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Malaysians dream of being debt free, but not all debts are bad

Most Malaysians dream of being debt free... as soon as they can. However, not all debts are bad because certain types of debts give you the opportunity to acquire appreciating assets. However, some other types of debts (e.g. consumer debts) can be detrimental to your financial health. These debts need to be managed properly before they become a big financial liability which will take years to get out of, writes AMELIA HONG.

Govt guaranteed debts at RM172bil or 14.7% of GDP

THE Government has guaranteed debts totalling RM172bil as of last year.

Govt won't allow bankrupts to use EPF savings to settle credit card debts

KUALA LUMPUR: The Government has no plans to allow bankrupt Malaysians to withdraw their Employees Provident Funds (EPF) savings to settle credit card debts, Parliament was told Monday.

Moody’s: Malaysia able to service elevated debts

KUALA LUMPUR: Although Malaysia’s debt burden is elevated and has consistently been above median levels, it is able to service its debts, according to rating agency Moody’s Investors Service.

Agency helps 9,529 settle debts

GEORGE TOWN: A total of 9,529 Malaysians who sought assistance from the Credit Counselling and Debt Management Agency (AKPK) have settled their debts totalling RM396mil, said Deputy Finance Minister Datuk Chua Tee Yong.

Bulk of salary goes to repaying debts

PETALING JAYA: Civil servants spend more than half of their monthly salaries repaying debts, leaving them with limited financial buffers to weather shocks, according to a study by Bank Negara.

‘Nation’s debts first priority’

LONDON: Prime Minister Tun Dr Mahathir Mohamad has admitted that the government is short of money as it is saddled with debts of over RM1 trillion inherited from the previous government.

Vietnam's bad debts hit 4.58% of loans at end-July

HANOI: Bad debts accounted for 4.58% of total loans by Vietnamese banks at the end of July, an official newspaper reported.

HSBC Q1 profits jump to US$8.4b as bad debts drop

LONDON: HSBC said its first quarter profits almost doubled from a year ago to more than US$8bil (5bil pounds) as bad debts and costs fell, with Europe's biggest bank showing the benefit of a 3-year restructuring plan.

Felda begins asset sale to cut debts

KUALA LUMPUR: The Federal Land Development Authority (Felda), which is embroiled in allegations of mismanagement and mounting debts, has commenced the sales of non-strategic assets to accommodate its liabilities, says chairman Tan Sri Megat Zaharuddin Megat Mohd Nor.