PENDAHULUAN

Jadi, kalian sudah berhasil menyimpan uang dalam jumlah yang cukup banyak atau memperoleh dana yang cukup besar dan kalian berpikir untuk menginvestasikan dana tersebut. That's a great news. Adapun pertanyaan pertama yang akan muncul di benak kalian adalah: " Di mana saya ya bisa menginvestasikan uang ini?' Detailnya beragam. Beberapa dari kalian ingin mencari imbal hasil yang cukup tinggi dan siap dengan resikonya. Beberapa lagi masih ingin mencoba-coba sehingga tidak masalah jika imbal hasilnya lebih rendah yang penting adalah mulai dulu investasi. Tidak ada yang Keliru dari masing-masing pendekatan tersebut karena setiap orang memiliki profil toleransi risiko investasi berbeda.
Berbicara tentang profil risiko investasi, seorang investor pada umumnya perlu untuk mengetahui profil risiko sebelum berinvestasi pada produk investasi. Untuk mengetahui profil risiko investasi maka biasanya kalian akan diminta untuk mengisi sebuah kuesioner yang berisikan menjawab pertanyaan. Apabila kalian menggunakan platform investasi seperti bareksa, bibit, atau ajaib maka biasanya kalian akan menemukan beberapa pertanyaan yang mengindikasikan profil risiko investasi kalian.
Berikut beberapa link website yang yang akan membantu mengenali profil risiko investasi. Saya mendorong kalian untuk setidaknya mencoba mengisi salah satunya

3 KATEGORI PROFIL RISIKO INVESTASI DAN REKOMENDASI PRODUK INVESTASI

Beberapa bank atau manajer investasi mungkin punya beragam kategori atas profil risiko investasi. Sebagai contoh Bank Mandiri mengkategorikan ada 5 profil yakni konservatif, moderat, seimbang, bertumbuh dan agresif (Funnily enough, di artikel MoInvest, platform investasi Bank Mandiri, profil tersebut memiliki label berbeda: Sangat konservatif, konservatif, moderat, dan agresif .
Di sisi lain, beberapa artikel, seperti Schroders, Lifepal, Bareksa, Sikapi Uangmu dari OJK, dan IDX Channel mengkategorikan menjadi 3 kategori yakni konservatif, moderat, dan agresif. Secara umum memang untuk kategori profil risiko investasi ini ini lebih sering di 3 kategori.
Sedikit gambaran, ini yang saya copas dari Schroders
Profil Risiko Konservatif
Investor memiliki toleransi terhadap risiko yang paling rendah dimana investor umumnya akan lebih menyukai instrumen investasi dengan risiko maupun fluktuasi yang rendah. Sebagai konsekuensinya, potensi hasil investasi yang mungkin didapatkan oleh investor juga lebih terbatas. Investor dengan profil risiko konservatif sesuai untuk memilih instrumen investasi pasar uang seperti deposito, reksa dana pasar uang, dan surat utang (obligasi), terutama surat utang negara atau yg jatuh tempo kurang dari satu tahun. Atau bisa juga memilih emas, meski kalau menurut saya itu lebih kepada lindung nilai daripada investasi
Profil Risiko Moderat
Investor memiliki toleransi menengah terhadap risiko dan mau menerima risiko yang lebih tinggi daripada investor dengan profil risiko konservatif untuk memperoleh potensi hasil investasi yang lebih tinggi. Investor dengan jenis profil risiko ini sesuai untuk berinvestasi di instrumen pendapatan tetap dan sebagian kecil saham. Investor juga bisa berinvestasi di reksa dana campuran yang berisi campuran antara obligasi, saham dan reksadana pasar uang. Selain itu dapat juga melirik reksadana indeks, ETF, dan obligasi pasar sekunder.
Profil Risiko Agresif
Investor memiliki toleransi terhadap risiko yang paling tinggi dimana investor umumnya akan tidak keberatan untuk memilih instrumen investasi dengan risiko maupun fluktuasi yang tinggi untuk mendapatkan potensi hasil investasi yang baik. Investor dengan profil risiko ini sesuai untuk memilih instrumen investasi saham, reksa dana saham, dan bahkan derivatif. Beberapa pilihan lainnya termasuk forex, P2P lending, dan crypto currency.

SEDIKIT CATATAN TENTANG EMAS DAN PROPERTI

Meskipun kedua instrumen ini sering disebut sebagai instrumen investasi yang "aman" karena nilainya pasti bertambah, Saya lebih suka menyebutnya sebagai instrumen lindung nilai atas aset daripada investasi. Mereka ini bentuknya kan kebanyakan fisik ya (bahkan kalau semisal beli emas lewat aplikasi itu sebenarnya kita punya fisiknya), jadi ini merupakan instrumen yang paling mumpuni seandainya instrumen di pasar modal lainnya lagi rontok. Meski demikian tentu mereka akan butuh waktu lebih lama untuk dicairkan.
Dan tidak seperti instrumen pasar modal, kedua instrumen ini ini seringkali butuh pemeliharaan tertentu. Mungkin kalau emas (baik yang beli via digital maupun fisik) enggak begitu relevan, meski kalau semisal emas fisik yang jelas minimal adalah kita harus selalu ingat di mana menyimpan, atau bayar safe deposit box. Tapi yang lebih relevan adalah properti. Dengan kata lain kamu nggak bisa hanya beli terus kemudian ditinggal, tapi kamu juga perlu secara berkala mengeluarkan effort atau biaya untuk pemeliharaan dan perawatan.

ASPEK YANG PERLU DIPERHATIKAN TERKAIT DENGAN PROFIL RISIKO INVESTASI

Merujuk pada pertanyaan yang ada di kuesioner investasi BCA dan mandiri kira-kira ini adalah hal yang perlu diperhatikan yang akan menentukan profil risiko investasi

Tujuan investasi. Profil risiko yang konservatif biasanya memiliki tujuan yang lebih bersifat perlindungan atas nilai atas modal dan mungkin sedikit tambahan penghasilan secara berkala, dengan tingkat risiko yang minimum. Sedangkan profil risiko yang agresif biasanya menyasar pertumbuhan dari modal dan kekayaan yang sudah diinvestasikan, serta tidak berkeberatan dengan resiko Kehilangan modal baik sebagian maupun seluruhnya
Jangka waktu investasi. Profil risiko konservatif biasanya memiliki jangka waktu investasi yang lebih rendah sekitar 1 hingga 3 tahun. Sedangkan profil risiko yang agresif biasanya memiliki jangka waktu investasi yang lebih lama yakni 5 tahun atau lebih
Alokasi total aset likuid untuk investasi. Semakin tinggi dan semakin lama total aset yang akan diinvest maka biasanya profil akan lebih cenderung ke agresif. Sebagai contoh jika kita hanya mengalokasikan kurang dari 25% dan dalam jangka waktu hanya 2 tahun kemungkinan kita akan lebih bersifat konservatif sedangkan jika kita mengalokasikan lebih dari 50% dalam jangka waktu hingga 5 tahun ke atas mungkin lebih bersifat agresif. Meski demikian hal ini memang sangat tergantung pada kondisi juga, jadi tidak berarti kalau semisal kita hanya mengalokasikan 20% maka itu berarti kita tidak agresif, karena sebenarnya agresif tidaknya itu lebih tergantung pada tingkat toleransi risiko
Tingkat ketergantungan terhadap hasil investasi. Semakin kita bergantung pada hasil investasi maka biasanya kita akan semakin enggan untuk mengambil risiko. Jadi kalau semisal kita punya sumber pendapatan lain (misal dari pekerjaan utama atau dari bisnis) dan tidak tergantung pada hasil investasi, biasanya kita akan lebih mungkin untuk mengambil pilihan yang lebih agresif. Di sisi lain bisa juga dikarenakan kita sangat bergantung pada hasilnya, maka kita go big or go home, tapi biasanya ini kasus tertentu sih.
Toleransi risiko. Ini tentu saja mengindikasikan tindakan dan perasaan kita saat menghadapi kondisi pasar yang kurang baik (bearish). Profil risiko konservatif biasanya lebih cenderung untuk hold back dan wait and see, atau mungkin malah buru-buru menarik dana. Di sisi lain profil risiko yang agresif akan lebih mungkin untuk menambah dana meskipun ada kemungkinan nilai investasinya justru menurun, krn melihatnya sebagai peluang untuk menambah kemungkinan peningkatan nilai dari investasi. Dari sisi nilai, profil konservatif tentu saja umumnya hanya mau berinvestasi pada produk yang yang punya risiko kerugian minimal, semisal di bawah 10%. Sedangkan profil yang lebih agresif bersedia menerima risiko kerugian yang lebih tinggi, misal di atas 20%, 50% atau bahkan 100%. Tapi biasanya profil risiko agresif sudah tahu kapan harus take profit (TP), kapan harus hold, dan kapan harus cut loss (CL) dengan melihat support dan resistance.
Pengetahuan dan pengalaman investasi. Profil konservatif biasanya memiliki pengetahuan dan pengalaman yang lebih terbatas dibandingkan yang moderat atau yang agresif. Sebaliknya profil yang agresif biasanya memiliki pengetahuan yang lebih beragam atas instrumen investasi maupun risiko-risiko yang relevan

REKOMENDASI PLATFORM

Ini saya susun dari risiko yang paling rendah ke yang paling tinggi

Deposito. Semua bank atau app perbankan punya fitur untuk buka deposito
Obligasi negara (pasar primer atau sekunder). Bisa memilih yang native aplikasi perbankan (primer dan Sekunder) atau yang dari manajer investasi (hanya primer). Contoh dari app perbankan: SBN Mandiri Online (Mandiri), Welma, (BCA) Permata Mobile X. Contoh manajer investasi terpisah: Bareksa, Bibit,
Emas. Emas sebenarnya bukan termasuk investasi menurut saya tapi beberapa orang menganggapnya demikian. Tentu saja kalau semisal tradisional kamu bisa beli emas Antam atau Pegadaian, tapi kalau semisal emas yang bisa beli lewat digital itu yang menyediakan adalah Pluang, Tokopedia, Bareksa
Reksadana. Bisa memilih yang native aplikasi perbankan atau yang dari manajer investasi. Contoh dari app perbankan: MOInvest (Mandiri), Welma (BCA), BIONS (BNI). Permata Mobile X. Contoh manajer investasi terpisah: ReksadanaSAM (Samuel), NAVI (Mirae Asset), Moduit, Bareksa, Bibit,Investree, Ajaib, Pluang.
Saham. Berbeda dengan deposito obligasi dan Reksadana untuk natif aplikasi perbankan biasanya tidak mendukung untuk saham, melainkan harus sekuritas. Jadi silakan cari saja sekuritas dari masing-masing bank, misal BIONS (BNI Sekuritas), MOST (Mandiri Sekuritas), BCAS (BCA), etc. Selain itu ada juga manajer investasi pemain lama dengan platform seperti Spot (Sucorinvest), Neo Hots (Mirae), STAR (Samuel), etc yang lebih baru lagi tentu saja yang digital seperti IPot, Stockbit, Ajaib.
Saham luar negeri. Untuk ini memang lebih terbatas sejauh ini yang saya tahu bisa adalah Pluang dan GoTrade/GoTrade Indonesia
Peer to peer lending. Ini investasi yang cukup menjanjikan tapi memang enggak buat semuanya sih karena risiko yang cukup tinggi dan ada pandangan juga bahwa ini sistemnya kayak riba. Contoh nya KoinWorks, LandX, dan Modal Rakyat.
Crypto. Ini yang belakangan lagi banyak diperbincangkan dan tentu saja risikonya sangat tinggi. Beberapa contoh platform nya adalah Indodax, Pintu, Pluang, Tokocrypto.

