BREAKING NEWS The government has unveiled a RM60 billion stimulus package today as it attempts to arrest the export-driven economy's slide into recession RM60bn

big U turn from 10b to 60b ... sounds more like a mega bail out compared to a mini budget?

Oh joy for ValueCrap

Final 15 mins of trading..

This post has been edited by aurora97: Mar 10 2009, 04:31 PM

I also saw the news just now. No detail ler!

60 billion, wow, more than what most people expected.

market doesn't even react positively towards the breaking good news.... what's wrong?

60 billion for second stimulate package...

Still in progress and announcing in Parliment, no all details yet.

Just know company employed retrenched employee can get double relief on the salary paid.

Najib bentang bajet mini RM60 bilion
Mar 10, 09 11:11am
kemaskini 4.15pm Pakej rangsangan kedua yang sedang dibentangkan di Dewan Rakyat oleh Menteri Kewangan Datuk Seri Najib Razak bernilai RM60 bilion, jauh melepasi jangkaan awal RM10 bilion.

Pendedahan itu mengatasi ramalan awal pakej itu yang dijangkakan sekitar RM50 billion atau RM35 bilion.

Jumlah itu akan dibelanjakan dalam tempoh dua tahun, hingga 2010, jumlah besar "yang pertama dalam sejarah ekonomi negara."

Najib membentangkan rang undang-undang itu, bagi menampung bajet 2009 yang diumumkan tahun lalu, bermula jam 4 petang ini.

catch updates at http://thestar.com.my/minibudget/

and http://m.themalaysianinsider.com/

This post has been edited by panasonic88: Mar 10 2009, 04:38 PM

"I am pleased to announce that the Government will implement a Stimulus Package totalling RM60 billion. The package will be implemented over two years, 2009 and 2010. Of this amount, RM15 billion is fiscal injection, RM25 billion Guarantee Funds, RM10 billion equity investments, RM7 billion private finance initiative (PFI) and off-budget projects, as well as RM3 billion in tax incentives. This RM60 billion accounts for almost 9% of the GDP. The implementation of such a large stimulus package is unprecedented in the nation’s economic history."

wow...just been told bout the 60B.....walauyeh....m'sia so rich one ar??

KLCI recovering so fast

Malaysia not rich, but Malaysian are indeed very rich.

Domestic liquidity in the banking system should be able to fund that, remember deposit in local banking is still increasing even in this difficult economy situation.

Gov will issue 5 billion of 3 years bond carry 5%, people will rush and queue to buy those bond, which is opened to Malaysia above 21 years old, min 1K, max 50K.

FKLI turns green...

ya.....got bond...5%....not bad.....good idea to park the money also.....time to shift fund to join my dad in the bond bandwagon

same goes to my portfolio.

turning green or price unchanged.

"RM 10 Billion for equities....."

Can someone tell me what they'll plan to do with this money? buying shares via valuecaps?

I don't really agree with this, aren't putting money for infrastructure investment a better idea? For example, instead of using 1 billion to buy gamuda shares, i can use the 1 billion to extend the LRT, which will benefit the listed companies through the awards of projects?

It's like giving a fish, and teaching them to fish.

Funny. I thought the bond is one of the source where gov get money from (Rakyat)?

Nola its either cooked or stir fried or steamed according to taste and serve on a silver platter and fed by butlers to their mouth, someone is going to grow very fat... while the rest starve to death figuring out how to fish...

maybe aldy burned the money la in equity if not..u think the index still so high meh