On 1st April..no April Fools joke, the Malaysian Government moved to phase out the 1 cent coin by getting all business to round up or down as appropriate, the totals to the nearest 5 cents. Works like this :
Totals that end in 0.01 or 0.02 will be considered as 0
eg RM 5.02 will be rounded down to RM 5.00
Total that end in 0.02, 0.03, 0.06 or 0.07 will be considered as 0.05
eg RM 5.03 will be rounded to RM 5.05
RM 5.07 will be rounded to RM 5.05
Totals that end in 0.08 or 0.09 will be considered as 0.10
eg RM 5.08 will be rounded up to RM 5.10
But hang on ...I found out that the Post Office is not implementing the rounding yet ...!!??
Why is it that after the government has spent so much money promoting and educating everyone on the rounding, one of the biggest institutions is still holding out on this ?? Go figure. So does that mean that if we pay our utility bills at the office we may save or lose money depending on our final total ??? Interesting thought. It is not much but guess it is a matter of principle. Wonder if any other countries have gone through this or is about to ? Love to hear from you.
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