Increased debts if EPF used for bank loans

KUCHING: The proposal to use Employee Provident Fund (EPF) Account 2 as collateral for personal bank loans has come under fire from an economist, warning that it could exacerbate Malaysia’s already high levels of household debt. Speaking out against it, Carmelo Ferlito warned that such a move could lead to increased household debt and undermine […]

Automatic moratorium on loans a welcome relief

KUCHING: The public have welcomed the six-month automatic moratorium on bank loans for individual borrowers, including those in the B40, M40, and T20 groups, as well as small and medium enterprises (SMEs) and micro-entrepreneurs. Prime Minister, Tan Sri Muhyiddin Yassin, announced the moratorium on June 28 as part of the National People’s Wellbeing and Economic […]

PCS fuel station in Mukah to materialise soon

MUKAH: A proposal to set up a portable container system (PCS) fuel station here by local cooperative ‘Koperasi Desa Lestari Kampung Tellian Tengah dan Ulu Mukah’ (Kodelt) will materialise soon after it has secured a bank loan. Its secretary Jetzson Jacob Lema Nawis said Kodelt had obtained a loan amounting to RM300,000 from Bank Rakyat. […]