
Article taken from New Sunday Times.
With an accumulated debt of RM337 million and nowhere to turn on, many people had attempt suicide.
But the Credit Counselling And Debt Management Agency (AKPK), which set up office in 2006, had counselled and helped them to manage their income.
“For those with no jobs, it recommended suitable work”, says it’s operation’s division general manager, Pn Nor Fazleen Zakaria.
“We have 24 counsellors with banking background to help these people”.
“Some walk into the AKPK office crying; some are overwhelmed and then there are those who contemplate suicide to end their financial troubles.”
But they see the light at the end of the tunnel when they learn that financial education is their best investment.
AKPK has helped 350,000 people avoid bankruptcy.
But the agency is regarded as the last resort for those who are either staring at bankruptcy or looking at being part of the suicide statistics.
“Those who come to us for help could be anybody – businessman, bankers, those in the low-income group, retirees and students”.
“Many have serious financial problems because they do not have financial literacy,” said Annie Tan, a counsellor at the agency.
“People come to us when they are unable to handle their financial problems, when things are spiralling out of control.”
“These people do not want to be judged. All they want is help, patience, understanding and a solutions to their problems.”
Tan said that after talking to the counsellors, they realised that their problems could be solved as AKPK was committed to helping them.
“We also tell people with financial problems to come to us before they become a bankrupt. I have had people come to us with debts of up to RM1.4 million and some RM20,000.”
Many of them sought assistance at AKPK after learning about the agency through friends who were in the same predicament, through social media, television or radio.
Former bank employee Syaiful Anuar, 39, said he had no regrets moving from commercial banking to AKPK because he liked helping people.
“Those who come to us are depressed, hadn’t slept in days, suicidal and do not realise there are solutions to their problems.”
“They can overcome their financial problems by learning to manage their finances better.
“The problem with those whom I have helped is that they had wanted to live up to the expectations of others, despite not having the means to do so, and ended up with huge to mountain their lifestyle.”
Syaiful said people should live within their means and keep track of their money if they did not want to get into debts of financial problems.
“I see people as young as 18 who have sought counselling for financial woes. The oldest was in his 70’s.”
When Habibah Abdullah, a counsellor at AKPK, was newly married and raising a young family, she underwent financial problems.
Making ends meet was difficult but she preserved and luckily for the couple, they were able to ride out the tough times.
Now, as a counsellor, she uses her experience to teach others how to manage their funds to the best of their ability.
“I understand what people with financial problems go through, because many of us have been there.”
“Luckily for us, we are able to solve our problems as conditions were much different then, unlike now, where with rising cost, people are spending more.”
“Recently, I counselled a young man below 40 who had accumulated debts of RM 100,000. He has lost his job, home and his wife left him, taking their children together. To make matters worse, creditors were breathing down his neck.”
Habibah’s advice to him was to get a job and then, coming back to AKPK to get into the programme which could enable him to start paying off his debts.
“Without a job, this man was heading straight into bankruptcy. My advice to him was to get a job, then come and see us as we will able to tell him how he can repay his debts.
“The man was unsure whether anyone could employ him but I told him to seek God’s blessing and start looking for a job. He went away, a much happier man and I am still waiting for him to come back to AKPK,” said Habibah.
Veronica Kow Li-Lian used to go home very depressed emotional when she first join AKPK.
That was because she became very affected by the very people whom she counselled and helped.
Some of them were abused woman whose husbands has left them after making sure they took out loans in their names.
“The women, wanting to help their husbands in businesses, would take the loans. The problem would start when the men walk out on their marriages and the women are left to settle the loans.”
“Many of these women earn small salaries and it is definitely not easy. That is why they end up with financial problems.”
For Kow, when the woman cry on their shoulders, she too ends up crying with them.
“Here at AKPK we do the right thing by finding solutions to their financial problems. And the best part is when people pay off their debts.”
“After participating in our debt restructure programme, they are much happier and are more prudent with their money as they do not want to be caught in such a problematic situation again.”
Article taken from New Sunday Times.
With an accumulated debt of RM337 million and nowhere to turn on, many people had attempt suicide.
But the Credit Counselling And Debt Management Agency (AKPK), which set up office in 2006, had counselled and helped them to manage their income.
“For those with no jobs, it recommended suitable work”, says it’s operation’s division general manager, Pn Nor Fazleen Zakaria.
“We have 24 counsellors with banking background to help these people”.
“Some walk into the AKPK office crying; some are overwhelmed and then there are those who contemplate suicide to end their financial troubles.”
But they see the light at the end of the tunnel when they learn that financial education is their best investment.
AKPK has helped 350,000 people avoid bankruptcy.
But the agency is regarded as the last resort for those who are either staring at bankruptcy or looking at being part of the suicide statistics.
“Those who come to us for help could be anybody – businessman, bankers, those in the low-income group, retirees and students”.
“Many have serious financial problems because they do not have financial literacy,” said Annie Tan, a counsellor at the agency.
“People come to us when they are unable to handle their financial problems, when things are spiralling out of control.”
“These people do not want to be judged. All they want is help, patience, understanding and a solutions to their problems.”
Tan said that after talking to the counsellors, they realised that their problems could be solved as AKPK was committed to helping them.
“We also tell people with financial problems to come to us before they become a bankrupt. I have had people come to us with debts of up to RM1.4 million and some RM20,000.”
Many of them sought assistance at AKPK after learning about the agency through friends who were in the same predicament, through social media, television or radio.
Former bank employee Syaiful Anuar, 39, said he had no regrets moving from commercial banking to AKPK because he liked helping people.
“Those who come to us are depressed, hadn’t slept in days, suicidal and do not realise there are solutions to their problems.”
“They can overcome their financial problems by learning to manage their finances better.
“The problem with those whom I have helped is that they had wanted to live up to the expectations of others, despite not having the means to do so, and ended up with huge to mountain their lifestyle.”
Syaiful said people should live within their means and keep track of their money if they did not want to get into debts of financial problems.
