22 Jul - 3 min read
Hi WEALTH is pleased to announce a strategic partnership with RinggitPlus to help the Malaysian middle-class (M40) with financial planning fundamentals.
In this partnership, RinggitPlus will offer their expertise and fintech products in personal financial planning to Hi WEALTH’s community. “The unprecedented nature of the COV-19 pandemic on the economy has resulted in the loss of jobs, salary cuts, and lesser sales income. Therefore, it is now more important than ever for Malaysians, particularly the M40, to be educated on financial planning to ensure continuous survivability and sustenance with the proper technique and tips to manage cash flow, debt, risks, and investments,” said Hann Liew, Co-Founder of RinggitPlus.
Radzi Tajuddin, Co-Founder of Hi WEALTH, shared Hann’s view. “The COVID-19 pandemic has unfortunately exacerbated income inequality in Malaysia. As a result, 600,000 households of M40 have slipped into the B40 due to loss of jobs and reduction of incomes. Hi WEALTH is created to help the M40s improve cash flow, and financial planning plays a big role,” he said.
According to the National Economic Action Council (NEAC), more than 600,000 households from the middle 40% (M40) income group have slipped into the bottom 40% (B40) category in 2020. Against the country’s 7.28 million households, as reported by the Statistics Department for the year 2019, this represents at least 8% of households that have seen incomes drop below the B40 income maximum threshold of RM4,850 a month.
“Through Hi WEALTH, we want the M40s to do more with their money. One of the best ways to do that is to make their money work through astute financial planning and smarter investing in multiple asset classes,” Radzi explained.
“When compared with other courses, RinggitPlus offers financial planning courses that are proven with practical techniques that Malaysians, including the M40 can use to immediately improve their financial wellbeing by avoiding making any mistakes that have severe adverse impact on their financial position as well as making their finances work better for them,” said Hann.
In Hi WEALTH, every participant will be getting two RinggitPlus financial planning services comprised of the following:
Hi WEALTH is currently opening registration for the second batch until 24 July 2021. The programme received an overwhelming response during the registration period for the first batch last June, clocking over 1,000 registrants in just three days. The registration takes place at Hi WEALTH’s official website.
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