Connect with us


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


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

Marshal Ft Marshal Ft
News14 hours ago

2 M’sians Surrender After Posing As Traffic Police On High-Powered Motorcycles

Recently, video footage of two individuals riding high-powered motorcycles, posing as traffic police in Port Dickson went viral on social...

Ft Judge Ft Judge
News15 hours ago

“This is a court of law, not a coffee shop” – Judge Threatens Najib With Arrest For Not Coming To Court

The court cases involving former Prime Minister Datuk Seri Najib Razak continue to prod on. Today’s (7 December) proceedings in...

My Post 2021 12 07T152606.883 My Post 2021 12 07T152606.883
News15 hours ago

Thaipusam & Chingay Processions Not Allowed Next Year Due To Omicron Fears

All festive processions, including the Kavadi procession for Thaipusam and Chingay festivities for Chinese New Year, will not be allowed...

Jpj Pdrm Summons Discount Jpj Pdrm Summons Discount
News18 hours ago

JPJ & PDRM are Offering Discounts Up To 80% On Summons Only From 9-12 December

In a few days, it will be 100 days since the current government has taken over. In order to celebrate...

Body Ft 2 Body Ft 2
News20 hours ago

16yo Malaysian Passes Away At A ‘Haunted House’ In Bentong

Recently, 1 December, a 16-year-old Malaysian passed away from a heart attack after visiting a ‘haunted house’ attraction in Bentong....

Ft Volcano Ft Volcano
News20 hours ago

Indonesia’s Mount Semeru Volcano Erupts Once Again! Rescue Efforts Unable to Continue

On Saturday (4 December) Mount Semeru, a volcano located on Indonesia’s most densely populated island of Java suddenly erupted and...

My Post 2021 12 06T155720.623 My Post 2021 12 06T155720.623
News2 days ago

M’sian Women’s Hockey Team Arrives at Korea but Barred From Playing After Testing Positive

The Malaysian Women’s hockey team, The Malaysian Tigress, is barred from participating in 2 tournaments at the Women’s Asian Champions...

Collage 6 1 Collage 6 1
News2 days ago

Malaysian Politician Says Naming Places In English Over Bahasa Melayu Is DISGUSTING

The debate on the usage of our national language continues.  A few days back, MP Nazri Aziz claimed that KL...


Latest Videos