I had vet thru the speech text by the PM regarding the new economic model written in Bahasa via my e mail. It is quite technical for someone who lack of general economic background like me. And I found that the speech is specifically tailored to economist and those big guns as well.
I had summarized the gist of the speech because it will be the DEB replacement and the most important thing I believe soon on later it will be a syllabus of my generic PPK exam. Other than that, I guess, I would be one of the beneficiaries of the new model if they still can win in the next election.
The goal of the MEB is “ mewujudkan pekerjaan pendapatan tinggi “ –
(I wish that I could get a better job after this)
and there are few sub-goals which are
“ memberi anak-anak peluang pendidikan terbaik “, -sounds so fatherly and I have done my part by quiting from smoking just to let my daughter go to smart reader and
“ menarik pelaburan berkualiti tinggi”. -not related to me yet
Okay... There are 4 principles in the MEB which is market- friendly, merits, transparent and based on needs. These four things will be circulated thru Pekeliling shortly I guess.
The Bumiputeras will be continued helps thru affirmative policy not based on the race but the needs.
There are few strategies for what they call as Inisiatif Pembaharuan Stategik which are
• Menyuburkan kembali sektor swasta untuk menerajui pertumbuhan ekonomi
• Membangun tenaga kerja yang berkualiti dan mengurangkan kebergantungan kepada pekerja asing
• Mewujudkan ekonomi domestik yang berdaya saing
• Memperkukuhkan sektor awam
• Melaksanakan tindakan afirmatif yang telus dan mesra pasaran
• Membina infrastruktur yang berasaskan pengetahuan
• Meningkatkan sumber pertumbuhan
• Memastikan pertumbuhan yang mapan
From the speech he is expecting some expectations for some important sector (well I guess these thing going to be happen anyway)
1. Electric and electronic sector- the research incentive will be granted in the big value.
(maybe you can see more factory workers instead of a lot of retrenchment now and more giant factory will be built soon with the big help )
2. Resource based sector – Malaysia will be green hub for some activities such as research, commercialize supported by public sector.
(I think more research will be produce and should be marketed or else it’s worth nothing).
3. Islamic financial system would be developed to a higher level.
(hhuu.. maybe Islamic banks will at par as other commercial bank , at least and their loan rates would be better than conventional)
4. Big cities like KL and JB will be developed to be more comprehensive
(You may can see more traffic jam after this because of development, more skyscrapers and more indons)
5. Medical and health sector will be strengthened as a central sector of biotechnology.
(Hospitals like Prince Court definitely charge you more and more doctors will be born, good sign anyway- hope it happens to my daughter)
6. IT sector and creative industry will be enriched.
(If not the hackers will be mushroomed the cybercafes, the singer definitely will be on your TV screen more… AF 90 maybe haha haha...or people like KRU will get big grant from the government)
Actually it is a good movement to upgrade the standard of living in Malaysia which not really standard. But I supposed the most important thing is to maximize our purchasing power and that is more important.
Thru the speech text, PM also said that there few steps to be taken shortly i.e.:-
• Overseas investment is allowable for EPF now. (So hopefully dividend rateswould be increased after this not for me as I chooesed pension scheme.)
• MIDA will be corporatized. (maybe more jobs and recruitment will appear in the Star after this , hopefully the pay also good)
• GLC should release their non –core business to let private sector well marketed (Is Petronas going to sell off PJH, or maybe Sime Darby will sell off their nursery)
• A panel to evaluate the private bids for government asset will be set up.
(some kind like tender board, so I guess more transparent)
• Some potential land lots in KL at Jln Ampang , Jln Lidcol will be tender out to private sector to be developed (more skyscrapers and traffic jam, so for everybody who works in KL , don’t take Smart Tunnel after this)
• A new township and would be develop as a new commercial hub somewhere in Sg. Buloh with corporation of EPF ( more jams, if you have money now , just buy the properties there, it will be a good investment)
• Percetakan nasional, CTRM Aero Compiosites, Nine Bio will be privatized soon
(New pay scheme for them)
• And the last one , two of Petronas subsidiaries will be list at Bursa Malaysia this year.
No wonder past few months we’ve been listen to some this news at most mainstreams news paper.
News such as Ananda bought over all the Astro shares, cooperation between Malakoff and TNB for the utilities project in Saudi. It’s all just to increase the liquid shares.
I just hope this model will be success soon and it will benefit all levels of public. Hopefully those people who makan gaji like me can fully utilize of the government benefits and can maximize our purchasing power.
