Fomca: EPF members should think long term before withdrawing dividends
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KUALA LUMPUR: Employees Provident Fund members should think long term instead of withdrawing their dividends, said Federation of Malaysian Consumers Associations (Fomca) vice-president Datuk Indrani Thuraisingham.
She said members should focus on financial prudence, long-term security and policy safeguards.
She said although the ability to withdraw dividends from Account 3 provides short-term relief, it may reduce long-term retirement savings.
"With longer life expectancy and rising healthcare costs, withdrawing savings early could lead to financial struggles in old age.
"If necessary, prioritise essential expenses like medical needs, debt repayment (especially high-interest loans) and emergency situations.
"Avoid spending it on discretionary spending or non-essential purchases," she said when contacted.
She advised contributors who withdraw funds to reinvest in secure instruments, such as fixed deposits or low-risk funds, to maintain long-term financial security.
Read more: Fomca: EPF members should think long term before withdrawing dividends
Stricter food safety for kids urged
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PETALING JAYA: Quality control measures on food products, particularly those targeted at children, should be tightened, says the Federation of Malaysian Consumers Associations (Fomca).
Its chief operating officer Nur Asyikin Aminuddin said authorities must take stronger action to ensure product safety, especially for items with unclear origins or ingredients.
“The sale of products like gummy candies (pic), which are unclear in terms of origin and ingredients, raise concerns about user safety, particularly when there is insufficient information about the manufacturer and the materials used in the production of the product,” she said.
She added that stricter regulations should be implemented, similar to the bans imposed on hazardous toys such as crystal balls.
Nur Asyikin was referring to the ban on the sale of crystal balls (water jelly beads) under the Consumer Protection Act 1999, imposed due to their choking hazard and risk of intestinal blockage in children.
“Products that have not undergone thorough safety testing or do not meet certain standards pose risks to the consumers,” she said.
Nur Asyikin said there is a lack of awareness regarding the potential choking hazards of certain food products, particularly those designed for children.
“Concern for children’s safety should be prioritised, and these factors are crucial in ensuring that the product is safe for consumers, especially the most vulnerable ones,” she said.
She also called for stricter regulations on the sale of certain food products near schools.
Public health reforms, tougher insurance regulations take centre stage at PAC hearing
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Other matters raised during the session, held at the Parliament building today, included stricter regulation and oversight of the insurance sector.
Attended by 550 people, the session included organisations such as the Federation of Malaysian Consumers Association (Fomca), the Malaysian Pharmacists Society, the Malaysian Coalition on Ageing (MCOA), Together Against Cancer, and the Association of Financial Advisers (AFA).
Also present were members of the health and insurance sectors, academics, and private citizens.
Many participants, including several doctors and pharmacists, called for a greater focus on strengthening the country's public health system, particularly by expanding primary care services and upgrading ageing facilities, to reduce reliance on private healthcare.
Other proposals included the establishment of a National Health Insurance Insurance (NHI) scheme to offer competition to private offerings and more equitable coverage.
Insurance reforms were also widely advocated, including encouraging the reintroduction of takeover clauses, offering healthy living rebates, and ensuring comprehensive coverage for critical treatments.
Read more: Public health reforms, tougher insurance regulations take centre stage at PAC hearing
KKM perlu bertindak, kanak-kanak tak faham erti kualiti atau kandungan makanan ringan
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GEORGETOWN: Makanan ringan yang dijual kepada kanak-kanak termasuk berhampiran kawasan sekolah, perlu dipantau dari aspek kandungan dan keselamatannya.
Pegawai Pendidikan Persatuan Pengguna Pulau Pinang (CAP) dan aktivis, NV Subbarow, berkata makanan ringan berkenaan wajar mempunyai logo kelulusan Kementerian Kesihatan (KKM).
"Ini mengenai kesihatan kanak-kanak, sudah tiba masanya KKM mengambil tindakan.
"Tindakan harus diambil terhadap peniaga yang menjual makanan ringan di luar kawasan sekolah.
"KKM tidak boleh berdiam diri. Kanak-kanak ini tidak tahu apa-apa mengenai kualiti, kandungan, apa yang ada di dalam makanan dan sebagainya.
"Satu-satunya tarikan ialah warna dan gula atau kemanisan," katanya dalam kenyataan di sini, hari ini.
Read more: KKM perlu bertindak, kanak-kanak tak faham erti kualiti atau kandungan makanan ringan
Vegetable prices expected to increase ahead of Ramadan due to hot weather, high demand
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KUALA LUMPUR: Vegetables are among the essential goods at risk of price increases ahead of Ramadan early next month.
