Tuesday, November 13, 2007

No more 1cent coin

Starting April 1 2008, there will be no one-cent coin anymore due to a "rounding mechanism" that would be used for all over-the-counter transactions. The mechanism means all payment totals will either be rounded up or down to the nearest five sen. For example, if the total amount to be paid is RM88.81 or RM88.82, it would be rounded down to RM88.80 and if the total is RM88.03 or RM88.04, it would be rounded up to RM88.05.

Sometimes we dun know where shall we keep the 1 cent coins as we do not use it that frequent. If we throw it, it will be a waste. If we keep them for water or electrical bills, it need a month long and normally we do not fully utilised all the coins. If we wish to buy 5 sweets for 20cents and pay using the 1 cents coins, then you are looking for trouble.

So far to my concern, no disadvantages of such implementation.

1. Wow~ Didn't know that i have so many 1 cent

2. After putting the coins into shape..bye bye 1 cent~

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