“I see people as young as 18 who have sought counselling for financial woes. The oldest was in his 70’s.”
When Habibah Abdullah, a counsellor at AKPK, was newly married and raising a young family, she underwent financial problems.
Making ends meet was difficult but she preserved and luckily for the couple, they were able to ride out the tough times.
Now, as a counsellor, she uses her experience to teach others how to manage their funds to the best of their ability.
“I understand what people with financial problems go through, because many of us have been there.”
“Luckily for us, we are able to solve our problems as conditions were much different then, unlike now, where with rising cost, people are spending more.”
“Recently, I counselled a young man below 40 who had accumulated debts of RM 100,000. He has lost his job, home and his wife left him, taking their children together. To make matters worse, creditors were breathing down his neck.”
Habibah’s advice to him was to get a job and then, coming back to AKPK to get into the programme which could enable him to start paying off his debts.
“Without a job, this man was heading straight into bankruptcy. My advice to him was to get a job, then come and see us as we will able to tell him how he can repay his debts.
“The man was unsure whether anyone could employ him but I told him to seek God’s blessing and start looking for a job. He went away, a much happier man and I am still waiting for him to come back to AKPK,” said Habibah.
Veronica Kow Li-Lian used to go home very depressed emotional when she first join AKPK.
That was because she became very affected by the very people whom she counselled and helped.
Some of them were abused woman whose husbands has left them after making sure they took out loans in their names.
“The women, wanting to help their husbands in businesses, would take the loans. The problem would start when the men walk out on their marriages and the women are left to settle the loans.”
“Many of these women earn small salaries and it is definitely not easy. That is why they end up with financial problems.”
For Kow, when the woman cry on their shoulders, she too ends up crying with them.
“Here at AKPK we do the right thing by finding solutions to their financial problems. And the best part is when people pay off their debts.”
“After participating in our debt restructure programme, they are much happier and are more prudent with their money as they do not want to be caught in such a problematic situation again.”
Ogo 05, 2015 | financialmanagement
Article taken from New Sunday Times.
With an accumulated debt of RM337 million and nowhere to turn on, many people had attempt suicide.
But the Credit Counselling And Debt Management Agency (AKPK), which set up office in 2006, had counselled and helped them to manage their income.
“For those with no jobs, it recommended suitable work”, says it’s operation’s division general manager, Pn Nor Fazleen Zakaria.
“We have 24 counsellors with banking background to help these people”.
“Some walk into the AKPK office crying; some are overwhelmed and then there are those who contemplate suicide to end their financial troubles.”
But they see the light at the end of the tunnel when they learn that financial education is their best investment.
AKPK has helped 350,000 people avoid bankruptcy.
But the agency is regarded as the last resort for those who are either staring at bankruptcy or looking at being part of the suicide statistics.
“Those who come to us for help could be anybody – businessman, bankers, those in the low-income group, retirees and students”.
“Many have serious financial problems because they do not have financial literacy,” said Annie Tan, a counsellor at the agency.
“People come to us when they are unable to handle their financial problems, when things are spiralling out of control.”
“These people do not want to be judged. All they want is help, patience, understanding and a solutions to their problems.”
Tan said that after talking to the counsellors, they realised that their problems could be solved as AKPK was committed to helping them.
“We also tell people with financial problems to come to us before they become a bankrupt. I have had people come to us with debts of up to RM1.4 million and some RM20,000.”
Many of them sought assistance at AKPK after learning about the agency through friends who were in the same predicament, through social media, television or radio.
Former bank employee Syaiful Anuar, 39, said he had no regrets moving from commercial banking to AKPK because he liked helping people.
“Those who come to us are depressed, hadn’t slept in days, suicidal and do not realise there are solutions to their problems.”
“They can overcome their financial problems by learning to manage their finances better.
“The problem with those whom I have helped is that they had wanted to live up to the expectations of others, despite not having the means to do so, and ended up with huge to mountain their lifestyle.”
Syaiful said people should live within their means and keep track of their money if they did not want to get into debts of financial problems.
“I see people as young as 18 who have sought counselling for financial woes. The oldest was in his 70’s.”
When Habibah Abdullah, a counsellor at AKPK, was newly married and raising a young family, she underwent financial problems.
Making ends meet was difficult but she preserved and luckily for the couple, they were able to ride out the tough times.
Now, as a counsellor, she uses her experience to teach others how to manage their funds to the best of their ability.
“I understand what people with financial problems go through, because many of us have been there.”
“Luckily for us, we are able to solve our problems as conditions were much different then, unlike now, where with rising cost, people are spending more.”
“Recently, I counselled a young man below 40 who had accumulated debts of RM 100,000. He has lost his job, home and his wife left him, taking their children together. To make matters worse, creditors were breathing down his neck.”
Habibah’s advice to him was to get a job and then, coming back to AKPK to get into the programme which could enable him to start paying off his debts.
“Without a job, this man was heading straight into bankruptcy. My advice to him was to get a job, then come and see us as we will able to tell him how he can repay his debts.
“The man was unsure whether anyone could employ him but I told him to seek God’s blessing and start looking for a job. He went away, a much happier man and I am still waiting for him to come back to AKPK,” said Habibah.
Veronica Kow Li-Lian used to go home very depressed emotional when she first join AKPK.
That was because she became very affected by the very people whom she counselled and helped.
Some of them were abused woman whose husbands has left them after making sure they took out loans in their names.
“The women, wanting to help their husbands in businesses, would take the loans. The problem would start when the men walk out on their marriages and the women are left to settle the loans.”
“Many of these women earn small salaries and it is definitely not easy. That is why they end up with financial problems.”
For Kow, when the woman cry on their shoulders, she too ends up crying with them.
“Here at AKPK we do the right thing by finding solutions to their financial problems. And the best part is when people pay off their debts.”
“After participating in our debt restructure programme, they are much happier and are more prudent with their money as they do not want to be caught in such a problematic situation again.”

