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Category: Financial Literacy EN

CAP: Freeze any increase in cement prices

The Consumers’ Association of Penang (CAP) calls on the Ministry of Domestic Trade and Consumer Affairs (KPDNHEP) to put any immediate freeze and stop cement players from imposing a price increase on cement. Cement is listed as a “scheduled control goods” in KPDNHEP’s website  dated 2019.  However according to a 2008 news report the then Works Minister Datuk Mohd Zin Mohamed said that...
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Regulate the Import of Coconuts

With Thaipusam and Chinese New Year just around the corner, local coconut growers and sellers encountered a challenging situation to sell local coconuts that are priced between RM1.20 and RM1.50 each against those from Indonesia that are priced between RM0.80 and RM1.00. The reason is that coconuts imported from Indonesia cost only RM550 per tonne, or about RM0.55 each. Again, we can see that it...
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CAP: Subtle dangers lurk behind online transactions

Malaysia is one of the fastest-growing online markets in the ASEAN region. Malaysians use the internet extensively for news, research, social networking and online shopping. With 19 million people online we have the highest penetration of online shoppers supporting a RM25 billion business which is poised to double by the year 2020. However, are all online shoppers prepared to swim in an ocean...
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HOUSE OWNERS AND TENANTS NEED LEGISLATIVE PROTECTION IN RENTAL HOUSING

The Consumers’ Association of Penang (CAP) has over the past decades been advocating rental housing as the most logical move to embrace but apparently both the government and the developers have been promoting house ownership instead. Khazanah Research Institute managing director Datuk Charon Mokhzani stated that rental housing schemes such as the People’s Housing Programme is the way...
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NO FAULT LIABILITY: LET THE PEOPLE DECIDE

The Consumers’ Association of Penang (CAP) strongly believes that consumers will benefit from the NFL just as employees benefit from the Social Security Organisation (SOCSO) which operates on the principle of NFL. If SOCSO has been overwhelming successful for more than four decades why can’t NFL. CAP disagrees with former Bar Council chairman Kuthubul Zaman Bukhari’s statement that “any...
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BNM MADE A U-TURN ON NO FAULT LIABILITY SCHEME

Do consumers have to pay more for their motor insurance than what they are paying now when detariffication of motor insurance starts on 1 July?  At least this is what the Consumers’ Association of Penang (CAP) understands because the General Insurance Association of Malaysia (PIAM)’s reply to its FAQ question “What % increase can I expect (CAP’s emphasis) on my motor premium” is: “It...
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FESTIVE SEASON APPROACHING: PRICE OF SELECTED FOOD ITEMS INCREASE

A survey carried out by CAP past few days has shown an significant increase in the price of coriander leaves, daun bawang, asam jawa and garlic. CAP found that the price  has increased from between 10% to 200% over the last one week. With Ramaddhan and as Hari Raya Puasa is around the corner, the above mention items will be in even greater demand.   CAP calls on the Ministry of Domestic Trade,...
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TELEMARKETING OF INSURANCE PACKAGES

The Consumers’ Association of Penang would like to address the public on the issue of the telemarketing of insurance policies. Based on the complaints we have received, we find that many consumers get caught in the trap of unknowingly purchasing insurance policies that are being promoted through telemarketing. In light of these complaints, CAP took up the matter with Bank Negara Malaysia (BNM)...
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Developers Should Not Provide Housing Loans

The Consumers Association of Penang is strongly against the Urban Wellbeing, Housing and Local Government Ministry’s decision to allow developers to give out loans under the Money Lenders Act 1951 (Amendment ) 2011 . According to the Minister Tan Sri Noh Omar this is a win-win situation. With all due respect, there is only one obvious winner from this scheme and that is the developer. After all...
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Unfair Contract Terms in Auctions

Consumers are faced with very unfair contract terms in the Condition of Sale when they take part in auctions.These terms are one-sided and put the bidder/purchaser in an extremely disadvantaged position at auctions.   Under Section 24 of the Consumer Protection Act 1999, unfair contract terms are illegal and therefore unenforceable. These unfair terms found in the Condition of Sale at auctions...
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