Discount chain Eco-Shop seeks RM419 million in Malaysia IPO
[KUALA LUMPUR] Malaysian discount retail chain Eco-Shop Marketing plans to raise RM419 million (S$127 million) in what will be Malaysia's biggest market debut in eight months.
Eco-Shop will look to sell 347 million shares at RM1.21 apiece in a public listing, valuing the company at RM7 billion, according to a prospectus released on Tuesday (Apr 29). The company plans to raise an additional RM623 million via a share sale to institutional investors.
Maybank Investment Bank, a unit of Malaysia's biggest lender, is the sole underwriter of the IPO. The stock is expected to start trading on May 23.
The dollar-store operator plans to use the proceeds from the share sale to add 70 stores per year for the next five years, essentially doubling its store count, chief executive officer Jessica Ng said during the launch of the prospectus in Malaysia's Selangor state.
'In the current cost environment, our business model has never been more relevant,' she said.
Established in 2003 by Lee Kar Whatt, Eco-Shop sells the majority of items in its stores for RM2.60. It operates 350 stores across Malaysia and has a market share of 68 per cent in the country's discount-store sector.
Eco-Shop's IPO underlines the strength of Malaysia's consumer sector – which also attracted the country's biggest listing last year in mini-mart chain 99 Speed Mart Retail Holdings, which raised over US$530 million in Malaysia's biggest IPO in seven years.
Malaysia's consumer spending is expected to see further strong growth in 2025, according to Fitch Solutions' BMI in a recent report. Household spending is expected to grow 5.2 per cent this year, according to the report, marking a return to pre-pandemic levels of growth. BLOOMBERG
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AsiaOne
9 hours ago
- AsiaOne
9 best personal loans in Singapore with lowest interest rates (June 2025), Money News
If you're in urgent need of money, but are too paiseh to borrow from your family and friends, your best bet is probably a personal loan. With a personal loan, you borrow cash from a bank or financial institution and pay them back in fixed instalments over an agreed period. But you'd typically need to meet a couple of eligibility requirements before you get it approved. Stuff like your income and credit history. In this article, I'll break down the key terms you'll come across frequently while browsing loan listings — plus highlight the best personal loans currently available in Singapore. Psst… I'm also going to let you know about the great promotions you can capitalise on if you apply for some of these personal loans with MoneySmart. So keep reading! Note: Interest rates are approximate and may vary based on individual credit profiles and prevailing market conditions. Please consult the respective banks for the most accurate and up-to-date information. Best personal loans in Singapore (June 2025) At a glance: Best personal loans in Singapore What do interest rate, EIR and processing fees mean? DBS/ POSB Personal Loan Trust Instant Loan CIMB Personal Loan UOB Personal Loan Standard Chartered CashOne HSBC Personal Loan GXS FlexiLoan Citibank Quick Cash with Ready Credit (New Customers) OCBC ExtraCash Personal Loan Which personal loan should you choose? Term loan vs credit line-which should you choose? Being in debt is not fun 1. At a glance: Best personal loans in Singapore (June 2025) Here are the current starting interest rates on offer from the most popular personal loan providers in Singapore. We'll use the example of a Singapore citizen earning $3,500 a month, who wants to borrow $10,000 and repay it over three years. Personal loan Interest rate and Effective Interest Rate (EIR) Processing fee Monthly repayment Eligibility DBS/POSB Personal Loan 1.99% (EIR 4.17%) 1% $294 – Singaporean/PR– Foreigners with existing Cashline and/or Credit Card account– Min. $20,000 annual income – Existing DBS/POSB customers Trust Instant Loan 2.22% (EIR: 4.22%) 0% $296 – Singapore Citizen/PR: $30,000– Foreigner: $60,000 – Must have a Trust credit card CIMB Personal Loan 2.68% (EIR 5.06%) 0% $319 – Singapore Citizen/PR: $20,000 – Malaysian (residing in SG): $30,000 UOB Personal Loan 2.88% (EIR 5.43%) 0% $302 – Singapore Citizen/PR: $30,000 – UOB Credit Card/CashPlus customer Standard Chartered CashOne 1.90% (EIR: 3.63%) 0% $294 – Singapore Citizen/PR: $30,000 – Foreigner (with EP): $90,000 GSX FlexiLoan 2.88% (EIR 5.45%) 0% $303 – Singapore Citizen/PR: $20,000 HSBC Personal Loan 2.20% (EIR: 4.00%) 0% $296 – Singaporean/PR: $30,000 (salaried workers)$40,000 (self-employed or commission-based workers) – Foreigner (with EP): $60,000 Citi Quick