Malaysian can withdraw PayPal funds to local banks for FREE. But the exchange rate from USD to RM is low. I checked it just now.

Only 1 USD = 3.32498 MYR. Come on. Bank Negara Malaysia Ringgit Foreign Exchange Rates shows 1 USD = 3.4050 MYR on 30 October 2009. Why PayPal exchange rate is so low? You will loss RM801 RM80.10 for 1000 USD-MYR conversion. That’s a lot!!!

Anyway, will check the exchange rate again next few days. See is there any improvement.

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Yeah… A great news for Malaysia PayPal users. Now you can withdraw PayPal funds to local banks for FREE. I have some funds in PayPal from ADSDAQ. Before this, I planed to use the fund to pay US hosting fee or buy online stuffs from US. But now no need to keep so much fund in PayPal already. I can withdraw them easily.

All the while, the only way to get PayPal funds out was using credit card or charge card. And there is USD 5 fee charges (RM20 now). But who want to withdraw to card when you can get it free (>RM400) or pay RM3 fee (<RM400) to local bank?

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Hey, do you have any credit card with you? How many cards do you own? With announcement of RM50 annual service tax on principal card and RM25 for supplementary card during Malaysia Budget 2010, some people already started to reduce the quantity of their credit card.

Cancel your credit card?

By the way, this is a special service tax. Even though you have a free for life credit card that you don’t need to pay annual fee, you still need to pay RM50 annual service tax to Malaysia government. (Refer here) Malaysia Prime Minister, Datuk Seri Najib Tun Razak said that RM50 for credit card not a big deal to Malaysians. And they are getting the extra RM1,000 tax relief. (refer here)

Does this RM1000 tax relief really help Malaysians? Lets do some calculations… For example, I have 2 banks’ credit cards (both MasterCard and VISA). (This is very common to all Malaysians, some have even more than 10 principal credit cards). So I need to pay 4 x RM50 credit card service tax, total == RM200. And I am in tax range of 13% which mean that I can only get RM130 back from RM1000 tax relief. In the end, I need to pay RM70 (RM200 – RM130) more back to Malaysia government. So who is benefit from this? Malaysia government or Malaysians?

For me, I am sure that I will cancel extra principal cards and supplementary cards to avoid paying more tax. Maybe reduce to 1 MasterCard and 1 VISA credit card. How about you?

• 0 Comments

With the announcement of Reserve Bank of Australia (first of G-20 central banks) to raise key cash rate by 25 basis points to 3.25%, this mark the worst danger for the economy had passed. Bank Negara Malaysia (BNM) should hold the Overnight Policy Rate (OPR) until the end of the year. But most of the financial stocks price had gone up before the adjustment.

For example, CIMB stock price increased 16% in a month from RM10.48 to RM12.22. And most of other FBM KLCI financial stocks are performing very well too. However, have them gone too far? Anyway, people don’t care much about it. They just know that when the bull is running, keep buying. Just make sure that you know how to sell when bear is backed.

By the way, when the central banks increase interest rate == financial stock will go up.

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My first Innity Performance Network review mentioned the revenue was low. And I stopped using it after 2 weeks. Then, I received some emails ~ Performance Campaigns that most of them are CPC and only 1 CPM. So I decided to have Innity ads to run for 1 month.

Innity September 2009 revenue

As you can see, the Innity revenue was very low at RM3.00 per day in first 2 weeks. And then spiked up to RM20.00 per day. Finally dropped again during end of September. Well, here is the explanation. There are only CPC ads running in first 2 weeks. As I mentioned before, image CPC click rate was extremely low ~ 0.1%. And I don’t like it. Then RM20.00 per day was caused by the CPM ad. Yeah… That’s a very high price CPM ad ~ priced at RM10++ CPM but with frequency cap. It was scheduled to run for 41 days but ran out of limit within 14 days. Innity ad inventory is low. There were only 3-5 CPC ads and 1 CPM ad ran on September.

Overall, Innity does bring revenue but not in a consistent way. If no more CPM ad running, I will take out Innity Ad codes because image CPC click rate really LOW. I prefer steady revenue.

• 4 Comments