Saturday, August 11, 2018

Pakatan Policy on PTPTN reckless

MM Online - Dr M: PTPTN debts almost as high as 1MDB’s:

KUALA LUMPUR, Aug 11 — Tun Dr Mahathir Mohamad has revealed that the amount owed to the National Higher Education Fund (PTPTN) from its defaulters is almost the same as 1Malaysia Development Bhd’s (1MDB) total debts.

The Malaysian Insight quoted the prime minister as saying that in total, defaulters owe PTPTN RM39 billion in outstanding loan repayments.

The 93-year-old prime minister, who was speaking to a gathering of students at the Malaysian Student Leaders Summit X11 today, reportedly said the sum was “almost the same” as what is owed by the controversial 1MDB.

However, Dr Mahathir did not disclose the exact amount of 1MDB’s debts.

The Auditor-General’s report on 1MDB estimated that the state investment vehicle needs an estimated RM42 billion to settle the principal and interest on its loans

Once a team of auditors came to the Malaysian High Commission in Canberra and I so happened to subsequently meet one of them in Sydney. During dinner he confessed the PTPTN funding was out of control, with documentations pissed poor. Basically some loans were NOT even recorded, wakakaka.

My personal belief is that a loan MUST be re-paid. It's not only ethical to return what was borrowed, but to ensure subsequent students' applications for study loans will NOT be threatened by non-payments by their predecessors.

The fund must be revolving (borrow-return-borrow-return-borrow-etr-etc-etc) to survive, but alas, some (or even many) Malaysian loan borrowers lack honesty and ethics, and won't return loans if they could get away with that.

Penang Hokkiens would call them, 'Ch'au K'ar' (kaki jelek, dishonest bloke).

Thus Pakatan has been quite reckless to allow non-payment (delayed) for some. The non-return of loans will affect subsequent student applications.

The fact that Mahathir has now mentioned the PTPTN's humongous debt may possibly signal a restriction in loans. It's sad and quite unjust that subsequent students applying for such loans may suffer from any future loan restrictions. 


(1) Malaysians divided on delay of Pakatan promise on PTPTN loans repayment.


  1. Hmmm...did BNUMNO did any better job with recovering the loans?

    Ktemoc , like MCA, was conspicuously mute and silent on so many Bijan actions, such as on this one.

    "Boh Siah" as they say in Hokkien.

    Sudah Kalah Baru Bersuara.

    1. PTPTN has been in existence since 1997. So the problem of Billions of Ringgit in bad debts have been festering for a long time. 99.99% of the time period under BNUMNO.
      So don't bullshit by trying to paint Pakatan Harapan as reckless.
      The block on the payees leaving the country was lifted because it was administrative over reach. These people are not bankrupts, nor suspected of criminal activity.

      Just 100 days ago, Ktemoc was foaming like a rabid dog because the new Government prevented Najib ( who IS suspected of very serious criminal activity) from leaving the country.

      No standard lah...Ktemoc...

    2. then go ask Mahathir why he allowed the PTPTM to go berserk? He was PM until mid 2003

    3. Your unrelenting determination for letting Bijan off the hook is amazing.
      2003 was 15 years ago lah...90% of the PTPTN bad debts were incurred in the last 10 years.

    4. 90%? wakakaka - well, prove it

    5. "Your unrelenting determination for letting Bijan off the hook is amazing."

      Monster...wild horses would be unable to drag this talam dua muka to bongkar and tell the damn truth about his paymaster. To do that would be like saying goodbye to his dedak stash in the millions ! The funny thing is that he thinks he could hoodwink the readers here and even funnier is that his paymaster buys this bullshit from Ktemoc. These UMNOnites are clutching on shits in their drowning throes. I guesss it's no skin off his nose, since like looes pointed out so often, wakakaka, he is a face-less he has no reputation to guard and once he has pocketed all his ill-gotten gains, will discard his rotten blogger byline, dust his hands, and re emerge somewhere else.

    6. Here are the facts instead of Ktemoc Bullshit

      Penang Institute's 2016 study on PTPTN.

      2003 - Cumulative loans RM 1.8 Billion , repayment RM34 Million I.e Oustanding RM1.5 Billion

      2008 ( the year Beloved Najib came to be PM ) loans RM 2
      9 Billion, repayments RM 347 Million , Outstanding RM. 2.5 Billion

      2018 Cummulative loans RM 45 Billion, repaid RM.7.3 Billion, cummulative Balance RM 36 Billion.

      It is clear the mismanagement of the loan fund occurred mostly in the last 10 years under beloved Najib.

    7. that's from a DAP presentation - the figures have to checked.

      but I have Star report which while not giving the figures as YB Ong Kian Ming (DAP), it says: "In 2016, PTPTN targeted a recollection about of RM2bil. They were able to collect RM3.4bil.

      Between 2015 and 2016, the amount was RM4.87bil. That’s a huge chunk considering PTPTN’s total collection to date is about RM10bil – so we’re talking almost 50% in just two years.

      For whatever reason, Malaysians seem to react to the stick rather than the carrot.""

      Thus I have doubts now about mahathir's figures

  2. the previous govt barred those who didn't return loans from exiting the country; the current government lifted the exit restriction

    what 'conspicuously mute' has to do with the lifting of the exit-restriction?

    1. Hmmm…… 2x5 = 5x2 lah!

      "the previous govt barred those who didn't return loans from exiting the country; the current government lifted the exit restriction"

      The beef SHOULD be in which approach would the PTPTN getting back the loaned money!

      Barring defaulters from leaving the country - will these defaulters return the loans? BTW, this superficial gameplay was the latest of a series monkey shows put up by the previous bn regime.