PENUTUP

Satu hal yang perlu diperhatikan adalah profil risiko investasi ini tidaklah permanen dan dapat berubah sepanjang waktu dikarenakan berbagai hal seperti perubahan fase hidup, pengetahuan atas investasi, prioritas finansial, perubahan dalam jumlah pendapatan, dan sebagainya. Kita dapat melakukan review atas profil ini ini secara rutin setiap beberapa tahun, tapi setidaknya dengan mengetahui profil ini ini kita bisa memulai untuk menentukan kira-kira instrumen investasi seperti apa yang cocok untuk kita--setidaknya dalam jangka dekat.

Personal Finance 101: What School Should've Taught You (Growing Your Money)

TL;DR: If you don't want to read it, the contents probably will not benefit you anyway.
Disclaimer: I'm not a economic or accounting major which is why I've put this off for some time. I was hoping someone actually qualified would type up something but the number of (young?) people asking financial questions and making assumptions about finance related things is concerning. So, while I'm not a qualified financial advisor, I worked in banks for about 10 years and I'd like to think I have the basics of how the economy works and can at least contribute to how some aspects of our market works. If you are a qualified economic/ finance major or you see something incorrect, do speak out in the comments. I will also not get into too much detail and try to stick to points which are relevant to a general consumer.
Economy, like politics, effects you whether you like it or not. You can choose to not take an interest but it has a lasting impact to your daily life. Having at least a basic understanding of personal finance will at least let you make informed decisions and understand why certain things are conducted the way they are before you decide to rage and spread misinformation which helps nobody.
Before we get into growing your money, let me get into the weeds on 3 key concepts: inflation, base rate and "beating the market".
Inflation is a term probably most familiar to you. Its the rate at which general market prices are measured. A good way to think of it is if the inflation rate is 4%, it means if you make RM1000 to buy RM1000 of goods per month in 2021, you would only be able to buy RM 960 worth of goods in 2022 if you do not have a payrise. The calculation is averaged and fairly complex so I won't get into it. Its largely averaged and weighted out by comparing the price of several key household goods. Inflation happens constantly and very rarely falls into negative inflation.
Base Rate is a banking term. You will almost always see it when taking out loans. A simple way to look at it is Bank Negara looks at how the market is performing does some risk evaluation and determines a rate for financial instituions to loan money. Due to inflation, every time money is loaned out a financial institution is taking on a risk of losing money. Interest is charged to ensure the bank mitigates that risk and pockets a sizeable profit. The interest charged is tied closely to the Base Rate. The islamic term is for interest is sometimes known as profit rate and banks will tell you that its based on a locked in commodity (the amount loaned to you is based on an actual sale of a product, usually rare metals and the profit rate is the rate by which the bank takes from you to rebuy that product) but if we are all being honest here, all of the banks interest are supported in one way or another by some form of investment/ commodity. Its not like the banker goes to the gold market every time somebody takes out an islamic loan.
"Beating the Market" is a Bursa/ Stock Market term. The "Market" is essentially a number of key giant companies that makes up the majority of the stock market. In the US, a popular benchmark for their "Market" is the S&P 500, which is an index that averages the performance of the 500 highest earning companies in the US. In Malaysia, I'm not aware that we have such an index but we do have something similar known as the "Main Market". Beating the market means that you handle your money in such a way that you are able to grow your money at a rate that exceeds the performance of the averaged "Main Market". This is exceedingly difficult and if you do it constantly and reliably, you should quit your day job and become a trade fund handler to make millions.
Okay, now we get into how to grow your money. The worse way to grow your money is to keep it in your home/ safe/ pocket. Think about it, you make RM1800 a month. You spend half of that on living expenses, then for the rest of the month you keep RM900 in your pocket to be used cause you don't want to withdraw money too often or "because you don't trust banks". Every second that money is spent at home or in your pocket, you are losing money due to inflation. A very minute amount to be sure, but you can imagine every second RM0.000001 dissapears. There are a lot of seconds in a day, much less a month/ year.
The 2nd way to grow money is the savings account and followed closely with the favourite of Malaysians, "long term deposit" or "fixed deposit". The interest rate of these 2 are tied to the Base Rate that BNM puts out. And as I said, its the bare minimum that BNM has estimate to cover the risks on lending due to inflation. Basically, money you put in savings/ long term deposits is money you loan to the bank. And the interest earned is what the bank gives you in return for loaning them money. And unlike the interest rate the bank gets for loaning you money, the interest you get barely covers the inflation rate. In 99% of cases, you are below or equal the calculated inflation rate. So at best, you are merely keeping up with inflation. However, its available for anyone with an existing account, accessible and your principal is guaranteed by PIDM, basically insurance scheme for member banks (one point to note is in the event of a market collapse, while your principal may be guaranteed, you will still lose out to inflation as banks adjust the rates from a market collapse, the idea of fixed deposit as a haven is incorrect. Gold is more often the appropriate investment in a bear market) Its popular for a reason though you can likely get better output with minimal additional effort through passive investments.
So what is the best way of reliably make more than the interest rate given that inflation, BR and market rate is all correlated? The best way is of course, to be some kind of financial genius that makes 100% calls on the market behaviour, but in absence of such ability, you buy the market. A form of passive investing. Inflation affects every company out there. Shareholders are only interested in a company if it outperforms inflation, the better it outperforms inflation the more confidence Shareholders have in the company. So every company is motivated to perform better than inflation. Buying into a fund that tracks the top performing companies in the market is called "buying the market", basically your money is then being put to work by various companies who are capitalistically invested in growing your money and has reliably made more than inflation year after year. This is popular among people who want long term returns and dont want to actively be sitting in front of a trading screen due to other commitments/ stress. You can select a fund that splits the money you have into a selection of giant companies across the world with options for bonds and emerging markets based on your risk appetite. Then you just continuously put money in it as you would a savings account. In general the fund you select should perform equal to the world market. In the US, you can just buy the F500 tracker and you are essentially growing your capital at a rate the F500 does.
This does come with additional risks you have to accept that are not present in savings and long term deposits. I will cover in a more in depth post on funds and stock market trading if there is any interest. I will not cover active trading, forex and crypto in this post as i think the risk/ reward they carry is much higher than what a regular consumer should get into.

Message from BNM Governor MI

PSA: Common scams, their modus operandi and tips on avoiding scams

There needs to be more awareness on scams, hence this post. Please note that this is not an exhaustive list, just a few common ones. As it's a long post, I used headings and bullet points to make it more digestible rather than a wall of text. All sources are credited but I left out any, please inform me and I will edit my post.

IMPORTANT!!

1. Identifying accounts used by scammers by verifying if a Malaysian Bank Account or Telephone number has been used in an online fraud case or scam:
How: Go on https://semakmule.rmp.gov.my/
2. Blocking spam calls
How: Install Truecaller

General guideline if you have been scammed (Source: BNM)

Firstly, you are advised to lodge a police report.
Then, to report to the relevant enforcement agency.
You must keep all records and documentations for the investments such as bank-in slips, deposit slips, agreements, vouchers that you received from the company or perpetrator so that you can use the documents to take action against the company.
This includes details of the officers or key persons that you dealt with in the company. This information could prove useful for enforcement purposes.

Who to report to:

https://preview.redd.it/958ffumdsm381.jpg?width=544&format=pjpg&auto=webp&s=29d71d1eed642c90897647b0c03363bbeb251ca6
1.PDRM
2. BNM (Bank Negara)

Lodge a complaint using their weblink: https://telelink.bnm.gov.my/
Any of the BNM offices (Face-to-face consultations will require appointment made through the weblink or hotline)
BNMTELELINK (Contact Centre) Tel: 1-300-88-5465 (1-300-88-LINK)

3.KPDNHEP (complaints regarding goods and services)

Toll free number (1-800-886-800)
System e-Aduan: http://e-aduan.kpdnhep.gov.my/
WhatsApp

4. KPKT (complaints regarding licensed money lenders, usually for illegal money lenders or Along they refer to PDRM)

Lodge a complaint on: https://aduan.kpkt.gov.my/aduan-online/entry/aduanperumahan.cfm
Call their hotline Bahagian Kawalan Kredit Komuniti (BKKK) on 03-8891 4694/4690
Go to Kaunter Aduan KPKT di Aras 1, KPKT di Putrajaya.

5.MCMC (complaints regarding cyber scams which include telecommunications services, broadcasting services, Internet services, postal services, online content problems, USP and more. Check the full list here)

Lodge a complaint on: https://aduan.skmm.gov.my/

6. National Consumer Complaints Centre

Lodge a complaint on https://ncccaduan.firebaseapp.com/ (but it is currently offline until December 31st 2021)

TYPES OF SCAMS

SCAM TYPE 1: PINJAMAN TIDAK WUJUD

Source: KPDNHEP
Modus operandi: Offering loans via socmed such as FB, Instagram and WhatsApp
Prevention [Source: Harian Metro]

Don't fall for low interest rate and "fast money guaranteed" offer
Be physically present at financial institutions or licensed money lenders for loan application instead of through socmed
Go on i-KrediKom which was launched on 5th April 2019 for a list of licensed moneylenders or community credit companies registered under the KPKT

Further news articles:

SCAM TYPE 2: PARCEL SCAM

Source: Malay Mail and PIDM
Prevention [Source: Ninjavan]:

Keep track of all your purchases.
Do not accept parcels / items that you are not expecting, especially if you have to pay for it.
Parcel scam is often another form of love scam, in which the scammer will claim to send a parcel with valuable items or money and promise commission/jewelries to the victim but need to pay for “courier service”.

Further news articles:

SCAM TYPE 3: LOVE SCAM

Source: Free Malaysia Today and PIDM
Prevention [Source:Investright.org and RHB Bank]

They cannot meet you in person and avoid video chats.
They profess their love early on in relationships and flood you with affectionate messages.
They steer the conversation toward finances and ask for money.
They may ask for your nude photos or perform sexual acts in front of a webcam and may threaten to spread the photos to family, friends and strangers if you stop sending them money.
Love scam is often another form of parcel scam, in which the scammer will claim to send a parcel with valuable items or money and promise commission/jewelries to the victim but need to pay for “courier service”.

Further news articles:

SCAM TYPE 4: ILLEGAL INVESTMENT

Source: Securities Commission
Prevention [Source: The Edge Markets]:

Verify the status of individuals or companies offering investing opportunities via Security Commission’s website and whether they are on the list of unauthorised websites, investment products, companies and individuals.
Remember the golden rule - if it sounds too good to be true, it's probably a scam
Deal only with licensed financial institutions and authorised dealers
Be cautious of investments offered via social media platforms or fake celebrities endorsements
Don't be pressured or rushed to invest
Be sceptical of any investment opportunity that is not in writing
In case an investment has been made, keep copies of all the investment and communications

Further news articles:

SCAM TYPE 5: FINANCIAL SCAM

Source: Bernama
Financial scam # Type 1: Low loan interest
https://preview.redd.it/px706yeytm381.jpg?width=427&format=pjpg&auto=webp&s=45ee6b49c269da1be0e0e60d2ec2442040881689
How do loans work [Source: Hong Leong Bank]

There will always be an official document (printed or digital) which discloses clearly your loan details
You will never have to pay any sum upfront as it is illegal for a lender to ask for pre-payment
Find out who the borrower is and be sure the loans are from licensed financial institutions since they are regulated by the central bank and therefore the safest option or iKreditKom app by KPKT(Kementerian Perumahan dan Kerajaan Tempatan) which allows people to check whether the lending company is legally registered before making a loan.
Licensed financial institutions and/or banks DO NOT appoint or engage third parties or agents for the process of securing loans [Source: ABM (Association of Banks in Malaysia)]

Red Flags [Source: Hong Leong Bank]:

A lender who has zero interest in your credit history, and ads that say “No hassle-fast money guaranteed” or “We don’t care about your credit”.
Legitimate lenders will only approve loan once they accessed your credit history.
The entire loan process takes place via WhatsApp or socmed
Upfront payment: Some scammers claim you need to pay a processing fee due to bad credit health
Pressured to act immediately: Scammers may pressure you to give personal information or send money before providing proper documentation

Further news articles:

Financial scam # Type 2: Identity Theft
Source: RHB
Prevention: [Source: CIMB]:

Always remember to log out once you have completed your banking transactions.
Never share details such as your card number / User ID / PIN / password / TAC with anyone or key them in in any website other than the official banking sites
Do not click on links or open email attachments from unknown / unreliable senders / sources (Example: Emails from CIMB will always end with u/cimb.com
Don’t write your PIN anywhere which is easily accessible to anyone.
Never save your card details on your browser.
Never use easy-to-guess Card PINs such as date of birth.

