TAWAU: Consumers have been advised to manage their finances wisely and avoid borrowing from illegal money lenders or ‘ah long’ and investing in ‘get rich quick’ schemes.
: Datuk Bobbey cutting the ribbon to officiate the launching, witnessed by Prof Dato Dr Mohd Ali.
Deputy Chief Minister Datuk Seri Panglima Haji Yahya Hussin said money lenders and ‘get rich quick’ schemes are the most critical consumerism issues nowadays.
The MCA Complaints and Public Service Department had reported that from January to September this year, there were 202 money lending cases involving RM20.4 million in loans, he said in a speech delivered by Assistant Agricultural and Food Industry Minister Datuk Bobbey A. Suan at a seminar on Consumerism in Cooperative held at the Marco Polo Hotel here yesterday.
Besides understanding consumer rights, they should keep abreast of current issues related to consumerism via the Internet, such as the ‘scratch and win’ contest, ah long, and the safety of cosmetic products, among others.
“There have been irresponsible people offering various investment schemes to earn more money with empty promises. Cooperative members are advised to be more careful and not to be easily cheated,” Yahya said.
Those facing such problems should report to the authorities such as the Malaysian Cooperative Commissioner, the Malaysian Companies Commissioner and the National Bank immediately, he said.
According to him, e-commerce has become an important online business nowadays and hoped consumers would equip themselves with knowledge and skills to avoid making wrong decisions.
Yahya believed the cooperative would be able to produce more quality products and services from time to time and where the National Cooperative Movement (Angkasa) would ensure and encourage the cooperative to produce more safe and attractive products to the consumers.
Two-hundred participants participated in the seminar here yesterday.
Also present was Angkasa president Prof Dato Dr Mohd Ali Haji Baharum.