nobody I speak to say economy is ok

Gomen servants and glc employees are immune from economic recession e.g ioi city mall will remain vibrant regardless.

This post has been edited by icemanfx: May 10 2023, 11:26 AM

some ok some not ok...
you see the nasi lemak akka business good or not

alot are operating on a loss. Pre MCO get tender and projects, stop during MCO and when able to start again, supplies and material prices went up. Labour shortage is also a very critical problem. Manpower cost also went up.

contractors no choice but to continue work until project is completed.

During COVID19, people's purchasing power were artificially inflated due to moratorium and KWSP withdrawals.

Imagine you suddenly got extra 20-30k cash in your hands and still able to earn as usual, all spend like crazy. So certain businesses that suddenly earn a lot, assumed that the spending trend will continue even after COVID19 so they expanded their business or made expensive purchase.

My friend opens up a bicycle shop during COVID19 but now complaining business are slow. Niama, sudah open shop then go buy Vellfire because business are so good now regret lol.

Now endemic phase where everything is slowly returning to pre-covid era, a lot of those fellas who overspend are feeling the pinch. Hence keep on crying to the Govt for another round of KWSP withdrawal.

Hopefully whatever non controlled item prices that went up crazily during COVID19 will back become cheaper.

bad if compared to last year. a lot of businesses benefitted last year from the epf withdrawal.

This. People thought economy strong is because fundamentals strong, padahal 150b of EPF money is what made the economy looked strong. Time to face reality.

This post has been edited by Sihambodoh: May 10 2023, 03:48 PM

The only business that is good is fnb

You got to be kidding

Its one of the hardest to survive.

Ppl claims Kenny Hills Bakers are always full with crowd regardless which branch. That claim was inaccurate in my opinion. The photos below showed otherwise :-


The staffs got time to stand at the front entrance looking/waiting for the customers to appear.





This branch at IOI City Mall occupancy rate during lunch hour was only around 30% the most from my observation during lunch hour on weekdays. They relies heavily on weekend sales.

Malaysia’s 2023 GDP growth forecast is at 4.0% and inflation to remain elevated.

For Malaysia economic growth is set to slow down in 2023 as global economy is expected to experience a mild recession.

“Withdrawal Syndrome” after “Sugar Rush”

Most businesses will harder next year.
Brace yourself on the Banking Crisis if they failed to manage.

Waiting game right now for myself as small time employer, because of rumors of further OPR hike, 20% employers EPF and further increased in min. wage (+ subsidy cuts post-election later). If math really don't check out may have to reduce headcount.

Quite scary hearing other businesses reducing left & right, less & less employment & money in the market.

Still dun think the banking crisis is going to be this bad over here as we still follow islamic principals.

But most people dun really think and actually thinks that 20% employer EPF and further increase in min wage is a good thing.

And what is sad is, they eventually increase the EPF min age and decide to pay monthly payments for EPF. Then you give 20% also no use.

I really laugh to be honest at all these.

This post has been edited by BrookLes: May 10 2023, 09:59 PM

Most experts say that it has "limited impact on Asian markets".
I'll say that Banking Crisis is contagious.

Almost every week got F&B biz at Sri Petaling seeking takeover.

Note the difference between takeover & shut down.

Takeover:
-under tenancy, if void contract will lose deposit, usually 4 months.
-can recoup back some funds that're spent on tools, equipment, furniture & interior design.
-staff still employed, no need to compensate them.

Shutdown:
-usually tenancy gonna mature.
-need to restore unit back to original state before return to landlord.
-layoff permanent staff.

After MCO in 2022 good - epf withdrawal + excess money due to MCO.

2023 is bad bcs epf and excess money all gone already.

We all know this is going to be temporary and there will be repercussions later on.

Sorry, can you elaborate the word in bold? Don't quite understand.

Anyway IMHO the worst of them all is EPF. Employee take home salary is the same, but business operation cost increases causing business to past that cost to consumer, causing even lower purchasing power as price increases. Definitely not the right time when the current economic downturn still doesn't have the light at the end of the tunnel. Not to say things like those aren't a good thing, but the timing couldn't be worse.

But I paling kesian is retiree / pensioners. They're mostly on static savings / pensions but these past few years of inflation gonna eat them up. It's also very difficult for them to find jobs at those age, whether because of they themselves or the employers (can't teach an old dog new tricks stigma) so they don't have much options.

Food is good, but too expensive IMO.

I frequented a lot of fnb before, but now rarely as prices keep going up. Very hard to find a decent meal under rm20 in malls nowadays. Even KFC dinner plate is RM23+. A cup of atas coffee easily RM10++

Very simple. Just follow Singapore style of only above 60 years old CPF will pay and they dun pay everything but month by month.
So end up those people still have to work even when above 60 years of age.
And worse still if say they estimate that your lifespan is say until 100 years when the actual average age is 70 years.
So even though it appears EPF have more but actually the person receiving the EPF still have to work despite accumulating a lot.
Which defeats the purpose.