BNM Rounding cent
March 18th, 2008 by eddyra on newsThe Malaysian Government wishes to announce the introduction of a Rounding Mechanism to the nearest multiple of 5 sen for over-the-counter payments to be fully implemented by 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 table below illustrates how the Rounding Mechanism works:
| Bill ends in sen | Round off to the nearest 5 sen | Total Amount of A Bill | |
| Total amount before rounding (RM) | Total amount after rounding (RM) | ||
| 1,2 | Down | 82.01 82.02 |
82.00 |
| 3,4 | Up | 82.03 82.04 |
82.05 |
| 6,7 | Down | 82.06 82.07 |
82.05 |
| 8,9 | Up | 82.08 82.09 |
82.10 |
General guidelines of rounding
1. The total amount of a bill (including goods and services subject to tax) that ends in 1, 2, 6 and 7 sen to be rounded downwards and 3, 4, 8 and 9 sen to be rounded upwards to the nearest multiple of 5 sen.
2. Applicable to all payments, be it cash or non-cash.
3. The Rounding Mechanism table must be clearly displayed at the point of sale to ensure customers are appropriately informed.
4. Receipts / bills / invoices should feature the total amount before and after the rounding adjustment.
5. The 1 sen coin shall continue to be legal tender.
Information/enquiries
More information can be obtained at Kementerian Perdagangan Dalam Negeri dan Hal Ehwal Pengguna’s (KPDNHEP) website www.kpdnhep.gov.my or Bank Negara Malaysia’s website (www.bnm.gov.my) and via their respective hotlines at 1-800-886-800 and 1-300-88-5465.
Enquiries can also be emailed to 1sen@bnm.gov.my.
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