BINTULU: Ministry of Domestic Trade and Consumer Affairs (KPDNHEP) state deputy director Mohd Hanizam Kechek has reminded repossession agent (EPS) permit holders in Sarawak to comply with the law and standard code of ethics on repossession.
According to him, the ministry has been alerted that a handful of EPS permit holders have applied for the permit to protect their own vehicles in the event that they fail to pay their monthly instalments.
“Some EPS permit holders were also found to have abused the permit by seeking payment from defaulters to avoid their vehicles from being repossessed,” he said at the EPS Integrity Empowerment Seminar for Southern Zone at BDA Mini Auditorium here yesterday.
As of July 7, there are currently 3,885 active EPS permit holders in the country of whom 231 are based in Sarawak. Hanizam pointed out that the seminar was part of the ministry’s initiative to inform EPS permit holders on proper procedures when carrying out repossession of goods as stipulated under the Hire-Purchase Act 1967 (Amendment 2010).
“Under the Act, any individuals who intend to carry out repossession of goods such as cars as stated in hire-purchase agreements are required to obtain consent issued by KPDNHEP,” he stressed.
He added that the criteria to hold EPS permits include that the applicant must be Malaysian and is aged 21 and above with no criminal record.
Prior to the Act’s amendment, Hanizam noted that repossession can be carried out via any appointed third party.
However, this has caused many problems as there were no standardised procedures and sometimes, the repossessors would behave violently while carrying out the repossession activity. Also present were KPDNHEP deputy director-general Muslimun Md Yusof and KPDNHEP Bintulu chief Salihin Den.