Cash with Ready Credit (New Customers) 3.45% (EIR: 6.50%) 0% $306 – Singaporean/PR: $30,000– Foreigner: $42,000 Applicable to new Citi Credit Card or Citibank Ready Credit account holders only. OCBC's ExtraCash Personal Loan 5.42% (EIR 10.96%) For income $20,000 – $30,000 p.a.: $100. For income above $30,000 p.a. : $200 or 2 per cent of the approved loan amount, whichever is higher $323 – Singaporean/PR above 21 years old: $20,000 – Foreigner above 21 years old: $45,000 2. Hold up. What do interest rate, EIR and processing fees mean? There's quite a bit of jargon here, so let's go through some points of confusion that may be swimming around in your head. Interest rates Notice that interest rates are quoted as "from X per cent" instead of being stated simply as "X per cent"? That's because personal loans are pretty dynamic as they all depend on factors such as your credit history and the loan amount. EIR EIR stands for Effective Interest Rate. Taking into consideration other fees (like processing fee; see next point) and the loan repayment schedule, it is a more accurate reflection of the cost of borrowing than the advertised interest rates. Processing fees This is the main hidden cost of personal loans and is worth highlighting. The processing fee is deducted from the principal — meaning, for a $10,000 loan with a $100 (or one per cent) processing fee, you get only $9,900 in cash. As a borrower, you might not "feel" it, but it does eat into your funds and increase the cost of borrowing. Now, let's walk through the nine featured personal loan packages. 3. DBS/POSB Personal Loan The DBS/POSB personal loan is only open to existing DBS/POSB customers. If you already have (1) a DBS/POSB Cashline account or have a DBS/POSB credit card and (2) credit your salary into a DBS or POSB deposit account, you can get the cash disbursed instantly. The loan is open to Singaporeans and PRs, as well as foreigners with DBS/POSB Cashline or credit card accounts. You must be aged 21 to 70 years with a minimum annual income of $20,000 — this opens up DBS/POSB personal loans to include slightly older groups of people and lower income earners compared to other banks. Like the Standard Chartered CashOne loan, you don't need to earn a regular salary to be eligible for this loan. Self-employed individuals and commission earners can also apply. DBS's personal loan promises interest rates as low as 1.99 per cent. There is a processing fee of one per cent, bringing the lowest possible EIR to 4.17 per cent. Loan tenures of six months to five years are available. Do note that these are the lowest possible rates and the actual interest rate depends on what DBS is prepared to extend to you. Note that there's also a three per cent unlimited cashback deal if you apply now. 4. Trust Instant Loan (Trust personal loan) When they say "instant", they mean it. Trust's personal loan, called Trust Instant Loan, disburses cash to you in just 60 seconds with the Trust credit card. This is how it works: You have a Trust credit card with a certain available credit balance at any one point in time. The Trust Instant Loan converts a portion of that balance into cash for you. Spend that cash on anything you want! The Trust Instant Loan is open to all Trust customers. Given how it works, as I just explained above, you do need to have a Trust credit card to be eligible. But this isn't a bad thing — for one thing, it makes repaying the loan seamless. Each month, you'll see your loan instalment charged to your credit card bill. To pay the instalment, simply pay through your credit card statement via your Trust App. From now till June 15, the Trust Instant Loan is also extra affordable with an interest rate starting from just 2.22 per cent p.a. (EIR from 4.22 per cent p.a.) — down 0.27 per cent. They also charge no processing fees, annual fees, or the like. However, there is a three per cent early repayment fee on your remaining loan amount if you repay the rest of your loan early. The Trust Instant Loan is open to Singapore Citizens, PRs, and Foreigners aged 21 to 65 years old. You could be a salaried worker, commission-based, or self-employed as long as your annual income is $30,000 for Singaporeans or $60,000 for Foreigners. Trust Instant Loan x MoneySmart promotion Snag awesome welcome gifts when you apply for a Trust Instant Loan with MoneySmart. Up to $1,200 cash via PayNow Apple iPhone 16 Plus (worth $1,399) Apple iPad Air (worth $899) Sony PS5 (SLIM) Digital (worth $669) Nintendo Switch OLED (worth $439) PLUS $10 FairPrice E-Vouchers from Trust (if you sign up with referral code MONEYSMT). New-to-Trust customers only. T&Cs apply. 