Posted by ks55 > 2020-04-26 00:38 | Report Abuse

Malaysian GDP is about rm 1.5T in 2019.
Loss per day lockdown is rm 2.4B. 8 weeks (56 days) total loss rm 134.4B
Just based on lockdown for 8 weeks already wipe off 9% of GDP for 2020.
If slow down of Malaysian economy post MCO to be another 9%, effectively Malaysian economy will shrink by 18% for 2020.

Si lor, die lor, Malaysia surely in deep recession.
How to put more money in share market when whole world experiencing GDP contraction ranging from 10% to 20% ?
How manufacturers going sell their products within Malaysia and abroad when main concern is to put food on the dining table?

Posted by ks55 > 2020-04-26 10:16 | Report Abuse

Haha....
Still think all loans given out stand good chance to recover?
Many property developers and construction companies will fold up.
Many transport companies and airline going to holland.
Many SMEs will close shops.
Many people will lose their job.
Many people will not be able to pay car loan and housing loan.
Many people will default credit card payment.

Govt's revenue from import and export duties diminishing.
Govt's GST and excise duties evaporate in thin air.
Govt's income tax for company and individual will disappear.
Govt's dividend from GLCs and Petronas may not forthcoming.
Govt's out of budget expenditure (by whatever name) already shot to the moon.


What can PM do?
1. Ask BNM print more money (effectively make Ringgit shrinks faster)
2. Ask Treasury issue more Bond with higher coupon rate (Borrow more and pay more interest)
3. Ask Finance Minister to kowtow to China (Get more RMB), as no other western country is in position to lend money to Malaysia.
4. Raise GST from 6% to 15%.
5. Downsize Cabinet.
6. Downsize Civil service from 1.6m to 1.2m
7. Freeze or reduce civil servants (and MP, Ministers) salary by 10%.
8. Temporary reduce govt pension by 10%.
9. Cap CEOs of GLC at 600k a year (i.e. 50k a month) with no other fringe benefits.

When Covid-19 pandemic hit, all must suffer, not just the underprivileged, but the elite too.
PM must take prudent and appropriate action to minimize damage caused to Malaysian economy and suffering to its people.

Posted by Lucky81 > 2020-04-26 10:22 | Report Abuse

Government servants is in good position now, stable income. If government go bankrupt, private sector will lingkup first, hahahaha!

Posted by chinaman > 2020-04-26 10:30 | Report Abuse

Bloated civil servants size is not new problem, it's long pending with no PM ever dared to catch bull by the horns with drastic reform. Except health officers' dept., who over-worked- others mostly hei hei. no comment. wakaka

Posted by Latuk Seri Rick Walker > 2020-04-26 10:33 | Report Abuse

Half of Malaysia civil servants are paid for doing nothing! Even worst, those on top are taking long holidays, missing from office days even months!
This is the best time to cut their salary! Cut their pension! Why protect few millions of highly privilege but the rest of 31 millions have bleak future!

Posted by gemfinder > 2020-04-26 10:38 | Report Abuse

Where r d minister n so many deputy minister? R they working? No news at all. Or just makan beramai ramai kat kampung?

Posted by Hush77 > 2020-04-26 10:57 | Report Abuse

I suggest they shld open up the factory and industry area for export goods..
Just need all the workers mandatory to wear mask and social distancing..
Civil servant shld take a paycut for the month where they are not working.
Minister, and their polical secretary and all those apointees shld likewise take 50% cut if they are not working during mco..
Foreign workers shld be quarantine or move to other location to minimised risk of spreading..
Borders and airlines shld remain close unless the tourist have letter or can be quarantine..
Keep the retail ,coffee shop , mamak shops, warung and places where a lot hang out and non essential and malls closed..to prevent the spread but those export industry shld gradually open.

Posted by Sslee > 2020-04-26 10:57 | Report Abuse

Do anyone know beside 1.6 million Civil Servants how many pensioners in Malaysia?

Posted by TrippleZ > 2020-04-26 11:02 | Report Abuse

Over paranoid about economy. For thousands of years human doesn't live by looking at GDP.

Posted by Latuk Seri Rick Walker > 2020-04-26 11:05 | Report Abuse

Posted by Sslee > Apr 26, 2020 10:57 AM | Report Abuse

Do anyone know beside 1.6 million Civil Servants how many pensioners in Malaysia?

Answer : Ex politicians also get pension for life in Malaysia!

Posted by chinaman > 2020-04-26 11:15 | Report Abuse

myr2.4Bx 60 days MCO- myr144billion. Kia si lang figure economic losses. all makan rumput

Posted by Equityengineer > 2020-04-26 11:26 | Report Abuse

Many Pensioners have no EPF to begin with so it’s robbing them not to pay them now Three decades ago government wants the citizen to join the civil servants, not many would have joined especially with the skill sets that they would acquire would not mean much to get employable after 60 years of age. This pension system is like a perks that ensure retirement , but government also know that the pensioners have not much time to live, so eventually what they pay will be less than what they need to contribute over the years if epf was agreed. However, pensioners living longer now. The pension system should be abolished and those pensioners that already earning more than M40 should receive the pay cut, permanently. Stop the percentage basis , low rank officer maintain high percentage but high ranking officer earning more than >8k should follow low percentage.

Posted by chinaman > 2020-04-26 11:28 | Report Abuse

they will hold PM for ransom if downsize. so, no PM ever got the guts to do real cleansing. Pak Lah, Mr Nice PM was sacked when trying to do so.

Posted by icecool > 2020-04-26 12:38 | Report Abuse

all these happened because we are a country of kia si lang hahaha !!!
anyway the government will always chose to print money to minimize the debt size to a payable level

Posted by stockraider > 2020-04-26 15:54 | Report Abuse

500k pensioners mah....!!



Posted by Sslee > Apr 26, 2020 10:57 AM | Report Abuse

Do anyone know beside 1.6 million Civil Servants how many pensioners in Malaysia?