Proposed FINAS Act Amendment Aligns With Technological Advancements
In a Facebook post tonight, Teo said the proposed amendment to the Act was an important step to keep pace with the evolving technological landscape and current trends in digital content production.
'With the commitment and cooperation of all parties, I am confident that the country's creative industry can grow in a more rapid, inclusive and sustainable manner.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Rakyat Post
29 minutes ago
- Rakyat Post
RM580K Property, RM1,500 Left To Live: The Malaysian Homeownership Reality Check
Subscribe to our FREE A viral social media post about a Malaysian worker earning RM5,500 monthly purchasing a RM580,000 property has ignited fierce discussions about financial literacy and homeownership affordability across local online communities. The controversy began when a concerned individual shared his friend's story via the Facebook page 'Boom Go Employee,' detailing his friend's recent property purchase—a 900-square-foot, 3-bedroom apartment in Malaysia. What caught everyone's attention wasn't just the purchase itself, but the stark financial reality behind it. According to the post, here's how the friend's monthly finances break down: Net income: RM5,500 Car loan: RM700 PTPTN (education loan): RM180 New property monthly payment: RM2,600 The real estate agent calculated the Debt Service Ratio (DSR) at 63.27% and declared it 'qualified' for bank approval. The friend enthusiastically agreed to proceed with the purchase. Why RM2,600 Monthly Payment Becomes RM3,000+ But the original poster wasn't convinced. He broke down the hidden costs that many first-time buyers overlook: Maintenance fees: RM297/month Sinking fund: RM29.70/month Utilities: RM150-200/month Internet: RM100/month Annual property tax: Several hundred ringgit After accounting for all expenses, the friend would have approximately RM1,500 left monthly for food, daily expenses, social activities, and savings. The poster wondered how his friend would manage financially, especially considering the costs of renovation and unexpected expenses. He said the agent mentioned he could withdraw from his EPF Account 2 for renovation. So basically, he has no savings for renovation except for the RM20,000 he's saved up. The poster, who owns an 847-square-foot property himself, shared his own maintenance fee bill, showing charges exceeding RM3,000 for accumulated fees and late payment interest, highlighting the often-overlooked ongoing costs of property ownership. Public Reaction: Divided Opinions The post has generated polarising responses from netizens: Team 'Too Risky': 'Salary RM5.5K buying RM580K property – I'm speechless' '35 years is a long time; many things can happen to your career' 'Don't bite off more than you can chew' Team 'It's Doable': 'No problem with utilities and rent – you'd have to pay those anyway unless you never buy property' 'Better to buy at RM2,500 monthly and rent out 2 rooms for RM1,300 each – at least the property is yours' 'His parents might help cover costs if needed' Beyond Individual Choice: The Market Forces at Play The case highlights several critical issues in Malaysia's property market: Aggressive Sales Tactics : Real estate agents focusing solely on DSR approval without considering total living costs Financial Literacy Gap : Young buyers not fully understanding the true cost of homeownership Social Pressure : The cultural push toward property ownership regardless of financial readiness Hidden Costs : Maintenance fees, sinking funds, and other expenses that can add hundreds of ringgit monthly The poster's analysis reveals that the friend's actual monthly property-related expenses could reach RM3,176 – significantly higher than the RM2,600 mortgage payment alone. This doesn't include renovation costs, which could easily exceed the friend's RM20,000 savings for basic kitchen cabinets and wardrobes. 'The agent isn't wrong – they're just doing their job,' the poster concluded. The DSR calculation passes, and the bank approved it. But if you face financial problems later, don't blame others – blame yourself for not calculating properly. The Waiting Game: A Cautionary Tale for Malaysian Homebuyers While homeownership remains a significant milestone for many Malaysians, this case serves as a stark reminder that qualifying for a loan and being able to afford a property comfortably are two very different things. As property prices continue rising faster than salaries, the debate over what constitutes responsible borrowing versus financial overreach shows no signs of cooling down. The friend's property is expected to be ready next year. Whether his optimism about salary increases and financial management proves justified remains to be seen – but his story has already become a cautionary tale echoing across Malaysian social media. READ MOR E: READ MORE : READ MORE : Share your thoughts with us via TRP's . Get more stories like this to your inbox by signing up for our newsletter.
