What the fuck? MM2H is not for pelabur la. They are mostly retirees. They don't really bring money to invest. They have to put that money in FDs only. It doesn't have a large economic impact besides maybe increasing the value of real estate in a few desirable areas.

Sigh, some people really stupid. Very hard to argue with stupidity.

This is not about investment, it's about retroactive application of regulations on current visa holders. Furthermore, with short notice! It's these kinds of flip flop knee jerk policy that investors large and small shun Malaysia!

Why can't these people understand that businesses and investors crave stability regardless of how stupid the policy is!

The same with the bumi equity policy. If you state it clearly in law and engage the stakeholders, business can plan around it. Not suddenly change here change there!

Shitty policymakers are just massaging their egos. Good luck Malaysia!

This post has been edited by kelvinlym: Sep 30 2021, 12:03 PM

Dude what are you mad about? Cool down your horses man.

I’m not against the policy nor for it. I’m saying this has nothing to do with investments in the country because MM2H economic impact is very low. They’re just retirees. I’m arguing with the person who said that DAP is against this because they want low grade investment into the country.

The impact is the flip flop policies which ruins the image of Malaysia being a place to do business which will affect the economy more.

Also, I can’t really understand your argument because of the grammar and sentence structure. Maybe try to improve it a little?

You’re saying we don’t want lower tier foreign labour which I partially agree, but those jobs have to be filled somehow.

When you were talking about the stupid initiative, is it about the MM2H policy overall or just the recent change in the requirements?

I agree that there is definitely a trickle down effect. The RM48bil impact as stated, I feel is a bit exaggerated. There were 48000 visa holders and he claimed each spends RM1 million a year? Most of the money is in FD only to satisfy the requirements. It’s not a direct translation of ringgit value to economic impact. The money has to be circulated to have an impact.

I do think that a further tightening of policy is up to the government of the day, but the knee jerk flip flop way of implementing will have a negative perception to the way the country is run.

They could have put out a clearer and smoother transition to lessen the impact on the visa holders.

That I totally agree. This policy doesn’t have a great economic impact and doesn’t affect housing prices in the affordable category due to the restrictions imposed.

Most Malaysians don’t have a strong grasp on policy making and economics hence they blame others on their inability to achieve their “dream” home.

And yes, the country should instead reduce our reliance on foreign labour but it’s a challenging problem. See what happened in UK, nobody wanted to become a lorry driver despite the shortages. If we reduce foreign labour and force local employment, it’s no guarantee that the B40 group will have the desire to pick up these jobs, even if wages increase.

I’m just irritated at the way the country is flip flopping and indecisive.

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.

This post has been edited by kelvinlym: Sep 30 2021, 01:28 PM