Financial scam # Type 3: Mule Account Scam
Source: TheStar and PIDM
Prevention [Source: Maybank and ABM]:

Do not allow your account to be used or handled by any third party or unknown persons.
Do not share your account bank details i.e. Internet Banking User Name and/or Password, ATM Card, PIN Number or TAC to a third party.
Do not be tempted by lucrative job offers with involve you handing over your ATM card/online banking details as enforcement action will be taken against you if you are found to be involved

Further news articles:

Financial scam # Type 4: Email Scam
Source: Public Bank
Prevention [Source: BNM]

Use web browsers that are up-to-date with built-in phishing filters.
DO NOT trust emails, calls or SMS claiming cash wins or refunds and requesting for personal banking information.
Contact your respective banks or contact the Associations of Banks in Malaysia (ABM) toll-free service called ABMConnect at 1-300-88-9980 when in doubt of the email, SMS or calls.

Image example of email scam 1: Beware of email scam requesting for banking information
Image example of email scam 2: Samples of phishing emails
Financial scam # Type 5: Loan Deferment Scam
Source: AmBank
Modus operandi and prevention [Source: Alliance Bank]

First, scammers will contact via phones, emails, social media and offer to provide assistance in loan payment deferment application.
Next, they will provide a URL to bank lookalike application form for customers to fill in personal & banking details
Finally, request for “processing fee” for loan deferment application. Use the bank’s official channels instead of 3rd party agents to get more details on loan deferment.

SCAM TYPE 8: INHERITANCE SCAM

Source: Malay Mail and PIDM
Modus operandi [Source: scamwatch.gov.au]:

A scammer may contact you out of the blue to tell you that you can claim a large inheritance from a distant relative or wealthy benefactor. You may be contacted by letter, phone call, text message, email or social networking message.
The scammer usually poses as a lawyer, banker or other foreign official, and claims that the deceased left no other beneficiaries.
Sometimes the scammer will say you are legally entitled to claim the inheritance. Alternatively, they might say that an unrelated wealthy person has died without a will, and that you can inherit their fortune through some legal trickery because you share the same last name.
You will be told that your supposed inheritance is difficult to access due to government regulations, taxes or bank restrictions in the country where the money is held, and that you will need to pay money and provide personal details to claim it.

Red flags/prevention [Source: scamwatch.gov.au]

May look convincing and use official-looking letterhead and logos, but will usually contain spelling mistakes and grammatical errors.
Size of the supposed inheritance may be very large, sometimes many millions of dollars.
You are asked to provide your bank account details, copies of identity documents as verification, and to pay a series of fees, charges or taxes to help release or transfer the money out of the country through your bank.
Do an internet search using the names, contact details or exact wording of the letteemail to check for any references to a scam – many scams can be identified this way.

SCAM TYPE 9: E-Commerce SCAM

Source: https://www.agelessonline.net/e-commerce-scams-on-the-rise/
Prevention [Source: nasilemaktech] :

Avoid making purchases on FB, WhatsApp and other social media platforms
Must have clear description of products
Beware of fake websites.
Always check the URL for errors/inconsistencies/poor grammar and look out for accessible contact information.
Do not believe 100% online reviews and be sure to ask the seller if you have any questions
For expensive items on Lazada/Shopee, recommended to buy from “Official Stores” which is 100% legit to ensure legitimacy and genuinity of the product.
For e-commerce platforms such as Lazada/Shopee, red flag if seller requests buyers to contact via WhatsApp in product details and insist on avoiding payment through Lazada and payment made directly to their own account.

SCAM TYPE 10: JOB SCAM

Source: https://www.reddit.com/malaysia/comments/r7sa6v/is_this_a_scam/ by u/magnum361
Prevention and Identifying fake job offers [Source: Randstad]:

Search for jobs advertised on reputable and legitimate employment websites, such as JobStreet (still have to be cautious)
Red flag if money is involved and you are asked to transfer money for medical check, work pass application or to attend the job interview
The company has no website or official/corporate social media account
You did not apply for the job
The job is too good to be true and job description is unclear or too short
Poor use of the English language with multiple typos and grammatical errors in the job advertisement or text messages, or “job offer” that starts with “Hi dear…”
You found the job posting in a random social media community
They ask you for your personal information such as your mobile number or ID photo on messaging platforms

Further news articles:

SCAM TYPE 11: SMS/PHONE CALL SCAM

Source: Sinar Harian and PIDM
Prevention [Source: CIMB]:

Do not respond to SMS or call from unknown person asking for your credit/debit card or online banking details.
Do not respond to any SMS or call that claiming it's coming from Bank Negara. Their officer will never call you to ask for your credit/debit card or banking particulars.
If someone claiming to be from your card service provider calls you and asks you to confirm the security numbers on the back of the card (the last three digits on the back of the card), you should end the call immediately.
Watch out for poor grammar in the SMS.
Check your transactions regularly.

SCAM TYPE 12: MACAU SCAM

Source: MCMC and Bernama
Prevention:

If you think a caller is suspicious, or if your caller is constantly pressuring you to disclose personal information,end the call and block the number.
Do not panic if you receive a call from someone posing as a BNM staff/MACC/court officePOS Malaysia/bank officepolice/LHDN.
Do not keep to yourself and tell a family member.
Do not reveal any details about your bank accounts to the caller
Do not call the number given by the caller who claim to connect you to for instance, BNM staff or an inspector
Verify with the relevant authorities by calling their official number

Further news articles:

SCAM TYPE 13: SHOPEE SCAM

Source: Shopee
Common Shopee scams:
Shopee Scam # Type 1: Job scams

Scenario 1: A job offer that requires you to pay to get paid
Scenario 2: The same job scam with an upgrade

How to avoid [Source: Shopee Online Shopping Safety Tips]

Shopee does not employ any individuals to recruit employees through messaging platforms
Shopee also confirms that there is no such role as “Online Purchasing Agents”
Shopee will never request for advance payment or deposits as a requirement to work with them.
Screenshot conversation as proof when reporting to the authorities

Further news articles: Shopee and Lazada online purchasing agent job offer is a scam
Shopee Scam # Type 2: Stealing personal/bank account details through SMS/phone calls/Fake Seller Centre Scam

Scenario 1: Scammers steal bank account details via SMS/phone calls
Scenario 2: Scammers requests for OTP after victim places an order on Shopee
Scenario 3: Scammer impersonates to be victim's friend on social media
Scenario 4: Scammers steal seller Shopee account details via SMS/WhatsApp

How to avoid [Source: Shopee Online Shopping Safety Tips]

Do not call the number stated in the SMS
Contact respective bank using the contact number stated at the back of your card for any queries
Do not share OTP with anyone including family and friends and Shopee will never ask for OTP
Shopee will only contact users/sellers via official channel such as Official FB page or through Shopee app notification.

Shopee Scam # Type 3: Payment Scam

Scenario 1: Scammer targets users through sponsored posts impersonating to be Shopee
Scenario 2: Scammer impersonating as Shopee on unofficial channels for campaigns/giveaways
Scenario 3: Scammers request direct payments out of Shopee via WhatsApp/Line/Wechat
Scenario 4: Scammers request refund for overpaid orders
Scenario 5: Scammers pressure victims into making direct bank transfers

How to avoid [Source: Shopee Online Shopping Safety Tips]

All finance-related activities should be strictly done through Shopee App and Web only, and when in doubt, check with the authorities or Shopee’s customer service

Shopee Scam # Type 4: Shopee unofficial channel/fake Shopee website scams

Scenario 1: Scammers steal victim's login information via phishing websites
Scenario 2: Scammers use pop-up ads on websites to gain victim's trust and information using Shopee logo
Scenario: Scammers attempted to get the victim's personal details via private message on social media

How to avoid [Source: Shopee Online Shopping Safety Tips]

All announcements for Shopee campaigns or prizes will only be made through official Shopee channels
Shopee will only reach out to campaign/contests/giveaway winners through official page/Shopee app notification
All Shopee vouchers will only be distributed through their official channels-Shopee App, Shopee website and official social media accounts only.
Shopee will only contact users/sellers via official channel such as Official FB page or through Shopee app notification.

Shopee Scam # Type 5: Parcel Scam

Scenario 1: Scammers contact victim that they might have an unclaimed package via SMS/phone calls
Scenario 2: Scammers send out a message through social media platforms to inform that victim has won a prize

How to avoid [Source: Shopee Online Shopping Safety Tips]

Beware of messages/links from unknown individuals asking for OTP/verification codes
Always keep count on the orders you have really made from Shopee

Shopee Scam # Type 6: Fake Products

Scenario: Tech-related item scams on Shopee such as USB Drives, SD cards and also external hard drives.

How to avoid (credits to u/PRSXFENG): 1. The seller usually has poor English 2. The ships from address is usually invalid (00000 postcode), so you can't return it for refund. 3. 1TB storage drives are still quite expensive, you're not getting a RM15 1TB USB drive, it's a scam, the drive will show 1TB when plugged in but you'll loose data soon, so compare prices with well known brands. 4. Seller usually give a lot of free gifts 5. Seller usually has a bunch of useless keyword texts thrown in like FREE SHIPPING, FAST SHIPPING 24 HOURS, LOCAL SELLER, TRUSTED, HUGE DISCOUNT 6. Check 1 star reviews for call-outs (eg, h2testw) 7. Disregard Shopee's "authentic product guaranteed", I've seen known scams with that tag (eg, Huawei, Oppo, Vivo and Xiaomi branded microsd cards, they do not exist) 8. Seller name is usually a mash of letters that looks like someone mashed their keyboard.

