HIS Royal Highness Prince Haji Sufri Bolkiah, the President of Brunei Darussalam National Olympic Council, yesterday attended the Olympic Council of Asia (OCA) Partnership Summit held at the Songdo Convensia in Incheon, South Korea. It was an opportunity for National Olympic Committees and Asian sports federations to expand their network of contacts and follow the trends of modern-day sports sponsorship and marketing. OCA President, HH Sheikh Ahmad Al-Fahad Al-Sabah, urged the delegates to make the most of the expertise and knowledge of the presenters from a wide range of global sports sponsors. – INFOFOTO
READERS often see the names of Bruneians published in the bankruptcy column of the local newspapers as they are taken to court for failing to settle debts such the instalments for car and bank loans.
It is sad to see this growing trend nowadays despite the government’s efforts to nurture the culture of savings and encourage moderate spending as well as the introduction of Total Debt Servicing Ratio (TDSR) to curb excessive debt among the locals.
We also see that more people are living beyond their means, buying the latest gadgets such as mobile phones or cars through monthly instalments offered by shops and banks that actually add to the debt of those who are already living on a tight budget.