Article taken from New Sunday Times
They each contemplated suicide. But a good Samaritan showed them that their financial woes could be overcome by going to the debt management agency.
“We had nowhere to turn to and had become social outcast because of our debts. I was a well-respected senior naval officer in Malaysia before I moved to England,” said 73 years old aliff (not his real name).
“My financial worries started some time after my wife died right before of my eyes during a snatch theft robbery when we returned to Malaysia for a vacation.”
That was more than a decade ago.
He didn’t have a job and was using up his savings and credit cards. When he got into credit card debts, Aliff’s life spiralled out of control.
He became a social outcast, and his family was of no help o him.
Totally abandoned and almost giving up on life, Aliff’s life changed when a house guest told him to seek the assistance of AKPK, to help settle his debts.
“My credit card debts were about RM 19,000. I accumulated the debts because I have no job, and had to use the credit cards to pay my bills.”
In the four years Aliff joined the AKPK programme, he has been able to settle some RM 13,000.
“I am living within my means and know what are my wants and needs. At the end of the day, what is important is the fact that we should cut our coat according to the cloth we have.”
International banker Simon will never trust others with his money and investments.
His world come crashing down on coming home from his overseas posting when he found out that his business partner had wiped out his finances and helped himself to his money, using his credit cards.
“I came home to a mountain of debt, some RM 520,000 worth of debts, My business partner ran our company to the ground and took off with my money. There was nothing I can do about it.”
With banks and lawyers breathing down his neck for money, Simon had no choice but to downgrade his lifestyle.
He had to sell his house to pay back the money and his wife was forced to go back to work, to help pay the bills.
“There was resentment, of course, but we are working out things slowly. I have been looking for my business partner but he has disappeared with my money,” said Simon.
Former bank employee Segaran’s problems started when his wife met with an accident, which almost killed her.
Her treatment and other family matters saw Gunasegaran’s debts spiralling up to RM150,000. Having nowhere to turn to, he wanted to end it all by killing himself.
“When you are overwhelmed with financial problems and have nowhere to turn to, suicide becomes an option.”
“Luckily, I turned to AKPK for help. They have been a great help to me and in June this year, I managed to settle all my debts.”
“The best news in the last couple of years is that my wife had made a complete recovery from the injuries she sustained in the accident.” Said Segaran.
Now, as a couple, Segaran and his wife were looking forward to enjoying their life with their children, as their financial woes are over.
“My wife and children have been my pillar of strength. I have saved some money for my children’s tertiary education and I am grateful to the people at AKPK who have helped me tremendously.”
Article taken from New Sunday Times
They each contemplated suicide. But a good Samaritan showed them that their financial woes could be overcome by going to the debt management agency.
“We had nowhere to turn to and had become social outcast because of our debts. I was a well-respected senior naval officer in Malaysia before I moved to England,” said 73 years old aliff (not his real name).
“My financial worries started some time after my wife died right before of my eyes during a snatch theft robbery when we returned to Malaysia for a vacation.”
That was more than a decade ago.
He didn’t have a job and was using up his savings and credit cards. When he got into credit card debts, Aliff’s life spiralled out of control.
He became a social outcast, and his family was of no help o him.
Totally abandoned and almost giving up on life, Aliff’s life changed when a house guest told him to seek the assistance of AKPK, to help settle his debts.
“My credit card debts were about RM 19,000. I accumulated the debts because I have no job, and had to use the credit cards to pay my bills.”
In the four years Aliff joined the AKPK programme, he has been able to settle some RM 13,000.
“I am living within my means and know what are my wants and needs. At the end of the day, what is important is the fact that we should cut our coat according to the cloth we have.”
International banker Simon will never trust others with his money and investments.
His world come crashing down on coming home from his overseas posting when he found out that his business partner had wiped out his finances and helped himself to his money, using his credit cards.
“I came home to a mountain of debt, some RM 520,000 worth of debts, My business partner ran our company to the ground and took off with my money. There was nothing I can do about it.”
With banks and lawyers breathing down his neck for money, Simon had no choice but to downgrade his lifestyle.
He had to sell his house to pay back the money and his wife was forced to go back to work, to help pay the bills.
“There was resentment, of course, but we are working out things slowly. I have been looking for my business partner but he has disappeared with my money,” said Simon.
Former bank employee Segaran’s problems started when his wife met with an accident, which almost killed her.
Her treatment and other family matters saw Gunasegaran’s debts spiralling up to RM150,000. Having nowhere to turn to, he wanted to end it all by killing himself.
“When you are overwhelmed with financial problems and have nowhere to turn to, suicide becomes an option.”
“Luckily, I turned to AKPK for help. They have been a great help to me and in June this year, I managed to settle all my debts.”
“The best news in the last couple of years is that my wife had made a complete recovery from the injuries she sustained in the accident.” Said Segaran.
Now, as a couple, Segaran and his wife were looking forward to enjoying their life with their children, as their financial woes are over.
“My wife and children have been my pillar of strength. I have saved some money for my children’s tertiary education and I am grateful to the people at AKPK who have helped me tremendously.”
Ogo 05, 2015 | financialmanagement
Article taken from New Sunday Times
They each contemplated suicide. But a good Samaritan showed them that their financial woes could be overcome by going to the debt management agency.
“We had nowhere to turn to and had become social outcast because of our debts. I was a well-respected senior naval officer in Malaysia before I moved to England,” said 73 years old aliff (not his real name).
“My financial worries started some time after my wife died right before of my eyes during a snatch theft robbery when we returned to Malaysia for a vacation.”
That was more than a decade ago.
He didn’t have a job and was using up his savings and credit cards. When he got into credit card debts, Aliff’s life spiralled out of control.
He became a social outcast, and his family was of no help o him.
Totally abandoned and almost giving up on life, Aliff’s life changed when a house guest told him to seek the assistance of AKPK, to help settle his debts.
“My credit card debts were about RM 19,000. I accumulated the debts because I have no job, and had to use the credit cards to pay my bills.”
In the four years Aliff joined the AKPK programme, he has been able to settle some RM 13,000.
