Oct 22 2018, 12:09 PM
QUOTE(icemanfx @ Oct 21 2018, 04:33 PM)
46,702 UHNW and HNW individuals collectively only amount to 0.2 per cent (not even the proverbial 1 per cent) of the 21.372 million adults in Malaysia.
The remaining 99.8 per cent Malaysian adults have a wealth that either touches or falls below US$1 million (RM4.16 million), with the bulk or 60.6 per cent with wealth below US$10,000, while 36.2 per cent have wealth of US$10,000-US$100,000, and three per cent at the higher wealth range of US$100,000-US$1 million.
Malaysia also has a relatively high Gini index value of 82 per cent based on the wealth distribution patterns among Malaysian adults, which suggests high wealth inequality.
https://www.malaymail.com/s/1685061/malaysi...-whos-wealthier
Malaysians are not as rich as most thought.
I believe the article GROSSLY UNDERESTIMATES the number of UHNW and HNW individuals in Malaysia. Does the estimated net worth include those individuals with properties overseas eg Australia, US, Canada, UK etc etc ? The KV, not to mention Penang as well other states have very expensive properties owned by individuals who have long since paid off their mortgages. I would humbly suggest the number of HWN individuals would be conservatively TRIPLE the number stated in the article.The remaining 99.8 per cent Malaysian adults have a wealth that either touches or falls below US$1 million (RM4.16 million), with the bulk or 60.6 per cent with wealth below US$10,000, while 36.2 per cent have wealth of US$10,000-US$100,000, and three per cent at the higher wealth range of US$100,000-US$1 million.
Malaysia also has a relatively high Gini index value of 82 per cent based on the wealth distribution patterns among Malaysian adults, which suggests high wealth inequality.
https://www.malaymail.com/s/1685061/malaysi...-whos-wealthier
Malaysians are not as rich as most thought.
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