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New Straits Times
11 hours ago
- New Straits Times
Retired teacher, senior citizen lose RM352,000 to scams
JOHOR BARU: Police are investigating two commercial crime crises that cost a retired teacher and a senior citizen more than RM352,000 in total losses. Johor Baru South police chief Assistant Commissioner Raub Selamat said the first case involved a 60-year-old retired teacher who lost RM243,975 in an investment scam advertised on social media. Lured by a promised 560 per cent return within three months, the victim joined a WhatsApp group and was instructed to download an application purportedly linked to the investment. Between April 28 and June 19, the victim made seven online and over-the-counter bank transfers totalling RM255,100 into two bank accounts. She received RM11,125 in returns, resulting in a net loss of nearly a quarter million ringgit. "Checks revealed 17 prior fraud reports linked to the bank accounts used," Raub said in a statement today. In the second case, a senior citizen lost RM108,959 after he received a phone call from a man claiming to be a bank officer. The caller claimed the victim's credit card had been misused on an e-commerce online platform and convinced him to perform several "verification" transactions, which included transferring RM8,989 from his wife's credit card to the suspect's TNG eWallet. He was also instructed to transfer RM99,970 via DuitNow from his bank account. Raub said the suspect became unreachable once the transactions were completed. Checks showed the phone number had been linked to two similar fraud cases. He urged the public to be wary of investment offers on digital platforms and not to trust promises of unrealistic returns. He also advised verifying suspicious calls through official bank channels and reporting scams immediately to the National Scam Response Centre at 997, which can help block suspect accounts and stop fund transfers.
Barnama
2 days ago
- Business
- Barnama
- Life After Debt: Both Sides Now
Opinions on topical issues from thought leaders, columnists and editors. She stood there – alone and hurt – in between two large stone curbs that have weathered under years of rain and sun. The smell of ashes was a constant reminder of what might have been. It was a quiet, serene, misty November morning. The air hung heavy, thick and clammy against her skin, the smell of damp earth rising from the ground. The gentle morning breeze whispered through leaves, rustling branches. A sliver of orange peeked over the horizon, stretching her shadow long and lonely across the turf, a silent witness to her solitude. Mei's downfall began innocently enough. 'It was small at first,' she recalls. 'A credit card to cover tuition fees. Another for a family vacation. Then another for unexpected medical bills.' At 42, Mei thought she had had it all: a stable job in sales, a comfortable suburban home, and a nest egg that she and her husband had painstakingly built over 15 years. But just five years later, Mei found herself standing in a credit advisory agency's crowded reception area – drowning in debt, stripped of her life savings, and desperate for a way out. Her story mirrors the lives of countless individuals drowning in credit card debt, trapped between the shimmering promises of financial freedom and the stark realities of repayment. 'It was a slow-motion collapse,' she says. 'We liquidated our savings trying to stay afloat. We even borrowed against our retirement funds. But it was like trying to empty a sinking boat with a teaspoon.' Over-indebtedness rarely begins with reckless spending. It creeps in through student loans, job loss, medical bills, rent increases, big weddings, divorce – the cracks of modern life into which credit seeps, offering short-term relief and long-term strain. Mei juggled six credit cards, all near their limits. Each new card seemed like a lifeline – until the lifelines tangled into a noose. When she had her first credit card, it symbolised aspiration and whispered of freedom – the ability to dine out, travel, and smooth over life's uneven patches. But for many, especially in the age of rising living costs and stagnant wages, credit has become less of a tool and more of a trap. Financial advice went unheeded Looking back, Mei admits she didn't always appreciate her parents' financial advice – a regret that now lingers with the wisdom of hindsight. They were her first – and only – financial teachers. Formal lessons were rare; instead, guidance came wrapped in stern advice and quiet sacrifices. Mei is far from alone. Recent financial data reveals that the average credit card debt per borrower in many developing nations has reached record highs. In 2022, two-third of Malaysian consumers own a credit card with an average outstanding credit card balance of RM11,955 per person. Multiple cards, each with revolving balances and high interest rates, are common. The temptation of minimum payments – low enough to seem manageable – conceals the truth: interest compounds, balances balloon, and before long, debt becomes a permanent resident. In the beginning, credit appeared teeming with possibility – like a cloud heavy with promised rain. Banks, too, presented credit cards as gateways to empowerment. Sign-up bonuses, loyalty points, reward programmes, cashback offers, and sleek metal designs all played into a narrative of control and status. But just as clouds can obscure and rain can flood, the hidden costs of this financial instrument often emerge only after the shine has dulled. As the interest accumulates, many are left facing both sides of their financial decisions – the bright beginnings and the grim aftermath. The psychological toll is immense. Shame, anxiety, and depression are common companions of those deep in debt. Many avoid answering unknown numbers, fearing it's another collector. Relationships strain. Sleep becomes elusive. 