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You don’t have to pay your H-P loan for next 6 months

These are tough times for everyone and conserving cash and savings is important because we don’t know how long this situation will continue. In a normal recession, there comes a time when it ends and the economy slowly picks up again but this time, this is not something to do with the economy. It’s a pandemic which has to be fought like a war and hopefully, mankind will win and defeat the enemy.

For those who have hire-purchase loans from banks for their vehicles, you would normally have to continue paying the monthly instalments. So a portion of the money you are trying to save for essentials still has to be set aside to meet this commitment, otherwise your vehicle gets repossessed.

Understanding the burden on many people, Bank Negara Malaysia (BNM) has directed all banks to automatically allow a 6-month moratorium on loans (ringgit-denominated) being serviced by individuals and SMEs (Small & Medium Enterprises) from April 1, 2020. This means that instalments for the months of April, May, June, July, August and September 2020 need not be paid as scheduled.

It does not mean that you get the 6 months deducted as you will have to resume paying from October onwards and your repayment period will end 6 months later than the original ending month.

You will not be charged any penalty for late payment during the 6 months but according to a BNM FAQ, the interest for the month will still be charged. So at the end of the loan term, you will have an extra amount to settle which was not present at the start when you took your loan.

If you have set monthly deductions from your bank account to pay instalments automatically, deductions will not be made during the period (but check with your bank to confirm).

“Banking institutions should provide individuals and SME borrowers with adequate information on how the suspended loan/financing repayments/payments will be treated during the moratorium period,” BMM said.

From what we understand, no application is needed as the deferment will be automatic and is applicable to loans or financing that are not in arrears exceeding 90 days as at April 1, 2020. Credit card balances are not covered under this moratorium although it may be possible to discuss with your bank about rescheduling payments or converting to loans.

So you have some extra money in the coming months. Do spend it wisely on essentials and don’t go on a ‘shopping trip’ online! If you do not wish to defer your instalments, you should notify your bank.

First new Aston Martin engine in over 50 years starts test runs (w/VIDEO)

Aston Martin has revealed further details of its in-house designed V6 engine, created initially for deployment in a new range of mid-engined sportscars, starting with the Valhalla from 2022. Codenamed TM01 – celebrating Aston Martin’s illustrious engineer of the 1950s and 1960s, Tadek Marek – the engine has already undergone a series of extensive testing sessions on the dyno, as the team make progress towards creating the luxury British brand’s first in-house designed engine since 1968.

Confirmed today as a 3.0-litre turbocharged V6, the full powertrain will be electrified – an aspect that has been key to the engine’s development from day one. In parallel to the tests shown today, Aston Martin is developing a new range of hybrid systems that will ensure that the complete unit will become the most powerful in the Aston Martin range when on sale. The final power and torque figures for each application of this powertrain will be determined by the desired characteristics of each product it serves and confirmed at the time of launch.

Following the Valkyrie – the brand’s first mid-engined hypercar – many key learnings have been directly applied to this project. As a result, the decision to develop the engine with a ‘hot V’ structure was clear from the start, with the configuration allowing for this compact engine to weigh less than 200 kgs.

Higher engine speeds, in combination with the benefits of electrification, will offer the performance characteristics of a mid-engined sportscar on an extreme level. Naturally, the engine will be positioned directly behind the driver’s cabin and equipped with a dry sump system to guarantee the lowest possible centre of gravity. The system will also deliver exceptional lubrication performance during on-limit, high-speed cornering. Despite the overt nature of this powertrain, the engine is designed to meet all future emission requirements for Euro7.

“This project has been a great challenge from the start. Putting a team together to deliver what is going to be the future power of Aston Martin has been an honour. From the very beginning, we have had the freedom to explore and innovate in a way that we have not been able to do so in a very long time. Most importantly, we wanted to create something that is befitting of the TM01 nameplate and create something that would have impressed our predecessor and pioneering engineer, Tadek Marek,” said Joerg Ross, Powertrain Chief Engineer.

