Posted by ZZjuniorinvestor86 > 2013-12-16 15:45 | Report Abuse

wowwww...... crazy... but maybe its true.. maybe its possible to touch 1.00 today

Posted by ZZjuniorinvestor86 > 2013-12-16 15:45 | Report Abuse

already 85

Posted by tkteoh80 > 2013-12-16 15:46 | Report Abuse

no, 0.945 limit up

Posted by Icon8888 > 2013-12-16 15:46 | Report Abuse

80

Posted by tkteoh80 > 2013-12-16 15:47 | Report Abuse

Oh no, my ithcy hand by in another 20000 units at RM0.80.....

Posted by tjhldg > 2013-12-16 15:48 | Report Abuse

everybody ............... huat aaar

Posted by Icon8888 > 2013-12-16 15:48 | Report Abuse

805 already. How ? Hold or sell ?

Posted by whizzkid125 > 2013-12-16 15:48 | Report Abuse

CAP: Islamic bank loans are a rip-off
Athi Shankar
| December 16, 2013

Islamic personal loans offered by banks are a rip-off because the profit rate is much higher than even moneylanders, said CAP president SM Mohamed Idris.

GEORGE TOWN: Consumers Association of Penang (CAP) president SM Mohamed Idris said Islamic personal loans offered by banks are the most exploitative and should not be condoned.

Idris slammed banks for profiteering from Islamic personal loans given to unwitting people, by implementing a flat-rate repayment and not using the capital balance reduction method.

He said CAP’s study said a bank’s profit rate for Islamic personal loans could be as high as 42% per annum.

“An Islamic loan can turn out to be more expensive than from a moneylender.

“Bank Negara should not condone this Ah Long-like profit rate,” Idris told newsmen in office here today.

Also present were CAP vice-president Mohideen Abdul Kader and research officer Saw Pick Won.

Idris said the interest for an Islamic personal loan could be advertised as 2% per month or 24% per annum.

He said this would be the same rate charged by pawn brokers and much higher than the interest rate of 12% per annum and 18 % per annum charged by licensed moneylenders for secured and unsecured loans respectively.

For a 24% rate per annum, Idris said the borrower was actually repaying higher interest between 36.8% and 41.8% per annum depending on the loan tenure.

CAP calls on Bank Negara to protect borrowers by enforcing the following steps:

• Direct banks to withdraw loans where the rate of profit or interest is unconscionable;

• All loans should be calculated on the reducing balance method; and

• All loans should only advertise the effective rate of profit or effective interest rate so as not to confuse borrowers and for easy comparison.

CAP will be submitting an official letter to Bank Negara.

Idris said the discrepancy in the different interest rates – one advertised and the other shown in the product disclosure – was common in hire-purchase and personal loans.

But, he said, profit or the interest amount paid by the borrower was still the same.

Irrespective of whether it is an Islamic or conventional personal loan, he said the 24% interest rate was actually 41.8% (one-year loan) and 36.8% (five-year loan) when the flat rate of calculating profit was being used.

Under the flat rate, interest is calculated on the total principal. It does not take into consideration that after each repayment the borrower owes the company less each month.

When interest is charged on the original principal, the poor borrower is made to pay interest on money that he has already repaid.

Idris argued that the fairer method would be for the bank to charge interest on the balance that the borrower owed at the end of each month after the repayment had been made.

“Bank Negara should compel banks to implement this method to protect borrowers, who are now short-changed,” he told newsmen.

Posted by whizzkid125 > 2013-12-16 15:48 | Report Abuse

http://www.freemalaysiatoday.com/category/nation/2013/12/16/cap-islamic-bank-loans-are-a-rip-off/

Posted by 935win > 2013-12-16 15:52 | Report Abuse

big new will come

Posted by asoh > 2013-12-16 15:53 | Report Abuse

wow betul ke tu....apa komen pakar ekonomi lain....

Posted by Icon8888 > 2013-12-16 15:56 | Report Abuse

82

Posted by tkteoh80 > 2013-12-16 15:56 | Report Abuse

The news said ==>Islamic personal loans offered by banks has higher profit rate than moneylanders, said CAP president SM Mohamed Idris.

Seem like good news for islamic bank....