SCAM TYPE 14: LAZADA SCAM

Lazada Scam # Type 1: Fake Lazada contests and giveaways
Source: [Lazada Singapore]
How the scam works and what you should do [Source: Lazada]:

Scammers lead you to a phishing site and gain access to your personal details shared.
Only participate in contests that are officially conducted by Lazada on their official channels

Lazada Scam # Type 2: Job scam
Case Study 1: Purchasing products to “increase traffic and clicks” and promising commission by u/liamkohwil: Thread: “Update: Scamming through Lazada. PLEASE HELP
Case Study 2: Fake Lazada Affiliate Marketing Group by u/roboukiiscool: Thread: “Prevalent Scam to watch out for: Lazada Affiliate Marketing Group
How the scam works by u/roboukiiscool:

You help them buy 'products' for them in which they will pay you a small % of commission on (in this case 8%)
After purchasing the 'products', you send them a payment slip as evidence of you actually purchasing and they'll supposedly pay you back the original amount of cash you paid for the product AND the commission they promised.
It starts from small amounts such as rm 5 rm 25 rm50 rm100 and you get 8% commission for all these transactions, sounds like easy money and they gain your trust already.
The higher cost transactions will be around rm500 and this is where they'll start to test how far they can take you, they call this the 'vip lounge' or something cringe, so you thinking you're earning easy commission money through making such sales, you let your guard down.
The scammers think they have extracted enough from you then they'll come and give excuses on why they cannot reimburse your cash and commission anymore, late on payment, transaction did not comply etc etc . Basically just ignore and block you after that.
You lose high amount of money from the 'product' you were supposed to be reimbursed back. Not to mention, the 'product' probably doesnt even exist so there's that.

Lazada Scam # Type 3: Making transactions outside of Lazada platform
How the scam works and what you should do [Source: Lazada]:

Scammers block your contact after receiving your payment, with no delivery or refund issued.
Off-platform transactions are not protected by Lazada, so always buy and transact within the Lazada platform.

What you should do if you are scammed on Lazada (by u/sasa86):

Compile all screenshots, especially the part where the 'seller' promises refund
Make a police report, claiming fraud
Forward a copy of police report and compiled screenshots to Lazada, as the platform strictly prohibits sellers from conducting sales outside the platform
Once Lazada confirms receipt of said report, forward it to the 'seller' together with a copy of the police report AND state that you will pursue legal action if the money is not refunded by XX days
When making statements to police or Lazada or 'seller', be calm and not be too angry when 'seller' replies to ask you for more time or delay, just shut him off and say sorry, please refund by XX days, then don't say anything more than necessary

SCAM TYPE 15: CAROUSELL

Source: https://www.carousell.com.my/p/scam-be-aware-of-this-people-and-this-kind-of-email-141458605/
How the scam works:

Scammers typically insist for conversation to take place on WhatsApp instead of Carousel and once payment is made, they will block you. [Case Study: Has anyone here gotten scammed on carousell before]
Scammers claim that they have overpaid and that you need to refund them [Case Study: Beware of this scam]

What you should do:

For expensive items, always insist on COD or Carousell Protection
If item is too cheap, then it's good to be true and likely a scam.
For sellers, recommended not to sell to a user based in another country
Check seller or buyer's ratings and go for the lowest star review instead of 5-star
Report to police as well as Carousell so they can suspend the seller's account
Make offer and wait for it to be accepted so that you can leave a review to warn others

SCAM TYPE 16: HAJJ/UMRAH PACKAGE SCAM

Source: PDRM
Prevention [Source: PDRM]

Do not fall for cheap Umrah packages, especially those offered on socmed or WhatsApp (ex: RM2000 for haj and umrah which is unrealistic price after permit, accommodation, transport and food costs are taken into consideration).
Check https://www.motac.gov.my/en/semakan/umrah for a list of licensed and approved travel agencies that offer Umrah packages

What to do if you have been scammed:

Lodge a police report and also go on https://motac.spab.gov.my/eApps/system/index.do?aplCode=en to lodge a complaint

Further news articles:

SCAM TYPE 17: SCRATCH & WIN (used to be rampant but may make a comeback )

Modus operandi [Source: Straitstimes]

The scam works like this: The crooks approach the victims and ask them to try their luck with a scratch card.
In some cases, victims may receive calls about winning a “contest”. They tell the victims they have won a mystery prize and ask them to go to an office to find out what it is.
When they arrive, the con men reveal the "prize", usually cheap electrical goods, such as foot massagers. The victims are offered the chance to win a more substantial prize, and asked to hand over cash in advance to cover bogus costs such as "taxes".

OTHER SCAMS:

Dad asked me to share photos of my IC and licence for a forex trading scheme. Is this legit?

How effective were European-style infantry units as raised in the 1800s in India? With a special reference to the Campoo batallions of Benoit de Boigne and his employ under Mahadji Scindia

