Revised Maybank GIA-i – The Fairy Tale is OVER

Maybank GIA-i is No More

Maybank Dividend
Malayan Banking Berhad

It’s official, my favorite place to park my excess cash has been replaced with something alien. Maybank yesterday announced a change to their immensely popular Maybank GIA-i account. Coincidentally, I had a post up about this account just last month, lauding it’s high interest rates and liquidity. Sadly, all good things must come to an end. I just didn’t expect the end to come so swiftly and abruptly.

The ‘new’ GIA-i will take effect from 16 June 2017. Interest rates will be reduced then. On 1 August 2017, your liquidity will be taken away. The revised features and rates can be found below.

The Revised Features

Maybank GIA-i Revised Features
Maybank GIA-i Revised Features

These are the ‘revised’ features we are left with.  You basically forfeit your interests/profit if you uplift prematurely. It’s similar to CIMB’s Unfixed Deposit.

The Revised Rates

Maybank GIA-i Revised Rates
Maybank GIA-i Revised Rates

As you can see, you get your 3.45% only when you invest for 48 months. They even threw in a 3.55% for a 60-month long placement.

This is Shit

I’m calling it what it is. This is what Maybank is telling you, right now.

We’re giving you less interest.

We’re not letting you withdraw/uplift your placements without foregoing your interests.

On top of that, you’re still not getting PIDM protection for GIA-i.

So I ask you Maybank, what is the point of the GIA-i now? All other FDs are better in comparison out there. For example, putting my money in a 1 month FD with Maybank themselves will net me 2.95% today. I’d very much sacrifice that 0.5% return for some PIDM protection.


So, where does that leave us?

I’ll likely be placing my cash in Fixed Deposits. I’m planning to consolidate my holdings into a single bank and go for premier/priority banking in order to get better rates. Looking at Public Bank right now. Will keep you guys updated.

Another good alternative is Fundsupermart’s Cash Management Fund. Although I don’t like the 2-day waiting period for funds to reach your pocket. And they offer about 3.2 – 3.3% interest.

Do you guys have any other alternatives to Maybank GIA-i to share? Let me know.


It really is an end to an era with Maybank’s decision to revise their very popular GIA-i. I believe it could be due to abuse by some customers who withdraw and make placements every day to the interests daily. Maybank may change their mind in time when they realize just how many of their customers are using their GIA-i. Then again, maybe not.

There will always be bumps and challenges along the way and this will certainly pose some interesting problems to my Freedom Fund. It’s time to rethink and re-strategize. I’ll be meeting with a Public Bank Manager next week to discuss their red carpet banking.

Any of you are red carpet clients with Public Bank or priority clients with other banks? Please do let me know about it as I’m new to this.

Thanks for reading.

AirAsia AGM 2017 – RM500 Flight Voucher

AirAsia’s 2017 AGM

First off, do forgive me for the lack of Facebook updates this time around as I was feeling a little under the weather throughout the day. That being said, I had a marvelous time attending AirAsia’s 2017 AGM this year with my newfound friends – Steve and Heng.

I arranged to meet up with them at Subang’s LRT station at 8 am. Steve had graciously volunteered to give us a ride to the Asian Aviation Centre Of Excellence where AirAsia’s AGM was to be held at 10 am. We arrived with an hour to spare and set about registering ourselves for the meeting first. Next up was the food!

The Food

There were significantly fewer shareholders attending the AGM this year so registration was swift and smooth for us.

We headed for the food next and this was what AirAsia served up. I think it’s similar to what you’d get on their flights. Compared to some of the other AGMs I attended, AirAsia’s nasi lemak was amazing!

Air Asia AGM 2017
AirAsia’s Nasi Lemak

The Annual General Meeting

AirAsia’s 2017 AGM was truly well run. The questions posed by shareholders were well-thought out and intelligent. The management revealed their capabilities and experience through their answers as well as video presentations.

AirAsia AGM 2017
Air Asia AGM 2017
People rushing forward after the AGM
AirAsia AGM 2017
Sir Francis!

AirAsia 2017 Doorgift / Goody Bag

AirAsia AGM 2017
RM500 Flight Voucher

The doorgift this year was similar to the previous year’s. All attending shareholders got a RM500 flight voucherHoliday, here I come!

The terms and conditions of the voucher will be delivered together with the vouchers. I’ll update accordingly. Another fantastic thing about AirAsia is their annual report, they’re actually making money through endorsements and sponsors with their reports! I’ve requested for mine to be delivered so again, I’ll update when I get it.

My very lucky friend Steve managed to get his cap signed by Tan Sri Tony Fernandes and Ms. Aireen Omar.

AirAsia AGM 2017
Autographed Cap

Findings from AirAsia’s 2017 AGM

Logistics for AirAsia

The management’s plan to venture into the logistics industry was one of the airline’s strategies I found to be the most exciting. With over 200 aircraft at AirAsia’s command and tons of belly space in those said aircraft, the plan seems to be a remarkably viable one.

“Companies like Amazon were planning to buy airlines and incorporate them into their logistics operations. AirAsia already has an airline.” Tony Fernandes on the management’s vision of AirAsia as a future logistics player. AirAsia is currently in talks with POS Malaysia and Singapore Post with possible partnerships and cooperations.

No Merger with AAX

At the AGM today, AirAsia Group CEO Tan Sri Tony Fernandes said the merger was never tabled to the board of directors, and the management remains in their belief that both short and long haul operations should be separated.

“AirAsia’s position is very clear, the board has never discussed this and there is no merger at all,” he said.

“The whole purpose of setting up AAX as a separate company, is because we believe it should be separated, and 10 years on we still believe that,” he added.

This came amid wild speculations from research analysts on potential mergers between the two airlines. The statement from Fernandes should put them to rest.

Special Dividends

Tony Fernandes also mentioned his plans for several special dividends for shareholders as AirAsia unlocks value from the assets it currently owns. Currently in the mix are the sale and disposal of Asia Aviation Capital (AAC), AirAsia’s leasing arm. Other potential assets mentioned were the 50% owned Academy – Asian Aviation Centre Of Excellence as well as stakes in companies such as Expedia.

Fernandes plans to pay out special dividends every 2 -3 years if and when AirAsia manages to dispose of their many assets and stakes.

Digitalization and Market Share

AirAsia is moving ahead of its competitors through technology. The airline plans to utilize their vast database of customers via their many planned digital platforms. From increasing ancillary sales on flights by understanding their customers better to grabbing and retaining market share through their BIG loyalty program.

There are many innovations and new things coming to AirAsia in the not too distant future. While I’m excited by some, I’m equally unsure about some of the initiatives mentioned. We shall see.


At 6 pm yesterday, AirAsia released their Q1 2017 results which saw net profit drop by 29.8% to RM615.81 million. A key contribution to the drop in net profit is the sharp increase in staff cost by 27% as the airline aims to prevent a shortage of pilots by offering more attractive remuneration packages.

Many of you would’ve been shocked at the dip in AirAsia’s price on 24 May 2017 mainly due to the bad results of AAX. I am hoping for a further drop in price today as I am looking to purchase more of the stock.

I very much still believe in the management team at AirAsia and I’m confident of a good year ahead for the airline.

What do you think of AirAsia? 

Thanks for reading and a special thanks to Steve for the ride to the AGM!