“I am living within my means and know what are my wants and needs. At the end of the day, what is important is the fact that we should cut our coat according to the cloth we have.”
International banker Simon will never trust others with his money and investments.
His world come crashing down on coming home from his overseas posting when he found out that his business partner had wiped out his finances and helped himself to his money, using his credit cards.
“I came home to a mountain of debt, some RM 520,000 worth of debts, My business partner ran our company to the ground and took off with my money. There was nothing I can do about it.”
With banks and lawyers breathing down his neck for money, Simon had no choice but to downgrade his lifestyle.
He had to sell his house to pay back the money and his wife was forced to go back to work, to help pay the bills.
“There was resentment, of course, but we are working out things slowly. I have been looking for my business partner but he has disappeared with my money,” said Simon.
Former bank employee Segaran’s problems started when his wife met with an accident, which almost killed her.
Her treatment and other family matters saw Gunasegaran’s debts spiralling up to RM150,000. Having nowhere to turn to, he wanted to end it all by killing himself.
“When you are overwhelmed with financial problems and have nowhere to turn to, suicide becomes an option.”
“Luckily, I turned to AKPK for help. They have been a great help to me and in June this year, I managed to settle all my debts.”
“The best news in the last couple of years is that my wife had made a complete recovery from the injuries she sustained in the accident.” Said Segaran.
Now, as a couple, Segaran and his wife were looking forward to enjoying their life with their children, as their financial woes are over.
“My wife and children have been my pillar of strength. I have saved some money for my children’s tertiary education and I am grateful to the people at AKPK who have helped me tremendously.”

Article from New Sunday Times
IT is astounding that more than 350,000 people were on the brink of bankruptcy with an accumulated debt of RM337 million, until they were saved by the Counselling and Credit Management Agency.
The agency was a saviour to these people, who had no way out and were contemplating suicide. The agency counselled and helped them to manage their finances. It also recommended jobs for those with no jobs.
Fresh graduates and young professionals are not able to make ends meet because bank loans and debts take up a sizeable chunk of their income.
The two biggest items are housing and car loans. The rising rate of household debt, due to rising prices of goods and services, and credit card bills, has put many households in the red.
Bank Negara has introduced measures to prevent excessive household debt by reducing housing loan and personal loan repayment tenure.
Young people will find it more difficult to buy homes as banks reduce the housing loan period. More young people are getting into debt because of inflation and rising cost of living. Some are living beyond their means and struggling to make ends meet. Their lack of financial knowledge and education, coupled with expensive lifestyle choices, put the younger generation in financial difficulties.
Credit cards have allowed young people to spend beyond their means. Previously, people spent only on what they could afford but, today, many spend money that they do not have. Young adults need to be responsible using credit cards. Buy only what is necessary.
Pride is the reason why people buy things they do not need. They just want to impress people they do not know. It would be wise to earn before you spend, and not spend before you earn.
Credit cards should not be made available to everyone and the minimum wage to own a credit card should be raised. Individuals should not have more than one credit card.
Many young couples spend lavishly on weddings and honeymoons, which make them debtors at the beginning of their marriage. Young people should be encouraged to use debit cards and not credit cards if they are not able to pay in full each month.
The young should be equipped with knowledge on how to handle money matters.
Article from New Sunday Times
IT is astounding that more than 350,000 people were on the brink of bankruptcy with an accumulated debt of RM337 million, until they were saved by the Counselling and Credit Management Agency.
The agency was a saviour to these people, who had no way out and were contemplating suicide. The agency counselled and helped them to manage their finances. It also recommended jobs for those with no jobs.
Fresh graduates and young professionals are not able to make ends meet because bank loans and debts take up a sizeable chunk of their income.
The two biggest items are housing and car loans. The rising rate of household debt, due to rising prices of goods and services, and credit card bills, has put many households in the red.
Bank Negara has introduced measures to prevent excessive household debt by reducing housing loan and personal loan repayment tenure.
Young people will find it more difficult to buy homes as banks reduce the housing loan period. More young people are getting into debt because of inflation and rising cost of living. Some are living beyond their means and struggling to make ends meet. Their lack of financial knowledge and education, coupled with expensive lifestyle choices, put the younger generation in financial difficulties.
Credit cards have allowed young people to spend beyond their means. Previously, people spent only on what they could afford but, today, many spend money that they do not have. Young adults need to be responsible using credit cards. Buy only what is necessary.
Pride is the reason why people buy things they do not need. They just want to impress people they do not know. It would be wise to earn before you spend, and not spend before you earn.
Credit cards should not be made available to everyone and the minimum wage to own a credit card should be raised. Individuals should not have more than one credit card.
Many young couples spend lavishly on weddings and honeymoons, which make them debtors at the beginning of their marriage. Young people should be encouraged to use debit cards and not credit cards if they are not able to pay in full each month.
The young should be equipped with knowledge on how to handle money matters.
Ogo 10, 2015 | financialmanagement
Article from New Sunday Times
IT is astounding that more than 350,000 people were on the brink of bankruptcy with an accumulated debt of RM337 million, until they were saved by the Counselling and Credit Management Agency.
The agency was a saviour to these people, who had no way out and were contemplating suicide. The agency counselled and helped them to manage their finances. It also recommended jobs for those with no jobs.
Fresh graduates and young professionals are not able to make ends meet because bank loans and debts take up a sizeable chunk of their income.
The two biggest items are housing and car loans. The rising rate of household debt, due to rising prices of goods and services, and credit card bills, has put many households in the red.
Bank Negara has introduced measures to prevent excessive household debt by reducing housing loan and personal loan repayment tenure.
Young people will find it more difficult to buy homes as banks reduce the housing loan period. More young people are getting into debt because of inflation and rising cost of living. Some are living beyond their means and struggling to make ends meet. Their lack of financial knowledge and education, coupled with expensive lifestyle choices, put the younger generation in financial difficulties.