I think it would be prudent to begin this analysis by first exploring some background into what led to the emergence of these formations in the armies of contemporary Indian states during the 18th century.
How and why did these formations emerge?
The realisation of the inherent value of having reliable firepower in the hands of infantry formations in an army, had dawned upon Indian monarchs by the late 16th century, and arming a certain section of one's infantry according to how many musketeers one's finances would allow them to afford, became a trend in Indian militaries since then. Most states enjoyed limited success or abject failure, but none compared to the predominant power in the subcontinent which was the Mughal Empire. For a century or so, the Mughal Empire, outgunned it's neighbours and opponents. Yet, with the advent of trading companies and the opening of the subcontinent and it's commercial markets to the world, the military technologies, tactics and systems of Europe and European military adventurers, who would hire out their services to the highest bidders also arrived in India. Hence, when the Mughal Empire fractured, when the Maratha rise under Peshwa Bajirao Ballal from the 1720s onwards made the perception of Mughal invincibility nothing more than an illusion, the states that were once Mughal vassals and allies such as the Rajput kingdoms, the states that had rebelled against and gained autonomy from the Mughals such as the Jats and the Sikhs and Marathas, and the States that had succeeded the Mughal Empire but who still recognised the nominal authority of the Mughal Emperor while for all practical purposes functioned as autonomous entities such as Awadh and Hyderabad, got into the business of acquiring substantial numbers of musket armed infantry, to hold and expand their newly acquired territory and autonomy.
But while the realisation that firepower was necessary on the modern battlefield was dawning upon Indian monarchs it would still take until the 1750s and 60s, for any formidable Sepoy trained batallions to surface on the scene in 18th century India. Among these corps was the one commanded by Ibrahim Khan Gardi, a former Commandant de la Garde to Charles Joseph Patissier, Marquis de Bussy-Castelnau, he was trained in the French discipline and way of warfare by the latter during his service under him. He was then employed in the army of the Nizam of Hyderabad and his title "Gardi" was a souvenir from his service under his previous commander, a derogation of "Garde". Under the Nizam he was able to raise 2000 men, trained and drilled in the European/French fashion and had an efficient artillery arm to support his infantry. Having impressed upon the young Sadashivrao Bhau, cousin of the then Peshwa of the Maratha Confederacy Balaji Bajirao, during the former's campaign against the Nizam, the value of drilled sepoys and artillery firepower in warfare, he was soon employed in Maratha armies under the direct command of Sadashivrao Bhau, who allowed him to raise between 8000-10,000 "Gardi Musketeers" as his batallions would come to be known and a park of around 60 cannons. Ofcourse, these Gardi Musketeers, while enjoying limited success in the Deccan, they were ultimately destroyed in their entirety at the Third Battle of Panipat, 1761. The battle was an excellent education into the inherent weaknesses of such batallions, but more on that later.
Therefore, it was first the realisation that a musket armed infantry was crucial and often decisive on a battlefield that prompted Indian monarchs to begin employing such formations in their armies. While some accomplished this under later Mughal rule, almost every monarch of note began trying to accomplish the same once the Empire's inevitable demise became apparent after the 1720s. Next, it was the education from harsh experiences such as the Battle of Karnal, the Carnatic Wars where regular European and French/English trained Indian Sepoys made a mockery of the forces of the Nawabs and Rajas of the Carnatic who grossly outnumbered them, that Indian monarchs learned the value and effectiveness of well drilled and disciplined infantry formations. Hence, from the 1750s, onwards, it was considered necessary to have such formations in one's armies and the avenues for the acquisition of these formations were several. Monarchs could pay military adventures to train and maintain and lead such troops, they could employ natives who were under the employ of the armies of the trading companies by seducing them with greater monetary prospects, or they could pay these companies to maintain such formations for them in their territory often bearing a huge cost for their maintainance and pasting with some elements of autonomy in trade and authority over their territories in the process.
It must be apparent, that any monarch who wished to expand and control his territories, chose one or both of the former options.
Mahadji and De Boigne : The Foundations Of An Invincible Army
Next, we arrive at the question of how did these troops fare against both - other Indian armies and the armies of the trading companies. For this we must first delve into the issue of how these troops were raised, how were they organised, how did they fit into the army as but one arm of a multi faceted instrument of destruction, and how did the various archaic elements of Indian armies interact with and respond to these troops. I think one of the best examples of a European military adventurer employed by an Indian Prince, to raise and command Indian sepoys drilled along European lines is that of Benoit de Boigne and his employ under Mahadji Scindia. While so much could be said of the life of these two men, we are for now, concerned about the performance of the Sepoy formations raised by the former in their service of the latter. De Boigne had entered Scindia's service in early 1784, while the latter in November of the same year, was assigned "Vakil-i-Mutlak" or the plenipotentiary Regent of the Mughal Empire, an office which combined the Wazirhsip and the Mir Bakshi functions. Only once in history had such a post been created by the Mughal Emperor and that was by Muhammad Shah who appointed Nizam-ul-Mulk to this position around the dawn of the 18th century. The task before Mahadji Scindia now, was to bring to submission the many rebellious chiefs, commanders of forts and garrisons, former vassal/allied Rajputs and local zamindars and Jagirdars who had ceased to acknowledge Mughal sovereignty and pay their obligated share of revenue from the taxes they collected from their territories. It would be for this endeavour, and to secure and expand his position and domain in Hindustan (North India) that Mahadji enlisted De Boigne, and had him raise Batallions of sepoys from Oudh and Rohillkhand, which the latter accomplished and raised a force of roughly 12,000 (privates, officers, water carriers and artillerymen included) after initial setback during the Lalsot campaign. This is the force, whose performance and failures should shed some light into the reasons for the military successes and failures of Indian Sepoy formations. For analysing the performance of these troops, we can look at the their actions during a few battles. But first, we must at least look at the organisation of these troops under De Boigne and their overall disposition.
De Boigne's Campoos, Organisation, Logistics and Equipment
The most accurate description of De Boigne's corps, which at it's zenith reached two brigades in 1793, exists in an official note prepared for the Governor-General Sir John Shore in the same year. We find that the 2 brigades were subdivided into 10 batallions each, 6 of which which recruited from Oudh and made up of upper castes (Brahmins and Rajputs/Purbiyas) armed with flintlocks and were called Telingas. The remaining 4 were recruited from Rohillkhand, they were called Najibs and were armed with matchlocks. Each Batallion was made up of 8 companies of 68 men each (52 privates, 12 officers, 2 bandsmen and 2 water carriers otherwise known as bhistis) and 23 staff members ( 10 officers, 1 surgeon, 2 clerks, 1 bhisti major, 5 musket stock makers and 1 pandit), giving the total strength of the battalion as 567 men. This gives the total strength of the Campoos as around 12,000 men. Each batallion had two European officers i.e a Captain and a Lieutenant at Rs. 400 and Rs. 200 a. month respectively. A European Sgt. Major at Rs. 60 a month and the highest Indian officers were the Subahdars at Rs. 40 a month. The salary of each man of the rank and file was Rs. 5 a month.
To each brigade were attached 1000 Ruhellas (Afghans from Rohillkhand), armed with matchlocks, meant to act as skirmishing troops, capable of making use of the terrain and sniping at the enemy in defensive positions.
The cavalry was made up of (A) The Guards Regiment or De Boigne's personal guard of 300 regulars (men and officers), mounted on bay colour horses of excellent breed and quality, plus 75 irregulars for skirmishing and 32 mounted gunners for the light "galloper guns" attached to this formation, bringing the strength to 407 men. (B) These were the Cavalry attached to the brigade, 150 regulars (men and officers) and 75 irregulars each. These were all shiladars or men who provided their own mounts and equipment, for double pay. There were no Europeans in the cavalry.
Finally, was De Boigne's magnum opus. His artillery. Each batallion had 5 guns attached to it, making a total of 100 field pieces, plus the 4 (3 pounder) galloper guns of the Guard cavalry and the "Park of Artillery" consisting of 1000 men. The ammunition provided to these formations was at a rate so liberal, it was unknown anywhere else in India. 45 rounds of grape and 12 shells for each howitzer, 400 rounds for each 3-pounder and 300 rounds for each 6-pounder a piece. Each gun was drawn by 8 bullocks and their tumbrill by 12 such beasts. 4 camels carried 240 rounds each for each "galloper gun", the guns being manned by 8 mounted gunners each and drawn by 2 horses each and never unlimbered, so as to pour death into the enemy lines at a moments notice. The man in charge of manufacturing De Boigne's arsenal was a Scottish watch-maker of great skill and abilities, by the name of Sangster. He was first appointed in charge of the arsenal and factory at Agra and then all other factories/karkhane passed under his supervision. According to EEIC observers, his muskets which were produced at Rs. 10 each were equal in quality to EEIC standards. Meanwhile his cannons were superior to all other native powers and almost a match for European ones. Wellington himself marvelled "The iron guns are European made.... The brass guns, howitzers and mortars have been cast in Indian but the whole have a design and execution of a European artists..... The gun carriages are strong and good, after the French design"
In terms of logistics he hadn't slackened either. Each batallion had 2 camels to carry 8 large bell tents for the sick, another 2 camels carried tents for the Golandazes and Khalasis attached to the guns, and 16 more to carry the sepoy's baggage. A total 20 camels per batallion, along with 2 hackery carts to carry the arms of the sick, tools for the sappers and wood cutters as well as other equipment of note.
Finally, a word on De Boigne's consideration for the men who fought for him. He ensured that "any man wounded received a gift, and in proportion to his wound anywhere from 15 days to 3-4 months pay" without any stoppage of salaries during his time of cure. The disabled reiceved a pension for life, equal to half their regular pay, plus lands, and the deceased men's families were given the man's lands and property as compensation. These measures placed him above any Indian Prince of the era. Caring for his men, something most Indian states ignored. As such, in later campaigns, he commanded more respect and loyalty than most contemporary commanders.
BATTLE OF PATAN, 21st of JUNE, 1790
The seeds for the campaign and battle of Patan were sown in the aftermath of the Battle of Lalsot fought three years earlier in 1787. Mahadji as Vakil-i-Mutlak, had demanded from the Jaipur Raja his arrears, due to the Mughal Emperor who was his nominal suzerain to the tune of Rs. 63,00,000. These the Raja refused to pay, and under the guise of negotiations forged an anti-Scindia alliance with Jodhpur state and a few Mughal general such as Ismail Beg. This alliance faced the vanguard and forward detachment of Scindia's army at the Battle of Tunga (Lalsot) in 1787. The main body under Scindia being miles away. The Sepoy batallions at this stage had numbered only 1300, yet they gave a good account of themselves, rallying under Boigne despite initial setback and while the battle was tactically indecisive, the event was a strategic failure for Mahadji who was now in worse off conditions. He was already under debt of Rs. 80 lacs at Mathura when he was made Vakil-i-Mutlak, his payments for his troops were in more than 30 months of arrears and now his army and morale were weakened. Yet, Mahadji executed a steady retreat yo Mathura. He had struck his own coins, the "Nana-Shahi ruppee", he provided ample funds to De Boigne to raise new batallions and the latter raised, drilled and organised 13 batallions in 6 months. Mahadj had sworn as he retreated from Lalsot, when he turned to face the land or Jaipur and said "If I live I shall burn Jaipur and Jodhpur to ashes".
The campaign had begun in 1790, and the two armies came face to face on 21st of June. Until about sunset, neither side committed its forces in the fighting, exchanging cannon fire and skirmishing with their troopers. By dusk, the Rajputs retreated to their camps, while the Marathas maintained their positions. This was when the realm fighting began, owing to unforeseen events. According to Jadunath Sarkar : 3 hours before sunset, some Maratha Pindaris from the left wing of Maratha lines, managed to seize animals that were a part of Ismail Beg's contingent. This inevitably led to a small skirmish with Ismail Beg's men. General de Boigne then directed his guns on Ismail Beg's contingent. Caught on unaware, the murderous fire of Maratha guns proved to be deadly. Gopal Bhau and de Boigne, sensing victory, went for the kill. Marathas descended upon enemy camps. Taken aback by the suddenness and the ferocity of the Maratha attack, Rajput resistance capitulated, many were slaughtered in their sleep while others were too intoxicated to fight. The only event worth noting was the Rathor charge on the Maratha right wing. The 4,000 strong Holkar contingent was saved by swift reinforcements sent by Gopal Bhau. The Jaipur Nagas were forced in their positions by the two battalions sent by Boigne. De Boigne after routing the centre and left wing of the alliance, turned all of his forces to the right. The Rathors were soon surrounded and routed, resulting in heavy losses and the death of the Jodhpur general Gangaram. As a result of this action, Ismail Beg's forces were completely destroyed around 15,000, and the total losses in the Rajput side was roughly 20,000, including 3,000 Rathores.
BATTLE OF MERTA, 10th of SEPTEMBER, 1790
Patan, was not the end of the struggle between the Rajputs and the Scindia. While the Jaipur army was broken, the army of Jodhpur, the Rathores of Marwar, still was willing and able to put up a fight. Once again, a battle was to be fought and De Boigne and his sepoys gave an excellent account of themselves in this action as well. First, by marching before dawn close to the enemy camp, opening fire and breaking the enemy left and infantry. Next, when the Rathores countercharged at Captain Rohan's detachment and pushed them back on acccount of the latter having strayed some distance in excitement from the main Sepoy line, the sepoys reformed and stood their ground.
Seeing an opening between the weakened detachment of Rohan and Boigne's main line, the Rajputs attacked in full force, the mounted levies organised into 7 divisions. They wheeled around De Boigne's foot, hoping to find the side and exposed rear of the formations, to ride down the infantry. What De Boigne presented instead was a hollow square. Once again, trained and disciplined artillery and musket fire, tore through Rathore lines. Meanwhile the Rathores, failing to break the infantry, charged straight towards the Deccani horse stationed in the infantry's rear. This contingent, broke on first impact under Rajputs pressure, but after being relieved and fighting a grim melee for around 2 hours, they managed to push back the Rathores, who were now spent and routed.
But the Battle would not be over before one final tussle. In the words of Lewis Ferdinand Smith, a British officer of the Campoos :
It is impossible for me to describe the feats of bravery performed by the Zard-Kaprawalas or forlorn hope of the enemy. I have seen, after their line was broken, fifteen or twenty men only return to charge one thousand infantry, and advance within ten or fifteen paces of our line, before they were all shot. It is but just to the enemy to acknowledge that, considering the situation in which they were found, and the disorder consequent thereto, they behaved very valiantly, as they actually cut down some of our people at their guns, and two of them with a desperate fury and intrepidity, made at De Boigne himself and might possibly have killed him if they had not been hewn in pieces by his bodyguards
OBSERVATIONS :
Why did the Indian Sepoy formations ultimately fail?
So far we have noted how well the formations were organised, how they conducted themselves in operations and battles. And yet, ultimately, these sepoys failed against the English such as at the Battle of Assaye 1803. So, one must wonder why? Ofcourse, there are reasons such as the fact that De Boigne had resigned and left for France in 1793. That a duo such as Mahadji and De Boigne was rare and could not be imitated. That Perron, the new commander of Scindias sepoys betrayed his employer. But, when we look at the formations of native states in their entirety, certain fundamental problems present themselves and may answer the question as to why the native princes failed to defeat European forces despite having regular infantry formations trained along European lines.

Their Campoo batallions could never truly hold their own against a determined European force : Reason here being, the inherent problems with such a formation. The archaic elements of Maratha armies in the period, namely their Pindaris and their Silhadars, that is, their irregular cavalry, was supported by loot and plunder, while the Campoo were paid regular salaries, often higher than the irrelguar forces, since they were recruited from foreign lands and were obliged to fight in campaigns in foreign lands. The Campoo were recruited from the upper castes of Oudh and Rohilla Afghans, and had a sense of superiority about them, being the backbone of the new model armies. These two elements were always in a state of friction, and the common saying among the archaic irregular elements of the army was Paltan barbad zhala, meaning the Paltan was destroyed, which caused massive panic and rout among the older elements, which knew that without support in terms of infantry and artillery firepower, they could be swept from the battlefield like dust. A bitter lesson they had learned after the defeats in the Carnatic wars and the example of Buxar. Therefore, cohesion among the arms of the army was lacking. Cavalry depended on infantry and relied on the latter to take the strongest enemy positions and wouldn't mind if losses in life were suffered by the same. The infantry for its part, while an efficient arm, was doubtful of the abilities of the cavalry, whom they considered outdated and Inferior and capability and bravery. This compared with the professional troops, raised and trained in European fashion, disciplined and employed with better cohesion on the battlefield by professional and career officers and veterans, and the answer as to why native armies ultimately lost to European powers becomes clear.
The inability of Maratha Princes to modernise : The Campoo was the product of latest in military thinking. Of complex organisation, costly equipment and professional soldiers and officers. These required deep pockets. Now, keep in mind, that men like De Boigne when given the same land grants as Indian nobles, were able to finance and support a force of Oudh sepoys (Brahmins and Rajputs) and Rohilla Afghans, that conquered kingdoms across north India. Why? Well, because unlike Indian princes who used their treasury to decorate their halls and spent their time in their harems, De Boigne knew, his fortunes could only be realised by the efficient utilisation of his time and energy. Added to this was the fact that Scindia and Holkar were almost illiterate. They were inefficient in matters of administration. While they did conquer vast territories, they failed to check accounts, to curb corruption, to frequently visit their jagirs and ensure peace and stability which was so necessary for good harvest and a happy peasantry. Despite being rulers of such vast territories, they were not gifted with the same understanding and ingenuity of in the realm of development of administration and institutions as De Boigne and European military adventurers were. De Boigne was given jagirs by Scindia, when the former complained that his sepoy's salary was constantly in arrears and the latter gave him jagirs to administer and pay the salaries of his troops and for his own reimbursement. De Boigne raised the revenues realised from these jagirs, by regular inspection, vigilant accounting and strict administration, meaning his peasantry was happy, business and trade boomed, cash crops were cultivated and a higher revenue was realised. As an example - De Boigne settled European indigo planters in Aligarh. At Jalali, one such planter was Thomas Longcroft, who managed a factory. He produced between 3000-5000 maunds of finished indigo per season, which in 1830, went at Rs. 200 per maund, single handedly raising the revenue of the district by Rs. 10,00,000 if we suppose that indigo went by the same rate in 1793. How much could a Rajput or Maratha jagirdar realise as revenue from his district? Not even close.
The inherent problems of the Campoo Corps : The problem with these Campoo Corps was that they were created and officered by Europeans. Usually English and French. These men owed no loyalty to the Prince who employed them, save for the loyalty a mercenary owes to his employer, based on money. Therefore, they would always be unreliable. They would be even more unreliable when facing a European foe. These tendencies of switching sides, of treachery and betrayal, required of man of high calibre and moral standards such as De Boigne, to check them. But men like De Bogne are hard to come by. As was inevitable, such a system failed, as this innovation was not the result of Indian, or native ingenuity, but rather a foreign import. Mostly an ornament, rarely a tool.
No unified Grand Strategy, No cohesion, poor quality of leaders : When we look at the Maratha efforts against the British in the Second and Thrid Anglo Maratha wars, we find a few things to be clear. The quality of the leaders on the two sides was skewed in favour of the British. Lifelong professional soldiers and officers, will almost always beat an army, raised and officered by archaic standards, save for a few instances when a truly "heavenly born general" like Bajirao commands the outgunned forces. Maratha princes, weren't clear and upto date on the latest in military thinking and strategy. And above all, they simply didn't work together. Infighting among the Scindias, the Holkars and the Peshwas, cost them their sovereignty.
The Indian Sepoys were just as effective as their British counterparts : At a fundamental level, that is, when comparing one soldier to another I might agree that the average Oudh Brahmin Sepoy had the mental and physical courage, and was drilled sufficiently well to be compared to an average British regular. However, the problem here is the comparison of the sepoys as a formation namely the Campoo and the British regulars in their regiments and batallions. Here, the following must be taken into consideration. The sepoys, were officered largely by a European corps of officers, most of them military adventurers, some with experience in one army or another, some who were merely tailors or carpenter's sons and others yet, sailors or fortune seekers. All in all, given their education, their adherence to the command and organisation of men like De Boigne, these Europeans could and did lead the Oudh and Rohilla sepoys against other "Indian" enemies and managed to prevail upon them especially during the campaigns of Mahadji Scindia where they were directly commanded by De Boigne. However, these successes when analysed in their entirety reflect the absolute reliance that the lower wrung of officers and indeed the rank and file of sepoys placed on the direct leadership and command of De Boigne, or a man like Perron. Without such competent leaders who had at least some combat experience, the batallions could not perform well. In terms of initiative on the part of the lower wrung of officers, European or from Oudh, there was little to none. In terms of morale, without De Boigne, or without immediate success, morale crumbled and collapsed when pressured. Compare these situations with the officer corps or the men of rank and file at the disposal of Generals like Lake or Wellesley during the Second Anglo Maratha war and you have a different picture

