Over 80pc of Malaysians took up option to defer loan payments, AKPK poll finds

Nirmala said the AKPK survey also found that financial stress level had increased by 35 per cent among those working during the recent movement control order period. ― Picture by Sayuti Zainudin

KUALA LUMPUR, July 3 — According to an online poll conducted by the Credit Counselling and Debt Management Agency (AKPK), 88 per cent or 1,648 of 1,873 respondents, opted for the deferment of financial repayments under the moratorium introduced by Bank Negara.

AKPK Financial Education Department, Module Development Unit head, Nirmala Supramaniam said a survey on 788 respondents who took up the moratorium found that 48 per cent or 378 of them wanted to build an emergency fund.

“Some took up the moratorium to spend the money on daily essentials and they accounted for 21 per cent or 165 of the respondents; for investment purposes 16 per cent (126), for further borrowings 11 per cent (87) and four per cent (32) had no plans.

"However, the result of the polls does not reflect the actual overall situation as it was a random polls conducted online through AKPK Faceboook and AKPK microsite, #askAKP from April to May," she told Bernama after appearing as guest on the Ruang Bicara talk show programme on Bernama TV last night.

Meanwhile, Nirmala said the AKPK  survey also found that financial stress level had increased by 35 per cent among those working during the recent movement control order (MCO) period.

She said this occurred because the MCO and the Covid-19 pandemic were unprecedented and many were unprepared in terms of having emergency savings. — Bernama

from Malay Mail - Malaysia https://ift.tt/2VGb8FM
via IFTTT