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Category: Financial Literacy EN

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Category: Financial Literacy EN

Time to Reform the Pension Scheme for Elected Representatives in Malaysia

Lai Cheng June 24, 2024 0 Comments
The Consumers’ Association of Penang (CAP) urges the government to exercise its role as stewards of public trust and fiscal responsibility by continually evaluating and adapting existing pension policies to serve the best interests of all Malaysians. We call for a comprehensive review and scaling down of the pension schemes for Ministers and elected representatives, including Members of...
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Temporary Egg Subsidies Welcome, But Broader Food Security Issues Must Be Addressed

Lai Cheng June 20, 2024 0 Comments
The government's initiative to subsidize egg prices should be viewed as a temporary measure, given that long-term subsidies are not sustainable. The Consumers’ Association of Penang (CAP) supports efforts to lower food prices but urges the government to address Malaysia’s deeper, long-standing food security challenges. Malaysians consume over 940 million eggs per month, making eggs a vital...
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CAP: PRICE TAGGING LAWS MUST BE ENFORCED

Lai Cheng June 18, 2024 0 Comments
The Consumers' Association of Penang (CAP) urges the Ministry of Domestic Trade and Cost of Living to enforce the Price Control Act 1946 Amendment 1973, Section 8(1), which mandates traders to display price tags on goods intended for sale. CAP conducted a survey across Penang Island, revealing widespread non-compliance with this requirement among various types of vendors including food stalls,...
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No U-Turn for Fuel Subsidy Rationalisation Policy

Lai Cheng June 12, 2024 0 Comments
The fuel subsidy rationalisation policy must be implemented and there must be no U-turn because of pressure from vested interests and political groups. Government leaders must bite the bullet when implementing policies perceived to be unpopular but which, in the long-term, will make our economy more resilient to benefit the people and the nation. Beginning with targeted subsidies for diesel fuel...
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A regulatory oversight needed for charitable organisations

Lai Cheng April 25, 2024 0 Comments
Consumers Association of Penang (CAP) urges the government to seriously consider the call by the then-Deputy Prime Minister Datuk Seri Wan Azizah Wan Ismail in 2020 for the establishment of a Malaysian charities commission. As of now, there is no single comprehensive statute in Malaysia to regulate NGOs, except for charities and charitable trusts and institutions outlined in the Ninth Schedule...
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Fads are a debt trap for the youth

Lai Cheng March 26, 2024 0 Comments
Consumers Association of Penang (CAP) calls on Malaysians to face the reality of the global economic downturn in the midst of geopolitical uncertainties. Overspending has driven our youth to the brink of bankruptcy through an unsustainable lifestyle of spending as much as they have and using credit cards when the money runs out. The statistics of youths in debt are shocking. Last year’s UCSI...
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CONSUMERS FLEECED BY INACCURATE WEIGHING SCALES

Lai Cheng March 19, 2024 0 Comments
Consumers’ Association of Penang (CAP) urges the Ministry of Domestic Trade, Cost of Living to conduct checks and take action against wet market traders using inaccurate mechanical weighing scales (with dial indicators on both sides of the machine) to short-weigh consumers. Our recent survey of all the wet markets in Penang showed that some of the weighing scales have their calibration...
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UNCLAIMED MONEY – FIND OUT IF YOU HAVE ANY

Lai Cheng March 18, 2024 0 Comments
Do you have any unclaimed money lying around? Homemaker Jessica Lai thought it was a scam when told she could find unclaimed money on the government portal eGUMIS. She tried and found that she could claim RM1,000. “I had never heard of it, and I thought it was a scam,” said the 53-year-old. The eGUMIS portal, launched in 2020, received about 17.2 million visitors as of last March and has...
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