Category: Financial Literacy EN

The Consumers Association of Penang (CAP) is very concerned about the recent rapid increase in the price of tomatoes in Penang markets. A CAP market survey carried out today shows that the price of local product tomato has increased from RM8.00 to RM12.00. A month ago it was only sold for RM5.50 per kilogram. Tomato is an essential ingredient and is used by almost every consumer. Several...

In a study by the Proceedings of the National Academy of Sciences of the USA, 2 groups of people were given $40 each. One group was told to spend it in buying a possession (an object, something they wanted). The other group was told to spend it in ways that would enable them to have more free time (eg: having food delivered to save them from cooking, or hiring a cleaner instead of cleaning their...

Consumers’ Association of Penang (CAP) urges the Domestic Trade and Cost of Living Ministry (KPDNKSH) to look into laws related to the sale and purchase of used and new vehicles. Although KPDNKSH had announced that they are looking into the laws related to the sale and purchase of used vehicles, CAP had called on the Ministry to extend the Lemon Law to new cars as well. New cars can be...

Experts call for urgent campaigns to counter fraudster syndicates in a more holistic and integrated manner. ONLINE financial fraud has become more prevalent across the globe as businesses adopt digital modes of payments and transactions. Malaysia is not spared from this growing threat. Fraudsters are continuously evolving their approaches to exploit the vulnerabilities of the current prevention...

TSB issues warning to consumers over online purchase scams  Spike in cases of criminals scamming people into paying for non-existent goods Nearly four in five cases originate on Facebook Marketplace  A major bank has issued an urgent warning over online purchase scams ahead of the busy festive season. TSB said it had seen a 35 per cent spike in online purchase fraud, which now accounts for...

Budget 2024 is generally comprehensive as it included the shift to low carbon economy and forms of sustainable energy. The Budget also touched on wildlife conflict, environmental conservation and preservation besides the extension of stage bus services to low-passenger routes in rural areas. Plans are afoot to provide clean water supply particularly in Kelantan, Sabah, and Labuan. This is the...

The Consumers’ Association of Penang (CAP) calls on the Ministry of Domestic Trade and Cost of Living to enforce the Price Control Act 1946 Amendment 1973, Section 8 (1) which requires traders to display price tags on goods that are meant for sale. Our routine survey around Penang Island showed that many traders are blatantly flouting the Price Control Act. The surveys covered food stalls, wet...

Malaysia is Moving in the Right Direction The Consumers Association of Penang (CAP) welcomes Prime Minister Anwar Ibrahim’s announcement on 15 May 2023 that households that guzzle electricity will no longer be enjoying subsidies. According to a media report in August 2022, the government was expected to spend RM6.51 billion in electricity tariff subsidies for that year. Under...