5. CIMB Personal Loan The CIMB Personal Loan is another personal loan that comes with no processing fees. Its interest rate comes in at 2.68 per cent p.a. (EIR 5.06 per cent p.a.), making it the next lowest after Trust. You also get flexible loan tenure options of 12, 24, 36, 48 or 60 months. On top of low interest rates, CIMB is also offering a cashback promotion to sweeten the deal. The cashback you'll earn offsets some of the interest you'll be charged, up to a maximum of $2,800 cashback. Tenure Approved Loan Amount Cashback Earned 1 or 2 years Any amount No cashback 3, 4 or 5 years <$10,000 $10,000 – < $15,000 $50 $15,000 – < $30,000 $300 $30,000 – < $50,000 $600 $50,000 – < $80,000 $750 $80,000 – < $150,000 $1,000 $150,000 – < $190,000 $2,000 > = $190,000 $2,800 As far as eligibility goes, the CIMB Personal Loan is fairly standard. It's open to Singapore Citizens and Singapore PRs with a minimum annual income of $20,000, and to Malaysians earning at least $30,000 a year. You'll also need to be 21 to 70 years old — that maximum age sits between the Citibank and DBS personal loan age limit. There's no prerequisite to have a CIMB Bank Account or CIMB credit card before you apply, so go ahead as long as you meet the criteria above. Like any personal loan, you'll incur a penalty fee if you try to repay it early. For the CIMB Personal Loan, this fee is three per cent of the outstanding loan amount or $250, whichever is higher. CIMB Personal Loan x MoneySmart promotion Apply for a CIMB Personal Loan via MoneySmart and get gifts like: Up to $1,220 cash via PayNow Apple MacBook Air (13-inch)(worth $1,499) Apple iPhone 16e (worth $949) Sony PS5 (SLIM) Digital (worth $669) T&Cs apply. 6. UOB Personal Loan UOB's personal loan is only open to existing UOB credit cardholders or CashPlus customers who are Singaporeans, PRs aged 21 to 65. You'll also need to be a salaried worker earning at least $30,000 a year. Not an existing UOB customer? You'll have to get a UOB credit card or CashPlus to apply for a UOB Personal Loan. The interest rate is from 2.88 per cent p.a. for loan periods of 12, 24, 36, 48 or 60 months, with a 5.43 per cent p.a. EIR. While UOB used to only waive processing fees for loan periods 24 months and up, processing fees are now waived for all loan periods. If you're an existing UOB customer, you can get instant approval when you apply for your personal loan online. To further sweeten the deal, from now till June 30, you can get up to two per cent cash rebates for approved personal loans worth least $15,000 with repayment period between of three to five years. UOB Personal Loan x MoneySmart promotion (Gift fulfilment as fast as four weeks) Thinking of applying for a UOB Personal Loan? Apply via MoneySmart now to get a $500 bonus on top of gifts such as: Up to $1,200 cash via PayNow Apple iPhone 16 Plus (worth $1,399) T&Cs apply. 7. Standard Chartered CashOne Standard Chartered CashOne personal loan is open to Singapore Citizens, PRs and foreigners with a Singapore Employment Pass aged 21 and above. The barriers to entry for the Standard Chartered CashOne personal loan have gone up slightly. The minimum annual income requirements are now $30,000 for Singaporeans and PRs and $90,000 for foreigners. You also don't necessarily need to be a salaried worker to apply — Standard Chartered is cool with salaried employees, variable/commission-based employees, and even self-employed individuals. You can apply for this personal loan online by signing in through Singpass and receive your loan disbursement within 15 minutes — it's super easy. There's no need to be an existing Standard Chartered customer to get this personal loan. So, it's fast — but is it also affordable? Standard Chartered charges an initial annual fee of $199 (deducted from your approved loan) for any loan tenure between 1 to 5 years. From the second year onwards, you won't have to pay any more annual fees — UNLESS you miss any instalments, in which case you will pay $50 in annual fees for that year. Plus the late payment fee of $100. If you pay your full monthly instalment on time for the first 6 months, you won't have to worry about late penalties. After that, you'll have the flexibility to pay just the minimum-whichever is lower: $50 or one per cent of your approved monthly principal. So taking the $199 annual fee into consideration, I'd say CashOne is more worthwhile if you're taking out a big loan. Interest rates are advertised as starting from 1.90 per cent, working out to an EIR of 3.63 per cent and above. In reality, interest rates are personalised, so yours might differ from this example. Take up this loan now and you'll also stand a chance to win in Standard Chartered's exciting giveaway-featuring prizes like a getaway for two to Paris and sleek Samsonite luggage. Standard Chartered CashOne x MoneySmart promotion Apply for a Standard Chartered CashOne loan via MoneySmart to get attractive gifts like: Up to $1,200 cash via PayNow Apple MacBook Air (13-inch)(worth $1,499) Apple iPad (11-inch)(worth $899) Sony PS5 (SLIM) Digital Edition (worth $669) T&Cs apply. 