Credit cards have allowed young people to spend beyond their means. Previously, people spent only on what they could afford but, today, many spend money that they do not have. Young adults need to be responsible using credit cards. Buy only what is necessary.
Pride is the reason why people buy things they do not need. They just want to impress people they do not know. It would be wise to earn before you spend, and not spend before you earn.
Credit cards should not be made available to everyone and the minimum wage to own a credit card should be raised. Individuals should not have more than one credit card.
Many young couples spend lavishly on weddings and honeymoons, which make them debtors at the beginning of their marriage. Young people should be encouraged to use debit cards and not credit cards if they are not able to pay in full each month.
The young should be equipped with knowledge on how to handle money matters.

Article taken from The Star online
KOTA BARU: The business community should view the slump of ringgit against the US dollar as an opportunity to increase exports, said Minister in the Prime Minister’s Department Datuk Dr Wee Ka Siong.
He said the business world is full of ups and downs as well as good and bad times.
“For example, manufacturers of latex glove and condoms are holding well despite the depreciating ringgit because the raw materials like latex and rubber are sourced locally,” he told reporters after opening the Federated Teochew Associations of Malaysia annual general meeting here yesterday.
Dr Wee assured the business community that the Government would provide financial help to those impacted by the fall in ringgit.
“We do not know how long this slump will last, but innovative ones should have time to switch over to the export sector,” he said.
In Kuala Lumpur, Deputy Finance Minister Datuk Chua Tee Yong called on Malaysians to be prudent with their spending.
“One of the main problems faced by people now is the high cost of living and spending more than their means,” he said at a press conference after an official visit to Credit Counselling and Debt Management Agency (AKPK) yesterday.
According to AKPK’s data, 7.1% of people who have sought advice for debt problems between 2006 and July this year were affected by the high cost of living.
Chua, however, said the public did not have to totally forgo their wants such as travelling or buying branded items altogether.
“You can save a certain amount every month and when you have enough, buy the branded item or other things you want. Don’t spend first and then pay for it, as the interest element will be there,” he said.
Chua also urged the public to seek advice on financial management from agencies such as AKPK to avoid falling into debt, which could lead to bankruptcy.
“Many think that AKPK is the place to go only when they have financial crisis. But others, especially those who have just started working, can also seek advice on money management from them,” he said.
Article taken from The Star online
KOTA BARU: The business community should view the slump of ringgit against the US dollar as an opportunity to increase exports, said Minister in the Prime Minister’s Department Datuk Dr Wee Ka Siong.
He said the business world is full of ups and downs as well as good and bad times.
“For example, manufacturers of latex glove and condoms are holding well despite the depreciating ringgit because the raw materials like latex and rubber are sourced locally,” he told reporters after opening the Federated Teochew Associations of Malaysia annual general meeting here yesterday.
Dr Wee assured the business community that the Government would provide financial help to those impacted by the fall in ringgit.
“We do not know how long this slump will last, but innovative ones should have time to switch over to the export sector,” he said.
In Kuala Lumpur, Deputy Finance Minister Datuk Chua Tee Yong called on Malaysians to be prudent with their spending.
“One of the main problems faced by people now is the high cost of living and spending more than their means,” he said at a press conference after an official visit to Credit Counselling and Debt Management Agency (AKPK) yesterday.
According to AKPK’s data, 7.1% of people who have sought advice for debt problems between 2006 and July this year were affected by the high cost of living.
Chua, however, said the public did not have to totally forgo their wants such as travelling or buying branded items altogether.
“You can save a certain amount every month and when you have enough, buy the branded item or other things you want. Don’t spend first and then pay for it, as the interest element will be there,” he said.
Chua also urged the public to seek advice on financial management from agencies such as AKPK to avoid falling into debt, which could lead to bankruptcy.
“Many think that AKPK is the place to go only when they have financial crisis. But others, especially those who have just started working, can also seek advice on money management from them,” he said.
Ogo 19, 2015 | financialmanagement
Article taken from The Star online
KOTA BARU: The business community should view the slump of ringgit against the US dollar as an opportunity to increase exports, said Minister in the Prime Minister’s Department Datuk Dr Wee Ka Siong.
He said the business world is full of ups and downs as well as good and bad times.
“For example, manufacturers of latex glove and condoms are holding well despite the depreciating ringgit because the raw materials like latex and rubber are sourced locally,” he told reporters after opening the Federated Teochew Associations of Malaysia annual general meeting here yesterday.
Dr Wee assured the business community that the Government would provide financial help to those impacted by the fall in ringgit.
“We do not know how long this slump will last, but innovative ones should have time to switch over to the export sector,” he said.
In Kuala Lumpur, Deputy Finance Minister Datuk Chua Tee Yong called on Malaysians to be prudent with their spending.
“One of the main problems faced by people now is the high cost of living and spending more than their means,” he said at a press conference after an official visit to Credit Counselling and Debt Management Agency (AKPK) yesterday.
According to AKPK’s data, 7.1% of people who have sought advice for debt problems between 2006 and July this year were affected by the high cost of living.
Chua, however, said the public did not have to totally forgo their wants such as travelling or buying branded items altogether.
“You can save a certain amount every month and when you have enough, buy the branded item or other things you want. Don’t spend first and then pay for it, as the interest element will be there,” he said.
Chua also urged the public to seek advice on financial management from agencies such as AKPK to avoid falling into debt, which could lead to bankruptcy.
“Many think that AKPK is the place to go only when they have financial crisis. But others, especially those who have just started working, can also seek advice on money management from them,” he said.

Article taken from Utusan Malaysia
KUALA LUMPUR 17 Ogos - Permohonan untuk menyertai Program Pengurusan Kredit (PPK) oleh Agensi Kaunseling dan Pengurusan Kredit (AKPK) terus meningkat pada tahun ini iaitu sebanyak 135,042 orang berbanding 121,495 pada tahun lepas.
