Reasons why ah long will stay forever in Malaysia
When i read the latest article from The Star, minister vows to wipe out ah long menace, i was saying to myself, it is another talk and no action by the minister. Of late, loan shark in Malaysia is taking the spotlight. Loan shark or better known as ah long has been creating fear to the public. Those who borrow money from ah long, but couldn’t return is being tortured and even caged in toilets for weeks.
Many has been shouting and screaming their lungs out for the enforcers to take initiative to go after this ah long. Action will be taken but ah long business in Malaysia will never diminish.
Here are the reasons why ah long activities are here to stay in Malaysia :-
Supply and demand
There are many poor and desperate people out there. Some need money to feed families, while some need money to satisfy their pleasure. So when there is high demand for something, the supply will always be there.
Easy to borrow
With just an IC or thumb print, money will be given out. Isn’t that easy?
Stringent bank laws
As we know, it is never easy to get a loan from a bank unless you have a good reason or a collateral for your loans. Loads of paper work need to be done and completed before the bank will be able to process your loan
Faster approval
With ah long, you just need less then an hour to get your loan. With banks, it might take weeks or worst months. Can people wait that long when they are in need of cash?
High return and fast money
It is one of the fastest ways to make money. Imagine if you loan RM 1000 from the loan shark, they will only give you RM 800. Not only that, the interest will come out to 200 to 300% per year if you are not able to pay.
Conclusion
Minister want to wipe out ah long? Tell that minister to dream long long. They can never wipe out the ah longs as they are here to stay. I wouldn’t be surprise if some of our politicians are involved in this kind of illegal business.
No matter what you do, never even borrow money from the ah long as their interest rates will kill you. Borrow from friends, family or others but say no to ah long.
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4 Responses to “Reasons why ah long will stay forever in Malaysia”
By ChampDog on Aug 8, 2009 | Reply
There is a Singapore movie about Ah Long… hahaha… Honestly I received their fliers from time to time.
By Sapawi The KL Blogger on Aug 14, 2009 | Reply
Hi Kampung Boy.I don’t know how desperate the people who borrow the money from Ah Long.
But we people should avoid these loan sharks because of their cruel action against the borrowers and also the very high interest that needed to be paid.
The maximum interest per year as recommended by Malaysia government is 18% but there were the cases that Ah Long forced the people to pay 18% per month and that is just the interest not including the basic loan. How bad the situation is?
We cannot simply ask the people to stop making loan from Ah Long but we should give them strong reasons not to and also give them the proper and easier ways to borrow money from goverment agencies etc (this is just my suggestion)and also the bad consequences from their own decision to make the loan.
People need money to do business or whatesoever and when they borrow money actually at the same time their mind will think how to not pay the debt like postponing the debt payment, giving excuses or just ‘forget’ the loan they make.
By Kampung Boy on Aug 18, 2009 | Reply
Sometimes i do understand the feeling when you don’t have a single penny in your pocket.
What if you have a family to feed? That would be even worst. Some really in dire straits and they need help. Banks won’t help them but who else?
I do pity those people but i don’t pity those people who take loan from loan sharks to gamble. That’s a sin and they deserve any punishment from the ah long if they dont pay back their loan.