Penang Airport Handles Nearly Two Million Passengers In Q1 2025, 69.5 Per Cent Surge
State Tourism and Creative Economy Committee chairman Wong Hon Wai said during the same period, the international passengers rose by over 80 per cent, while domestic numbers grew by more than 57 per cent.
'Flight frequencies are also rising 20.53 per cent for international flights and 30.28 per cent for domestic routes. Visitor arrivals from international markets have shown strong growth, with China recording a 102.47 per cent increase.
'Meanwhile, arrivals from India recorded a 108.73 per cent rise, while arrivals from Japan increased by 24.7 per cent, followed by the United States at 17.35 per cent and the United Kingdom at 15.82 per cent,' he said at the opening of the Matta Fair Penang 2025 at Setia SPICE Arena, Bayan Lepas here today.
He pointed out that over the past 18 months, Penang has made real progress in strengthening the international air connectivity with 14 new direct international flight routes.
'Direct flights reduce travel time, lower costs, and attract more international visitors. Our hotels are seeing higher occupancy, our food and retail industries are busier, and the overall energy in the city reflects this growth. These are signs of a healthy, active tourism economy,' he said.
Touching on Matta Fair Penang 2025, Wong said an important new feature at this year's fair is the Domestic Tourism Zone, which is being introduced for the first time in Penang's edition of Matta Fair.
He noted that it is a great initiative to help more Malaysians explore the beauty of the country and highlighted that local tourism has great potential and this zone gives it the space and attention it deserves.
The two-day Matta Fair Penang 2025, which kicked off today, features 258 booths representing 90 organisations from various segments of the travel and tourism industry.
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The Star
20 minutes ago
- The Star
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The Star
20 minutes ago
- The Star
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'Many see it as a cost-free way to defer payments, unaware that missed instalments can trigger penalty fees. 'According to the Consumer Credit Oversight Board (CCOB), while 88% of users repay on time, the remaining 12% hold overdue debts amounting to a staggering RM121.8 billion. 'Of these users, 70% earn less than RM5,000 per month, making them highly susceptible to financial shocks,' he says. Similarly worried about the trend is Mohammad Ridzuan Abdul Aziz, an industry advisory panel member with the Asia Pacific University of Technology and Innovation (APU). He points out the generally low level of financial literacy among Malaysian consumers, alongside the low awareness of their rights as consumers. 'Borrower rights are not properly protected as the terms and conditions differ from one type to another type of lender, under the current (disjointed) regulatory framework,' he says, adding that most users are unaware of the common pitfalls related to BNPL providers. 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For many in the B40 group, even a small delay in income or unexpected expense can trigger a default chain reaction,' he says. Approaching regulation Mohammad Ridzuan believes that a major concern is how BNPL operators were previously not required to be licensed in Malaysia. Mohammad Ridzuan believes that a major concern is how BNPL operators were previously not required to be licensed in Malaysia. — APU This is something the government seeks to remedy with the passing of the Consumers Credit Bill 2025 in the Dewan Rakyat last month. The Bill saw the formation of the Consumer Credit Commission (CCC), which now seeks to develop a code of conduct for credit practices, including those offered by BNPL apps, aiming to implement structured licensing and registration in unregulated sectors. As reported by The Star on July 22, Deputy Finance Minister Lim Hui Ying said that under the CCC's frameworks, BNPL providers are required to report the credit data of their customers to credit reporting agencies, such as Credit Tip-Off Service (CTOS), via a centralised database. AKPK says that it supports the move, stressing that they represent key steps in providing protections to Malaysians from unregulated and irresponsible lending practices. 'These frameworks will regulate BNPL, instant credit facility, and other emerging credit services that currently fall outside traditional financial regulations,' the agency adds. Alongside the regulatory move, Paul Anthony believes that there needs to be urgent attention given to consumer awareness and behaviour. 'Financial literacy among Malaysians, particularly within the B40 segment and younger demographics, remains low. Many do not fully understand the cost implications of BNPL or the importance of credit scores and repayment timelines. 'Without nationwide financial education campaigns and stronger financial capability building efforts, we risk repeating a cycle of compliance without comprehension. 'Furthermore, enforcement mechanisms must be robust and agile. For example, monitoring 16 BNPL providers especially as more emerge requires institutional capacity and data integration,' he says. Mohammad Ridzuan concurs: 'The current state of a disjointed non-bank consumer credit ecosystem that is governed and administered by three different ministries desperately needs to be revamped, realigned, and cautiously restructured, as it creates a regulatory arbitrage, ineffective supervision, and allows indiscriminate behaviour by the lenders towards their consumers. 'It puts consumers at a higher risk of not being adequately protected by the existing regulatory framework, and financially paying more compared to those who are using credit cards and/or obtaining loans from banks,' he adds. Paul Anthony further calls for transparency in the decision-making process on future credit ceiling and interest caps, along with data privacy measures to ensure that the centralised credit data system is not misused. Credit challenges Other overlooked areas are the weak understanding of repayment terms and compounding fees, as well as a limited awareness on how BNPL is expected to impact credit scores, particularly with reporting to CTOS, says Paul Anthony. 