13/10/2025

MONDAY | OCT 13, 2025

12

BANKING & INSURANCE

Malaysians view ‘good life’ in new light: Manulife

Hong Leong Bank wins Euromoney Best SME Bank in Malaysia award for second year PETALING JAYA: Hong Leong Bank (HLB) has been named Best SME Bank in Malaysia at the Euromoney Awards for Excellence for the second consecutive year. The recognition adds to similar wins this year from The Asian Banker and Asian Banking & Finance, cementing HLB’s position as an industry leader in SME banking. HLB’s SME customer base grew 18% year on-year to more than 320,000 in 2024, covering both borrowing and non-borrowing segments. The growth was supported by innovative financing solutions, including over RM280 million approved for more than 360 SMEs under the Government Guarantee Scheme Madani 1.0 (GGSM 1.0) last year. The bank will continue providing financing under GGSM 2.0 in 2025 and beyond. It has also rolled out full-digital onboarding for business accounts, including sole proprietorships, and enhanced both business and foreign currency accounts for SMEs. HLB group managing director and CEO Kevin Lam said the bank’s core purpose was to empower customers to grow their wealth. “By championing the growth of SMEs, who form the backbone of the Malaysian economy, we are directly contributing to the nation’s prosperity,” he said. Lam said the bank positioned itself not just as a service provider but as a value-adding partner. “Through a powerful combination of digital tools and expert advisory, we help SMEs navigate a fast-changing global economy. These recognitions are a testament to the trust we share with our SME customers and reaffirm our commitment to becoming the best-run bank in Malaysia.” For the financial year ended June 30, 2025, HLB reported a 7.5% year-on-year increase in loans to domestic business enterprises, surpassing RM70 billion. SME loans and financing rose 8.1% to more than RM40 billion, while its community SME banking portfolio grew 10.4%. Zurich Malaysia unveils plan for EV owners, partners Gentari on charging stations PETALING JAYA: Zurich Malaysia has introduced Z-Driver EV Protect, a compre hensive insurance and takaful plan designed exclusively for electric vehicle (EV) owners. The new offering enhances car insurance and takaful protection to cover EV batteries, home wall chargers, portable charging accessories and more. “EV owners face a unique set of risks that go beyond traditional motor insurance and takaful. Z-Driver EV Protect is designed to address these concerns, offering practical coverage that reflects how EVs are used today. It’s part of our commitment to making protection more relevant, accessible, and aligned with our customers’evolving lifestyles,” said General segment chief distribution officer Foo Chuen Hou. Zurich Malaysia has also collaborated with Gentari Green Mobility Sdn Bhd, a subsidiary of Gentari Sdn Bhd, to support greater awareness and visibility of EV charging infrastructure nationwide. Through this collaboration, Zurich Malaysia has extended its brand presence to 13 EV charging stations at high-footfall destinations, including Suria KLCC, Kuala Lumpur Convention Centre, KLIA2 Gateway, The Gardens Mall, Paradigm Mall Johor Bahru, Gamuda Gardens and Putrajaya Sentral.

PETALING JAYA: Malaysian attitudes towards ageing and wellbeing are changing, as they increasingly prioritise a fulfilling, independent lifestyle over simply living longer, with most people saying that financial wellbeing has a direct bearing on how long they can stay mentally and physically healthy, according to new research from Manulife Malaysia. Released recently, the Malaysia section of Manulife’s 2025 Asia Care Survey (ACS) shows that 7 in 10 survey respondents say their financial wellbeing affects not just their mental and physical health, but also how long they live. The survey findings are based on responses from 1,000 Malaysians. “In Malaysia, we’re seeing a powerful shift in how people define a good life. It’s no longer just about how long we live, but how well we live. Our role is to make decisions easier by connecting health and financial confidence, so people can live better, not just longer,” said CEO Manulife Malaysia CEO Vibha Coburn. The ACS findings show that only a minority prioritise extending life at all costs, while the majority place greater value on maintaining health, independence and purpose. The report shows the desired lifespan is 68 years, significantly lower than Malaysia’s average life expectancy of 76 years, highlighting that Malaysians are more focused on “adding life to years” than on “adding years to life.” This reflects a broader recognition that longevity must also be financially and emotionally sustainable, not just biologically possible. The meaning of “healthy” changes in later life. Nearly 8 in 10 Malaysians define being “healthy” as maintaining independence and capability, according to ACS findings, while far fewer associate it purely with being disease-free. The survey also reveals how financial stress is intertwined with wellbeing. Almost half of respondents worry about running out of money before they die, and among those under 55, many believe they will not have sufficient retirement funds. More than 60% expect to rely on the public mandatory retirement scheme and public healthcare during retirement. “When people say being ‘healthy’ is about independence, they are connecting physical wellbeing to financial security. If financial stress undermines that independence, health itself is compromised,” Coburn said. Although most Malaysians want a steady income in retirement, their portfolios tell

