Rounding Mechanism

This issue has been brought up since last year and finally our Malaysian Government will implement and announce the introduction of a Rounding Mechanism to the nearest multiple of 5 sen for over-the-counter payments starting tomorrow, 1 April 2008.

The Rounding Mechanism only applies to the total amount of a bill and not on individual items. In the Rounding Mechanism exercise, the total amount of a bill which ends in 1, 2, 6 and 7 sen will be rounded down while the total bill which ends in 3, 4, 8 and 9 sen will be rounded up to the nearest multiple of 5 sen.

The implementation of the Rounding Mechanism will bring benefits to both business owners and customers or consumers like us. Business owners will be able to save on handling costs and for customers or consumers, it will make payment faster and more convenient.

In the past, I would think that most of us would not carry 1 sen coins in our wallet or pocket. For me, I never put coins in my wallet and never carry coins in my pocket whenever I left my house for work or other places. The coins irrespective of any denomination which I got it during the day like lunch time, dinner time etc, I shall store it in my piggy bank when I back home.

I hope that all the business owners or Government authorities like shoppers, supermarkets, handphone operators, parking system, SESCO, Water Board, TM, Councils and others will follow this new implementation.