KUCHING, April 5 — The number of people in rural areas who have borrowed money from licensed and unlicensed loan sharks is troubling, said Julau MP Datuk Larry Sng.
He highlighted several alarming cases of borrowers facing overwhelming interest accumulation within short periods of time.
“In one case, a person borrowed RM1,500 but now owes RM7,600 after more than a year due to accumulated interest.
“Yet another person, who borrowed RM7,000 in 2022, has gone into hiding. That person now owes RM54,600,” he added.
“A couple of other people that I personally know from school have since committed suicide due to this.”
Sng, who is also also Parti Bangsa Malaysia president, claimed that those who borrowed these amounts were civil servants, teachers, farmers and other ordinary members of the public.
“The government should just revoke all money lending licenses and clamp down on unlicensed money lenders. Many of these Ah Long are gangsters, harassing and terrorising the poor and helpless people.
“They are no different from cancer in our society and have caused so much damage to families and the community as a whole,” he concluded. — The Borneo Post