'The persistent lack of clarity around fee structures and repayment obligations highlights a critical financial literacy gap, one that the new Consumer Credit Commission (CCC) must urgently address through focused public education and transparent provider practices,' he says. This is not to say that BNPL offerings are strictly something to avoid. As laid out by Mohammad Ridzuan, there are both positives and negatives. 'It is good for consumers who understand the terms and conditions of these credit facilities, their purposes, and it is commensurate with their capability to service the repayment obligations timely and diligently, as well as their rights from a legal perspective. 'However, it could be otherwise for consumers who failed to understand the legal terms and conditions, their rights, and are unable to repay timely and adequately.' Paul Anthony further notes a major rise in BNPL use for consumer items like electronics, clothing, and travel, rather than medical expenses or emergencies, which highlights a 'cultural shift toward borrowing for convenience rather than necessity'. — Pixabay Citing data from the CCOB task force, Mohammad Ridzuan further says that BNPL and instant loans are the most attractive to consumers who are not eligible for credit cards, those who need short-term cash management, and impulsive shoppers. Paul Anthony too believes that such fintech credit solutions could serve those with irregular income flows like gig workers, freelancers, or those in between pay cycles who might find themselves temporarily cash-constrained. This is due to their level of accessibility, speed of approval, and minimal documentation in comparison to traditional bank loans. But this does not come without risk. 'Unlike traditional financial institutions, BNPL providers often lack stringent credit checks, allowing users to easily accumulate multiple short-term debts across different platforms without fully realising their total liabilities. 'This fragmentation increases financial vulnerability. Additionally, as BNPL delays the 'pain of paying', users can become psychologically detached from the actual cost, leading to chronic overconsumption, poor financial planning, and long-term indebtedness,' he says. Paul Anthony acknowledges that while such options can help with temporary liquidity gaps, they are not suited to the long-term, or for those without stable income or budgeting discipline. He adds that: 'The key issue is not the product itself, but how it is used and understood by the consumer.' Back on track When it comes to using these fintech credit options responsibly, Paul Anthony suggests treating them like any other form of debt, with 'careful planning of repayments, having discipline, full understanding of repayment terms, and limiting usage'. He recommends against engaging with too many BNPL platforms at the same time, as it can easily lead to confusion and result in financial strain, while also making sure to avoid missed payments to avoid penalties or damage to credit scores. 'If an individual is already juggling other debts, adding a new BNPL obligation can be risky. In such cases, it is wiser to pause and reassess financial priorities before proceeding. 'To stay on top of commitments, consumers are encouraged to use budgeting apps or financial planning tools to monitor all monthly obligations,' he says. Paul Anthony adds that anyone currently struggling with debt should start by taking stock of all their commitments, including the amount owed, the providers, repayment terms, and due dates. 'This comprehensive overview allows for better planning and decision-making. Once this is done, prioritise repayments, especially those with higher penalties or the potential to negatively impact your credit record. 'It is important to reach out to BNPL or loan providers to explore options for repayment restructuring, deferment, or even consolidation, which can ease the monthly burden,' he says. He also advises refraining from making new BNPL purchases or taking out any new loans during the recovery process, and instead to make adjustments such as revising budgets to 'cut non-essential expenses and redirect funds toward clearing existing debts' and 'cancelling unused subscriptions or reducing discretionary spending'. Meanwhile, Mohammad Ridzuan points to AKPK – which offers Malaysians free, confidential guidance on managing and overcoming debt – as another resource for those who need help with their finances. The agency also assists with renegotiating existing debts with licensed banks, and provides advice after restructuring personal debts. At the end of the day, however, he believes that it is up to consumers to be disciplined with their debt management. 'Without their willingness to improve their knowledge of personal finances, no external facilitation would be able to facilitate improvement in their debt management matters,' he says. He further advises to avoid spending beyond their means, noting that most consumers get into trouble due to the impulse to chase instant gratification. Paul Anthony's wish is for Malaysians to understand that borrowing is a liability, and that 'every sen borrowed must be repaid, often with additional costs'. 'The ease of access to credit today, especially through digital platforms, has blurred this line,' he says, stressing that a 'well-managed loan can improve your financial position, but uncontrolled borrowing can be devastating'. 'It is not just about knowing the mechanics of BNPL or instant loans, it is about recognising when not to borrow. 'Empowering people with this mindset, especially from a young age, is the most powerful debt prevention tool we have,' he says.


Daily Express
20 minutes ago
- Daily Express
Ringgit opens firmer against US dollar amid rate cut expectations
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