It’s quite common to see wealth comparisons being made between races in Malaysia, but none of the comparisons has really been meaningful.
Some perceive Malaysian Chinese as wealthy and the Malays poor. However the fact is that majority of Malaysian Chinese are working class. According to the 2016 data from the Department of Statistics, the proportion of working class amongst Malaysian Chinese and Malays are largely similar (Malaysian Chinese = 70%; Malays =72%). Disparity a
Malaysians recently expressed their distaste over Prime Minister Najib Abdul Razak’s quinoa diet, which made “quinoa” one of the top internet search terms in Malaysia over the past few days. The people’s reaction to Najib’s diet went beyond their disapproval of the prime minister’s spending habits or wealth, and is a demonstration of Najib’s and the BN’s continuous refusal to acknowledge their failure in governing and managing the country’s economy, which has left many of its
What Tun Dr Mahathir said about graduates in Malaysia becoming Uber drivers and Nasi Lemak sellers tells us something about the economy state we are in right now. It is of course not to be misunderstood that Uber drivers or nasi lemak sellers are jobs that no graduates should take up. But we are talking about a situation where graduates in Malaysia face difficulty in getting jobs that match their level of skills or academic level, hence are forced to take up jobs that require
In its address to economic and financial developments in 3Q 2017, Bank Negara Malaysia has pointed out that there is currently a property overhang in the market, with 130,690 unsold units as of 1Q 2017. Out of the unsold units, 83% of which belong to the above RM250,000 price range. It is also notable that 61% of the unsold units are high-rise apartments. The overhang shouldn’t come as a total surprise to many as Malaysians have long been complaining about the skyrocketing pr
When GST was implemented on 1 April 2015, Malaysians from all sectors were angered by and doubtful about the tax system. Despite the repeated reassurance by members from Barisan Nasional that GST will benefit Malaysians, many just do not feel it. Over the course of 2.5 years since GST was implemented, consumers are paying higher price for most of the goods, many small businesses experienced higher business costs which partially contributed to rise in prices of goods, and lost
Malaysia's fiscal deficit is targeted to be controlled at 3.1% to GDP this year. To improve fiscal deficit, the general idea is to increase income and reduce spending. One who has been following the development of global and Malaysia's economy will understand why the income part is tough. This is also why the government took a stand that GST must stay as it provides the government a fat RM39 billion to spend in 2016. The money can then be spent as injection to the economy. Co