Kedah Consumer Association (Cake) president Yusrizal Yusoff said the price hike is due to ongoing hot weather, in addition to high demand during Ramadan.
"Other factors include limited supply, as well as rising transportation and labour costs. Furthermore, some parties may take advantage of the high demand by increasing their prices.
"The authorities need to take action against those who arbitrarily raise prices by enforcing the anti-profiteering act.
"Additionally, reintroducing price controls and price ceilings for essential goods for consumers during Ramadan would be helpful," he said, also predicting that wet goods like fish and chicken would also see a price increase.
Federation of Malaysian Consumer Associations (Fomca) deputy secretary-general Nur Asyikin Aminuddin, shared the same view, anticipating a rise in vegetable prices.
Read more: Vegetable prices expected to increase ahead of Ramadan due to hot weather, high demand
Utamakan isi rumah, hadkan penggunaan air bagi pusat data - FOMCA
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SHAH ALAM - Kerajaan digesa mengutamakan keperluan sumber air bersih bagi isi rumah dengan menetapkan had penggunaan air yang ketat bagi pusat data serta mewajibkan penggunaan teknologi penyejukan yang lebih cekap dalam penggunaan air.
Ketua Pegawai Eksekutif Gabungan Persatuan-Persatuan Pengguna Malaysia (FOMCA), Dr T Saravanan berkata, tanpa dasar pengurusan air yang berkesan, negara berisiko menghadapi tekanan air yang serius dalam masa terdekat.
Menurutnya, pada masa ini, penggunaan air per kapita di Malaysia adalah sebanyak 226 liter sehari, jauh melebihi had yang disyorkan oleh Pertubuhan Kesihatan Sedunia (WHO) iaitu 165 liter.
"Sebuah pusat data biasa dengan kapasiti 100 MW (megawatt) boleh menggunakan sekitar 4.2 juta liter air setiap hari, bersamaan dengan penggunaan harian sebuah bandar yang mempunyai 10,000 penduduk.
"Populasi Malaysia dijangka mencapai 40 juta menjelang tahun 2040. Seiring dengan pertumbuhan populasi,permintaan terhadap air bersih dan boleh diakses juga akan meningkat."
"Oleh itu, bekalan air domestik perlu diutamakan berbanding penggunaan industri demi memastikan kesihatan awam dan kualiti hidup yang terjamin,"katanya dalam kenyataan bersama Persatuan Pengguna Air dan Tenaga Malaysia (WECAM) pada Isnin.
Read more: Utamakan isi rumah, hadkan penggunaan air bagi pusat data - FOMCA
Choose certified greens, say advocates
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PETALING JAYA: Get vegetables from trusted sellers and be wary of stalls selling cheap greens that could be from illegal markets, says a consumer group.
Buyers should also look out for food safety labels like MyOrganic or GAP (Malaysian Good Agricultural Practices) certification as a way to ensure product safety, said Federation of Malaysian Consumers Associations (Fomca) chief executive officer Saravanan Thambirajah.
For consumers who are concerned about pesticide residue, he said washing vegetables thoroughly under running water, scrubbing with a brush or soaking them in a baking soda solution (at one teaspoon per litre of water) for 15 minutes can be of help.
“Peeling vegetables such as carrots and cucumbers can further reduce pesticide intake.
“Choose organic produce where possible as it is a safer alternative, since it involves minimal pesticide use,” he said in an interview yesterday.
Saravanan said the issue of illegal vegetable farms operated by foreign nationals is a growing concern.
Elderly, disabled face ‘roadblocks’ as public transport goes fully digital
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KUALA LUMPUR — Malaysia’s push for digitalisation in public transport was meant to enhance efficiency. Still, for many senior citizens and concession card holders, it has become a roadblock rather than a convenience.
With the removal of physical ticket counters by key service providers and the reliance on apps like KTMB (Keretapi Tanah Melayu Berhad) and BusOnlineTicket, elderly commuters—many from the B40 and M40 groups—are struggling to keep up.
Navigating complex registration processes and unfriendly digital interfaces has turned a simple task into a frustrating ordeal, especially for those unfamiliar with smartphones who face significant barriers in registering their information to access concession fares.
To make matters worse, these apps prevent family members or younger individuals from purchasing concession tickets on behalf of seniors, forcing them to wrestle with technology they may not fully understand.
Federation of Malaysian Consumers Associations (Fomca) chief executive officer T. Saravanan has criticised the current system for failing to consider vulnerable groups.
Read more: Elderly, disabled face ‘roadblocks’ as public transport goes fully digital
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.
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