      Historical records have strongly indicate that these good-for-nothings WOULDN'T pay back & act tak-apa!

      Otherwise the PTPTN debt wouldn't grow to such humongous proportion when PH takes over the govt machinery.

      These defaulters know that the PTPTN wouldn't/unable to cramp down on them vigorously. Reasons been

      1) lousy Loan portfolio monitoring & administration

      2) inbreed entitlement mentality of these mfers

      3) PTPTN wouldn't be able to do anything significant to force them repaying the loans.

      The latest move of barring these defaulters from leaving the country IS just political gimmick!

      The resulted repayments of loan have not improved significantly - indicating the threat IS NOT working.

      PTPTN under Ben is working on a new mechanism where these 'Ch'au K'ar' (kaki jelek, dishonest bloke) will be charged in court if they still refuse to pay up or initial installments after a grace period.

      The lifting of the barring has done nothing to worsen the debt amount. Rather it gives a reprisal space before the cane strikes hard on these mfers!

      Yr kind of conspicuous muting HAS a lot to do with the uncontrollable grow of the PTPTN debts during bn's govt.

      & now u ONLY want to fart about the lifting of the exit-restriction!

      U should write for the blur-sotongs lah! They would sokong yr fart as if God given.

  3. What is the cheebye motherfucker kaytee with malay mail? A very valid question to cheebye kaytee.......Notice many articles he is quoting from Malay Mail

    1) Is cheebye kaytee really a Penang lang? Those who read Malay Mail are mainly from Klang Valley

    2) Is cheebye kaytee a disgraced journalist who molested girls in Malaysia on the wanted list and kenna saved by Najib

    1. as I mentioned before, I did NOT fCk your mum so I am not your motherfucker

      actually you have forgotten or must be confused by the trauma of servicing Pauline with your wriggly tongue, but you were in fact the disgraced journalist who molested girls in Malaysia and became a notorious person on the wanted list but kenna saved by Maddy, wakakaka

  4. I see it differently. Harapan has NOT officially allowed non or delayed payment of PTPTN loans. It has merely removed the blacklisting of borrowers preventing them from leaving the country. The minimum RM4k salary before deduction begins has not been implemented yet. The Education Ministry has only initiated a registration exercise for those earning below 4k as a way to determine the SIZE of the debt, which was badly recorded, or even not recorded in some instances by the previous administration.

    Read properly 10 promises in 100 days on PTPTN.

    6. To ease the burden of National Higher Education Fund Corporation (PTPTN) loan borrowers

    It plans to allow borrowers to defer repayment if the borrower earns less than RM4,000 a month.

    PH is also proposing to remove PTPTN's blacklisting policy, in which defaulters will not be allowed to renew their passports and they are barred from leaving the country.

    The removal of blacklisting has already been done. The minimum 4k part is in progress but of course before they can implement this they need to know WHO are these people earning less than 4k, and what is the total amount owed. Due to the terrible record keeping of the previous government and the misuse of these loans, the Harapan government has undertaken to do a registration exercise first before implementing. TDM is merely giving us a heads up that as of the registration deadline of July 31st the total PTPTN loans given out by the BN government that has not been repaid totals almost as much as 1MDB debts. That's the size of their mismanagement that has to be fixed.

    Our powerful Book-keeper cum Chief Detective Guanee is sniffing around for another possible Red File.....

    If future students cannot get loans it is not fair to blame a 100 day old government that is trying to fix the problem accumulated by a decades old policy that was mis-managed by the previous government.

  5. Totally agree there is no justification to bar defaulters of PTPTN loans from travelling. It is just an easy way out of recovering loans by punitive method whereby the probability of recovering loans thru this way is also negligible and in contravention of the Freedom to Travel for all citizens to make a living.

    It is the same with the problems in recovering MARA student loans and business loans. The amount is also as humongous as PTPTN loans.

    It is actually a Government's responsibility to provide free or subsidized higher education and thus a way out must be found instead of just providing student loans. Sell off Govt. assets to fulfill this responsibilty instead of thinking of making monies thru all the GLCs, GLICs, PNB, sovereign funds etc whereby it only keep benefiting mostly political elites and their supporters.

    Do you expect a student to pay their loans to the Govt. after seeing how the previous BN Govt. steal and spend their monies, mismanage and allows corruption and wanton leakages?

    Even a Taxpayer contributing to the Govt. purse would finally try to evade taxes cos it only landed up into the hands of corrupt officials and a corrupted Govt.

    And we have a few holier than thou trying to evade the actual roots of the problems and thinking of only punitive actions and espousing moralities of a problem.

    What sort of Govt. is that?

  6. I agree with KT 4 tis issue 2 discourage abuse of ptptn.u need 2 restrict people who owe money frm leaving e country unless e person is paying digilently every month (say at least 6-12 months), we should allow them 2 travel.if u kiasi they will run away,have a collateral of some value b4 they r allowed 2 travel.

  7. A BN government's decades old PTPTN policy racks up 39B in debts and you call the 100 day-old Harapan government PTPTN policy reckless?

    I think this statement is reckless.

    1. Pakatan's Head started PTPTN way back (in 1997?) and has authorship of that loan fund

    2. In 1997 the Education Minister was Najib.

    3. That period also saw the proliferation of the many private university/colleges offering multitudes of diploma/degree courses.

      Many of these educational outfits enticed students to enrol via PTPTN loans.

      Many of these students' qualifications r borderline cases but they still got accepted by these colleges/universities!

      There were dubious collaborations between these academic outfits & the officers in approving/dispending the PTPTN loans.

      That's the main reason WHY the PTPTN loans ballooned hyperbolically!