The first and major difference between the British and Indian infantry formations was that the former was born out of indigenous innovation. It was a result of the gradual improvement and evolution in military thinking and organisational abilities of Western European nations such as England, after the wars they had fought in the 17th century, and a optimisation of their military system and structure to accommodate such elements, institutions and structures as to allow for the regular infantry to be what it was in the mid 18th century. A well-drilled, well officered, well led, well supplied machine, supported by the simultaneous innovations in the realm of administration, commerce, agriculture and industry which allowed nations such as France and England to raise their revenues and budgets and be able to invest into and maintain such expansive forces as necessary to control their Empires and domains. Compare these to the batallions of De Boigne raised for the Scindias. The very concept was a foreign import. And it was only adopted in earnest owing to the spectacular defeats suffered by Indian powers against trading company forces and Sepoy troops, in the Carnatic wars. This adoption also wasn't complemented with the adoption of the latest in administrative and institutional innovations. Institutions such as a well structured and regulated banking system and sector were absent. And Indian monarchs still heavily relied on land as a major source for their revenues, commercial farming still being a largely ignored idea. Therefore, these infantry formations raised under such circumstances, were usually not paid on time with the payments of the batallions under De Boigne's command at the start of the Lalsot campaign in 1787 being in around 30 months of arrears. They weren't compelled by a sense of professionalism, but rather a mercenary spirit. They were foreign soldiers (from Oudh and Rohillkhand), serving a foreign entity (Scindias of Gwalior) on foreign soil (central and southern India).
Hence, you had problems of morale, loyalty, professionalism, competence of the officer corps, leadership, finances and logistics and above all, the difference in their very nature. I have already opined on why when seen as a part/arm of the Maratha armed forces, the latter were essentially disfunctional, owing to the psychological aspects of such a force in Maratha armies, whose largest component (cavalry) was still archaic and outdated and to add to that, could not stand in the field against regular cavalrymen of the British armies.
Sources :
"The Fall of the Mughal Empire Vol IV" by Sir Jadunath Sarkar
"New History of the Marathas Vol III" by GS Sardesai
"Persian Records of Maratha History Vol II - Scindia as Regent of Delhi 1787 & 1789-91" by Sir Jadunath Sarkar
"Poona Residency Correspondence Vol I and Vol VIII and Vol IX" by Sir Jadunath Sarkar
People may find this in an answer format by me, over at AskHistorians as well.

Random FAQ about econs news you see on r/Malaysia

So this is just a small thing I notice -- Redditors like to post news report about random economic indicators without giving any context. Now, to be fair to these Redditors:

...some of the context is actually apparent from the news report (and some Google magic).
...I suspect that those Redditors don't know wtf those indicators mean, to begin with (not everybody studies economics)
...sometimes, I am part of the problem (lol)

Anyway, whenever I stumble across these threads, I will see something to the effect of "Is this good or bad?". Sometimes, I am tempted to answer, but then decide that it is too much trouble. At other times, I attempt to answer and find something shiny and simply wander off. To compensate for that time I got distracted by a Slime, I thought, maybe I should try to produce a quick and dirty FAQ.
Feel free to add/comment/argue/share your views on this post. It is good practice to verify whatever I say with whatever reference materials you want (or even ask AskEconomics), whether or not you agree with my answers. After all, for all you know, I may just be a lunatic behind a keyboard typing random bullshit (I do have quite a bit of free time thanks to MCO). For what it's worth, I can confirm that I do not specialise in Malaysian economics per se.
And now, without further ado....
I have a random econs question. What's the answer?
"It depends" and/or "It's complicated". You can literally answer any questions with "it depends", ranging from "Is our economy doing well?" to "How many state of matter are there?". This is mainly because:

A lot of the answers are indeed subjective
Economics, like most studies, is complicating and the answer may change especially if there are other variables in play. For questions about interpreting indicators, a lot of the answers depend on the specific context (e.g.: high/low-base effect. More on this later)

Obviously, this won't fly in the academia / professional life because your professors / bosses tend to the follow up with "Look here, you little piece of shit.... Depends on what?"
However, this post is obviously not an academic piece -- it is just here to give really basic answers. In other words, the answer "it depends" and "in my opinion" is implied for all answers in this FAQ. It goes without saying that at higher levels, there are so many exceptions to the answers that I give that, some of these answer may border on being "wrong".
Where do I even find most of the major economic statistics?
Two places, mainly. You can try the Department of Statistics (DoSM) or Bank Negara Malaysia (BNM). If you are looking for a consolidated place just for the headline indicators, you can try Tradingeconomics.
If you're a professional, there's always Bloomberg, CEIC, Haver, etc. The kind people at DoSM also has this release calendar so you know roughly when they are planning to release stuff.
So how important are the major economic indicators to most layperson?
So here is the good news: Most major economic indicators mean jack shit to layperson. Obviously, if your job has something to do with economics then... well, you are probably reading this only for light entertainment (or morbid curiosity).
Most major indicators like the GDP, Unemployment Rates, CPI, Foreign Trade statistics, forex, monetary statistics, etc. have very limited impact to most layperson's day-to-day activities. Also bear in mind that most indicators tend to be reported after the fact (a lot of indicators for a period are only reported about 1-3 months after it happened). In other words, in most cases, if the said economic has an impact on you, it probably already impacted you for some time already.
Also bear in mind that some of these not-as-important indicator gets picked up by the media anyway because... slow news days are a thing, and content is content (it is hard to argue that most econs stuff reported are totally irrelevant anyway).
That said, not all indicators are created equal; some of these are more important to the layperson than others:

Interest rates
Average prices (not necessarily inflation, per se)
Foreign exchange rates (Forex)
Equity market indicators

Don't get me wrong. Most economic indicators do serve a purpose (hence the reason why they are compiled in the first place). However, in a broad number of cases, the immediate impact to the layperson is relatively minimal (obviously, the not-so-immediate impact could be larger).

INTEREST RATES

So what's the deal about interest rates?
...or the one rate to rule them all (at least in Malaysia).
In general, if you are a borrower, the lower the rates, the better it is for you (you pay less interest). The most quoted interest rate is the Overnight Policy Rate (OPR) released by Bank Negara (BNM) on a few times yearly where they will either announce that the interest rate will remain unchanged or that it will increase/decrease (usually by 0.25-0.50%). This OPR acts as a guide to the actual interest rates for your loans (they tend to move in tandem). The OPR also has a more limited influence to saving rates. At the end of the day, your loans will be based on your bank's prevailing rates but the OPR strongly affects what sort of interest that your bank charges you.
Obviously the OPR has other impact outside the mundane stuff like household loans and savings. These rates also affect business loans, and hence the rate of business expansion. The higher the OPR, the more "expensive" a loan becomes, including cost of credit for businesses. In general, (BNM) raises OPR when they feel that the economy is overheating (e.g.: inflation and/or excess liquidity is starting to be an issue though there are other tools that BNM uses). However, if there is a pandemic threatening growth, BNM is more likely to lower interest rates (OPR was 3.00% prior to COVID-19 and currently at 1.75%).
Every time the OPR is announced, BNM also writes a short essay (that they recycle every now and then lol) called the "Monetary Policy Statement" about why they do what they did. This is a good reading material for layperson who wants to understand the context of the monetary policy decision or what the MPC (says) that they think about the economy... or more specifically....
What is this thing I hear about Bank Negara changing the Base Rate?
I saw someone asking this on Reddit but was too lazy to answer it back then. Sorry, anonymous redditor!
Anyway, it is pretty much BNM changing the way they get banks to present their lending rate to something they call "Standardised Base Rate", making it a bit easier for customers to compare rates across different banks. There is a separate FAQ on this here but it really shouldn't affect the actual borrowing from bank thingy. It is also worth mentioning that this will only be implemented somewhere next year.