Max Verstappen and Alex Albon test-drive the Aston Martin Valkyrie hypercar

Summary of new vehicle sales and production in February 2020

KEY POINTS:

♦ Although the Total Industry Volume (TIV) for the month – 40,403 units – was higher (by 1.5%) than the same month in 2019, it was 5.3% or 2,249 units lower than the figure reported for the month of January 2020.

♦ The total sales of new passenger vehicles was 36,702 units (about the same as last year) while commercial vehicles, including pick-up trucks, was 3,701 units (20% higher than February 2019).

♦ The decline in sales was attributed to delays in launches of new models and consumer concerns about the COVID-19 pandemic which showed signs of worsening.

♦ The Malaysian Automotive Association, which has been compiling data since the 1960, expects that March sales will be lower as the Movement Control Order came into effect around the middle of the month.

♦ Production of new vehicles dipped 11.1% after the upswing in January. As demand could be seen to be slowing down, many companies would have cut output to avoid building up too many stocks.

♦ The total output of 40,371 units during February 2020 was 17% lower than that of the same month in 2019.

RFID implementation on PLUS Closed System highways postponed

The completion date of the introduction of RFID (Radio-Frequency IDentification) system for paying charges electronically at all remaining PLUS toll plazas has been postponed. Following implementation on its Open System highways in January, the concessionaire had been carrying out testing and progressive work with the aim of having the remaining 83 PLUS and 10 LPT2 (East Coast) Closed System toll plazas equipped with RFID facilities by April 1, 2020.

Open System toll plazas are for highways where a fixed rate is paid whereas the Closed System charges by the distance travelled, eg along the North-South Expressway.

Due to the Movement Control Order (MCO) being in force since March 18 and to run until March 31, 2020, the work has been suspended. “At PLUS, we believe the MCO is an important move to protect the health, safety and well-being of not just our employees but all Malaysians from the threat of COVID-19. Based on this principle, we have decided to defer the launch of the RFID payment system on PLUS and LPT2 highways to a new date upon the lifting of the MCO,” said PLUS Managing Director, Datuk Azman Ismail.

PLUS also takes this opportunity to urge the public to adhere to the MCO and to remain at home in order to help flatten the spread of COVID-19 and more crucially, to protect one’s health and family’s wellbeing.

Motorists using PLUS highways should also be aware that the reload facilities at all its Toll Plaza Customer Service Centres and Reload lanes at both Open and Close Toll Highway are closed during the MCO period. Reloads of the Touch’nGo cards can be done at Self-Service Kiosks available at 67 locations at selected R&R areas as well as various ATMs, petrol stations and convenience stores.

“We strongly advise all motorists to plan their journeys by reloading their Touch‘nGo card at reloading centres nationwide, as well as other reload facilities available,” PLUS said, adding that motorists are also advised to keep a 1-metre distance apart when queuing, not just at the reload machines but also in any public place.

Meanwhile the highway concessionaire has also clarified that none of its toll plazas and highways are closed. However, with the MCO in effect, the police may be filtering vehicles to ensure their occupants are authorised to travel. PLUS advises the public to contact the PDRM Hotline at 03-2266 3356 for latest updates on road diversions and inspection throughout this period.

Shops at many PLUS R&R/lay-bys to remain closed till March 31

Nissan expedition visits UNESCO World Heritage sites in Brazil

In September 2017, Nissan organised a project to enable researchers to visit Brazil’s historic archaeology sites. Known as the “Nissan Expedition: In search of Brazil’s beginnings”, its objective was to contribute to culture and scientific research by exploring the wealth of Brazil’s historic rock paintings.

The expedition was done in 5 stages and the researchers got close looks at items found in exploring the country’s rock art sites. They also came across remains of campfires of people who lived in the Piauí sierra region 50,000 years ago.

*The first Nissan Expedition which ‘went back in time’.*

Discovering Brazil’s heritage
The second edition of this activity took place this year, with explorers following Brazil’s Heritage Trail. It is thus known as the ‘Nissan Expedition – Following Brazil’s Heritage Trail’ and recently concluded at Chapada dos Veadeiros, the highest plain in Central Brazil, in the state of Goias.

