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IMF releases US$7.5 bln loan for floundering Argentina

BUENOS AIRES: The International Monetary Fund (IMF) has released a loan tranche of US$7.5 billion for Argentina, in a deal that took four months to negotiate, reported dpa news agency. The IMF Executive Board announced the deal in Washington on Wednesday. “The IMF Executive Board completed today the fifth and sixth reviews of Argentina’s 30-month […]

AmBank approves RM130 million green financing for Arica

KUCHING: AmBank Group has given Persada Mentari Sdn Bhd (PMSB) a RM130 million loan for their development project called Arica @Andaman Island. According to the press release, this funding is considered “green financing” because it supports environmentally friendly initiatives. The CEO of AmBank Group, Datuk Sulaiman Mohd Tahir, expressed his satisfaction with supporting PMSB’s green […]

Over 100 lose RM1.15 million to scams since 2021

KUCHING: The district’s Commercial Crime Investigation Division (CCID) recorded a total of 131 cases of loan scams since 2021. Kuching OCPD ACP Ahsmon Bajah, in a statement, said the figure was recorded from 2021 until Feb 22 this year (2023). The losses incurred amounted to RM1,157,541.32. The modus operandi of non-existent loan scams is that […]

PTPTN loan for M40 (M1)group increased to 100%

KUALA LUMPUR: Prime Minister Datuk Seri Ismail Sabri Yaakob today announced that the National Higher Education Fund Corporation (PTPTN) loan for students in M40 (M1) group will be increased from 75 to 100 per cent. The government, he said, also agreed to provide loans for the purchase of laptops to PTPTN borrowers in the M40 […]

AmBank, Lazada to offer local MSEMs up to RM2 mln for business financing

KUALA LUMPUR: AmBank Group has partnered with Lazada, Southeast Asia’s pioneer e-commerce platform, to offer business financing of up to RM2 million to empower micro, small and medium enterprises (MSMEs) on Lazada Malaysia’s platform to grow and sustain their online businesses. AmBank’s Retail Banking managing director Aaron Loo said the collaboration is expected to assist […]

PTPTN always open to discussion with borrowers

CHANGLUN: The National Higher Education Fund Corporation (PTPTN) is always open and flexible to find solutions for its borrowers who are facing repayment difficulties. Its chairman Datuk Wan Saiful Wan Jan said borrowers should not be shy or embarrassed about discussing the problems with PTPTN. “Even without a moratorium offer, if borrowers facing difficulties (to […]

Other states should emulate Sarawak in helping students settle study loan

KUALA LUMPUR: The initiative taken by the Sarawak government to help students from the state to repay their loans with the National Higher Education Fund Corporation (PTPTN) should be emulated by other state governments. PTPTN, in a statement today, regarded the effort by the Sarawak government as appropriate at a time when the people are […]

Businessman loses RM20k in scam

SIBU: A businessman lost RM20,834.80 after being duped by a non-existent money lending company advertised on social media. District police chief ACP Stanley Jonathan Ringgit said on Aug 10, the 52-year-old victim came across a Facebook advertisement by the ‘company’ which offered loans. “The victim, who was interested in the offer, left his phone number […]

Tekun Nasional to be flexible

Loan repayment for flood victims TANAH MERAH: The National Entrepreneur Group Economic Fund (Tekun Nasional) will be flexible in loan repayment with its borrowers who were affected by floods. Its chairman Datuk Seri Mohammad Suparadi Md Noor said loanees involved in the natural disaster could apply for loan repayment postponement from the agency. “It is […]

Banks remain willing to lend to bankable entities

KUALA LUMPUR: Banks remain willing to lend to bankable households and businesses, and has approved roughly three out of four housing loan applications they received. In a box article titled “Banking on Banks: Are They Lending Enough?”, Bank Negara Malaysia (BNM) said in Jan-Sept 2019 (9M 2019) alone, banks approved housing loans worth RM119 billion […]