Category: Financial Literacy EN

The Consumers Association of Penang (CAP) urges Bank Negara Malaysia (BNM) to prohibit financial institutions from promoting any form of insurance, particularly investment-linked insurance, within their premises. We have received complaints that bank officers approached customers inside bank premises to promote investment-linked insurance as a ‘better investment option offering higher returns...

Private healthcare practitioners must communicate fee structures upfront, says Consumers’ Association of Penang president Mohideen Abdul Kader. He stressed the importance of transparency. “Transparent pricing allows patients to make informed decisions,” he said. This comes after the Health Ministry said it does not regulate facilities fees imposed by private healthcare facilities. In a...

 The Consumers’ Association of Penang (CAP) welcomes the initiative by the Penang Island City Council (MBPP) which has imposed a 50% increase on car parking charges and plans to impose a parking time limit on certain roads in view of congestion in those localities. These measures are a step in the right direction to address the growing traffic congestion and will promote better management of...

The Consumers’ Association of Penang (CAP) urges the government to take a comprehensive approach to address Malaysia’s rising household debt, which surged from RM1.53 trillion in 2023 to RM1.57 trillion by mid-2024. This alarming figure now stands at 83.8% of the country’s GDP, making Malaysia one of the most indebted nations in the ASEAN region. According to the Ministry of Finance,...

The Consumers’ Association of Penang (CAP) urges the Federal Agricultural Marketing Authority (FAMA) to overcome the coconut shortage issue. A recent market survey in Penang revealed that coconut milk and coconut traders were concerned about the reduced supply of coconuts, which has resulted in a sharp rise in prices. Imported coconuts have seen a gradual price increase, now reaching RM4.00...

The weight of fresh produce packaged for sale in grocery stores must state its net weight on the label, says the Domestic Trade and Cost of Living Ministry’s Enforcement Division following recent checks on grocers. Its enforcement director-general Datuk Azman Adam said the tare weight, or the weight of packaging such as plastic trays, cling wraps and absorbent pads, should not be included in...

Malaysia’s blanket fuel subsidy system, though designed to provide universal benefits, has inefficiencies and unintended consequences. This system, exemplified by subsidies for RON95 petrol and diesel, extends benefits indiscriminately, including to foreign entities and higher-income households, while facilitating activities like smuggling. These issues underscore the urgent need for a...

Lately there has been renewed debate about the RM1 fee for interbank ATM withdrawals in Malaysia. While some argue that this a necessary charge for maintaining infrastructure, others view it as an outdated and burdensome fee in today’s digital economy. Hence, it is timely to revisit this policy by questioning whether imposing the fee aligns with the needs of the rakyat and the principles of...

It’s a fairly common practice – you go to the supermarket and buy some chicken breast slices or salmon fillets, which are neatly packed on a plastic tray with cling wrap and an absorbent pad. The label would state the weight and price. Most buyers would not spare this much thought, but the weight of the fresh produce would likely include the packaging weight, which then impacts the final...