Rakyat Post
29 minutes ago
- Rakyat Post
The End Of An Era: How Penang Lost Its Most Beloved School Uniform Shop
Subscribe to our FREE Walk through the narrow streets of George Town, Penang, and you'll hear the stories before you even reach Jalan Magazine. Stories of yellow buses from Jelutong packed with families heading to one destination. Stories of mothers dragging six kids across town because there was only one place that mattered. Stories of uniforms so legendary that wearing them was like sporting designer labels. Come 31 July, those stories will become memories. Kimnovak, the iconic school uniform shop that's been the backbone of Malaysian education fashion since 1969, is closing its doors forever. From Barbershop to School Uniform Empire The business has humble beginnings – it started as a barbershop by the mother of the owner, Lim Kwee Heng. Recognising an opportunity in the early days, when few businesses sold school uniforms, she transformed the barbershop into a specialised school uniform store. Lim and his 70-year-old wife, Wong Bee Lian, later took over the family business. Through dedication and continuous improvements, they built Kimnovak into a well-known brand. Every year, before school term begins, their shop would be packed with parents and children buying uniforms. Kimnovak owner Lim (right) and his wife Wong have been carefully sewing school uniforms, with all fabrics imported from overseas. (Pix: Kwong Wah) More Than Just Fabric For 56 years, the Guitar brand logo stitched into every collar wasn't just a label—it was a badge of honour. 'Those days, wearing Guitar brand uniform is equal to wearing LV,' writes David Chew Chee Kian in a Facebook comment that's racked up 59 likes and counting. He's not exaggerating. The social media tributes pouring in read like love letters to a lost era. Zafran Zufar shopped there from Standard 1 in 1987 through Form 5 in 1997, calling it a 'legend shop.' Vijay Kumar's been buying uniforms there since 1979. Lina Yeoh's family story spans three generations—she started shopping there when her kids were small, and just three years ago, she brought her granddaughter to buy her Standard 1 uniform. 'My two generations ❤️ shop. Me & my children,' writes Mageswari Krishnan. 'Going to miss you Kim Novak. Happy retirement.' The Guitar That Defined Generations Kimnovak's closure represents more than the end of a business—it's the end of an era when quality mattered more than convenience, when families made shopping an event, when a guitar logo on a school uniform could make a kid feel special. The comments section of the closure announcement reads like a digital wake, filled with equal parts gratitude and sadness. 'Best quality colour no fading,' Joyce Loh testifies. Dorothy Lim puts it bluntly: 'A bit more expensive but quality no other shops selling uniforms can compare.' But here's the thing that made Kimnovak special: they never branched out. While other businesses chased expansion, this single shop on Jalan Magazine became a pilgrimage site. Families would travel from Butterworth by bus and ferry just to shop there. What We're Really Losing Muhammad Yusuf remembers the ritual: 'We will take the yellow bus from Jelutong and go here for shopping.. after that we will go to Komtar 4th floor to eat that famous Nazir nasi ayam.' The Guitar logo itself became a conversation starter. 'I loved when we could afford getting new uniforms with the guitar logo tags on them,' recalls Viv Adram. Used to just love looking at that logo but had so many questions… 'why guitar' hahaha 😂 Then there's the comment that breaks your heart: 'My child belum born… Haiya… No chance to tell them mummy use to go here liao…' writes one parent, realizing their future children will never experience what they took for granted. Looking at the old signboard that has been in business for many years, Lim and his wife Wong couldn't help but feel extremely reluctant to part with it. (Pix: Kwong Wah) The Perfect Storm The closure isn't sudden—it's the result of a perfect storm that's been brewing for years. The owners are ageing out, no successor is waiting in the wings, and the constant changes in school uniform regulations have made the business increasingly challenging to navigate. It's a story playing out across Malaysia, where family businesses that once anchored communities are disappearing. But Kimnovak's closure feels different. This isn't just about losing a shop—it's about losing a cultural institution. 'Penangites parents choice before online shopping era existed,' writes Nur Hidayah, capturing something essential about what's being lost. In an age of online shopping deliveries and fast fashion, Kimnovak represented something increasingly rare: craftsmanship, consistency, and community connection. Kimnovak is located at 207, Jalan Magazine, 10300 George Town, Penang. They're open from 10:30 am to 6 pm , closed on Sundays, until 31 July 2025. Parts of this story have been sourced from Share your thoughts with us via TRP's . Get more stories like this to your inbox by signing up for our newsletter.
Daily Express
an hour ago
- Daily Express
Public transport to operate as usual tomorrow, says Loke
Published on: Friday, July 25, 2025 Published on: Fri, Jul 25, 2025 By: FMT Reporters Text Size: Transport minister Loke Siew Fook encouraged rally participants tomorrow to use public transport in order to minimise traffic congestion in Kuala Lumpur. PETALING JAYA: Transport minister Loke Siew Fook says he has ordered all public transport, including Keretapi Tanah Melayu Bhd (KTMB) and Prasarana Malaysia Bhd's train stations, to operate as usual tomorrow. In a Facebook post, he said the Madani government 'defends freedom of assembly, including for those not aligned with the government'. 'We cannot return to the times when democracy was oppressed to the point that Parliament was shut down. 'More importantly, our public transport must continue to function so that the majority can carry out their weekend activities without being disturbed by the opposition's rally. 'I encourage all rally participants tomorrow to use public transport so that traffic congestion in the capital city can be minimised,' he said. A mass rally organised by Perikatan Nasional is expected to take place in Kuala Lumpur tomorrow to call for the resignation of Prime Minister Anwar Ibrahim. Earlier today, KTMB denied issuing orders for the closure of its Bank Negara Malaysia (BNM) and Kuala Lumpur stations, after a notice made the rounds on social media. When a netizen asked about the notice in the comment section of one of KTMB's Facebook posts, the firm said there had been no official announcement from the management. The notice said that the BNM and Kuala Lumpur KTM stations would be closed from 9am to 5pm tomorrow. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
