Consumers Association of Penang

Giving voice to the little people...since 1970

Solicitors wrongly billing chargors for change of bank names in charge documents

The Consumers Association of Penang calls on the Malaysian Bar Council to immediately direct its members to refrain from billing charges for preparing Change of Name forms and Vesting Orders for changing bank names in charge documents when discharging properties from banks that have changed names due to mergers. The cost of changing the banks’ names in the charge documents are to be borne by the banks concerned and not by the Chargors.

Buyers of auctioned properties cry foul

auction-aGreater transparency at auctions is needed to protect buyers of properties where no titles have been issued. This is because the auctioning of properties without titles (for example flats and apartments) is not regulated by any statutory provisions. Buyers are bound by the contract called the Proclamation of Sale. (PoS).

Restrictive trade practices in a free market

WE practice a free market system, but how free and competitive is it?

So what if the industries are dominated by a few players? What is wrong with that?

When there is less competition, the players in the market will be able to dominate it and fix high prices for their goods and services. It works to the company's advantage that there is no or very little competition. Where there is competition the companies may act to get rid of rivals. They may work among themselves to fix prices or divide the market among themselves to keep out competitors.
 

Compensation based on market value not insured value

General insurance companies should insure motor vehicles based on the agreed value. Many policyholders are already under the wrong impression that they own an agreed value motor policy.

They are unaware that in Malaysia, motor insurance policies are indemnity policies. This means that if the car is written off as a total loss, the amount compensated by the insurance company will only be its market value, which is often much lower than the insured value.

Unfair trade practices should be made illegal

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Often sellers of goods or services use unfair methods to get consumers to buy their goods or sign up for their services.

Consumers have at one time or another been put under pressure by the sales person to buy a product or sign a contract of service. Consumers too have been misled about the price or quality of the product or services purchased.