry for a long time and have built our network over the years,” he says, adding that the management team knows the market well and has built a track record over time.

The long-term contract would also allow it to plan better and thus save costs.

According to him, its gearing is at a “very healthy level”.

On its growth plans, Mokhtar says he prefers to be focused on its core strength and will concentrate on the existing services it provides in the domestic market.

“There are many opportunities in Malaysia so we want to grow here.

“However, as a businessman, we will definitely look into it when opportunities arise,” he quips.

The same goes for its expertise as it will continue to expand on providing services that relate to its current core businesses.

“We are a HUCC and topside major maintenance specialist. We want to do well in this segment.

“If you run too fast, you might fall down,” he stresses.

In order grow its capacity, it has allocated RM12mil for the development of its yard in Kemaman, Terengganu for FY15.

The facilities enhancement work for the 78,000 sq ft yard was estimated to take 10 to 12 months.

Besides the yard, it also owns an anchor handling towing supply vessel Carimin Airis, which was acquired last year and co-owns a DP-II workboat SK Deep Sea with another party.

“We have spent RM50mil to RM60mil for capital expenditure for the past three years,” he adds.

He explains that the company runs on a lean model and will charter for vessels when its workload increases. That said, it will continue to buy assets to improve its eligibility to bid for bigger jobs.

In its draft prospectus, it intends to use 52.9% from the funds it aims to raise from its initial public offer to buy an offshore supply vessel. The OSV or accommodation workboat is estimated at RM95mil and the monies will be used for the deposit while the remaining will be funded via bank borrowings.

On top of that, 20.6% of the fund raised will be used to develop a minor fabrication yard, 12.4% to repay bank borrowings, 7.9% for working capital and 6.2% for listing expenses.

It also says it is selling 28.47% of its enlarged share base of 233.88 million shares that consists of 60.7 million new shares and 5.89 million existing shares under an offer for sale to selected investors.

Source: Carimin

Established in 1990, CARIMIN evolved to become one of the pioneer Bumiputera companies providing technical and engineering support services in the Oil and Gas Industry in Malaysia.

CARIMIN specializes in engineering, scheduled/work pack development, procurement, structural/piping fabrication, electrical/instrumentation installation, pre-commissioning and commissioning activities. This includes the deployment of marine vessels such as work barges, accommodation vessels, crew boats, anchor handling tugs, etc.

The business for the company grew steadily over the past decade from being a manpower service provider to a dynamic and emerging contractor in integrated maintenance, rejuvenation, hook-up and commissioning of onshore/offshore for the Oil and Gas support industries.

Our competency lies in offering unique and feasible solutions to achieve the desired results in accordance with the Client's expectations. To date, CARIMIN has amassed and completed projects valued more than RM 1 billion since its inception and among our notable portfolio of clients include oil giants PETRONAS Carigali, Shell, Murphy Oil, Talisman, Exxon Mobil, New Field, Petrofac, HESS and Nippon Oil.


Tuesday, October 21, 2014

Why I have not heard of this insurance plan before?

We normally heard of savings, medical or hospitalisation, education, etc. But after many years, some of the points I have gather the information for myself:

Hospitalisation. If anything happen, insurance will pay. Some people didn't buy. Why? If anything happen, go government hospital. I thought I can agree with that. But recently a friend of mine have a very bad encounter with government hospital. Long que. Wait. Scan and come back weeks later. Furthermore, kidney dialysis need to go private.

A friend of mine got high blood pressure, then the insurance premium shoot up very high. Some insurance will not accept if we already have existing sickness.

Savings Plan. Some don't like savings, because if anything happen, can the savings plan cover? Enough? But now we may want to buy more savings plan, because if anything happen, family have a lump sum of money.

Another friend of mine also, unable to work for 8 months, he said few more months will have no pay.

What is something new to me is Travel Insurance. I know what is it, but now I know how important it is.

Travel insurance. Someone I know just traveled oversea, fell sick and incurred very huge medical bill even in the government hospital because he is a foreigner in that country. He bought insurance, so can cover some of the cost.

If we trapped in the underdeveloped country, going to die because lack of medical support and need airplane to fly us home, you think airplane will fly you home? You need all those life support, and that probably cost few hundred thousand to fly you home. How? Make sure your travel insurance cover that.

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