“Mind Your Money” seminar a success in KK

KOTA KINABALU: The popular Save & Invest Road Shows and Seminars sponsored by the Private Retirement Administrator (PPA) and others like the Credit Counselling and Management Agency  (AKPK) debuts in Kota Kinabalu on Sunday, July 28, at a leading hotel here.

Dato’ Steve Ong, Chief Executive Officer of the Private Pension Administrator said, “The Save & Invest 2013 Roadshow and Seminar offers the public insights on financial planning and education on how to mind your money.”

“Not only that, the public will get to have a first-hand understanding on how to plan for retirement with the Private Retirement Schemes,” he explained.

It was the last leg of a nationwide tour throughout Malaysia from May to July starting from Kuala Lumpur and ending in Kota Kinabalu featuring various speakers and exhibitors organised by Universal Media Publishers, the Money Compass magazine publisher, aimed at inculcating financial education and wisdom among Malaysians through public interaction at such events.

Principal Consultant Amy Seok said, “In October, another seminar and road show featuring financial institutions would be held in Kota Kinabalu to help the small business communities to get needed loans so that they do not have to resort to borrowing from money lenders aggravating their situations.”

Themed “Mind Your Money”, one of the pertinent questions posed for the public to ponder was “How to keep pace with our money, purchasing power with inflation, and matching the life expectancy at each stage of our living and finally still adequate to support our retirement age?”

At the event, various experts offered answers, knowledge, tips and advice to the general public from all walks of life. Malaysia’s household debts are among the highest in the world.

Sonny Tan, the CEO of Pacific Insurance Berhad, Malaysia’s top personal health insurer for a decade, puts one of the key reasons why Malaysians borrow money is to seek medical treatments. Those who borrow are usually the ones without any  hospitalization insurance or inadequate insurance coverage for critical illnesses and other disability ailments. He advocates having enough insurance coverage for hospitalization and surgical procedures.