Extracts Malaysiakini:
Cash-strapped Malaysians make beeline for pawn shops
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.
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