What's the negative effect of MM2H?

Home Minister Datuk Seri Hamzah Zainudin in a parliamentary reply said that the criteria revision for the MM2H programme was made to attract high-quality participants who can contribute positively to economic growth.

Maybank Investment Bank group chief economist Suhaimi Illias says that the number of MM2H participants makes up a fraction, around 0.01%, of cumulative foreign tourist arrivals since 2002.

“Consequently, their economic contribution is also very low when we look at the ringgit and sen, for instance, as ratios to gross domestic product (GDP), consumer spending and the banking system’s total deposits,” he tells The Edge.

Kick out higher income n educated foreigners and keep low income and uneducated foreigners

You see, this is exactly the reason why I said flip flopping will cause damage.

If it has been communicated clear from the beginning that current holders are not affected, there’s no hoohaa to begin with.

It is definitely fair to impose new regulations to new applicants as policies are decided based on the current circumstances. But never apply retrospectively!

The damage to the trust of the government has been done. This will affect the country more than the RM48bil that would allegedly be lost.