8. HSBC Personal Loan HSBC's personal loan is open to Singaporeans and PRs aged 21 to 65 years old with an annual income of $30,000 and above for salaried workers, and $40,000 for self-employed or commission-based workers. Foreigners must earn at least $60,000 a year and have an employment pass with at least 6 months' validity. The best part about HSBC's personal loan is its long loan tenure of up to seven years — currently the longest loan tenure in Singapore. So if you need to borrow a large sum but can't afford high monthly repayments, HSBC's personal loan is definitely one you should consider. HSBC has dropped their promotional interest rates even further now starting from 2.20 per cent p.a. with an EIR from 4.00 per cent p.a. with no processing fees. Remember, however, that actual interest rates will vary from person to person. Another factor to consider is that HSBC's personal loan comes with an annual fee of $120, and only the first year's fee is waived. Don't miss your payments, or you'll be subject to a $120 late payment fee. HSBC Personal Loan x MoneySmart promotion Ready to take an HSBC Personal Loan? Apply via MoneySmart to score gifts such as: Up to $1,000 cash via PayNow 12,345 SmartPoints (Use points to redeem epic gifts from the rewards store) T&Cs apply. 9. GXS FlexiLoan GXS is a digital bank that's 60 per cent owned by Grab and 40 per cent owned by Singtel. Now, don't be dissuaded by the idea of a digital bank. Like any regular bank, GXS offers customers a personal loan-and a pretty good one at that. With a loan tenure between two and 60 months, GXS FlexiLoan interest rates start from 2.88 per cent p.a., with an EIR of 5.45 per cent p.a.. However, from May 21 to June 8, you could enjoy one per cent OFF your Interest Rate (awarded in the form of cashback) when you apply for a S$10,000 loan with 12 month tenure with the code "MSDEAL". On top of that, GXS FlexiLoan doesn't charge any annual, processing, early repayment or late fees — something almost unheard of when it comes to loans from your traditional banks. You heard that right, repay your loan early with no extra charges! However, GXS will charge you late interest if your repayments are late, so you won't get off scot-free. One downside to the GXS FlexiLoan is that foreigners aren't eligible. It's only for Singapore Citizens and Singapore Permanent Residents between 21 and 65 years old. The minimum annual income is $20,000. GXS FlexiLoan x MoneySmart promotion (Gift fulfilment as fast as 2-3 months) Apply for a GXS FlexiLoan via MoneySmart and get your hands on a bonus $500 cash along with some incredible welcome gifts: Up to $1,200 cash Apple MacBook Air (13-inch)(worth $1,499) T&Cs apply. 10. Citibank Quick Cash with Ready Credit (New Customers) I'm going to preface this by saying that the 3.45 per cent (EIR from 6.5 per cent) interest rate for the Citi Quick Cash personal loan is only available to customers who are completely new to Citibank loans. If you already have a Citibank loan, you'll be given a higher interest rate. The plus point for this one is definitely the ease of getting your funds. You'll be easily able to convert the credit balance on your Citi Credit Card or Citibank Ready Credit account into cash. Just log into the Citi Mobile App, key in the amount of cash you need and you can get the funds pretty much instantly. Citi Quick Cash is open to Singapore Citizens and PRs (salaried or self-employed) with a minimum annual income of $30,000, and foreigners with an annual income of at least $42,000. The eligible age range is 21 to 65 years. With Citibank's Quick Cash personal loan, you can choose a tenure of 12, 24, 36, 48, or 60 months-all with zero processing fees. You'll get a 3.56 per cent interest rate on Citibank's personal loan with a shorter one-year tenure, or 3.45 per cent if you intend to extend your loan repayment to 3 years. While the interest rates differ according to tenure period, you'll get an EIR of 6.5 per cent for all. That said, don't take our word for it. Rates are customised, so what you get might not be exactly the same as the above screenshot. Citibank Quick Cash with Ready Credit x MoneySmart promotion Apply for a Citibank Quick Cash with Ready Credit Loan today and enjoy $50 cash via PayNow 500 SmartPoints T&Cs apply. 