Posted by Icon8888 > 2013-12-16 15:56 | Report Abuse

i think runnig out of sellers. Very little queuing up to sell

Posted by Icon8888 > 2013-12-16 15:57 | Report Abuse

almost all sellers had been absorbed

Posted by Icon8888 > 2013-12-16 15:58 | Report Abuse

835

Posted by jacksonchoo > 2013-12-16 15:59 | Report Abuse

profit taking time.........get ready to throw

Posted by jacksonchoo > 2013-12-16 16:03 | Report Abuse

good to throw...at 0.825.. profit 35k..yum yum

Posted by 935win > 2013-12-16 16:04 | Report Abuse

run run and sale sale sale........

Posted by ujang23 > 2013-12-16 16:04 | Report Abuse

good

Posted by jacksonchoo > 2013-12-16 16:04 | Report Abuse

pick up again later....

Posted by iafx > 2013-12-16 16:06 | Report Abuse

straight line down from .835

Posted by ZZjuniorinvestor86 > 2013-12-16 16:08 | Report Abuse

lol. picking up. managed to buy at 77. Yes!!!

Posted by jeffrey123 > 2013-12-16 16:08 | Report Abuse

what would be a good price to get in?

Posted by tkteoh80 > 2013-12-16 16:10 | Report Abuse

wtf, so active ...

Posted by jacksonchoo > 2013-12-16 16:11 | Report Abuse

there's no bad or good price to enter...as long as you believe this counter will make money for you ..LOL

Posted by iafx > 2013-12-16 16:12 | Report Abuse

counter goreng :D

Posted by passerby > 2013-12-16 16:12 | Report Abuse

it is a nice battleground....

Posted by passerby > 2013-12-16 16:17 | Report Abuse

without much movement on underlying, the WA move so vigorously.....still amazed & puzzled :)

Posted by jacksonchoo > 2013-12-16 16:17 | Report Abuse

purely goreng...beware shark attack soon...

Posted by Gabriel888 > 2013-12-16 16:18 | Report Abuse

layman will not understand

Posted by samsuribinkassim > 2013-12-16 16:19 | Report Abuse

saya dah terbeli tadi 0.825 30lot.....boleh hold lagi tak??or ken jual sebelum terus rugi.........opinion plz....tq

Posted by jacksonchoo > 2013-12-16 16:20 | Report Abuse

samsuribinkassim : hold...wait for tmr....

Posted by samsuribinkassim > 2013-12-16 16:21 | Report Abuse

tq sir....

Posted by samsuribinkassim > 2013-12-16 16:21 | Report Abuse

im very stress tadi

Posted by tkteoh80 > 2013-12-16 16:21 | Report Abuse

Tomorrow target==> RM0.935

Posted by iafx > 2013-12-16 16:23 | Report Abuse

premium now 27%

Posted by samsuribinkassim > 2013-12-16 16:23 | Report Abuse

todat target sir??

Posted by jacksonchoo > 2013-12-16 16:25 | Report Abuse

today TP 0.775 - 0.79

Posted by samsuribinkassim > 2013-12-16 16:26 | Report Abuse

tq...hopefully tmrw it will up to rm0.935

Posted by ZZjuniorinvestor86 > 2013-12-16 16:28 | Report Abuse

whoever wanna buy, can buy now

Posted by iafx > 2013-12-16 16:29 | Report Abuse

4.30pm already buy now for what? :D

Posted by passerby > 2013-12-16 16:29 | Report Abuse

they have managed to draw in quite a lot of punters & contra kakis....give it a pass

Posted by Icon8888 > 2013-12-16 16:32 | Report Abuse

i think the run is over. dont think can repeat same performance tomorrow

keeping for long term

Posted by iafx > 2013-12-16 16:35 | Report Abuse

if the performance cannot keep up tomorrow, will see .6x even worse as severely overbought. good luck!

Posted by samsuribinkassim > 2013-12-16 16:35 | Report Abuse

icon8888 i bought with 0.0825 do you think i must sell it now??or wait for tomorrow??

Posted by jacksonchoo > 2013-12-16 16:35 | Report Abuse

ya..got a very bad feeling...hopefully not true.

Posted by ZZjuniorinvestor86 > 2013-12-16 16:37 | Report Abuse

going up again

Posted by ZZjuniorinvestor86 > 2013-12-16 16:38 | Report Abuse

then down again. fuhhh

Posted by ben_ns > 2013-12-16 16:38 | Report Abuse

well we don't really know