One Sen Round Up Starting 1st April, 2008
April 2, 2008 – 10:10 amAnd no, it’s not an April Fool’s joke. About two weeks ago, I wrote a post on my other blog regarding this new 1sen round up exercise. If you have been reading my blog, you probably know y stand about us, the consumer, losing money just because we were not returned the 1sen in our balance.
Well, this is not by my own calculation but was told by a retailer in Singapore who earned more than SGD10,000 annually just from this one cent.
It is fine if the retailers play fair BUT last evening, I was in Tesco and the guy in front of me had a bill that ended with MYRxx.01. The cashier asked him for the full amount. And he asked her if he has to pay the one sen and she said yes. He paid without much fuss.
When it was my turn, my bill came up to MYRxx.09. And because of this rounding up exercise, I was not given my one sen change. You see the double standard practiced here? This means that from two customers, Tesco has already gained MYR0.02. Of course, this is not a huge amount but when you add up all the one sen per customer per year, basing on the information from the retailer in Singapore, you can imagine the excess amount. That’s why hypermarkets love pricing their items at 99 sen.
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