Consumers Association of Penang

Giving voice to the little people...since 1970

Motor insurance - let the Govt take over

Many comments have been made about CAP's proposal for a no-fault liability scheme in relation to motor vehicle accidents (MVAs), and regarding the proposed scheme by Bank Negara Malaysia (BNM). CAP wishes to set the record straight regarding its stand on the proposed BNM scheme as well as respond to the comments made.

Very little is known about the proposed scheme by BNM, but from various reports in the media, it appears that :
 

Scratch-and-win scams: blame everybody else!

Scratch and win and other scams have been going on in the country for many years now. The most distressful development of this mode of openly cheating consumers is the standard response from the authorities: The victims are to be blamed for being gullible.

While this is true to a fair extent, what bothers consumers is, why is such an illegal activity continuing to flourish in all parts of the country, in the small towns even?

Unacceptable increase in the cost of using cheques

Bank Negara’s proposal to increase the cost of using cheques from 15 sen to 65 sen beginning April 2014, is unwarranted and should be withdrawn.

Before the debt trap gets deeper...

You do not find yourself up to your neck in debts overnight. These things take time. There are signs to watch out for.  If you are experiencing any of the following symptoms below, you’ re over-extending yourself financially. It is time to do something about it.
 

Right move to use the ringgit in international business

CAP applauds Bank Negara’s decision to relax the foreign exchange administration rules, to enable the ringgit to be used as a currency in international trade.

The decision makes good economic sense.  Had the decision been made earlier it could have saved local business millions of ringgit.