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KUALA LUMPUR, Dec 28 — The Malaysian Association of Borrowers and Consumers Solution (4PM) has reportedly claimed that Individuals are facing enormous pressures from the rising...
IN a rare open letter to editors on Friday (July 15), Bank Negara Malaysia governor Tan Sri Nor Shamsiah Mohd Yunus dispelled the alleged link between the central bank’s Overnight Policy Rate (OPR) hike and the rise in individual bankruptcies in the country, saying that the number of individual bankruptcies has been declining since 2016. “Letter to editors: Declining bankruptcy case trend; bankruptcy action is the last resort for financial institutions,” Nor Shamsiah said.
THE ongoing Covid-19 pandemic could precipitate or trigger an extensive bankruptcy crisis in the near future. Unsurprisingly, the root cause of a possible mass insolvency is to be attributed to low savings in general – including in the EPF accounts – among some Malaysians, especially those aged between 30 to 45 years old. This means that once the savings are exhausted, including in relation to the EPF accounts, the risk of bankruptcy arises or rises due to the inability to discharge pre-existing debt obligations and liabilities, let alone for self-sustenance
KUALA LUMPUR, Nov 24 — Many people in the country aged between 30 and 45 will go bankrupt next year when most of the government aid packages end, according to the Malaysian Association of Borrowers and Consumers Solution (4PM). Its president Rosland Mohd Arif said when loans, bank moratoriums and...