EXPERIENCE IS THE TEACHER OF ALL THINGS
-Julius Ceaser

Tuesday, February 26, 2008

What Is Rounding Mechanism?

The government will introduce a mechanism called rounding mechanism to the nearest multiple of 5 sen for over- the- counter payments. This mechanism will apply only to the total amount of a bill and not on individual items. In the mechanism is a bill ends in 1,2,6 and 7 sen it will be rounded down while if the total bill ends in 3,4,8 and 9 sen it will be rounded up. Rounding will be to the nearest multiple of 5 sen.

This is more like it. I see it as a fair deal to both businesses and customers. Businesses can save handling cost and customers easier payments.

Ministry of Domestic Trade and Consumers Affairs has been circulating the information about this rounding mechanism and for further information contact 1-800-88-6800 or 1-300-88-5465


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