Consumers Association of Penang

Giving voice to the little people...since 1970

Getting a grip of the loan shark problems

ah-longWe are all aware of the havoc Ah Longs have wrecked in the lives of the families where one of its member was unfortunate enough to have borrowed money from the Ah Longs.

How many more suicides, how many borrowers have to be disowned by their families before government takes the Ah Long problem seriously? We cannot take the attitude that these people should have known better than to borrow from Ah Longs.
 
With their high interest rates, and unsavoury reputation, those who chose to borrow from the Ah Longs can only be said to be desperate.
 

Shutdown co-ops that are agents of moneylenders

bannerCooperatives that are nothing more than agents of moneylenders should be shut down by the Malaysia Cooperatives Societies Commission (MCSC). The MCSC cannot and should not condone such an activity, whether legal or otherwise.
We have received complaints about one such cooperative which has no qualms about using unethical methods to get its members to sign up for loans with a licensed moneylender.

Pressing need for a Tenancy Act

Malaysia urgently needs a Tenancy Act (TA) which will offer protection to both landlords and tenants. A Tribunal should also be set up under the TA to settle disputes between both parties.  

Tenants often complain about landlords that raise rents indiscriminately and impose unreasonable conditions.  On the other hand landlords complain about bad tenants that do not pay rents and the difficulty of getting rid of them.

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Need to review role of Malaysian Communications and Multimedia Commission

CAP today calls on the Ministry of Information Communications and Culture to take action against the Malaysian Communications and Multimedia Commission (MCMC) for failure in playing their role as a regulatory body for multimedia matters.

This call is made in view of the uprising number of complaints made by consumers against Content Providers in ripping off consumers through their various modus operandi. It is bad enough that multimedia users are subjected to spam, spoofing, fraud etc. to rip them off, but when licensed entities also rip consumers off by breaching the laws and regulations that they promise to abide with when applying for their licences, it is intolerable.

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Response to Inceif‘s Accusation of CAP

We refer to the Global University of Islamic Finance (Inceif) accusation that CAP’s claim that Islamic personal loans offered by banks are a rip-off is baseless. On 16th December 2013, CAP had made a press statement that a loan with an effective profit rate of 42% was a rip-off.