Elderly Struggle with Cashless Transactions Shift
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Digital literacy training, allowing money payments and adopting best practices of other countries could alleviate situation: Fomca
PETALING JAYA: As Malaysia moves forward with its digital-first future and the launch of the Cashless Boleh 5.0 campaign aimed at promoting a cash-free and cheque-free society, concerns are growing about the challenges such a shift is having on senior citizens.
The elderly make up 11.6% of the total population, which equates to 3.9 million individuals, many of whom have expressed frustration as they grapple with procedures in the digital landscape.
Noor Hanifah Azman, 69, said she had problems at a government health clinic, where she was required to use an e-wallet for payment.
“The staff there helped me, but it took so long. I felt guilty for holding everyone up.
The authorities should consider older people like me who are not used to modern financial systems.”
Subramaniam Suppiah, 65, also expressed frustration after a recent trip to an Immigration office to renew his passport.
“I was told the office only accepted debit or credit cards and QR payments. Since I am used to using cash, I was forced to return home to get my son’s debit card and go back the next day.
Read more: Elderly Struggle with Cashless Transactions Shift
COMMENT | Curbing healthcare insurance prices
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Jan 18, 2025 12:00 PM
SOTHI RACHAGAN is an emeritus professor who is a formerdean of the faculty of law of Universiti Malaya; vice-chancellor of Perdana University and Nilai University, and president of theInternational Association of Consumer Law. He serves onnumerous international consumer protection bodies.
COMMENT | Healthcare and insurance are essential services and should not be treated as ordinary businesses. This is particularly true for healthcare insurance. The announcement of healthcare insurance premiums increasing by 40-70 percent has understandably alarmed consumers.
In response, Bank Negara Malaysia (BNM) introduced a series of immediate measures to ensure continued access to healthcare insurance and address rising medical costs (Interim Measures to Assist Policyholders and Promote Continued Access to Suitable Medical and Health Insurance/Takaful Products, Dec 20, 2024).
These interim measures are a positive step forward. However, they lack provisions for transparency and accountability from insurers and the regulator, BNM. Transparency and accountability are critical to fostering consumer trust.
Key metrics for insurer performance
Several key metrics can help consumers evaluate insurerperformance and enable regulators to monitor the industry’s health.
> Claims ratio: The ratio of claims paid out to premiumsreceived.
> Loss ratio: The ratio of claims and adjustment expenses(including claim investigation and verification costs) topremiums received.
> Claims settlement ratio: The proportion of claims settledagainst total claims filed (both in number and value). Thisratio allows buyers to compare insurers and choose themost reliable provider.
> Expense ratio: The proportion of expenses incurred inacquiring, underwriting, and servicing premiums relativeto premiums earned, reflecting an insurer’s operationalefficiency before factoring in policy claims and investmentgains or losses.
Mekanisme beli minyak masak peket belum ‘tuntas’, kata timbalan menteri
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PETALING JAYA: Kerajaan komited memastikan barangan terkawal seperti minyak masak peket bersubsidi hanya dinikmati golongan layak, kata Timbalan Menteri Perdagangan Dalam Negeri dan Kos Sara Hidup Fuziah Salleh.
Sehubungan itu, Fuziah berkata Putrajaya kini giat merangka mekanisme khas penyaluran subsidi termasuk kaedah pembelian untuk golongan sasar bagi mengelakkan ketirisan sehingga ada warga asing serta peniaga dapat membelinya.
“Memang secara prinsip subsidi dalam bentuk minyak masak peket hanya boleh dinikmati rakyat Malaysia bukan warga asing selain kegunaan domestik bukan untuk premis perniagaan.
“Dari segi mekanisme (penyaluran subsidi termasuk pembelian minyak masak peket), belum tuntas (muktamad),” katanya kepada FMT.
Beliau mengulas gesaan Persatuan Pengguna Malaysia (Fomca) supaya kerajaan memperkenalkan segera mekanisme penyaluran subsidi minyak masak peket termasuk kaedah pembelian untuk golongan sasar bagi mengelakkan ketirisan.