For 3 days, the participants in a fleet of 16 Nissan Frontiers faced trails in the region known as Cerrado, a vast tropical savannah ecoregion in Brazil. Along the way, they explored a stunning landscape listed as a UNESCO World Heritage Site while driving more than 1,000 kms in the state of Goiás and the Federal District.

The expedition started in the city of Brasília, which is considered the world’s largest world heritage site (112.25 square kilometres) and is widely known for its modernist architecture and uniquely artistic urban planning. The adventurers also visited key historic and cultural sites, such as 308 Sul, the first superquadra (superblock) built following the Plano Piloto (the originally planned city) as well as the President JK Bridge and the Ministries Esplanade.

Visiting Brasilia, the planned capital city
The expeditioners also visited the Live Museum of Candanga Memory, which tells the story of the construction of Brasilia (named after the nickname given to the workmen who built the city) and Catetinho Museum, the first official workplace of the President of Brazil Juscelino Kubitschek, whose name is a reference to Catete, Brazil’s presidential palace before Brasília was built.

On the second day, the group learnt about the initiatives to protect the Chapada dos Veadeiros National Park and the region’s importance to the environment. They then toured the park with its outstanding scenic beauty and went around the region known as Almecegas.

At this location is an aerial attraction: the Flight of the Hawk – an 850-metre long, 100-metre high zip line that stretches across the Almecegas Range and the Sao Bento Plantation Belvedere. By the end of the day, they were at Almecegas, one of the park’s tallest waterfalls and known for its high quartzite walls.

Nissan Frontier put to the test
On the third day of the expedition, the group had an off-roading experience through the Cerrado region. Here, the toughness of the Frontier pick-up was put to the test. Needless to say, it passed with flying colours, demonstrating its robustness and capabilities.

After the off-roading experience at the Bellatrix reserve, the group headed for the Label waterfall, before facing more rough terrain and crossing some streams. Although swollen with the summer rains, the unbridged waters were crossed by the Frontiers that can cope with deep waters. The final stop was reached after climbing 1,200 metres to reach the Sao Joao d’Aliança range and see the expanse of the Cerrado region in Goias.

Visit www.nissan.com.my to know more about Nissan pick-up trucks in Malaysia

2020 Nissan Patrol gets advanced Nissan Intelligent Mobility technologies

Updated list of toll plazas with restrictions

The Movement Control Order (March 18 – 31, 2020) does not stop you from going out – but only to buy essential food and supplies or medication. You should go to the nearest place to get the items and not drive from Penang island to the mainland to buy vegetables (as was reported by the police to The Star). And certainly, you cannot go out to eat at restaurants which, if allowed to operate, can only provide takeaway or food delivery services.

Yet there are still people who are ignoring the orders to stay at home and seem to go longer distances than necessary. It’s understandable that being confined to the home is tough but this is a very serious situation and you need to do your part.

Think of how fortunate you are to be able to be at home when there are thousands of frontliners – the nurses, doctors, hospital cleaners and other healthcare personnel – who are risking their lives daily, fighting exhaustion and having to be away from their families and friends.

Because there are people who are stubborn and insist on doing what amounts to breaking the law, the police now have to increase restrictions on vehicle movements. Besides a restriction on interstate travel (as well as driving across the borders with Thailand, Singapore, Brunei and Indonesia), passage through many toll plazas will no longer be permitted unless the vehicle driver can give a valid reason or show a document authorising movement. If not, the police will order the vehicle to be turned around and the occupants should return home.

The following are the PLUS toll plazas which have such restrictions at their entry lanes:

1) Jalan Duta

2) Sungei Besi

3) Skudai

4) Kuala Kangsar (Only vehicles headed north will be allowed to enter the highway. Vehicles headed south will be subject to restrictions).

5) Ayer Keroh

6) Tol Pedas Linggi

If you do not have a valid reason and are ordered to turn around, do not argue with the police. They are just doing their duty to protect us. Let’s not make things worse and force the government to extend the MCO.