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.

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.

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.

F&B franchise. I think you're mixing up employees & employers, and yeah, that 20% definitely benefit government more (or rather cronies, since they can quietly lobby for that investment, but let's not go there). But it not benefiting employees is technically correct, companies would just deduct it from someplace else (lower benefits, insurance, etc.), those that can't will reduce headcount, etc. Things can't be conjured out of thin air.