11. OCBC ExtraCash Personal Loan While the OCBC ExtraCash Personal Loan has the highest interest rates (from 5.42 per cent p.a. / EIR from 10.96 per cent p.a.) on this list, it does come with some perks that might make it a solid choice for some. If you need a large loan, you can borrow up to six times your monthly income, with fixed repayments spread over 12 to 60 months. Like many of the other loans mentioned, it offers fast disbursement when you sign up via Myinfo. Plus, it has a relatively low entry requirement — just $20,000 in annual income for Singaporeans and PRs. You'll also be able to easily see a full breakdown of all your outstanding payments via internet banking. However, punctual repayments are a must. A late payment will set you back $80, and if you decide to restructure or repay early, you'll be charged a three per cent fee on your outstanding balance. So, be sure of your loan tenure before committing! Cheapest personal loans – Standard Chartered CashOne personal loan– Trust Instant Loan – DBS or POSB Personal Loans – HSBC Personal Loan Personal loans with fastest disbursement – Trust Instant Loan– UOB Personal Loan– GXS FlexiLoan – CIMB Personal Loan Personal loan with longest repayment tenure – HSBC personal loan Personal loans to consider if you want to take a huge amount – Standard Chartered CashOne personal loan – OCBC ExtraCash Personal Loan Whatever personal loan package you choose, opt for the smallest loan amount and shortest term you can comfortably manage. This will keep your interest payments to a minimum. Remember that the actual interest rate a bank offers you will depend on factors like your credit history, how much you want to borrow and for how long. So if you don't get offered the lowest advertised interest rates with one bank, you might want to compare that with what the other banks are willing to offer you. There are certain groups of individuals that may have a harder time taking out a personal loan. Older individuals: If you're above 65 years old, DBS/POSB and CIMB will let you apply for personal loans up to the age of 70 years. Those earning an annual income below $30,000: Most of the loans I've listed above have a minimum requirement of about $20,000 annual income, so you have plenty of options if this pertains to you. Commission-based workers or self-employed individuals: Citibank Quick Cash, HSBC Personal Loan, DBS Personal Loan and Standard Chartered CashOne are good options. Some other banks may only accept salaried workers. 13. Term loan vs credit line — which should you choose? While researching personal loans, you might have come across many different loan types, some of which do not seem to fit what we described above. MoneySmart lists only term personal loans, which is when you borrow a fixed sum with a fixed repayment plan that you agree on before you see the cash. We usually recommend these loans because they have much lower interest rates. You can pay back slowly and steadily at a pace comfortable to your financial situation. Many banks also offer a personal line of credit — sometimes called a credit line, revolving loan, or even "flexible repayment loan". This is a pre-approved amount of money you can cash out in part or whole, but you need to repay it ASAP or else face sky-high interest rates. Don't fall for it unless you're absolutely confident you can pay the money back immediately. These days, most banks base their personal loans on either your personal line of credit or credit card limit. So you will need either a credit card or credit line to get the loan. However, it is still considered a term loan if it comes with a structured repayment plan. But before you sign up, understand that your credit cards with this bank will be as good as dead because you'll have effectively "spent" your credit on a cash loan. 14. Being in debt is not fun… But it can be prevented. If you must take out a loan, channel all your energies into paying it off on time to avoid late charges. In the meantime, re-examine your income and budget, making a note of everything you spend on, so you won't have to resort to loans again. Ideally, you should draw up a budget that gives you enough leeway to set aside some cash for the future without starving to death. You should also build up an emergency fund worth a few months' expenses. If you're hit with unforeseen circumstances, you can dip into this fund instead of having to take a loan. It's also a good idea to know what types of insurance you need. We recommend hospitalisation insurance at a bare minimum, and life insurance if you have dependents. Being sufficiently insured ensures that you don't get hit with huge bills if the unexpected happens. [[nid:718015]] This article was first published in MoneySmart .
