BUTTERWORTH, Malaysia - A single mother with three children is living in fear of nine loan sharks after she borrowed about RM90,000 (S$36,846) to improve her furniture business.
The 46-year-old woman, who only wanted to be known as Madam Sng, said she and her husband divorced about three years ago and she had borrowed money from the moneylenders to improve her business.
"I did not think I would be harassed by them," she told a press conference organised by Bagan MCA Youth chief David Chua at the Bagan MCA headquarters in Jalan Kampung Benggali.
Sng said she had to borrow the money to run the business because two of her children were still studying.
"Despite borrowing the money, my business didn't improve as many of my clients failed to settle their dues after getting their furniture.
"As such, I had difficulties in paying back the money to the moneylenders and I had no choice but to close shop," she said.
Sng said when she was unable to pay the Ah Long, she started receiving threatening calls from them.
"To date, I have paid more than RM50,000 to all nine of them, but the interest rate is killing me as they charge me 15% every five days," she said yesterday.
Chua, who is also Bagan Barisan Nasional coordinator, called upon the Ah Long to be more considerate.
He urged them to work out a settlement to get back the principal amount by waiving the interest payment.
Chua also said Sng's clients who still owed her money should settle their dues to help her pay off her debts.
"Sng is going to start work soon and she wants to settle her debts.
"Hopefully, her former clients will come forward to pay up their dues as this will be of great help to her," he said.
The 46-year-old woman, who only wanted to be known as Madam Sng, said she and her husband divorced about three years ago and she had borrowed money from the moneylenders to improve her business.
"I did not think I would be harassed by them," she told a press conference organised by Bagan MCA Youth chief David Chua at the Bagan MCA headquarters in Jalan Kampung Benggali.
Sng said she had to borrow the money to run the business because two of her children were still studying.
"Despite borrowing the money, my business didn't improve as many of my clients failed to settle their dues after getting their furniture.
"As such, I had difficulties in paying back the money to the moneylenders and I had no choice but to close shop," she said.
Sng said when she was unable to pay the Ah Long, she started receiving threatening calls from them.
"To date, I have paid more than RM50,000 to all nine of them, but the interest rate is killing me as they charge me 15% every five days," she said yesterday.
Chua, who is also Bagan Barisan Nasional coordinator, called upon the Ah Long to be more considerate.
He urged them to work out a settlement to get back the principal amount by waiving the interest payment.
Chua also said Sng's clients who still owed her money should settle their dues to help her pay off her debts.
"Sng is going to start work soon and she wants to settle her debts.
"Hopefully, her former clients will come forward to pay up their dues as this will be of great help to her," he said.