o It’s not just about how long but how well, and financial wellbeing affects physical and mental health, survey shows

term, households risk being exposed to inflation and longevity risks over the long run. Manulife Investments Malaysia CEO Jason Chong said, “It’s no surprise that the survey shows people wanting steady income and resilience. Yet, many Malaysians rely heavily on cash, which doesn’t foster resilience. Cash, if just left idle, will inevitably be eroded by inflation over time, leaving the retiree with less money. “Working out what to do can seem daunting, but a good starting point would be to talk to an independent financial adviser who can show how to diversify, add income engines that provide recurring cashflow, and stay invested even through retirement,” he added. “Remember – it is possible to turn savings into lasting staying power,” said Chong.

another story. The survey shows that cash is king – cash makes up around half of Malaysians’ liquid assets across all age groups. While ensuring a steady income stream during retirement is considered important, asset diversification remains low on their agenda, with just 29% ranking it as a priority. At the same time, many continue to rely on Malaysia’s public mandatory retirement scheme as their main retirement pillar, raising questions about its adequacy in the face of potentially longer lifespans. The mismatch between aspirations and behaviour is one of the clearest gaps highlighted by the ACS 2025. While cash and the public mandatory retirement scheme provide convenience and comfort in the short

From left: Chong, Coburn and Dr Hafidah Ishak of Universiti Putra Malaysia’s Faculty of Medicine and Health Science, Department of Psychiatrist,

Ryt Bank adds Chinese-language option to mobile app PETALING JAYA: Ryt Bank has extended the nation’s spirit of unity and inclusivity with the launch of a Chinese-language option in its app, complementing the existing Bahasa Malaysia and English versions. interest of up to 4% per annum with no lock in period, while the Ryt PayLater feature provides instant credit of up to RM1,499, with cashback rewards on DuitNow QR payments and double cashback with select partners such as Yes stores.

Malaysia’s leading digital bank, ranking as the No. 1 finance app on the Apple App Store and No. 2 on Google Play. It is also the highest rated digital bank among local customers. The bank has also introduced an enhanced version of its Ryt AI feature, which will enable QR payments alongside transfers and bill settlements. The updated toggle function is designed to make every transaction faster and more seamless. Always on and capable of understanding natural language, Ryt AI will help customers pay, track and manage money instantly, combining security, simplicity and human-like interaction. The app will also offer a fully integrated JomPAY flow, allowing customers to manage bills and payments effortlessly in one place. Ryt Bank continues to roll out smart banking solutions tailored for everyday Malaysians. Customers currently enjoy daily

This move ensures that more Malaysians can now access secure and seamless banking in the language they know best, marking another step forward for Ryt Bank in driving inclusive digital finance. “As the world’s first AI-powered bank, Ryt Bank is committed to making innovation accessible to our community. By offering Chinese in the app, Ryt Bank ensures that every Malaysian feels included in the future of banking. We are building a smarter, more inclusive financial system for everyone,” said YTL Power International managing director Datuk Seri Yeoh Seok Hong. Since its debut, Ryt Bank has emerged as

The upcoming Visa-powered Ryt Card will allow users to switch instantly between debit and credit in-app, offering unlimited overseas cashback, zero foreign transaction fees, zero nationwide ATM withdrawal fees and exclusive partner benefits including Shopee vouchers and discounts at YTL Hotels restaurants. Security and trust remain central to the bank’s offerings, with enterprise-grade protection including biometric login, real time fraud alerts and Perbadanan Insurans Deposit Malaysia (deposit insurance corporation) protection of up to RM250,000.

Banking & Finance

Education News/Health & Wellness TUES

ESG

Property

WED

MON

THUR