'It changes how you see yourself,' Mei recalls. It was a shame that kept her from reaching out for help sooner. The stigma of debt There's a stigma around debt,' she says. 'You feel like a failure. Like you should've been stronger.' Solutions exist, but they require courage and support. Credit advisory, debt consolidation plans, financial literacy programmes, and regulatory reform can offer lifelines. Yet, the stigma of debt often silences those who need help most. It was the ceaseless bank notices that finally drove her to Agensi Kaunseling dan Pengurusan Kredit (AKPK). Within days, Mei was sitting across from a counsellor, Akhdan, who listened patiently as she detailed her financial freefall. Akhdan's message was simple but powerful: There is a way back. He recommended a Debt Management Programme (DMP) – a structured repayment plan that consolidates into a single monthly payment, often with reduced or waived interest rates. Creditors agree to the plan, allowing clients to pay down principal balances in an organised, realistic timeframe. 'It wasn't until I spoke to a counsellor that I could breathe again,' Mei admits. 'I thought I'd be judged. But Akhdan just listened.' For Mei, the DMP meant commitment: RM4,000 a month for 60 months – five full years. 'At first, it sounded impossible,' she says. 'No vacations. No luxury goods. No new gadgets. No big nights out. I had to completely rethink what was 'normal' for me.' Mei and her husband adopted a frugal lifestyle: cooking at home, selling a second car, and slashing every unnecessary expense. They even took part-time gigs on weekends to boost their income. But there were emotional hurdles, too. 'Debt isn't just about numbers. It's about fear, guilt, regret,' Mei admits. Advisory sessions at AKPK helped her confront the psychological toll of her financial struggle, rebuilding not just her bank account, but her confidence. Light at the end of the tunnel Progress was slow but steady. Each month, a little more of the mountain crumbled away. Halfway through the DMP, she began seeing the light at the end of the tunnel. 'It was transformative,' Mei says. 'The discipline I learned didn't just fix my finances – it changed how I approach life.' In April 2023, Mei made her final payment. Today, Mei is proudly debt-free. She has rebuilt a modest emergency fund, contributes regularly to retirement savings, and uses just one credit card – which she pays in full every month. 'My husband and I live differently now,' Mei reflects. 'We appreciate simplicity. We understand the value of patience. And we know that asking for help isn't weakness – it's wisdom.' Mei often shares her story with others struggling with debt, volunteering through AKPK's Sahabat Kewangan, a community initiative aimed at gathering feedback for better financial habits. Mei's message is clear: 'You can fall hard. But you can also rise. It starts with one brave decision: to ask for help.' To look at credit from both sides now is to acknowledge its duality — its power to both help and harm. It's to recognise that behind every maxed-out card is a person trying to survive, to provide, to keep up appearances, or simply to hold on. As a society, perhaps it's time we see credit for what it is – not an illusion, but a responsibility, one that must be wielded with care and compassion. Only then can we begin to help those lost in the fog find their way back to clearer skies. Life after debt Is there life after debt? Mei's financial rebirth proves that there is. She stood there in between two slabs of stone, etched with delicate characters. Ash from burnt paper fluttered in the breeze. The air was heavy with the sweet smoke of incense, rising in slow spiral, a constant reminder of her eroding financial health. Her gaze lifted; a question etched on her face. She tried to find solace in the beauty of the sky as the song played in her head. 'I've looked at clouds from both sides now… from up and down and still somehow, it's cloud illusions I recall…' croons Joni Mitchell in her haunting ballad – a song about disillusionment, hindsight, and the slow unwinding of dreams. Like the clouds in Mitchell's song, credit once seemed full of promise, but like clouds hiding the sun, the hidden costs of credit cards often reveal once the initial shine fades. Mei looks at life from both sides now. From give and take. From win and lose. From good and bad. From right and wrong. From ups and downs. From win and lose. Something's lost but something's gained. -- BERNAMA This article was contributed by the Corporate Communications Department of Agensi Kaunseling dan Pengurusan Kredit (AKPK).
