A very good insight sharing by Mr KL Wong. I do believe we will have bad economy but this is a market for those who are prepared. Those who look into opportunity during bad time. A lot of reputable company actually is founded during bad economy. So it's good or bad its up to your preparation.
Article credited to Mr KL Wong
Referred from https://www.facebook.com/photo.php?fbid=10154185584277501&set=a.10150178488382501.363436.799677500&
Dear all kindly digest the real situation in Malaysia.
1. After Malaysian Airline @ MAS laid-off 6000 staff, NAZA at Gurun Kedah too laid-off 300 staff in August
2. CCM Fertilizer in Shah Alam closed down. 200 people lost their jobs
3. Ansell and JVC in Shah Alam also closed down. 200-300 staffs lost their jobs
4. RHB Bank laid-off 2000 staffs with VES @ Voluntary Exit Scheme. That is after CIMB Bank laid-off 1800 staffs in Malaysia and 2200 in Indonesia
5. Maybank is running ERS @ Early Retirement Scheme. Not sure how many will be laid-off
6. Kuwait Finance House is shutting down their whole operation and business in Malaysia. They are negotiating with other banks to will take over their operations, including their assets and liabilities. During a M&A @ Merger & Acquisition or buy over, part of the staffs will be laid-off
7. Ringgit to USD dropped to RM4.35, It’s predicted to drop even further until end of this year
8. Inflation rate will increase, unemployment rate will go up, and buying power will reduce especially in 2016
9. In the private sector, companies are downsizing and all new hiring are put on hold
10. Government will reduce budget for all ministries. Public universities are urged to take their own initiative to raise their own funds, instead of solely depending on the government.
11. The unstable political scene is preventing foreign investors to invest in Malaysia. The economy will not grow due to that, and there will be lesser work opportunity
12. Due to the weak Ringgit value and the increasing inflation rate, government and other sectors are forced to import good with a high price and paying the debts with higher rates
13. This will cause price of goods and services to increase at an alarming rate.
14. House price will increase, banks will be stricter on loans, causing difficulties in owning a property
15. PLUS is increasing the number of automated counter. Seems like some of the staffs will be asked to have a long rest.
These are signs that Malaysia will face a very bad economy crisis soon. This will highly affect all that are in middle class and below. Hope for the best and prepare for the worst"
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