Extracts Malaysiakini:
Cash-strapped Malaysians make beeline for pawn shops
Many Malaysians who were strapped for cash made a beeline for pawn shops, which were allowed to open today, forming long queues.
Many netizens had reported this phenomenon on social media throughout the country.
A check by Malaysiakini in Petaling Jaya saw long lines at several pawn shops. One shop had about 30 customers lining up outside.
Freeman Tan, who operates a Pajaking branch in Petaling Jaya's old town, said most customers were pawning gold for cash.
He said most of his customers were low-income earners who had their livelihoods taken away during the movement control order (MCO) period.
Tan said he had prepared more cash today as he anticipated a surge in customers today.
"During the MCO period, many customers called and asked me to reopen my shop. They urgently need cash to survive," he said, adding that he had to turn those requests down.
Tan said some customers do not keep money in the bank and prefer to wear it in the form of gold, which they would pawn or sell when necessary.
Many netizens had reported this phenomenon on social media throughout the country.
A check by Malaysiakini in Petaling Jaya saw long lines at several pawn shops. One shop had about 30 customers lining up outside.
Freeman Tan, who operates a Pajaking branch in Petaling Jaya's old town, said most customers were pawning gold for cash.
He said most of his customers were low-income earners who had their livelihoods taken away during the movement control order (MCO) period.
Tan said he had prepared more cash today as he anticipated a surge in customers today.
"During the MCO period, many customers called and asked me to reopen my shop. They urgently need cash to survive," he said, adding that he had to turn those requests down.
Tan said some customers do not keep money in the bank and prefer to wear it in the form of gold, which they would pawn or sell when necessary.
i pass by one at my area today 1.30pm, around 10 q up. mostly indian. indian suffer the most, perhaps worst than refugees.
ReplyDeleteEven if these people had acquired their gold as recently as a year ago, redeeming this investment at today's price is value for the money. I wish them well.
ReplyDeleteAren't we lucky that the PH government got rid of GST just in time. Otherwise the PN "government" would surely be increasing the rate to 15 or 20%, to pay for the 260 billion rescue package and compensate for the ten dollar oil.
ReplyDeleteThanks Guanee, the B40 owe you big time.
I note that not a single PN leader, including Jibby who introduced it, even dares to mention GST now.
GST is extremely badly needed now....wakakaka
ReplyDeleteU call yrself a seasoned businessman!
DeleteRight now, the most important thing for the qovt to support the econ US to ensure every citizen has sufficient CASH in hand.
GST restrictes the cash flow availability of the public while jerking up the nation's coffer!
Ooop… I know. I know. Sufficient money in the piggy bank for the elites & well connected to plan for the next escape.
I know you are totally incapable of understanding a piece of sarcasm....
Deletemaklumlah CCP-trained saja...
Wakakakakak…
DeleteA piece of sarcasm from an old moneyed fart!
Just say u r been caught with yr pants down lah!
死鸡撑饭盖 - a Cantonese phrase very apt for a demoNcratic dickhead with no teloq!