Borneo Post
3 days ago
- Business
- Borneo Post
Bina Puri eyes first profit since 2019, pins hopes on Sarawak jobs
Bina Puri says it has since focused its efforts on completing these loss-making jobs to ease the burden on future profits. KUCHING (June 19): Bina Puri Holdings Berhad (Bina Puri) is banking on a string of infrastructure jobs in Sarawak to stage its first financial turnaround since 2019. According to TA Securities Bhd (TA Securities) in a note, the pandemic and movement control orders had severely impacted the company's operations especially legacy low-margin infrastructure and building contracts, of which many were forced to halt. Management said it has since focused its efforts on completing these loss-making jobs to ease the burden on future profits. To note, the company posted core losses of RM95 million and RM11 million in FY23 and FY24 respectively. For the first nine months of FY25, its core loss narrowed to just RM38,000. According to management, the company did not secure any new local contracts between 2019 and late 2022. That changed after Chai Chan Tong joined the company in December 2022, acquiring a 20.4 per cent stake and injecting RM14.8 million in fresh capital. He later raised his stake to 23.7 per cent by subscribing to rights shares in April 2023 and took full control of the board following his redesignation as managing director in October 2023. Under Chai, turnaround momentum picked up, with the company securing two road projects in Sarawak in 2023, in Dalat and Samarahan with a combined value of RM176.5 million. In November 2024, it won another Sarawak contract worth RM113.3 million involving water pipeline construction, civil, and structural works. 'From these job wins, it is suffice to say that the company is a strong contender in Sarawak, especially on those small public infrastructure jobs like road, bridge and waterpipe project valued at less than RM200 million,' said TA Securities. The house added that the company is optimistic about securing RM500 million worth of new contracts each year on the back of Chai's strong network and experience in the state. Management guided that competition for sub-contract works in Sarawak remains mild that allows the company to maintain its operating margin at a reasonable five per cent. 'Currently, the company is actively negotiating and tendering for new jobs worth RM3.8 billion in Sarawak,' added the house. As of the first quarter of FY25, Bina Puri's outstanding order book stood at RM551 million with nearly RM230 million of that secured under the current management. These newer jobs are expected to carry higher margins compared to the RM325 million backlog from before Chai's leadership. Importantly, the completion of several unprofitable projects such as the Malaysian Embassy in Moscow, a dual-lane road in Southern Iraq, and the near-completion of the Nepal Supreme Court building, is expected to ease pressure on the company's earnings. The Bangkok high-speed rail project, though far from completion, has already been sub-contracted on a fixed-sum basis to China Railway Engineering Corporation (CREC) thus reducing financial exposure. Looking ahead, TA Securities projects a turnaround in FY25 with a core profit of RM7.8 million. This is expected to grow by 69.2 per cent to RM13.2 million in FY26 and by 11.4 per cent to RM14.7 million in FY27. All told, FY25 is seen as a critical year for Bina Puri's new management to prove its ability to complete legacy projects while securing new, higher-margin jobs especially in Sarawak to support long-term prospect. It also advises risk-averse investors to adopt a wait-and-see approach as the company transitions under its new leadership. Bina Puri construction corporate news
The Star
3 days ago
- The Star
Held over fake work passes
Fraud mill: Several items were seized including 13 fake immigration stickers, including for Bangladesh, India, the United States, Indonesia and Pakistan, as well as a biometric passport front label for Bangladesh. Civil servants nabbed in raids targeting Klang Valley syndicate KUALA LUMPUR: Two civil servants were among three individuals detained in connection with selling fake e-temporary work permits for foreign workers (PLKS) following several raids in the Klang Valley. Immigration director-general Datuk Zakaria Shaaban said the syndicate is believed to have charged RM11,000 per person and has been operating since late last year. It is learnt that the syndicate's modus operandi involved offering PLKS services to undocumented foreigners residing in the Klang Valley, he said. 'Investigations found that the details on the e-PLKS did not exist in the official immigration system. 'We carried out the raid in Maluri, Kuala Lumpur and Petaling Jaya on Monday following two weeks of surveillance and intelligence gathering,' he said yesterday. Zakaria said the department's enforcement team detained two local women and a man aged between 40 and 43 suspected to be involved in the syndicate's operations. 