Consumers are faced with very unfair contract terms in the Condition of Sale when they take part in auctions.
These terms are one-sided and put the bidder/purchaser in an extremely disadvantaged position at auctions.
The Consumers Association of Penang is strongly against the Urban Wellbeing, Housing and Local Government Ministry’s decision to allow developers to give out loans under the Money Lenders Act 1951 (Amendment ) 2011 . According to the Minister Tan Sri Noh Omar this is a win-win situation.
With all due respect, there is only one obvious winner from this scheme and that is the developer. After all Noh were also quoted as saying that “Our intention is to help developers sell the houses they have built”. Is the Government shifting the burden of unsold units to consumers?
The Consumers’ Association of Penang would like to address the public on the issue of the telemarketing of insurance policies.
Based on the complaints we have received, we find that many consumers get caught in the trap of unknowingly purchasing insurance policies that are being promoted through telemarketing.
CAP congratulates the Attorney-General Tan Sri Abdul Gani Patail for proposing that the no-fault liability scheme be implemented.
Such a scheme is long overdue. We had as far back as the late 1970s and in the early 1990s, called for the introduction of some kind of no-fault motor insurance to benefit consumers. The idea behind no-fault insurance is to get accident victims compensated as quickly as possible.
According to the Bank Negara’s Annual Report 2010, Malaysia’s household debt at end of 2010 was RM 581 billion or 76% of GDP (Gross Domestic Product). The Bank claimed that the household debt is still manageable because of income growth, high levels of savings and favourable employment opportunities.
However, if we look at household debt from the point of disposable income then the picture painted is worrisome because it reveals that households are spending about half of their income to pay off their debts.