I wrote in to PPA enquiring about the youth incentive and this is their reply:

For the youth incentive pay-out, kindly note that there are two reporting periods in each calendar year during the PRS Youth Incentive program between 2014 to 2018. The first reporting period is conducted for transactions from 1 January to 30 June and the second reporting period is conducted for transactions from 1 July to 31 December. The incentive pay-out for the first reporting period had already been distributed to qualified Members’ PRS accounts in early October 2014. In regards to the incentive pay-out of RM500 for the second reporting period, it will be credited into qualified Members’ PRS account after March 2015.

So should be somewhere this month...