'Initial investigations revealed that one of the women and the man are civil servants.' A total of 101 passports from multiple countries (74 Sri Lankan passports, 13 from Myanmar, six from Vietnam, two from Indonesia, two from Ghana, and one each from India, Pakistan, Bangladesh and Syria) were seized during the special operation, he added. The desktop computer, laptop and printer reportedly used in the process of making fake visas. 'My officers also seized two mobile phones, a copy of a Companies Commission of Malaysia registration document and a luxury vehicle believed to have been used by the syndicate.' Zakaria said two other individuals have been issued notices to assist in the investigation. In a separate operation, a Pakistani man, believed to be the mastermind behind a fake visa syndicate, was nabbed following raids at two locations along Jalan Ipoh on the same day. Zakaria said during the raids, which began at 11am on June 16, officers inspected premises where a man and two women, all locals, were found conducting transactions. 'A Pakistani man, believed to be the syndicate's mastermind, was also detained at the scene. 'Initial checks revealed that the foreign suspect did not possess any valid travel documents or permit to be in the country.' Several items were seized including 13 fake immigration stickers, including for Bangladesh, India, the United States, Indonesia and Pakistan, as well as a biometric passport front label for Bangladesh, he said. 'We also seized a desktop computer, laptop and printer used in the forgery process,' he added. Zakaria said investigations revealed that the syndicate was producing and selling counterfeit immigration stickers to undocumented migrants residing in Malaysia. 'These fake visas were sold at prices ranging between RM100 and RM120 each, depending on the country of origin,' he said.
New Straits Times
4 days ago
- New Straits Times
Civil servants nabbed in Klang Valley fake work pass syndicate
KUALA LUMPUR: Two civil servants are among several people arrested following an Immigration Department bust on a syndicate involved in producing counterfeit stickers and Temporary Employment Visit Passes (ePLKS) in separate raids across the Klang Valley. The pair — a man and a woman — are believed to be key operatives in the syndicate, which charged foreign nationals up to RM11,000 each for the illegal service. Immigration Department director-general Datuk Zakaria Shaaban said the first raid, conducted at 11am on Sunday, targeted two premises along Jalan Ipoh. The operation was carried out by officers from the Intelligence and Special Operations Division based at Immigration headquarters in Putrajaya. "Acting on complaints and two weeks of surveillance, the team moved in and inspected the premises, where they found one man and two local women conducting transactions," he said in a statement today. Among those detained was a Pakistani man, believed to be the syndicate's ringleader. Initial checks revealed he did not possess valid travel documents or a permit to remain in the country. The team also seized 13 forged stickers, including six purportedly for Bangladesh visas, two for the United States, and one each for Indonesia and Pakistan. Also confiscated were a biometric passport sticker for Bangladesh, a desktop computer, a laptop, and a printer. Zakaria said the syndicate's modus operandi involved editing and printing fake immigration stickers, which were sold to undocumented migrants for between RM100 and RM120 each, depending on the destination country listed. "All foreign nationals arrested have been sent to the Putrajaya Immigration Depot for further action under the Immigration Act 1959/63, the Passport Act 1966, and the Immigration Regulations 1963. "One local man and one woman were issued notices to assist with the investigation," he said. Later the same day, at 6.42pm, the department mounted a second special operation at two separate locations — in Maluri, Kuala Lumpur, and Petaling Jaya, Selangor. "Based on public tip-offs and two weeks of intelligence, the operation team was deployed and successfully arrested two local women believed to be the main masterminds, along with one local man. "Preliminary investigations revealed that the women and the man arrested are civil servants, all aged between 40 and 43," he said. The team also seized 101 passports from various countries — including 74 from Sri Lanka, 13 from Myanmar, six from Vietnam, two each from Indonesia and Ghana, and one each from India, Pakistan, Bangladesh and Syria. Two mobile phones and a Companies Commission of Malaysia (SSM) registration certificate were also confiscated. Additionally, a Toyota Vellfire believed to have been used by the syndicate was impounded. Zakaria said the group specialised in processing ePLKS applications for foreign nationals without valid permits in the Klang Valley. "Initial checks showed that the information on the ePLKS documents had been tampered with and did not exist in the Immigration system. Each migrant was charged RM11,000. We believe the syndicate has been operating since late 2024," he said. All local suspects are being investigated under Section 12(1)(f) of the Passport Act 1966 and have been taken to Immigration headquarters in Putrajaya for further questioning.
