Apex court orders Public Bank to pay RM90m to NFCorp
A three-member bench comprising Chief Judge of Malaya Hasnah Hashim, Chief Judge of Sabah and Sarawak Abdul Rahman Sebli and Federal Court judge Abu Bakar Jais awarded RM30 million each in equitable, exemplary and aggravated damages.
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Rakyat Post
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- Rakyat Post
30-Year-Old Malaysian With Less Than RM10K Savings: The Post That Got Everyone Talking
Subscribe to our FREE A Malaysian's social media post questioning whether 30-year-olds without RM10,000 in savings have 'something wrong' has created a massive online conversation that shows no signs of slowing down. The person claimed that 30-year-olds should have at least RM30,000 in savings, arguing that after years of working, those who can't even save RM10K 'definitely have something wrong with them.' This bold statement quickly divided the online community into two camps. Those who agreed with the original post made compelling arguments. They pointed out that someone earning RM5,000 monthly, who remains unmarried and lives with their parents, should reasonably be able to save RM10,000 by age 30. They also calculated that this would require averaging just RM2,000 in savings per year since graduation, which breaks down to approximately RM180 monthly. These supporters emphasised that emergency funds are essential for financial security. The Reality Check from Critics However, many Malaysians quickly shared their personal struggles that painted a very different picture. A 24-year-old confessed, 'Too many expenses, only RM20 left at month-end,' detailing monthly expenses that include utilities costing RM280, rent exceeding RM400, and food expenses around RM300. This young adult's situation resonated with countless others facing similar financial pressures. The discussion took on a more sobering tone when a 50-year-old admitted, 'Never had more than RM10K savings, but grateful Allah provides enough for my family.' This middle-aged perspective highlighted how even decades of working don't guarantee substantial savings for everyone. Real-World Financial Challenges As the conversation evolved, the public began sharing the genuine obstacles they face in building savings. Family obligations emerged as a major factor, with many explaining their responsibilities in caring for parents and supporting family members. The rising cost of living became another recurring theme, with people expressing frustration that 'everything is expensive, impossible to save.' Unexpected expenses, particularly medical bills and family emergencies, were also frequently mentioned as savings destroyers. Balanced Voices Emerge Fortunately, some provided more nuanced perspectives that helped balance the discussion. They reminded others that age 30 typically comes with additional commitments and responsibilities that younger people might not fully understand. These voices emphasised that caring for elderly parents shouldn't be viewed as 'problematic' but rather as prioritising family needs. Most importantly, they emphasised that individual circumstances vary significantly, rendering blanket financial judgments unfair and unrealistic. On the other hand, it is also worth noting that the person could have assets, investments, or other forms of wealth beyond liquid cash savings, which could easily explain why the immediate cash reserves appeared limited. READ MORE : Share your thoughts with us via TRP's . Get more stories like this to your inbox by signing up for our newsletter.
The Sun
a day ago
- The Sun
Former director, company fined RM15,000 for unpaid service tax in Melaka
MELAKA: A former director and his company were fined RM15,000 by the Ayer Keroh Sessions Court for failing to pay service tax and penalties amounting to RM139,755.25 between 2021 and 2023. Judge Haderiah Siri imposed the sentence after Ng Wen Hua, 31, and Go Lounge Sdn Bhd pleaded guilty to five charges. She also ordered a one-month jail term in default for each charge if they fail to settle the fine. According to the charges, Ng and the company failed to pay service tax within the stipulated period under Section 26(4) of the Service Tax Act 2018. The unpaid taxes ranged from RM19,000 to RM30,000, with penalties between RM3,000 and RM12,000. The offences occurred at the Royal Malaysian Customs Department, Wisma Kastam Negeri, Ayer Keroh, on multiple dates in 2022 and 2023. The charges were brought under Section 26(8) of the Service Tax Act 2018, read with Section 78(1)(a), which carries a maximum penalty of RM50,000, three years' imprisonment, or both. Prosecuting officer Mohammad Azhar Habib urged the court to impose a RM5,000 fine per charge, citing non-compliance and loss of government revenue. The accused, unrepresented, requested leniency as the business was no longer operational. - Bernama
Focus Malaysia
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MP13: Govt to curb abandoned housing projects with build-then-sell model
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