Read more: Mekanisme beli minyak masak peket belum ‘tuntas’, kata timbalan menteri
Fomca calls for targeted subsidy mechanism for cooking oil
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PETALING JAYA: A consumer group has urged the government to introduce a mechanism for targeted cooking oil subsidies to curb leakage and ensure that the subsidies are only channelled towards the target groups.
The Federation of Malaysian Consumers Associations (Fomca) said reports of subsidy leakages through the misappropriation of cooking oil packets were becoming more common, and that immediate action was needed.
Fomca treasurer-general Nur Asyikin Aminuddin said the government must act quickly to prevent losing millions of ringgit due to subsidies that do not reach their target groups.
“The issue isn’t just about foreigners – even traders are purchasing subsidised cooking oil packets because the manner in which the cooking oil can be purchased is easily manipulated.
“On the other hand, those who are truly in need aren’t able to purchase the subsidised cooking oil,” she told FMT.
Read more: Fomca calls for targeted subsidy mechanism for cooking oil
Experts urge for quick, clear rollout of 5G and MyDigital ID
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PETALING JAYA: Experts are calling for a clear digital direction and quick implementation for the rollout of the dual 5G network and the MyDigital ID programme, saying that any delay is unacceptable if Malaysia were to position itself as the choice for leading industries and as Asean chairman. Malaysia, said Federation of Malaysian Consumers Associations (Fomca) vice-president Datuk Indrani Thuraisingham, must have the proper infrastructure to support such targets.
“Since we are championing artificial intelligence (AI) development, setting up more data centres and other related fields, it is fair for the relevant authorities as well as stakeholders to prepare the right infrastructure to support these initiatives.
“It is unacceptable to delay it further as it could have an impact on our country’s economy,” she said in an interview yesterday.
Malaysia has secured billions of ringgit in investment in the past year from global tech firms seeking to build critical infrastructure to cater to growing demand for their cloud and AI services.
The Star also reported that while the number of digital nomads in the country has doubled, Internet connectivity remains a major concern for them.Other countries such as China, pointed out Indrani, have even achieved a breakthrough in satellite-to-ground laser communications that could pave the way for sixth-generation wireless technology – or 6G – and other applications, including remote sensing with ultra-high resolution and next generation satellite positioning technology.
“They have gone beyond 5G and we need to keep up with them,” she said.
Read more: Experts urge for quick, clear rollout of 5G and MyDigital ID
Tip the scales in consumers’ favour
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PETALING JAYA: It’s a fairly common practice – you go to the supermarket and buy some chicken breast slices or salmon fillets, which are neatly packed on a plastic tray with cling wrap and an absorbent pad.
The label would state the weight and price.
Most buyers would not spare this much thought, but the weight of the fresh produce would likely include the packaging weight, which then impacts the final pricing.
The management of a grocery store, when contacted, stated that it is a “standard practice” in many stores to include the weight of the packaging to ensure product hygiene and secure packaging.
It also said the weight of the wrapping plastic is minimal and has no significant impact on the product’s total weight.
But for consumer groups, such a practice could impact trust and fairness, as consumers might end up being overcharged even though it would seem minimal for small purchases.
They call on retailers to display the precise weight of fresh produce, saying that there is a need for regulatory reforms to protect consumers from paying for non-edible packaging material.
Tarif elektrik: FOMCA kemuka 7 syor
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SHAH ALAM - Terdapat tujuh cadangan yang perlu diteliti dalam penyediaan jadual kadar tarif elektrik baharu menjelang Julai 2025 untuk memastikan rakyat tidak terbeban dengan sebarang perubahan.
Ketua Pegawai Eksekutif Persatuan-Persatuan Pengguna Malaysia (FOMCA), Saravanan Thambirajah berkata, perkara pertama, ia wajar dilakukan secara bersasar untuk melindungi golongan rentan.
“Jadual tarif baharu itu perlu ambil kira golongan rentan dan melindungi B40 serta M40 dan memberikan rebat khas atau kadar subsidi kepada golongan itu agar mereka tidak terjejas.
“Kedua, perkenal penggunaan tarif mengikut masa iaitu pengguna akan dikenakan kadar lebih rendah jika mereka guna tenaga pada waktu luar puncak manakala kadar lebih tinggi pada waktu puncak.
