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Day: August 27, 2014

Mortgagees Overinsuring for Fire Insurance of Mortgaged Properties

Banks are exploiting mortgagors by taking out fire insurance on the mortgaged properties to cover the full amount of the loan which in almost all cases will be about 90% of the market value of the properties. Market value is the combination of the cost of the land and of the building on it. Fire insurance does not cover land, but only the cost of re-building the building(s) on it. In a worst case...
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Seize the banned Rawa Sorong Nets

The Consumers Association of Penang (CAP) urges the Department of Fisheries and the Malaysian Maritime Enforcement Agency (MMEA) to seize rawa sorong nets in Kedah and Perlis in the interest of more than 2,000 fishermen in the two states whose livelihood have been affected by the use of this destructive fishing gear.  Such stringent actions can be done not only at sea when a boat operates the...
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