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November 11, 2021 7:21 PM
GEORGE TOWN: Insurance premiums for vehicles are likely to stay at the same level in the coming year despite a lower number of accidents and thefts during the pandemic and lockdown periods.

Lee Yen Ming, who runs a Bank Negara-approved insurance comparison site, said this was because the number of claims had remained high before the pandemic.

He said before the pandemic, the claim ratios “had exceeded 100%” before the lockdowns began.

Despite fewer claims made during the lockdown periods, premiums were likely to stay the same, as insurers try to recoup their losses, Lee said.
“Insurers will have to account for some of the shortfalls faced before the pandemic,” the PolicyStreet.com CEO said during a webinar today.

Lee anticipated that future calculations of insurance premium payments would go high-tech, based on telematics.

Telematics involves using a tracker fitted into a car to determine how gently or roughly a vehicle is driven. It also helps in the recovery of a vehicle in case of theft, as it is built-in with global-positioning system (GPS) tracking.

Lee said insurers would then reward customers who drove well and economically under this telematics system, offering discounts on their annual premiums.

He said the telematics move will see the phasing out of traditional, fixed-price premiums currently in use, giving way to personalised premiums based on the driver’s risk profile.

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 Financial literacy should be mandated in all curriculumNovember 10, 2021 @ 12:02am
LETTERS: The financial literacy among our youth is alarmingly low, according to the headline of one article in this newspaper last year.

The Insolvency Department said 84,805 Malaysians were declared bankrupt between 2015 and 2019, with people below 34 making up 26 per cent of the cases.

Even more worrying, Bank Negara Malaysia stated that 47 per cent of Malaysian youth had high credit card debt.

The Covid-19 pandemic has brought about further challenges that has impacted society.
The Malaysian Financial Literacy Survey 2020 further highlights the worrying levels of financial literacy in the nation. The survey found that personal finance habits of Malaysians have not improved since 2019.

 Also, 53 per cent of respondents could not survive more than three months with their savings, if they lose their job. Malaysians are also found to be spending what they earn or more than what they earn.

Another major concern is the lack of retirement planning.

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FOTO HIASANNovember 12, 2021 @ 7:00am
Kuala Lumpur: Sebanyak 8,162 kes penipuan e-dagang dengan kerugian berjumlah RM57.73 juta dilaporkan di seluruh negara sepanjang tahun ini hingga 31 Oktober lalu.

Pegawai Penyiasat (Pelaburan Bersindiket atau Lain-lain Jenayah) Jabatan Siasatan Jenayah dan Komersial (JSJK) Bukit Aman Asisten Komisioner Mohd Sa'adon Sabirin berkata, trend penipuan e-dagang dilaporkan terus meningkat jika dibandingkan pada 2018 dengan 3,318 kes membabitkan kerugian berjumlah RM22.39 juta.

"Keadaan bertambah teruk pada 2020 apabila pandemik Covid-19 melanda yang mana 5,848 kes penipuan e-dagang dilaporkan apabila lebih ramai orang membeli dalam talian.

"Statistik ini adalah melibatkan mereka yang ditipu dan membuat laporan namun saya percaya masih ada tidak membuat laporan polis," katanya pada sesi webinar Penipuan e-dagang: Barang Hilang, Duit Melayang anjuran Bank Negara Malaysia (BNM), malam kelmarin.

Mohd Sa'adon berkata, jumlah keseluruhan kerugian dicatatkan bagi penipuan e-dagang untuk tempoh 2018 hingga Oktober lalu adalah bernilai RM149 juta.

Beliau berkata, rakyat Malaysia terdedah kepada penipuan e-dagang berikutan peningkatan trend pembelian dalam talian secara tidak langsung boleh menjadi mangsa penipuan jika tidak berhati-hati ketika membuat urusan jual beli.

Pada masa sama, beliau meminta agar mangsa penipuan e-dagang untuk membuat laporan polis bagi membolehkan maklumat dan data berkaitan scammer dikumpul untuk tindakan selanjutnya.

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November 6, 2021 9:15 AM
KUALA LUMPUR: A retired woman lecturer was fleeced of RM1.8 million after receiving a call, supposedly from a Telekom Malaysia officer, accusing her of being involved in online gambling and money laundering.

Kuala Lumpur Commercial Crime Investigation Department (CCID) deputy chief Tan Poh Cheok said the 80-year-old victim lodged a police report on Monday after realising that she had been cheated.
On Oct 1, the caller told her to make several cash transfers amounting to RM730,000, apart from asking her to hand over her ATM card.

Following that, the victim discovered that large sums had been withdrawn from her account and that she lost RM1.8 million in total, Tan said in a statement today.