Timbalan Menteri Kewangan II, Datuk Chua Tee Yong berkata, peningkatan tersebut secara tidak langsung menunjukkan semakin ramai rakyat negara ini dibelenggu masalah pengurusan kewangan yang disumbang oleh pelbagai faktor.
“Peningkatan masalah pengurusan kewangan dalam kalangan masyarakat hari ini bukanlah satu petunjuk yang baik, malah perlu diatasi segera bagi mewujudkan rakyat bebas hutang.
“Terdapat pelbagai faktor kepada permasalahan ini termasuk tidak dapat membezakan antara kehendak dan keperluan selain kurang memahami kaedah pengiraan faedah yang menyebabkan banyak pihak terlibat dengan hutang yang tinggi,” katanya.
Beliau berkata demikian dalam sidang akhbar selepas mengadakan lawatan rasmi ke ibu pejabat AKPK sambil diiringi oleh Pengerusi AKPK, Datuk Mohd Hanif Sher Mohamed dan Ketua Pegawai Eksekutifnya, Azaddin Ngah Tasir, di sini hari ini.
Dalam pada itu Tee Yong memberitahu, sebanyak 8,321 kes berkaitan masalah pengurusan kewangan berjaya diselesaikan menerusi PPK dengan jumlah hutang yang dibayar bernilai RM345.6 juta melibatkan tempoh dari awal tahun ini sehingga 31 Julai lalu.
Ditanya mengenai kejatuhan nilai ringgit sekarang, Tee Yong menegaskan bahawa spekulasi yang disebarkan kepada rakyat bertujuan memburukkan imej negara.
Jelas beliau, kejatuhan nilai ringgit berbanding dolar Amerika Syarikat disebabkan pelbagai elemen termasuk perubahan harga minyak mentah dunia, kadar faedah antarabangsa yang semakin tinggi dan aktiviti eksport dunia.
“Orang ramai diminta jangan mudah terpengaruh dengan maklumat-maklumat yang tidak betul terutama dalam isu kejatuhan nilai ringgit,” ujarnya.
Article taken from Utusan Malaysia
KUALA LUMPUR 17 Ogos - Permohonan untuk menyertai Program Pengurusan Kredit (PPK) oleh Agensi Kaunseling dan Pengurusan Kredit (AKPK) terus meningkat pada tahun ini iaitu sebanyak 135,042 orang berbanding 121,495 pada tahun lepas.
Timbalan Menteri Kewangan II, Datuk Chua Tee Yong berkata, peningkatan tersebut secara tidak langsung menunjukkan semakin ramai rakyat negara ini dibelenggu masalah pengurusan kewangan yang disumbang oleh pelbagai faktor.
“Peningkatan masalah pengurusan kewangan dalam kalangan masyarakat hari ini bukanlah satu petunjuk yang baik, malah perlu diatasi segera bagi mewujudkan rakyat bebas hutang.
“Terdapat pelbagai faktor kepada permasalahan ini termasuk tidak dapat membezakan antara kehendak dan keperluan selain kurang memahami kaedah pengiraan faedah yang menyebabkan banyak pihak terlibat dengan hutang yang tinggi,” katanya.
Beliau berkata demikian dalam sidang akhbar selepas mengadakan lawatan rasmi ke ibu pejabat AKPK sambil diiringi oleh Pengerusi AKPK, Datuk Mohd Hanif Sher Mohamed dan Ketua Pegawai Eksekutifnya, Azaddin Ngah Tasir, di sini hari ini.
Dalam pada itu Tee Yong memberitahu, sebanyak 8,321 kes berkaitan masalah pengurusan kewangan berjaya diselesaikan menerusi PPK dengan jumlah hutang yang dibayar bernilai RM345.6 juta melibatkan tempoh dari awal tahun ini sehingga 31 Julai lalu.
Ditanya mengenai kejatuhan nilai ringgit sekarang, Tee Yong menegaskan bahawa spekulasi yang disebarkan kepada rakyat bertujuan memburukkan imej negara.
Jelas beliau, kejatuhan nilai ringgit berbanding dolar Amerika Syarikat disebabkan pelbagai elemen termasuk perubahan harga minyak mentah dunia, kadar faedah antarabangsa yang semakin tinggi dan aktiviti eksport dunia.
“Orang ramai diminta jangan mudah terpengaruh dengan maklumat-maklumat yang tidak betul terutama dalam isu kejatuhan nilai ringgit,” ujarnya.
Ogo 19, 2015 | financialmanagement
Article taken from Utusan Malaysia
KUALA LUMPUR 17 Ogos - Permohonan untuk menyertai Program Pengurusan Kredit (PPK) oleh Agensi Kaunseling dan Pengurusan Kredit (AKPK) terus meningkat pada tahun ini iaitu sebanyak 135,042 orang berbanding 121,495 pada tahun lepas.
Timbalan Menteri Kewangan II, Datuk Chua Tee Yong berkata, peningkatan tersebut secara tidak langsung menunjukkan semakin ramai rakyat negara ini dibelenggu masalah pengurusan kewangan yang disumbang oleh pelbagai faktor.
“Peningkatan masalah pengurusan kewangan dalam kalangan masyarakat hari ini bukanlah satu petunjuk yang baik, malah perlu diatasi segera bagi mewujudkan rakyat bebas hutang.
“Terdapat pelbagai faktor kepada permasalahan ini termasuk tidak dapat membezakan antara kehendak dan keperluan selain kurang memahami kaedah pengiraan faedah yang menyebabkan banyak pihak terlibat dengan hutang yang tinggi,” katanya.
Beliau berkata demikian dalam sidang akhbar selepas mengadakan lawatan rasmi ke ibu pejabat AKPK sambil diiringi oleh Pengerusi AKPK, Datuk Mohd Hanif Sher Mohamed dan Ketua Pegawai Eksekutifnya, Azaddin Ngah Tasir, di sini hari ini.
Dalam pada itu Tee Yong memberitahu, sebanyak 8,321 kes berkaitan masalah pengurusan kewangan berjaya diselesaikan menerusi PPK dengan jumlah hutang yang dibayar bernilai RM345.6 juta melibatkan tempoh dari awal tahun ini sehingga 31 Julai lalu.
