……..people’s grouse, concern and misdirection…..worried about the diminishing power of Malaysian Ringgit with sagging consumer confidence…
Malaysia has recorded a 4.9% advancement in Gross Domestic Product (GDP) by year-on-year in the 2nd quarter of 2015 over the same quarter of previous year (2nd Quarter 2014: 5.6%). On average, Malaysia has a good GDP Annual Growth Rate at 4.77% from 2000 till 2015, reaching an all-time high of 10.3% in 1st Quarter 2010 after recovering from a painful -6.2% in previous 1st Quarter 2009. This growth rate is most commendable as compared to economy meltdowns in Greece and Brazil at the same period.
At present, Malaysian sentiments are alleged to be held ravaged by GST, political divisiveness and corporate scandals. As at August 2015, the Malaysian Consumer Price Index (CPI) increased at 3.1% to 113.9 against July 2014 (110.5). The increment is contributed by higher prices with tax on Alcoholic & Tobacco (13.4%), Health (4.7%), Restaurant & Hotel (4.5%), Goods & Services (4.5%) and Food & Non-Alcoholic Beverages (4.2%).
On the other hand, the Malaysian Manufacturing statistics indicated a positive RM54.2 billion trade (in July 2015) with 67.5% labour force participation rate (people working) while unemployment rate stood at an acceptable 3.2%.
‘The Malaysian Ringgit – Navigating Turbulent Times” Oval Debate is scheduled on 11 Oct. 2015 (Sunday) at Auditorium University, Tower 2, Level 3A, Menara PGRM, Kuala Lumpur, Malaysia, starting at 2pm. This event will be officiated by YB Dato’ Mah Siew Keong, Minister of Prime Minister Department. The organizer is Socio-Eonomics Development Taskforce, Parti Gerakan Rakyat Malaysia
The agenda of the event is to discuss solutions in assisting Malaysians in overcoming the current economic challenges today. A number of 4 distinguished guest speakers are invited as the panel speakers;
- Mr. MICHAEL KANG – National President, SME Association of Malaysia
- Mr. MADHU SUDAN NAIR – National President, Kuala Lumpur & Selangor Indian Chamber of Commerce & Industry (KLSICCI)
- PROF. DR WONG KONG YEW – Malaysian Hospitality College
- Mr. DEREK WONG – Executive Director, KAC Advisory Service Sdn Bhd & KAC Penang Advisory Service Sdn Bhd
Topics of discussion include of the following subjects:
- Formula, strategies and best practices on strengthening “Ringgit Power”,
- Overcoming the inflationary pressures on prices, intelligently.
Consequentially, the distinguished speakers will talk about local spending as a way to eliminate the negative effect of foreign currency exchanges and long distance transportation costs. Some tips and know-how will be shared to attendees on controlling and managing costs of living during this Oval Debate.
Source: Strategic Communications, Parti Gerakan Rakyat Malaysia