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Massive changes needed to save PTPTN

May 17, 2019

Change needed

PTPTN has to overhaul its operations or it will eventually collapse. 

It says it will be 76 billion ringgit in debt by 2040 if it goes ahead with deferring loan repayments for borrowers earning below RM4,000 a month.

This is especially so, since 70% of borrowers earn below RM4,000. 

Image: FMT

PTPTN adds that it has been taking on heavier debt to be able to afford more loans to needy students, partly because of loan defaulters. 

It's also hesitant about writing off debts, because every RM7,000 written off, means one new loan applicant will have to be rejected. 

Tabung Harapan to help ease 1MDB debts

The entirety of Tabung Harapan's funds will be used to settle 1MDB's debts, although it's only enough to pay off a small portion. 

Malaysians had donated about RM200 million to the fund by the time collections ended in January, but 1MDB has debts of RM1.7 billion just for 2019.

Image: Kosmo

The Finance Minister grew the fund by a few hundred thousand ringgit through fixed deposit investments.

Lim Guan Eng said that while the sum is not enough to cover 1MDB's total debts of RM51 billion, he's still grateful to Malaysians for trying to help. 

Cyber-bullying law

The govt is close to finalising a law to tackle cyber-bullying.

The Communications and Multimedia Minister said discussions with different ministries and the police are ongoing. 

He was responding to the incident where a teenager in Sarawak took her own life, after hinting she would on social media.

Image: Reuters