This is from The Malay Mail :
- Malaysians struggling to cope with GST, Jobstreet survey finds
- Monday June 29, 2015
- Nine in 10 working Malaysians finding hard to deal with living costs after (GST)
- according to a survey JobStreet.com.
- 90% of 1,454 employees surveyed said not able to cope with daily expenses
- Nearly one in four said faced problems even before GST
- 56% said minimised having lunch with their colleagues
- 47% started packing food from home
- resorted to other frugal activities
- utilising pantries more frequently
- carpooling to control expenses
- 40% said they would need 10 - 20% increments to salaries
- 36% claimed their salaries need to go up 20 - 50% to soften effect of the tax
- 63% voiced need for petrol allowance
- 35% considering job change
- 33% looking at part-time and freelance jobs.
- employers, 41% faced increased pressure to raise wages
- only 19% of 490 employers said they offered salary increments.
- GST to offset billions of ringgit in losses incurred through leakages and corruption
- new tax not necessary if government prudent with taxpayers’ monies.
My comments : What the gomen has done is to make the people poorer and make their lives more difficult. Thus the gomen has earned the curses of the people everyday.
The morons will say silly things like cook at home, fry fish without oil, Fitch has not downgraded our rating and other such foolish talk which they are famous for.
Allow me to give an example of just how foolish these people are.
Husni Hanadzlah has said that by early next year 1MDB would have settled all its debts and still have assets worth RM10 billion. He considers that a job well done.
Then what about those RM51 billion worth of assets? What happened to them?
Macam ini Dato. I dont know which bukit you come from or what type of school you attended but let me give you a simple example that even you should understand.
Lets say you pinjam RM450,000 housing loan (90% financing) from the bank and you bought a house. Your own money was RM50,000.
Every month you paid the bank the instalments. You must pay back the loan of RM450,00 plus interest.
After you paid back the loan to the bank, you must have the entire RM500,000 house as your asset. Plus whatever the appreciation of the value.
Katakanlah you are clever and you can buy three such houses (which many people do). Then after you have paid back all your monthly instalments, you should own three houses worth at least RM500,000 each.
Then you can tell your children, 'Papa worked and saved and every month I paid the bank the monthly instalments. And now I have three houses to my name. I am giving them to you.'
That will make sense.
But if you tell your children, "I have settled the hutang for all three houses. Sekarang kita tak ada hutang bank lagi. Hooray. However I only have one house to give you. The other two houses have also been sold, also to bayar hutang", surely your kids will ask you "Ini sudah bayar dua kali. First you paid off the bank hutang in full. Then you also sold the two houses for money. Where is that money from selling the two houses?'
Then papa will confess, "Well I have another ...interest.. in my life'.
If Husni Hanadzlah says those assets were still under hutang and 1MDB is selling it early to avoid hutang, then what type of business is that? 1MDB is a strategic investment fund. Ini strategy apa pula ?
What has 1MDB's 'strategic investment' achieved for the country? How many jobs have you created?
And let me guess - the remaining RM10 billion assets will come from the revaluation of assets (revaluation of lands, revaluation of IPP projects, present value of future developments, insha Allah etc). Not from doing real business. Semua atas angin.
For example buy taxpayer owned land for RM60 psf then sell it for RM2600 psf, RM3000 psf etc. Untung buta atas angin. The 'untung buta' business model again (since I cannot insult nenek tua anymore).
Back to the GST - are there any folks here from Section 15 Subang Jaya (USJ) ? I hear that many shops there have closed down recently. Kedai China, kedai Melayu etc. No business.
As the Jobstreet survey shows, people have no money now to pay for the higher prices of things.
The gomen has now closed both eyes. They are refusing to monitor the post-GST scenario.
During the Asian Financial Crisis, the NEAC would meet at 10 am EVERYDAY to monitor food prices, factory orders, fuel prices, export figures, Forex rates etc. It was crisis management at its best.
The morons in gomen today are probably lining up more projects to siphon out money. We dont even know how many of them will even be in the office today to do any real work.
Today petrol prices have gone up another 10 sen a litre. This will dampen spending even more. More businesses are going to shut down.
Workers will need an increase in wages of 20% or more to offset the price hikes caused by the GST. But how can employers raise wages even 1% when businesses are closing down?
When will this nightmare end?
Whatever it is I really marvel at all of us - Malaysians. We are able to tolerate so much bullshit so stoically. We seem to bear all this bullshit in this country so patiently and just continue to suffer.
Here is Surah 103 from the Quran :
103:001 By the time
103:002 Verily Man is in loss,
103:003 Except those who have Faith, and do righteous deeds, and counsel each other to the Truth, and counsel each other to Patience.
So may Allah continuously shower his support upon all of us patient Malaysians and lead us out of this nightmare. Soon.
p.s. Ananda Krishnan did not give / lend / pay RM2.0 billion to anyone recently. The money came from us - the taxpayers. The gomen issued bonds to borrow more money.