Kedah AKPK restructures over RM400 mln in bank loans last year
ALOR SETAR: The Kedah Credit Counselling and Debt Management Agency (AKPK) has restructured bank loans totalling RM411 million throughout 2024.
Head of Alor Setar AKPK, Mohd Faizal Mohd Salleh, stated that the loan restructuring through the Credit Management Programme involved 7,668 bank financing facilities.
'This initiative offers a respite for many people to regain control of their finances in a more organised and realistic manner, offering repayment plans that suit their means.
'These numbers are not just statistics but reflect AKPK's efforts in providing effective assistance to those in need of financial support,' he said in a statement today.
According to him, the credit restructuring statistics in AKPK Kedah for 2024 show that credit cards are the largest contributor to debt issues, accounting for 43 per cent, followed by personal loans at 38 per cent.
Mohd Faizal said the restructuring of housing financing was seven per cent, while vehicle financing was five per cent.
He emphasised that early intervention is crucial, especially for debtors under the age of 45, who make up the highest percentage of AKPK clients—64 per cent or 4,885 cases, totalling RM269 million.
'At this stage of life, they are building their families as part of the sandwich generation (simultaneously caring for ageing parents and raising their children), and it is essential to prepare early for retirement.
'Beyond just avoiding bankruptcy and asset repossession, Alor Setar AKPK focuses on restoring the quality of life affected by debts,' he said.
He also urged the public not to let themselves remain trapped in financial difficulties but to seek solutions and work toward recovery with the agency's help.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
20 hours ago
- The Sun
M'sian woman torn over leaving boyfriend earning RM3k buried in debt
A Malaysian woman has sparked debate online after anonymously confessing her dilemma about whether to end a relationship with her boyfriend, who is struggling with severe debt. In a post on X by @meinmokhtar, the 30-year-old woman submitted an anonymous confession in which she revealed that her boyfriend's monthly loan repayments exceed his salary of only RM3,000. 'Would I be a bad person if I left my boyfriend who has been blacklisted by the bank? Before we started dating, he told me he owned two houses, and after three months, he revealed that his monthly loan repayments are higher than his salary. His name is also listed with the Credit Counselling and Debt Management Agency (AKPK),' she wrote. She also disclosed that she earns a monthly salary of RM15,000. Her anonymous confession has drawn mixed reactions from netizens — some sympathising with her concerns, others questioning the role of financial transparency in relationships. One user speculated that the boyfriend may be dating her in the hopes that she will eventually help pay off his loans, and urged her to leave him. 'I sometimes wonder if people ever properly discuss their financial plans before getting into a relationship. Being transparent about your finances is just as important,' one netizen commented. 'You should leave him before the relationship becomes too serious. If you marry him, you might end up paying most of the bills simply because you earn significantly more,' another advised.
Daily Express
2 days ago
- Daily Express
Labuan-KK airfare soars to RM1,207, surpassing flights to Seoul, Bangkok
Published on: Thursday, June 26, 2025 Published on: Thu, Jun 26, 2025 By: Bernama Text Size: For illustrative purposes only. LABUAN: Residents and frequent travellers from this duty-free island are voicing growing frustration over skyrocketing airfares for the short Labuan–Kota Kinabalu route, with prices now outpacing even international flights to destinations such as Bangkok and Seoul. For many in Labuan, air travel is not a luxury but a necessity, yet tickets for the roughly 35-minute domestic flight are being sold at rates as high as RM1,207 for a one-way trip on July 2. By comparison, longer international flights from Kota Kinabalu to Bangkok, which take about three hours, start at RM411, while flights to Seoul, a journey of over five hours, are priced from RM661. David Lee, 49, who frequently travels between the two locations for oil and gas business, told Bernama the fares were 'absurd' and 'unacceptable'. 'I was planning my usual trip to Kota Kinabalu for a meeting and was shocked to see fares exceeding RM1,200. How can a flight under one hour cost more than an international trip to Korea?' he said. Another traveller, Nurul Shafiqah Abdullah, 34, a government officer based in Labuan, said such fare hikes were putting a strain on those who rely on the route for essential reasons. 'This isn't a holiday route. It's a lifeline for many who depend on travelling for medical check-ups, work commitments or family matters. These prices are pushing people to the edge,' she said. For Raymond Chong, 41, who runs a logistics company, the limited choice of carriers only adds to the frustration. 'It's either MasWings or Malaysia Airlines, sometimes small planes, sometimes a Boeing. There's no real competition, so you either pay or don't go,' he said. Local entrepreneur Faridah Musa, 45, urged the federal government and aviation authorities to address the pricing mechanism, calling the issue more than just a travel inconvenience. 'We are an island with no road access. Flights are essential, not optional. At this point, it's not just an inconvenience, it's an economic disadvantage for us.' She said calls are mounting for transparency in fare structures and for greater efforts to introduce more airline competition to ensure affordable travel for the people of Labuan. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Borneo Post
2 days ago
- Borneo Post
Labuan-KK airfare soars to RM1,207, surpassing flights to Seoul, Bangkok
LABUAN (June 26): Residents and frequent travellers from this duty-free island are voicing growing frustration over skyrocketing airfares for the short Labuan–Kota Kinabalu route, with prices now outpacing even international flights to destinations such as Bangkok and Seoul. For many in Labuan, air travel is not a luxury but a necessity, yet tickets for the roughly 35-minute domestic flight are being sold at rates as high as RM1,207 for a one-way trip on July 2. By comparison, longer international flights from Kota Kinabalu to Bangkok, which take about three hours, start at RM411, while flights to Seoul, a journey of over five hours, are priced from RM661. David Lee, 49, who frequently travels between the two locations for oil and gas business, told Bernama the fares were 'absurd' and 'unacceptable'. 'I was planning my usual trip to Kota Kinabalu for a meeting and was shocked to see fares exceeding RM1,200. How can a flight under one hour cost more than an international trip to Korea?' he said. Another traveller, Nurul Shafiqah Abdullah, 34, a government officer based in Labuan, said such fare hikes were putting a strain on those who rely on the route for essential reasons. 'This isn't a holiday route. It's a lifeline for many who depend on travelling for medical check-ups, work commitments or family matters. These prices are pushing people to the edge,' she said. For Raymond Chong, 41, who runs a logistics company, the limited choice of carriers only adds to the frustration. 'It's either MasWings or Malaysia Airlines, sometimes small planes, sometimes a Boeing. There's no real competition, so you either pay or don't go,' he said. Local entrepreneur Faridah Musa, 45, urged the federal government and aviation authorities to address the pricing mechanism, calling the issue more than just a travel inconvenience. 'We are an island with no road access. Flights are essential, not optional. At this point, it's not just an inconvenience, it's an economic disadvantage for us.' She said calls are mounting for transparency in fare structures and for greater efforts to introduce more airline competition to ensure affordable travel for the people of Labuan. – Bernama
