fbpx
Connect with us

News

NGO: Large Group of Malaysians Expected To Go Bankrupt Next Year

Published

My Post 2021 11 26T105447.489
Source: Utusan Malaysia & Pakarinvestasi

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

The Malaysian Association of Borrowers and Consumers Solution (4PM) recently revealed that a large group of Malaysians, aged 30 to 45, are expected to go bankrupt by next year, after all assistance and financial aid packages by the government end.

Based on a report by Utusan Malaysia, the President of the Association Tuan Haji Rosland Bin Mohd Arif, shared that after the end of all types of loans; moratoriums, i-Sinar packages and EPF withdrawals, many will turn to money lenders and loan sharks to overcome money shortages.

“We are receiving bankruptcy calls nationwide. If there are 30 calls a day, that is 900 a month and 10,800 a year,” he said.

Bankrupt 2

What’s more worrying is that this amount of phone calls was only received by him. The figure has yet to add up the calls his officers receive.

Earlier, the Chairman of the Employees Provident Fund (EPF) Tan Sri Ahmad Badri Mohd Zahir, warned that the majority of its members were now likely to be ‘old-poor’ due to withdrawal after withdrawal made to survive through the Covid-19 pandemic.

Indirectly, this causes the average member to have insufficient savings and it is feared that there will be no savings left after retirement.

Bankrupt 1

“48 per cent of EPF members under the age of 55 have very low savings,” he said.

Tuan Haji Rosland has since urged the government to intervene, to help those experiencing bankruptcy before they turn to and depend on money lenders or loan sharks when they are at their lowest.

His party also receives many reports of harassment and threats from money lenders, as they harass borrowers’ family members and set high interest rates of up to six per cent.

What do you think about this? Let us know in the comment section.

 

Also read: Govt May Implement Bumiputera Quota For Businesses In Malls & Tourist Hotspots

My Post 2021 11 19T160028.486

Source: Sinar Harian

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.



Just In

Feat Image Johor Feat Image Johor
News10 hours ago

PM Anwar: Johor Will Become The Most Economically Developed M’sian State Within 2 Years

Prime Minister Datuk Seri Anwar Ibrahim has lauded the robust growth anticipated from 2 high-impact projects in Johor, iterating that...

Splash Water Woman Detained Splash Water Woman Detained
News10 hours ago

Woman in Penang Who Splashed OKU Man With Hot Water Detained By Police

Over the weekend, many Malaysians were enraged with a video that had gone viral. In the 20-ish second clip, a...

Feat Image Mpl Feat Image Mpl
News10 hours ago

M’sian Esports Player Muhyyiddin Banned from Mobile Legends Pro League for Match-Fixing Attempt

Mobile Legends Professional League Malaysia (MPL Malaysia), the local esports professional league for the mobile game Mobile Legends Bang Bang...

Feat Image Thai Tower Feat Image Thai Tower
News11 hours ago

Thailand in Talks With Group Behind Burj Khalifa to Build The World’s Tallest Building in Bangkok

Thailand may soon be home to the world’s tallest building, as the country has recently revealed plans to build a...

Pdrm Klia Security Pdrm Klia Security
News13 hours ago

Police Boosts Airport Security After Shooting Incident by Stationing More Personnel

During the last weekend, the nation was shocked by the news that a man had attempted to shoot his wife...

Collage 27 Collage 27
News15 hours ago

“No U-turn once implemented” – Rafizi Says Govt Will Go Ahead With Petrol Subsidy Cuts This Year

This will answer your question about the duration of fuel subsidy. The Minister of Economy, Rafizi Ramli recently confirmed that...

Collage 5 5 Collage 5 5
News1 day ago

Study: Malaysia is the 19th Most Peaceful Country in the World, Out of 163 Countries

Malaysia is known for its warm and welcoming people who value harmony and mutual respect. Despite its rough edges, the...

Feat Image Kl Remote Work Feat Image Kl Remote Work
News1 day ago

Study: Kuala Lumpur is 4th Best Destination in Asia for Remote Work, 22nd in the World

Kuala Lumpur has just been named the 4th best destination in Asia for remote work by the latest iteration of...

Announcement

Latest Videos



TRENDING TODAY