The implementation of the rounding mechanism to the nearest multiple of 5 sen for all payments will be fully implemented effective from April 1, 2008.
The introduction of this mechanism is to reduce the demand for one sen coins. However, the one sen coin remains as legal tender for payment of goods and services.
The implementation of the rounding mechanism would benefit both consumers and businesses. For members of the public, the rounding mechanism will make payments faster and more convenient. For businesses, it will reduce handling costs.
The rounding mechanism only applies to the total amount of a bill and not on individual items. Under this exercise, the total amount of a bill inclusive of tax, which ends in 1, 2, 6 and 7 sen will be rounded downwards to the nearest multiple of 5 sen while the total bill which ends in 3, 4, 8 and 9 sen will be rounded upwards.
Detail content by Bank Negara Malaysia : Rounding Mechanism
and Frequently Asked Questions (FAQs) on Rounding Mechanism
Video by Star: Introducing the Rounding Mechanism
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