Straits Times
2 days ago
- Straits Times
As US tightens visa rules, Chinese students may turn to Malaysia
(From left) Chinese students Mr Li, Mr Pei and Ms Lou at the USM campus in Penang. PHOTO: THE STAR/ASIA NEWS NETWORK As US tightens visa rules, Chinese students may turn to Malaysia GEORGE TOWN, Penang - President Donald Trump's order to tighten visa rules in the United States for students from China may benefit universities in Malaysia. Mr Pei Qi, a 42-year-old English teacher from China who is pursuing a postgraduate degree at Universiti Sains Malaysia (USM), said he has noticed more of his students in China considering Malaysia over the US. 'Many of my students who initially planned to go to the US are now considering Malaysia for further studies. 'One of them gave up on her US application because of visa delays and uncertainty, and then applied to Monash University Malaysia and USM,' he said. Mr Pei said that the student and her mother visited Penang and were drawn to the island's safety, lifestyle and international feel. 'They were worried about whether they could get into a public university here, but the affordability and global rankings of Malaysian institutions have prompted them to apply,' he said, adding that Malaysia's strong ties with China is an important factor. 'Malaysia takes education seriously. I see effort going into improving curriculum, research and global rankings,' Mr Pei added. He recalled seeing China's content creators on Douyin (China's version of TikTok) mentioning that Malaysia has become the seventh most popular study abroad destination for students from China. Mr Pei said the United States' new policy against students from China had affected the global standing of the US. 'I see real, long-term damage to America's reputation as the world's leader,' he said. 'The global landscape has changed. The US is no longer the only option for high-quality, English-medium education. 'It's sad to lose access to the US, but it's not the end of the road.' First-year Bachelor of Arts in English student Lou Xiaoxiao, 20, said studying in the US is still a dream for many from her homeland. 'It's still the top choice for a lot of us because of its academic resources and reputation. At the moment, I can say Malaysia is more of an option,' she said. Ms Lou added that visa issues and parents' concerns about global tensions do play a role and more families are looking at safety and cost when making decisions. She feels that China's families are prioritising 'cost-effectiveness' and 'a sense of security' in their decision-making regarding their children's studies overseas. Another student, Mr Li Hehe, 25, said despite the visa crackdown, he felt most Chinese families still hope to send their children to the US, believing strongly in the value of an American education. 'I've worked in the study abroad consultancy field. Students and parents who choose the US believe in it deeply. 'Even though the US might be the most expensive option, the choice of the US often reflects a serious commitment,' said Mr Li, who is in his final year of a Bachelor's degree in urban and regional planning at USM. On May 28, US Secretary of State Marco Rubio confirmed that some Chinese students would have their visas revoked, especially those studying in sensitive fields or linked to the Chinese Communist Party. China is the second-largest source of international students in the US after India. More than 270,000 students from China enrolled in American institutions in the 2023–2024 academic year, about a quarter of all international students there. USM lecturer Dr Kamaruzzaman Abdul Manan, from the School of Communication, said Malaysian universities should seize the opportunity. 'China sends more students abroad than any other country. Even a 10% to 15% drop in those heading to the US means thousands will look for other destinations,' he said. He added that Malaysia's strong education system and position in Asean made it an ideal choice for students from China. 'Having more students from China can raise a university's profile, attract funding and increase global partnerships,' he said. THE STAR/ASIA NEWS NETWORK Join ST's Telegram channel and get the latest breaking news delivered to you.
