Friday, March 30, 2007
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Wednesday, March 21, 2007
Sunday, March 18, 2007
Something to think about.....
source: nstp online [click here for details]18 Mar 2007 Patrick Sennyah
MORE Malaysians are being declared bankrupt. And 40 per cent of bankruptcies is the result of failure to repay personal or business loans and credit card abuse.
"Up to February, there were 2,265 cases. Last year, there were 13,590 cases," said Deputy Minister in the Prime Minister’s Department Datuk M. Kayveas.
Based on a study conducted by Universiti Malaya, he said it was worrying that some of the credit card defaulters declared bankrupt were aged between 20 and 30.
After credit card and persoanl loan defaulters, housing and car loans defaulters made up 25 per cent of bankruptcies followed by guarantors (21 per cent) and the rest were defaulters of scholarships and stock exchange losses.
According to the National Insolvency Department, a cumulative total of 153,676 bankruptcy cases have been recorded with them.
The total debt of these outstanding payments amounted to more than RM300 billion. Credit card debts stood at RM20 billion.
"Some people have at least three credit cards with an accumulated spending limit of more than 15 times their earning capacity," said Kayeas.
The minimum debt to initiate a bankruptcy is RM30,000, following a revision to the Bankruptcy Act 1967 in October 2003.
Kayveas said a credit card holder would get into serious trouble when the card was used for cash advances.
"The problem is many do not realise the interest rate for cash advances is very high. Within months, this can snowball into a large amount."
He said the fact that a person could get a credit card or personal loan so easily these days was worrying.
"In earlier times, a person would have to earn at least RM24,000 per annum to qualify for a credit card.
"These days, someone earning RM1,000 a month can get a card."
Kayveas said this was worrying considering a fresh graduate earned about RM1,200 and could have three credit cards with a credit limit of RM20,000.
"Though those aged between 41-50 form the largest group of bankrupts, followed by the 31-40 group, it is unacceptable for someone under 30 to be declared a bankrupt."
He urged banks and financial institutions to be more stringent in extending credit.
"An increasing number of banks is publicising their personal loans and how easy it is to obtain one.
"Banks should be more meticulous in issuing these loans and credit cards considering that some people abuse these facilities."
There are nine million credit card holders nationwide.
A bankrupt will have his passport impounded by the Immigration Department and his bank account frozen.
Meanwhile, a senior bank official said it was up to a bank to issue a credit card or extend a personal loan.
"We have to check a person’s creditworthiness and then decide if he is eligible."
The bank officer did acknowledge that there was stiff competition among banks and some adopted relaxed rules in giving loans and credit cards.
Friday, March 16, 2007
Tuesday, March 06, 2007
website ni bukan official website mrsm taiping... mau carik official punya, http://www.mrsmkm.edu.my/taiping/. segala isi kandungan dalam blog ni tak mewakili mrsm taiping dan MARA. Untuk cari Ansara Cawangan Taiping, bleh p ke http://www.actorg.net. Kat ACTorg.net, webmaster dia Abg Damit.... website ni utk geng2 mrsm taiping batch 9495 lay-park, borak2, merapu, meroyan, melalak.
jemput tengok dan tengok lagi.. kalau tak puas jugak bleh la tinggal message ka, letak comment ka... mau Lagi??? email la sama wa kat taiping9495 at gmail dot com.
terima kasih kat sapa2 yg tolong website ni secara jualan langsung atau black market....
article yg ada dlm ni adalah hakcipta blog ni kecuali ada dinyatakan dicilok dari sumber2 tertentu... segala komen yg dibuat dalam blog ni takde langsung mewakili blog nih.. komen2 tu adalah hak dan rekacipta org yg tulis komen tu... ada paham? webmaster ada hak utk meng'edit', meng'keluar'kan mana2 post yg dirasakan tidak sesuai