Ditanya mengenai kejatuhan nilai ringgit sekarang, Tee Yong menegaskan bahawa spekulasi yang disebarkan kepada rakyat bertujuan memburukkan imej negara.
Jelas beliau, kejatuhan nilai ringgit berbanding dolar Amerika Syarikat disebabkan pelbagai elemen termasuk perubahan harga minyak mentah dunia, kadar faedah antarabangsa yang semakin tinggi dan aktiviti eksport dunia.
“Orang ramai diminta jangan mudah terpengaruh dengan maklumat-maklumat yang tidak betul terutama dalam isu kejatuhan nilai ringgit,” ujarnya.

Article taken from Bernama
KUALA LUMPUR, Aug 17 -- The Credit Counselling and Debt Management Agency (AKPK)settled nearly 6.2 per cent or 8,321 cases under its debt management programme (DMP) as of July this year.
Deputy Finance Minister Datuk Chua Tee Yong said with cases amounting to RM345.6 million settled, the government expects the success rate to continue improving.
"Some of the loans (in outstanding cases) are long term in nature, such as housing loans of 20 to 30 years.
"In time, they will settle their loans," Chua told a press conference after his visit to the AKPK office here Monday.
He said its since inception (in 2006) and up to July 31, 356,935 individuals had attended AKPK's counselling services and of this number, 135,042 of them had enrolled in the DMP.
"AKPK can also act as an intermediary or provide direct assistance to the borrowers in negotiating with the banks.
"More people should seek the AKPK's free services, and not fall victim to unscrupulous parties, who offer chargeable loan restructuring services," he added.
According to Chua, those in the 25-44 age group were those who normally had financial problems.
"Those who have just started working can also approach the AKPK for advice," he said.
AKPK'S Chief Executive Officer Azaddin Ngah Tasir said poor financial planning remained the top reason for defaults or debt problems.
"Poor financial planning was tops at 22.3 per cent as at end-July and 80 per cent of it was due to cases of mismanagement in credit card usage," he told the same conference.
Other reasons for the high default in servicing debts under the DMP were the failure or slowdown in business (16.7 per cent) and high medical costs (14.3 per cent).
Article taken from Bernama
KUALA LUMPUR, Aug 17 -- The Credit Counselling and Debt Management Agency (AKPK)settled nearly 6.2 per cent or 8,321 cases under its debt management programme (DMP) as of July this year.
Deputy Finance Minister Datuk Chua Tee Yong said with cases amounting to RM345.6 million settled, the government expects the success rate to continue improving.
"Some of the loans (in outstanding cases) are long term in nature, such as housing loans of 20 to 30 years.
"In time, they will settle their loans," Chua told a press conference after his visit to the AKPK office here Monday.
He said its since inception (in 2006) and up to July 31, 356,935 individuals had attended AKPK's counselling services and of this number, 135,042 of them had enrolled in the DMP.
"AKPK can also act as an intermediary or provide direct assistance to the borrowers in negotiating with the banks.
"More people should seek the AKPK's free services, and not fall victim to unscrupulous parties, who offer chargeable loan restructuring services," he added.
According to Chua, those in the 25-44 age group were those who normally had financial problems.
"Those who have just started working can also approach the AKPK for advice," he said.
AKPK'S Chief Executive Officer Azaddin Ngah Tasir said poor financial planning remained the top reason for defaults or debt problems.
"Poor financial planning was tops at 22.3 per cent as at end-July and 80 per cent of it was due to cases of mismanagement in credit card usage," he told the same conference.
Other reasons for the high default in servicing debts under the DMP were the failure or slowdown in business (16.7 per cent) and high medical costs (14.3 per cent).
Ogo 19, 2015 | financialmanagement
Article taken from Bernama
KUALA LUMPUR, Aug 17 -- The Credit Counselling and Debt Management Agency (AKPK)settled nearly 6.2 per cent or 8,321 cases under its debt management programme (DMP) as of July this year.
Deputy Finance Minister Datuk Chua Tee Yong said with cases amounting to RM345.6 million settled, the government expects the success rate to continue improving.
"Some of the loans (in outstanding cases) are long term in nature, such as housing loans of 20 to 30 years.
"In time, they will settle their loans," Chua told a press conference after his visit to the AKPK office here Monday.
He said its since inception (in 2006) and up to July 31, 356,935 individuals had attended AKPK's counselling services and of this number, 135,042 of them had enrolled in the DMP.
"AKPK can also act as an intermediary or provide direct assistance to the borrowers in negotiating with the banks.
"More people should seek the AKPK's free services, and not fall victim to unscrupulous parties, who offer chargeable loan restructuring services," he added.
According to Chua, those in the 25-44 age group were those who normally had financial problems.
"Those who have just started working can also approach the AKPK for advice," he said.
AKPK'S Chief Executive Officer Azaddin Ngah Tasir said poor financial planning remained the top reason for defaults or debt problems.
"Poor financial planning was tops at 22.3 per cent as at end-July and 80 per cent of it was due to cases of mismanagement in credit card usage," he told the same conference.
Other reasons for the high default in servicing debts under the DMP were the failure or slowdown in business (16.7 per cent) and high medical costs (14.3 per cent).

Article from Sinar Harian
IPOH – Orang ramai diingatkan supaya tidak terpedaya dengan tindakan segelintir pihak yang mengaku sebagai orang tengah kepada Agensi Kaunseling dan Pengurusan Kredit (AKPK) bagi menyelesaikan masalah hutang.
Ketua Pegawai Eksekutif AKPK, Azaddin Ngah Tasir berkata, pihak terbabit cuba ambil kesempatan dengan mengenakan bayaran pada kadar tertentu sedangkan AKPK menyediakan khidmat percuma.
Menurutnya, individu yang mahu mendapatkan khidmat agensi itu boleh berurusan di 11 cawangan dan pejabat kaunseling kredit di seluruh negara tanpa perlu menggunakan khidmat orang ketiga.
