©Bernama
(Used by permission)
KOTA BAHARU, Aug 5 (Bernama) –– The Malaysia Malay Chamber of Commerce (DPMM)
claimed that the banking sector had not stop using the Credit Tip Off Service
Sdn Bhd's (CTOS) services to determine financial records of individuals despite
the government's advice to do so.
Expressing his fear, Chamber president Syed Ali Al–Attas said the banks'
attitude could hinder the country's objectives in achieving Vision 2020 and
progress of the Iskandar Development Region (IDR), Northern Corridor Economic
Region and the Eastern Corridor.
"This is worrying. The government's objective of achieving 30 per cent equity
for the Malays is now hampered by the actions of the banks and CTOS," he told
Bernama after attending a DPMM dinner here last night.
Syed Ali said the the use of CTOS' services by banks not only affected the
progress of Malay entrepreneurs but can also defeat the government's objectives
of raising the standard of living of the Malays.
He cited an example where an entrepreneur who had defaulted payments to a bank
was blacklisted while his project was progressing well.