AsiaOne
3 days ago
- AsiaOne
Queues at VEP application centres in Singapore, JB after news of enforcement from July 1 , Singapore News
SINGAPORE/JOHOR BAHRU — Waves of Singapore motorists showed up at Vehicle Entry Permit (VEP) application and installation centres in Singapore and Johor Bahru a day after Malaysia announced that enforcement of the VEP will start on July 1. Singapore-registered vehicles entering the country from that date without a valid VEP will be fined RM300 (S$91), Malaysia's Transport Minister Anthony Loke said on June 4. The drivers will have to pay the fine and complete their VEP registration before leaving Malaysia. On June 5, motorists showed up at VEP centres in Woodlands in Singapore and Danga Bay in Johor Bahru because they needed help with signing up on the online portal or had problems activating their radio frequency identification (RFID) tags. VEP-registered vehicles need to have RFID tags installed and activated in order to make payments for Malaysian expressway tolls and the road charge when entering Johor via the two land checkpoints. The counters in Malaysia are operated by TCSens, Malaysia's ministry-appointed vendor for handling VEP registrations; while the one in Singapore is run by My VEP, a separate company, in collaboration with TCSens. Between 9.30am and 10.30am, around 40 people were seen queueing outside the My VEP office in Woodlands Industrial Park. They include motorists collecting their VEP RFID tags and those needing help with applications. Those without appointment slots were turned away. Around lunchtime at the TCSens inquiry centre in Danga Bay, more than 60 motorists were seen queueing to seek assistance from staff to troubleshoot their VEP registrations. The centre allows walk-in inquiries. Latiff Saleh, 64, who did not have an appointment, left the Woodlands centre in Singapore without getting any assistance. He needed help to terminate the existing VEP registration of his car, which was tagged to its previous owner, as he was not able to do so online. On hearing the June 4 announcement, he tried to log in to the VEP portal to restart the application process but faced difficulties. He had not decided whether to try his luck at Danga Bay soon or wait for the rush in Woodlands to subside before getting an appointment. Inquiries had been decreasing before the June 4 announcement, and appointment slots had been available daily since March, said Ng Poh Heng, manager of My VEP. But by the morning of June 5, all the slots until June 20 had been taken up, checks by The Straits Times found. Esther Chua, 50, received her VEP RFID tag earlier in 2025 but found that it could not be fitted to her car as required. The finance executive did not get around to exchanging the tag until after hearing the latest news. "The Malaysian side seems to keep changing their mind, so I didn't feel the need to get it fixed (so soon)," she said at Woodlands on June 5. The latest move to enforce the VEP comes eight years after the plan was first mooted in 2017. Its implementation was shelved twice, in 2019 and again in 2020. It was rolled out in October 2024, but foreign vehicles found without valid VEPs were given reminders to get registered and not the Danga Bay inquiry centre on June 5, waiting times were long, with motorists saying they began queueing from as early as 6am for the counter to open at 9am. One of the motorists, a 76-year-old Singaporean retiree who wanted to be known only as Chong, said that his VEP application was rejected in October 2024 because it was missing insurance documents. He said he never heard back after he replied with the documents. "Suddenly, they said they are going to enforce (the requirement) this July. This is very troublesome," he said, adding that the announcement on June 4 caught him by surprise. Singaporean interior designer Andrew Ho, 44, who arrived in Danga Bay at 9am, waited five hours to get help from TCSens staff. His VEP RFID tag could not be read at the Malaysian Customs gantry. A TCSens staff member at Danga Bay told ST that by 2.30pm, he had already assisted more than 100 motorists, compared with the daily number of 130 cars that the centre had handled in the past few months. Loke told reporters on June 4 that foreign-registered private vehicles have had ample time to be VEP-registered since the call to do so was made in May 2024. The minister added that 231,018 Singapore-registered private individually owned vehicles have signed up for the VEP, with 15 per cent yet to activate the RFID tags. Meanwhile, skip-the-queue VEP services in Singapore are seeing an uptick in inquiries. These services apply for the VEP on the motorists' behalf, saving drivers the hassle of making the online application or queueing at the counters. Derrick Heng, director of Radiant VEP, which offers skip-the-queue services, said inquiries have spiked since the latest announcement, after getting around 10 queries daily from the beginning of 2025. "We received about 30 inquiries on June 4, and our office (in Kaki Bukit) was full, with motorists coming in to apply for the permits at the last minute," he said. Jason Koay, director of accounting and secretarial firm Bizwise Management, which advertises its VEP application assistance service on Carousell, said he helped with 50 applications on June 5, up from two to three inquiries a day since March. A TCSens spokesman urged Singaporean motorists to register promptly for the VEP through the website, as it is anticipating a surge in applications and appointments at its four centres in Johor Bahru and Singapore. "Motorists must ensure that the VEP RFID tags are securely fixed on their vehicles and activated for use once they have received them," he added. [[nid:718706]] This article was first published in The Straits Times . Permission required for reproduction.
