Category: Financial Literacy EN

Wouldn’t it be wonderful if you were rich and you could buy anything that your heart desires without getting into debt? But then again the rich also get into debt. So what it all boils down to is perhaps not so much how much you have as how you manage to do with what you have. But nowadays, this concept of “Buy now, pay later” enables you to buy with money that you don’t have, yet....

Your neighbour wants you to sign up with her “direct selling” company telling you that there is easy money to be made. However, you are sceptical that it might be an illegal pyramid scheme. How can you tell the difference? Pyramid schemes are illegal scams in which large numbers of people at the bottom of the pyramid pay money to a few people at the top. Each new participant pays for the...

Many comments have been made about Consumers Association of Penang 's (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...

CAP questions the Governments rationale behind its propensity for overhead pedestrian bridges. They are an encumbrance to most pedestrians and not a convenience as is the preferred belief. They are also a deplorable waste of public funds. On Penang island alone there are at least 12 of these overhead bridges. They cost anything between RM750,000.00 (in 2005) to RM1 million or more to build today....

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...

Normal 0 false false false MicrosoftInternetExplorer4 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...

The Consumers Association of Penang (CAP) welcomes the announcement by Bank Negara Malaysia (BNM) that it will be consulting all relevant stakeholders next month before presenting the proposed new third party bodily injury and death scheme to the government. In August 2007, the Attorney General’s Chambers issued a Preliminary Issue paper proposing that a No-Fault Liability Scheme (NFL) be...

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...

No More Automatic 20-day Interest-Free Period for Credit Cardholders Credit card debts will increase when the 20-day interest-free period (the grace period where purchase will not be charged interest) will no longer be automatically enjoyed by all cardholders. Interest Free No More Cardholders have been informed that from  1 July 2008 (for one bank it is 1 May 2008), only those  who make full...