“Pendekatan ini akan menggalakkan penggunaan tenaga secara bijak, mengurangkan beban pada sistem grid dan memberi peluang kepada pengguna untuk menjimatkan kos,” katanya kepada Sinar Ahad.
Sebelum ini, dilaporkan 85 peratus pemegang akaun domestik iaitu sekitar 7.5 juta orang tidak akan terjejas dengan sebarang perubahan kadar tarif elektrik dan masih dilindungi kerajaan sehingga Jun 2025.
Smoking Ban At All Office Premises Must Be Strictly Enforced
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The Federation of Malaysian Consumers Associations (FOMCA) has expressed full support for the enforcement of the smoking ban in all workplace buildings under the Occupational Safety and Health Act 1994 (OSHA) through the 2010 Indoor Air Quality Code of Practice. This ban is also in line with the Public Health (Control of Smoking Products) Act 2024 (Act 853) and the Public Health (Declaration of No-Smoking Areas) Order 2024.
The Importance of the Ban
According to the Centers for Disease Control and Prevention (CDC) and the US Surgeon General, there is no safe level of exposure to secondhand smoke. Studies show:
- Secondhand smoke contains over 4,700 harmful chemicals, including 43 carcinogens.
- Prolonged exposure increases the risk of lung cancer, heart disease, and chronic respiratory issues.
- Children are more susceptible, with increased risks of respiratory infections, asthma attacks, and Sudden Infant Death Syndrome (SIDS).
- It is estimated that over 27,200 deaths in Malaysia annually are caused by tobacco.
The enforcement of this smoking ban in workplaces is crucial in improving indoor air quality, protecting workers’ health, and reducing healthcare costs associated with smoking-related diseases.
Read more: Smoking Ban At All Office Premises Must Be Strictly Enforced
‘Lay down the law to combat rising prices’
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PETALING JAYA: Robust enforcement against profiteering and cartel activities is critical in managing the cost of living, says the Federation of Malaysian Consumers Associations.
Chief executive officer Dr Saravanan Thambirajah said a centralised database is also necessary to monitor prices.
“This will enable more effective, data-driven policymaking and intervention.
“Enforcement against unfair practices is critical in managing the cost-of-living issue,” he said, adding that subsidies must be targeted at those who are deserving of them.
Saravanan said annual regular wage reviews would also ensure that the income of workers was aligned with inflation.
“The current minimum wage is inadequate to address the financial pressures faced by many Malaysians, particularly those in the lower and middle-income groups,” he added.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the labour market ecosystem has to be re-examined.
“If we look at the percentage of unionised workers, the ratio has been on the declining trend.
“In 1982, the ratio stood at 11.3% and it went down to 9.3% in 1992, progressively lower to 8.2% in 2002 and last year, the figure was merely 6.2%.
Banks urged to waive RM1 ATM withdrawal fee
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PETALING JAYA: The Federation of Malaysian Consumers Associations (Fomca) has called on banks to absorb the RM1 charge for each interbank withdrawal instead of forcing customers to pay, especially since they are making huge profits.
Financial reports for 2023 showed that among Malaysia’s top four banks by asset size, Maybank’s net profits grew by 17.5% to RM9.35 billion, CIMB’s rose by 28.3% to RM6.98 billion, Public Bank’s increased by 9% to RM6.6 billion and RHB Bank’s expanded by 4.8% to RM2.81 billion.
According to Bank Negara Malaysia’s (BNM) 2024 Payment Statistics: Payment Channels, Malaysians use ATMs twice a month on average.
Assuming that all transactions involve interbank cash withdrawals, each individual would be charged RM24 per year just because their bank’s ATM is not available near them. This does not take into account customers who use multiple banks.
Fomca CEO Saravanan Thambirajah said while the net profits of banks are a positive sign that the financial industry and economy are healthy, imposing the fee is unfair, especially when viewed from the perspective of vulnerable populations, even if it is just RM1 per transaction.
“A common concern is that the fee disproportionately affects low-income earners and rural folk, who rely on cash transactions and need to withdraw small amounts of money frequently.
“When their bank’s ATM is not available, they are forced to use the ATMs of other banks, incurring the RM1 fee each time.”
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