INFLATION

Inflation bad... right?
For the layperson, this is mostly true. Inflation simply means stuff getting more expensive. That said, there are a few caveats.
Remember that while high inflation sucks but there is a hidden evil behind overly low inflation -- it is sometimes an indication of lower growth (i.e.: less consumer demand resulting in not as many stuff getting sold, resulting in sellers not being able to raise prices that much) -- one way of seeing this is to see how you are seeing boatloads of retailers discounting their stuff during this pandemic.
Broadly speaking, negative inflation (i.e.: deflation) is, at the minimum, viewed with some suspicion as it pretty much suggest that demand may be so weak that sellers are being forced to cut prices. At the extremes, it is possible that this may result in consumers putting off big-ticket purchases as they hope that prices continue to fall, and fall, and fall. It is also worth noting that falling prices tend to coincide with lower (if not negative) income growth. RIP increments.
That said, it is also true that some deflation may be benign, or possibly benevolent. This is sometimes the case when you see stuff like global oil prices falling. This is where context usually matters.
Interestingly, in the academia, it is not so much high inflation but volatile (and uncontrollable) inflation that is an issue. Volatile inflation tend to suck more simply because of the very uncertainty it brings. Imagine not knowing if your the salary you negotiated would be enough to feed you two months down the line, and you'll get the idea why volatile inflation tend to be the bigger issue.
So what is the most relevant indicator for inflation (for the layperson)?
Probably the Consumer Price Index (CPI). As the name implies, it measures consumer prices (i.e. stuff that are relevant to consumers) based on a survey called the Household Expenditure Survey (and as this name implies, a survey about how much households spend on a group of stuffs). Mind you, "stuff" includes both goods (food, fuel, books, clothes etc.) to services (healthcare, rental, etc.). DoSM then creates a hypothetical basket of these goods and services that is purchased by the average consumer and compares the prices to how much it would have costed in 2005 (i.e. the current base year).
The CPI is not in itself "inflation". It is the year-on-year growth that represents inflation. "Year-on-year growth", incidentally, is just a fancy way of saying that it is calculated by taking CPI from this month's (e.g.: Aug21) divided by CPI from the same month previous year (e.g.: Aug20), minus one, multiply by 100%. One side effect of this method of calculation is that if the same month of the previous year has an unusually high/low CPI value (say, due to COVID-19 driving prices down), the inflation for this month could be artificially lowehigher.
One simplistic way of interpreting inflation (e.g.: 3% inflation) is to imagine that stuff are (for e.g. 3%) more expensive compared to last year. For some households (especially those also seeing rising income), 3% is probably no big deal especially for the cheaper stuff (e.g.: if your monthly expenditure is around MYR1,000 last year, it would be around MYR1,030 this year).
In general, if inflation is around 2.5% (it isn't... not at the moment), things are probably fine. If it goes above 4% for a prolonged period (or below 1%), that is probably less of a good sign.
But the CPI doesn't reflect the prices that I actually pay! Are the figures manipulated?
It is important to remember that national CPI is pretty much the average price levels for Malaysia as a whole. There may be some (and sometimes significant) variations in price levels depending on where you stay due to differing demand, cost of doing business at certain locations, logistics, etc. In theory, it may make slightly more sense to look at the state-specific (or federal territory-specific) CPI for a better idea of what prices are like where you live.
Also remember that CPI is based on a basket of goods and services that DoSM estimates from a survey. In other words, the stuff you actually consume may differ from the basket. If you are (for example) on a keto diet, the 1.1% weightage for rice may not necessarily be applicable to you.
So how do BNM respond to these inflation?
Inflation management is actually one of BNM’s policy objectives.
In general, if inflation goes uncomfortably high, BNM is likely to raise interest rate (the aforementioned OPR). If inflation is low (and BNM believes that it is because of slower growth), BNM is more likely to lower interest rates. There are some pretty interesting formulas on how the central bank should raise interest rates (Taylor's Rule, etc.) but in practice, BNM tend to distinguish between temporary inflation (due to low base effects, or one-off effects) with broader shifts in prices (which is why core inflation gets mentioned a bit during the monetary policy statement).
What other indicators can I look at in the same vein of inflation?
Personally, the layperson is more likely to benefit more from looking at the "official RON95/97/Diesel Prices" that the government releases since those figures clearly and directly affects the de facto price paid for fuel prices (compare this to, say, prices for rice that can differ depending on the brand, the shop, the location, etc.). As far as consumption goes, fuel prices is a major component of CPI (roughly 8.5%) and more importantly, because most fuel affects transportation of the stuff you buy, it can have a small-to-medium spillover effect on the other stuff you buy.
The CPI shows that we have an inflation of almost 5%! Are we in a period of hyperinflation?!
I think if economists have a drinking game whenever they see the word "hyperinflation" mentioned in the context of a non-hyperinflation situation, they'd pretty die of liver failure.
As a rule of thumb, hyperinflation refers to a situation where you are seeing something like a 26% inflation per annum (depending on which standards you are using). However, that number is usually ludicrously high. I believe that the closest that we came to hyperinflation was during the 1970s (we came close to 24% in Mar74) and even this was a global thingy.
Incidentally, the real rule of thumb for hyperinflation is "doubling CPI in three years". As it happens, (100% + 26%)³ = (1.26)³ = 2.00 = 200%.
And now you know.

FOREX

What about forex? Having a stronger exchange rate is usually better... right?
For a layperson, this is broadly speaking true. Obviously, there are going to be exceptions (e.g.: if you get paid in a foreign currency, if you have foreign investments and want to bring it back to Malaysia, etc.).
So what's the deal about our exchange rate with the SGD / why is our ringgit (MYR) so weak compared to SGD?
This is one of the more complicated question thanks to the weird-ass way Singapore's monetary policy works (but seriously though, it is actually pretty neat). To simplify stuff, the ringgit is weaker compared to SGD because the SGD is stronger.
However, the SGD is stronger partly because it is a conscious decision by the Monetary Authority of Singapore (MAS) to use the strength of the SGD as a major monetary policy vehicle (or rather, MAS targets the Effective Exchange Rate). Since Singapore imports lots of stuff (including food and other necessities), forex has a major impact on inflation (affecting the price of stuff they buy overseas). Having a relatively steady appreciation of the SGD also helps attract foreign investments (as an investor, any returns you make from Singapore will also be boosted by a strengthening SGD).
This is not to say that the relative strength of the MYR is not a factor -- it is a factor, but it is worth mentioning this quirk in Singapore's monetary policy.
But isn't our exchange rate supposed to be weak so that we can export more stuff?
Sorta, but not really.
One of the popular argument on why the MYR is weak is to improve trade competitiveness, particularly with regards to selling palm oil or other primary commodities. However, this argument breaks down a bit when you consider that primary commodities is not really the bulk of our exports. We export more manufactured goods. If it is true that our exchange rates are wilfully weak, it likely means that we are screwing ourselves over seeing that many of our inputs, machineries, intermediate parts, etc. are actually imported. This means that we are actually paying more for these inputs. At a lesser scale, while we are net exporters, we do import quite a fair bit (especially for our inputs) and if it is an intentional design to keep our MYR weak, there will be some inflation arising from the weak ringgit relative to whoever we import from (see the question on Singapore).
But didn't BNM intentionally peg our currency at MYR3.8/USD during the Asian Financial Crisis (AFC)?
Yes, but it is difficult to argue that the peg was to improve our relative competitiveness. Bear in mind that one of the main effects of the AFC is to make our forex extremely volatile due to speculation. Remember that MYR did depreciate well-below MYR4.0/USD at the height of the AFC so if it was really a peg for competitiveness, it would have made more sense for BNM to peg at MYR4.00/USD or some even higher rate.
I think the safest (but most useless) answer for why is our MYR the way it is to simply say that that is how much the market values the currency. Granted, it is indeed a useless answer but for the most part, this is not necessarily a major concern. By BNM's admission, the MYR is not intended to be an internationalised currency (freely tradeable) with BNM arguably pulling off some capital controls as recently as 2016 (on non-deliverable forwards).
Especially in the context of MYUSD currency pairs, it can be argued that the ringgit sucks against the USD simply because the USD is simply a stronger currency -- the demand to hold USD for its strength and "safety", especially during volatile times, helps further strengthen the value of the USD (and EUR, CHF, JPY, etc.).
Some terrible political bullshit just happened and our Ringgit got hit. Is it because of the political bullshit?
Beats me. Generally, we know that political bullshit (or any type of bullshit) tend to be bad for the ringgit. However, how much of the depreciation is a consequence of said bullshit is another question altogether.
That and remember that if it is just USDMYR thingy, the ringgit could be depreciating because of some (positive) bullshit going on in the US (or simply outside our control). In short, it is easier to read tea leaves than to read bullshit.

EQUITY MARKETS

How about the equity market indicators? How important are they to the layperson?
Obviously, if you invest in the equity market, this indicator is going to be slightly more important for you (though realistically, most retail investors only have to worry about their own counters). Strictly speaking, equity market indicators are closer to financial indicators rather than economic indicators. However, it would be naive for any analysts not to at least attempt to look at the equity market for clues on how the economy is doing. That said, the linkages between how the broader economy and the financial markets is not always clear. In general, a vibrant capital market (for equity and bond markets) is usually a good sign for the economy -- the trick is to quantify "how good" it is and to analyse the context.
Some terrible political bullshit just happened and the equity index fell. Is it because of the political bullshit?
See my answer on Forex. For this, I also spoke to many of my analyst friends in equities and the resounding answer is "hell if we know".
To clarify, we know that political uncertainties is very likely to result in the markets looking more downcast -- uncertainties (and political bullshit) is definitely not conducive to the markets. On the other hand, it is not less easy to know how much of the fall is because of political bullshit. This is why some reports prefer saying something to the effect of "the fall coincides with the political bullshit" rather than directly linking the two.
One good rule of thumb is to compare your favourite KLSE index with other Asian indices (e.g.: STI, Nikkei, KOSPI, etc.). If their index is also down when Malaysia's index is down, this may suggest that political bullshit is only one part of the equation.

SOME OF THE OTHER ECONS STUFF THAT APPEARS ON MALAYSIA

How should I read into GDP/National Accounts?
So think of GDP a bit like a report card for how much the economy did (bearing in mind that GDP figures are normally released roughly around two months after the quarter it is reporting). This makes GDP a bit of a post-mortem statistic -- it is after all reporting something that happened about 2-5 months ago.
In general, higher real GDP growth is better (in "normal" times, the rule of thumb for a developing country is to shoot for above 4% growth). However, specific to where we are now (COVID-19 pandemic) and given that we had a pretty bad 2020, recall that GDP statistics are also calculated on a year-on-year basis. Since last year saw exceptionally poor economic performance, even a relatively poor economic performance this year may still represent a positive as long as it is better than last year. This is pretty much the "low-base effect" that we talked about earlier.
Some economist like using the seasonally-adjusted quarter-on-quarter calculation instead. This means that we compare Apr-Jun21's figure with Jan-Mar21's figure. However, the twist is instead of taking the conventional real GDP number, we refer to the "seasonally-adjusted GDP" (which is also released by DoSM).
What is this "seasonally-adjusted GDP"?
This simply means that after producing the GDP figure, DoSM takes an extra step and attempts to remove seasonality from the figure.
In other words (and using GDP as an example), these figures are adjusted (usually using a programme) to account for the fact that economic activity is usually the lowest during the first quarter of the year, before steadily rising in the second, third and fourth quarter of the year. The programme usually considers if there are certain recurring events that may artificially cause GDP to be lower or higher during a certain period (e.g.: holiday streaks, cultural factors, etc.).
Isn't a higher GDP a sign that there is inflation?
You're thinking "nominal GDP" (and even then... it depends). Most news reports tend to report the real GDP -- i.e. the GDP with price effect (or inflation/deflation) removed from the computation.
How should I read into Industrial Production Index?
This gets released roughly two months after the month it is referring to. Higher growth is generally better (during "normal times", you're probably going to see growth anywhere around 1-10%). In practice, despite the headline IPI being the main indicator, we tend to be more interested of the manufacturing sub-index (and in particular, the E&E sector, Chemicals, Plastics, Rubber, Petroleum and F&B sector due to their relative importance.
How about the Budget?
Pretty sure that Malaysia will have copious amount of Budget stuff when the time comes (and it is a bit too heavy to explain here anyway). Suffice to say, this year's budget will certainly be interesting, both for its actual content and the political backdrop.
Wait, you didn't mention anything about unemployment rates as part of the important statistics that laypeople should look at!
I think Harry Truman (former US President) says it best with "It's a recession when your neighbour loses his job; it's a depression when you lose yours." While it is certainly an important statistic, to the layperson, higher or lower unemployment rates do not directly affect them (unlike, say, inflation or stuff like forex). Sure, it is good for a layperson to understand these statistics (especially when adjusting their expectations for raises, promotions, etc.) but overall, it is not really a direct relationship of sorts.
In case it isn't already obvious, lower unemployment is usually better. You are usually looking for something from 3.0-3.5% (we are at above 5.0% now).
So tell me about foreign trade and how do I read it?
In general, you are looking for a positive export growth if possible (these figures can vary pretty wildly). Imports tend to rise with exports (partly because some of the imports are actually inputs for the stuff we export).
If you want to be more specific with the foreign trade report, look for the usual suspects under the Exports portion of the report: E&E, Chemicals, Plastics, Petroleum, etc., and Palm Oil. For imports, it may be better to breakdown the imports by seeing looking at the major import categories namely capital goods (stuff we import to use as input), intermediate goods (usually semi-complete stuff we import to use as input), consumer goods (stuff we import for our own use -- while the cliché is to keep this low, higher consumer goods import is arguably a sign of rising domestic consumption).
Additionally, other important stuff include trade to certain major trading partners (e.g.: China, US, EU, ASEAN, etc.).
Some news site likes to report the Purchasing Managers Index (PMI). Is it relevant?
Sorta. Kinda. Maybe. It is relevant in that it is a proper survey conducted by IHS Markit and is based on a survey result of what purchasing manager think about a few manufacturing-related topics including output, new orders, backlog, stock of purchases, delivery time. Since this is based on responses from actual people in the industry, this is generally a reliable picture of how the manufacturing sector look like.
Feel free to read their reports here (Malaysia's is usually within the first few days of the month).
The problem is:

In theory, a reading of "50" is supposed to represent a neutral position. The thing is, historically, Malaysians have been relatively pessimistic so we tend to see readings averaging around 48-49. The relation of the PMI with the actual IPI is also somewhat dubious (part of this has something to do with the difference in weighting but some parts may suggest limited information available, even to the people in charge).
Unless you are a subscriber, you are probably only going to get the headline figure (arguably, the output index may be the one that is more closely related to actual production). IIRC, this is true, even if you somehow have access to a Bloomberg terminal.