The public are reminded not to disclose their account details and OTP/TAC numbers to anyone on the telephone even if they claim to be from investigating agencies.

“Report any suspicious activity to the Kuala Lumpur police hotline at 03-2146 0584/0585 or any nearby police station,” Tan added.

Source: https://www.freemalaysiatoday.com/category/nation/2021/11/06/retired-lecturer-loses-rm1-8mil-after-scam-call/

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November 6, 2021 @ 4:10pm
KUALA LUMPUR: Consumers should check the prices of wet and dry foods at restaurants or eating outlets carefully, including estimating the total price before the purchase, said Federation of Malaysian Consumers Associations (Fomca).

Its deputy president Mohd Yusof Abdul Rahman said consumers could always report to the relevant authorities if they find the charges unreasonable.

He said price manipulation was not something new, particularly with wet goods, as the prices were often displayed in grammes instead of kilogrammes.

"It's a norm that we eat first and pay later, so much so that many people do not look at the price and often think that the price will not be much different at the restaurant that they regularly go.

"The issue of excessive charges should be a reminder for consumers to always get the price before they start their meals because the operators have played their part in displaying the prices, although the price maybe confusing as it is stated in gms instead of kgs," he told BH today.

Langkawi Domestic Trade and Consumer Affairs department had initiated an investigation under the Price Control and Anti-Profiteering Act 2011 after a group of tourists took to the social media complaining they paid RM1,196 for a sea bass at a restaurant in Langkawi.

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14/10/2021
KUALA LUMPUR (Oct 14): Bank Negara Malaysia (BNM) welcomes the Financial Management & Resilience Programme (URUS) by Agensi Kaunseling dan Pengurusan Kredit (AKPK) and the banking industry, which seeks to aid B50 borrowers with performing loans who have lost their jobs or who are experiencing income loss of at least 50%.

In a statement on Thursday, the central bank said eligible borrowers who wish to apply for the programme can approach their banks starting from Nov 15, 2021 to Jan 31, 2022.

"BNM has been working with AKPK to put in place a holistic debt management and financial planning solution. The aim is to provide appropriate support to borrowers so that they not only meet their loan obligations but importantly, return to a firmer financial footing.

"This will strengthen the financial resilience of borrowers in the longer term," said governor Datuk Nor Shamsiah Mohd Yunus.

Meanwhile, the central bank also encouraged those that are not eligible for URUS to also approach their banks to discuss other repayment solutions that suit their financial circumstances.

It said borrowers and customers facing any difficulty with their applications may contact BNMTELELINK at bnm.my/RAsurvey to seek assistance, and that they may obtain more information on the new scheme by visiting banks' and AKPK's websites.

There will be further enhancements to BNM's Fund for SMEs in the Budget 2022, added the bank, targeted at assisting businesses in their cash flow management and reposition themselves with the reopening of the economy.

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September 28, 2021 @ 3:13pm
KUALA LUMPUR: Kerajaan disaran menetapkan kontrak bersama pengeluar atau penternak ayam sebagai antara langkah penyelesaian mengawal mekanisme harga yang dilihat turun naik secara bermusim setiap tahun.

Pada masa sama, Timbalan Presiden Gabungan Persatuan-Persatuan Pengguna Malaysia (FOMCA), Mohd Yusof Abdul Rahman, berkata katanya, subsidi yang disediakan perlu diteruskan.

"Isu kenaikan harga ayam di pasaran bukan perkara asing, malah kerap dipersoalkan pengguna hingga menjadikannya seolah-olah trend bermusim.

"Pelbagai langkah boleh diambil pihak berkaitan seperti menetapkan harga ayam dalam tempoh tertentu termasuk kontrak menetapkan harga bahan dedak seperti jagung dan kacang soya, di samping mengadakan perjanjian bersama penternak serta peladang," katanya kepada BH, hari ini.

Beliau mengulas kenyataan berhubung kesediaan pihak industri menurunkan harga ayam di peringkat pengeluar atau peladang bagi membolehkan pengguna mendapatkan bekalan bahan makanan itu dengan harga berpatutan.

Mohd Yusof berkata, pelaksanaan cadangan Kementerian Perdagangan Dalam Negeri dan Hal Ehwal Pengguna (KPDNHEP) serta Kementerian Pertanian dan Industri Makanan akan (MAFI) memanfaatkan semua pihak.

"Cadangan termasuk pemberian kemudahan pinjaman mudah bagi membantu industri mengekalkan jumlah pengeluaran ayam mencukupi perlu disegerakan, termasuk memastikan subsidi harga komponen makanan ayam yang diimport," katanya.