“Kami nasihatkan orang ramai bahawa semua perkhidmatan yang disediakan adalah secara percuma.
“AKPK tidak pernah melantik pihak ketiga untuk membawa individu bermasalah hutang datang ke agensi kita,” katanya dalam sidang media selepas merasmikan Jelajah Bijak Wang di Pusat Transformasi Bandar (UTC) Ipoh di sini, semalam.
Pada masa sama, katanya, kegagalan mengurus dan merancang kewangan peribadi antara punca utama seseorang itu terperangkap dengan masalah kewangan.
“Sejak penubuhan AKPK sembilan tahun lalu, lebih daripada 357,000 pelanggan mendapatkan khidmat kaunseling kewangan. Lebih 135,000 daripada mereka menyertai Program Pengurusan Kredit AKPK,” katanya.
Beliau berkata, orang ramai boleh mendapatkan khidmat nasihat kewangan dan mempelajari asas pengurusan kewangan secara bijak menerusi Jelajah Bijak Wang yang berlangsung hingga Disember 2015 di seluruh negara.
“Program ini direka untuk mendidik dan menanam amalan pengurusan kewangan berhemat. Ilmu pengurusan kewangan berhemat merupakan aset dan keperluan untuk individu berkerjaya atau bekerja sendiri.
Program Jelajah Bijak Wang akan berlangsung meliputi 14 negeri dan akan berakhir di wilayah Persekutuan Labuan pada 5 Disember 2015.
Article from Sinar Harian
IPOH – Orang ramai diingatkan supaya tidak terpedaya dengan tindakan segelintir pihak yang mengaku sebagai orang tengah kepada Agensi Kaunseling dan Pengurusan Kredit (AKPK) bagi menyelesaikan masalah hutang.
Ketua Pegawai Eksekutif AKPK, Azaddin Ngah Tasir berkata, pihak terbabit cuba ambil kesempatan dengan mengenakan bayaran pada kadar tertentu sedangkan AKPK menyediakan khidmat percuma.
Menurutnya, individu yang mahu mendapatkan khidmat agensi itu boleh berurusan di 11 cawangan dan pejabat kaunseling kredit di seluruh negara tanpa perlu menggunakan khidmat orang ketiga.
“Kami nasihatkan orang ramai bahawa semua perkhidmatan yang disediakan adalah secara percuma.
“AKPK tidak pernah melantik pihak ketiga untuk membawa individu bermasalah hutang datang ke agensi kita,” katanya dalam sidang media selepas merasmikan Jelajah Bijak Wang di Pusat Transformasi Bandar (UTC) Ipoh di sini, semalam.
Pada masa sama, katanya, kegagalan mengurus dan merancang kewangan peribadi antara punca utama seseorang itu terperangkap dengan masalah kewangan.
“Sejak penubuhan AKPK sembilan tahun lalu, lebih daripada 357,000 pelanggan mendapatkan khidmat kaunseling kewangan. Lebih 135,000 daripada mereka menyertai Program Pengurusan Kredit AKPK,” katanya.
Beliau berkata, orang ramai boleh mendapatkan khidmat nasihat kewangan dan mempelajari asas pengurusan kewangan secara bijak menerusi Jelajah Bijak Wang yang berlangsung hingga Disember 2015 di seluruh negara.
“Program ini direka untuk mendidik dan menanam amalan pengurusan kewangan berhemat. Ilmu pengurusan kewangan berhemat merupakan aset dan keperluan untuk individu berkerjaya atau bekerja sendiri.
Program Jelajah Bijak Wang akan berlangsung meliputi 14 negeri dan akan berakhir di wilayah Persekutuan Labuan pada 5 Disember 2015.
Ogo 26, 2015 | financialmanagement
Article from Sinar Harian
IPOH – Orang ramai diingatkan supaya tidak terpedaya dengan tindakan segelintir pihak yang mengaku sebagai orang tengah kepada Agensi Kaunseling dan Pengurusan Kredit (AKPK) bagi menyelesaikan masalah hutang.
Ketua Pegawai Eksekutif AKPK, Azaddin Ngah Tasir berkata, pihak terbabit cuba ambil kesempatan dengan mengenakan bayaran pada kadar tertentu sedangkan AKPK menyediakan khidmat percuma.
Menurutnya, individu yang mahu mendapatkan khidmat agensi itu boleh berurusan di 11 cawangan dan pejabat kaunseling kredit di seluruh negara tanpa perlu menggunakan khidmat orang ketiga.
“Kami nasihatkan orang ramai bahawa semua perkhidmatan yang disediakan adalah secara percuma.
“AKPK tidak pernah melantik pihak ketiga untuk membawa individu bermasalah hutang datang ke agensi kita,” katanya dalam sidang media selepas merasmikan Jelajah Bijak Wang di Pusat Transformasi Bandar (UTC) Ipoh di sini, semalam.
Pada masa sama, katanya, kegagalan mengurus dan merancang kewangan peribadi antara punca utama seseorang itu terperangkap dengan masalah kewangan.
“Sejak penubuhan AKPK sembilan tahun lalu, lebih daripada 357,000 pelanggan mendapatkan khidmat kaunseling kewangan. Lebih 135,000 daripada mereka menyertai Program Pengurusan Kredit AKPK,” katanya.
Beliau berkata, orang ramai boleh mendapatkan khidmat nasihat kewangan dan mempelajari asas pengurusan kewangan secara bijak menerusi Jelajah Bijak Wang yang berlangsung hingga Disember 2015 di seluruh negara.
“Program ini direka untuk mendidik dan menanam amalan pengurusan kewangan berhemat. Ilmu pengurusan kewangan berhemat merupakan aset dan keperluan untuk individu berkerjaya atau bekerja sendiri.
Program Jelajah Bijak Wang akan berlangsung meliputi 14 negeri dan akan berakhir di wilayah Persekutuan Labuan pada 5 Disember 2015.
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