Agensi Kaunseling Dan Pengurusan Kredit
(729811-P)
Level 8.2-8.9, Maju Junction Mall
1001 Jalan Sultan Ismail
50250 Kuala Lumpur
www.akpk.org.my
Toll free: 1800-88-2575
International and Invitational Symposium on Credit and Counselling
Report by AKPK, Malaysia
1.
AKPK is a wholly owned subsidiary of the Central Bank of Malaysia (Bank Negara
Malaysia) and is fully funded by Bank Negara Malaysia.
2.
AKPK promotes financial wellness by empowering Malaysians to be financially savvy
through financial education, credit counselling and debt management programmes.
3.
AKPK assists retail consumers in rescheduling or restructuring their housing loans, hire
purchase loans and personal loans from, or outstanding credit/charge card balances
due to, financial service providers under the purview of Bank Negara Malaysia.
4.
Since its establishment in April 2006, AKPK has made significant progress, especially
after it has expanded its outreach through its Head office in Kuala Lumpur and 10
branches, and on a selected day each week, offer credit counselling and debt
management services from branch premises of financial institutions in 8 towns.
5.
AKPK’s debt management programme (DMP) assists borrowers to work out budgets
that will help them meet their loan obligations and living expenses, thereby minimising
non-performing loans and foreclosure of houses.
6.
Up to 30 June 2012,190,521individuals have attended our counselling services and
from that, 77,994customers have been enrolled into the DMP.
7.
Consumers who approached AKPK for assistance are from all walks of life. In most
cases, the factors contributing to their over-indebtedness and inability to repay their
debts include poor financial planning, ignorance and lack of financial discipline to live
within their means. Financial difficulties could also be triggered by unanticipated or
change in circumstances such as health problems, death of a breadwinner, loss of
employment and business failure.
8.
By promoting awareness and educating the public on how to manage their debts
effectively, as well as providing counselling and a specially tailored DMP to cater to
financially burdened individuals, AKPK hopes to help curb the financial-related issues
faced by Malaysian households today.
9.
The number of counselling and DMP cases is as follows Type of
Cases
YTD
Cumulative
2006-2008
2009
2010
2011
73,604
36,848
30,010
31,710
18,349
190,521
21,160
16,184
15,603
16,910
8,137
77,994
(29%)
(44%)
(52%)
(53%)
(44%)
(41%)
Counselling
DMP
1H 2012
10.
The percentage breakdown of DMP customers by the type of credit facilities are:
11.
DMP customers’ main reasons for default are as follows:
Reasons for Default
Poor financial planning
June 2012
%
24
High medical expenses
23
Failure/ Slowdown in business
15
Lost control on use of credit cards
Others
13
Lost job/ Retrenched
10
Death &/or loss of Breadwinner
2
Failed investment
1
12
12.
The breakdown of DMP customers by nature of employment is as follows:
13. As at end of June 2012, a total of 2,029 DMP customers have successfully exited from the
programme after having settled a total of RM65.06 million.