So sure, it is a useful tool to have (IIRC, Malay Mail likes to publish this) in that you could use the figure to make some form of analysis, only if you are aware of the limitations.
Every now and then someone posts something about International Reserves. Is that important?
Well, yes...
I mean, to the layperson...
Oh, then "no".
That number is basically BNM's "bullets" that they can use for their monetary policies and back certain liabilities. If that figure drops too low, expect trouble. On the other hand, because it is so important, central banks tend to take extra care to make sure it doesn't dip too much (or there will be an issue of confidence in the country's creditworthiness).
In general, you are probably going to see the signs of this becoming a problem waaaay before it becomes an actual problem.
To make the statistics more digestible, this statistic is usually given in the context of how many months of retained imports it can finance (since imports is one of the way we use foreign currencies) or in relation to the short term external debt (i.e. foreign debt that must be paid secepat mungkin).

Latest analysis of the Turkish Lira situation

From the ZeroHope website:
Yesterday, we discussed how Erdogan's shocking "plan" to rescue the Turkieh lira - once it crossed the red line of 18 vs the USD - came into being, and how it will eventually make an already dismal situation even worse, because it really represents a massive stealth "rate hike", one which will put huge stress on Turkey's balance sheet and will make the government budget more vulnerable to future currency shocks.
“There has been an epic interest rate hike without calling it one,” according to Refet Gurkaynak, a professor of economics at Bilkent University in Ankara. “There will be a big burden on the budget when there is a sharp increase in the foreign-exchange rate. This kind of burden usually gets monetized, which means even higher foreign-exchange and inflation rates.”
For those who missed our explainers of Erdogan's cunning plan to stabilize the Turkish lira until the elections, here it is again in a nutshell: the Treasury will underwrite losses in new lira deposits in the case of another run on the currency. That puts a strain on one of the few remaining bright spots in Turkey’s economy -- its fiscal position -- and highlights a growing trend among policy makers to lean on the public budget to pay for the cost of misguided policies.
“We can say that the budget -- the last remaining anchor -- has been sacrificed to claim that a rate hike has been avoided,” according to Ibrahim Turhan, a former deputy governor of the Turkish central bank who is now an opposition politician. “In this way, the cost of the lira’s depreciation has been put on the society as a whole.”
The bad news is that Erdogan has taken an already hopeless situation and made it worse. The good news, is that he has managed to kick the can for at least a few weeks (perhaps months) until the big macro funds realize just how much more precarious Turkey's financial condition has become because for all the posturing, the fundamental driver behind Turkey's woeful financial condition - Erdogan's demands to keep rates lower despite soaring inflation - is not going away until Erdogan himself is gone.
Meanwhile, one thing many have ignored, is what was the actual cost now of Erdogan's panicked intervention.
According to preliminary calculations, the bottom line to keep Turkey's currency from a terminal collapse this week, is anywhere between $6 and $13.5 billion.
As Bloomberg reports overnight, Turkish net foreign assets fell by nearly $6 billion early this week amid president Erdogan plans to bolster the lira, suggesting Turkey made more unannounced interventions in foreign-exchange markets.
Confirming what many have dreaded for a while - that Erdogan is literally making up healthy economic numbers for international consumption while pillaging the country out of the back door without reporting it, Bloomberg notes that while the government has said it didn’t intervene, it lied and the fall of $5.9 billion probably signals a backdoor intervention similar to operations carried out over two years from October 2018, when state lenders sold dollars - typically those belonging to local private savers - to support the local currency.
What is perhaps even more alarming is that Erdogan actually thinks the international community is so stupid, nobody will notice what is going on.
As Bloomberg shows, net foreign assets dropped by $5,9 billion to minus $5.1 billion on Tuesday compared with $817 million on Friday, a number confirmed independently by the FT. Others' estimates are even more stunning. According to Turkey's Ahval website - which used data provided by a top economist and the main opposition Republican People’s Party (CHP) - the Turkish central bank spent upward of $13.5 billion of its foreign currency reserves to help defend the lira against record losses in December and then to help engineer a rally this week, according to data provided by a top economist and the main opposition Republican People’s Party (CHP).
Uğur Gürses, a former central bank official, said the sales totaled $7 billion on Dec. 20 and Dec. 21. The central bank sold the reserves via a backdoor method involving state-run banks, he said in an article on Wednesday for the T24 news website, citing official data.
The CHP, whose management includes former Treasury Undersecretary Faik Öztrak, who helped Turkey successfully run an IMF program in the early 2000’s, said in a report this week that forex sales between Dec. 1 and Dec. 17 totaled $6.5 billion, including $6 billion of direct interventions in the currency markets, Cumhuriyet newspaper reported on Thursday.
That was before Turkey’s central bank intervened - without any success - in the foreign exchange market on at least four prior occasions, all of which failed to halt the lira's collapse to a fresh record low of 18.36 per dollar on Monday.
That's when Erdogan's "whatever it takes" bazooka came out, and the reason why the lira plunged from 18 to 12 is because Erdogan gave the green light to drain billions in Turkish assets to offset the consequences of his catastrophic Erdoganomics, because while Erdogan's FX intervention to prop up the lira may have been secret, everyone knows that it is Erdogan's monetary policy and bizarro economic theories that were behind the collapse in the lira in the first place.
To be sure, blowing all those billions worked - for now: The lira appreciated as much as 25% on Monday after Erdogan spoke, its biggest daily jump since 1983, and has now gained more than 40% against the dollar this week.
However, we now know that this move wasn't the result of Turkish depositors willingly converting their dollars into lira but was the result of emergency actions taken by state banks, with at least one private lender also involved, said no less than four Bloomberg sources. The sales continued Tuesday, said the people.
Meanwhile, the best representation of Erdogan's historic intervention which first and foremost was meant to keep the authoritarian ruler in power and delay a public revolt from an angry population furious at the collapse of Turkey's economy, is that net Turkish reserves dropped by a record $9 billion to $12.2 billion as of Friday, the biggest weekly drop in data that goes back at least 2002.
But wait, it gets even worse: according to Goldman Sachs, more than $100 billion of central bank reserves were spent to prevent a disorderly depreciation in the lira last year alone, when the currency came under pressure after a series of large rate cuts to support the pandemic-hit economy.
Earlier this year, Erdogan said authorities used $165 billion of central bank foreign-currency reserves to weather developments in 2019 and 2020, and may use them “again when needed.”
In other words, when the true numbers finally emerge, the world will be "shocked" to learn that Erdogan has pillaged every last hard dollar (and ounce of gold)Turkey had, just to keep himself in power for a few extra months

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Afiliação de opções binárias Teresópolis

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RBI Alert List : Using these apps and websites will land you in legal trouble. This list includes popular apps like Octa Fx, Olymp Trade, Binono etc.

Reserve Bank of India has released a list of 34 forex brokers; which has been declared illegal

List of unauthorized forex trading apps and websites - RBI

PSA: Common scams, their modus operandi and tips on avoiding scams (REVISED)

General guideline if you have been scammed (Source: BNM)

Who to report to:

SCAM TYPE 1: SMS/CALL /MACAU SCAMS

SCAM TYPE 2: FINANCIAL SCAM

SCAM TYPE 3: ILLEGAL INVESTMENT

SCAM TYPE 4: E-Commerce SCAM

4.1 E-Commerce Scam (Shopee/Lazada)

4.2 E-Commerce Scam (Carousell)

SCAM TYPE 5: JOB SCAM

SCAM TYPE 6: LOVE SCAM

SCAM TYPE 7: ROAD SCAM

7.1 Road Scam (Oil and Smoke scam)

7.2 Road Scam (Tow Truck scam)

SCAM TYPE 8: CHARITY SCAM

SCAM TYPE 9: SCRATCH & WIN (used to be rampant but may make a comeback )

SCAM TYPE 10: HAJJ/UMRAH PACKAGE SCAM

OTHER SCAMS:

New to Investment? Here are some guidelines to identify your investment risk tolerance profile that can help you choose the right investment products.

PENDAHULUAN

3 KATEGORI PROFIL RISIKO INVESTASI DAN REKOMENDASI PRODUK INVESTASI

SEDIKIT CATATAN TENTANG EMAS DAN PROPERTI

ASPEK YANG PERLU DIPERHATIKAN TERKAIT DENGAN PROFIL RISIKO INVESTASI

REKOMENDASI PLATFORM

PENUTUP

Personal Finance 101: What School Should've Taught You (Growing Your Money)

Message from BNM Governor MI

PSA: Common scams, their modus operandi and tips on avoiding scams

​ IMPORTANT!!

General guideline if you have been scammed (Source: BNM)

Who to report to:

SCAM TYPE 1: PINJAMAN TIDAK WUJUD

SCAM TYPE 2: PARCEL SCAM

SCAM TYPE 3: LOVE SCAM

SCAM TYPE 4: ILLEGAL INVESTMENT

SCAM TYPE 5: FINANCIAL SCAM

SCAM TYPE 8: INHERITANCE SCAM

SCAM TYPE 9: E-Commerce SCAM

SCAM TYPE 10: JOB SCAM

SCAM TYPE 11: SMS/PHONE CALL SCAM

SCAM TYPE 12: MACAU SCAM

SCAM TYPE 13: SHOPEE SCAM

SCAM TYPE 14: LAZADA SCAM

SCAM TYPE 15: CAROUSELL

SCAM TYPE 16: HAJJ/UMRAH PACKAGE SCAM

SCAM TYPE 17: SCRATCH & WIN (used to be rampant but may make a comeback )

Dad asked me to share photos of my IC and licence for a forex trading scheme. Is this legit?

How effective were European-style infantry units as raised in the 1800s in India? With a special reference to the Campoo batallions of Benoit de Boigne and his employ under Mahadji Scindia

Random FAQ about econs news you see on r/Malaysia

INTEREST RATES

INFLATION

FOREX

EQUITY MARKETS

SOME OF THE OTHER ECONS STUFF THAT APPEARS ON MALAYSIA

Latest analysis of the Turkish Lira situation

MEKANIK SAHAM EP03: CUT LOST

IMPORTANT!!