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September 25, 2021 @ 5:22pm
KUALA LUMPUR: Gabungan Persatuan-Persatuan Pengguna Malaysia (FOMCA) optimis sektor pengangkutan bas ekspres akan pulih kembali memandangkan ia antara satu keperluan bagi mereka yang tidak mempunyai pengangkutan.

Timbalan Presiden FOMCA, Mohd Yusof Abdul Rahman, berkata ketika ini, perkhidmatan itu terhenti berikutan aktiviti rentas negeri belum dibenarkan dan kebanyakan orang masih lagi bekerja dari rumah.

Keadaan itu, katanya, menyebabkan keperluan menggunakan pengangkutan itu dianggap 'beku' seketika sebelum ia kembali rancak apabila semuanya kembali beransur pulih.

"Saya yakin, apabila semua sektor ekonomi dan rentas negeri mula dibenarkan, secara automatik, pengangkutan ekspres ini akan turut pulih.
"Contohnya seperti Langkawi, apabila mula dibuka sebagai gelembung pelancongan, sektor pengangkutan udara juga secara perlahan-lahan mula menerima tempahan pengguna," katanya kepada BH.

BH hari ini melaporkan mengenai perkhidmatan bas di negara ini yang dikhuatiri lumpuh sekurang-kurangnya dalam tempoh dua tahun kesan daripada pandemik COVID-19 dan pelaksanaan larangan rentas negeri.

Mohd Yusof berkata, jika pengangkutan bas ekspres lumpuh, ia sudah tentu akan menyukarkan pengguna lebih-lebih lagi mereka yang memerlukan perkhidmatan itu untuk perjalanan jarak jauh.

"Jika pengguna bergantung kepada e-hailing, tambangnya mahal. Jadi, pengangkutan bas ekspres adalah jalan penyelesaiannya.

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26 Sep 2021 10:00AM
President says competition among agencies means better deals for customers
KUALA LUMPUR – Consumers will be the ones at a loss if the government takes up the call by budget hoteliers to regulate online travel booking platforms.

Federation of Malaysian Consumers’ Associations (Fomca) president Datuk Marimuthu Nadason said online travel agencies (OTAs) now give consumers the benefit of choice, unlike in the past.

Competition among the various platforms means cheaper bookings for hotel rooms, as rival companies attempt to outdo one another.

Citing an example, Marimuthu said before the existence of OTAs, directly booking a single night’s stay at a five-star hotel could cost around RM600.

“But with these online platforms, you see that sometimes, there are promotions of up to 50% off the original rate,” he told The Vibes.

“Through these agencies, it’s easier to check if prices are lower during non-peak periods like weekdays,” he said, adding that consumers also have the option of comparing the prices offered by the different service providers.

He was responding to a proposal from the Malaysia Budget and Business Hotel Association for the government to regulate OTAs on the grounds that these booking agencies are eating into their profits.

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See the source image26/09/2021
KOTA KINABALU: Pertubuhan Hal Ehwal dan Pelindung Pengguna Sabah (CAPS) menyambut baik cadangan kerajaan menurunkan harga siling untuk Kit Ujian Kendiri (RTK) Antigen COVID-19 yang menggunakan sampel air liur.

Penurunan harga set RTK ini amat dialu-alukan kerana inilah masa yang sesuai untuk kerajaan memperlihat dan membuktikan keprihatinannya kepada rakyat yang selama ini tertekan dengan kegawatan kewangan untuk kelansungan hidup mereka.

Presidennya, James Baga (gambar), berkata dengan penurunan harga siling alat set kit tersebut sudah pasti membawa berita baik kepada masyarakat pengguna kerana secara tidak langsung ianya dapat meringankan beban kerana alat set tersebut dapat diperolehi dengan harga mampu milik.

Selain itu katanya, CAPS mencadangkan kepada kerajaan agar membenarkan penjualan set uji kendiri RTK ini dijual secara terbuka dan bukannya terhad kepada kedai-kedai ubat dan farmasi.

“Selain memudahkan orang awam untuk mendapatkannya, ianya juga secara tidak lansung dapat menurun dan menstabilkan harga kerana terdapat persaingan harga antara pembekal, pemborong atau peruncit dalam pasaran.

“Disamping itu, Kementerian Kesihatan Malaysia KKM) juga perlu menyenaraikan jenama set uji kendiri RTK yang diluluskan agar pengguna mendapat maklumat tepat dan sahih untuk mengelakkan mereka terbeli ujian kit yang tiruan dan tidak berkualiti,” katanya dalam kenyataan media hari ini.

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