Malaysiakini, as usual, is one of the first media to report that the Malaysian government has tabled a whopping RM60 billion stimulus package in Parliament this afternoon, to combat the contracting economy. This is equivalent to 9% of the Malaysian GDP of 2008.
The stimulus amount is truly a "shock and awe" that defies even the most bullish estimates (last estimate was RM30 billion).
The stimulus package is time-released over the next 2 years. As reported by Malaysiakini:
The package, which is equivalent to 9 percent of last year’s GDP, is broken down as follows:
The package, which is equivalent to 9 percent of last year’s GDP, is broken down as follows:
- RM15 billion in fiscal injection
- RM25 billion in guarantee funds
- RM10 billion in equity investment
- RM7 billion for private finance dinitiative and off-budget projects
- RM 3 billion in tax initiatives
Let's wait for the details shall we?
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Update: I'm doing a link to the Star Online report that also contains the full text of Najib's speech. This way we can review the RM60 billion package properly.
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Update: I'm doing a link to the Star Online report that also contains the full text of Najib's speech. This way we can review the RM60 billion package properly.
9 comments:
Its not great..doesn't address the core group that will be affected.The number sounds big but its guarantees and showboating.
Nothing to ease cashflows for the rakyat..boost consumer confidence..too much dependence on the private sector to create jobs..and Rm 10 billion for Khazanah to invest?
No Sir...nothing innovative,,same old same old.
Thumbs down pls
wat u think bro?
will market bite it tomorrow?
a large part are guarantees which are contingent..so would the actual stimulus be 60 - 25x(potential claim %)
I'm very negative on the 10billion investment allocation...
De minimis,
What is new in this Bolehland & our Blur, Blur Jaguh Kampung PM Wannabe/Finance Minister....
- If He can just “Swallow his False Pride, be Honest & Sincere” to acknowledge & admit....
- the “Whole Nation and the World” will be with us to HELP out!
- We only have to “Look, Acknowledge, Ask and Learn” from our neighbour down South
- their TESTED, TRIED and PROVEN solutions which have “ENDURED THE TEST OF TIME”
- DYNAMIC and RESILIENT SUCCESSFUL POLICIES, ECONOMY, ETC.
- Even their SEVERAL Decade old Successful Cost Effective 2 - 3 year National Service Model for the FUTURE NEEDS of the nation, with no “Surplus to Needs”
- After graduation from their Military, Police, etc Bootcamps
- They are Ready for the nation's “Battlefront” duty ANYTIME!
- Our Southern neighbour adopts the best criteria Brains, Politicians, Implementers, etc with Academic, Professional,
- With Long and Proven Track performance of “Excellence”, who are “Accredited and Remunerated” very well (from a few hundred thousand to more than a Million Singapore Dollars per annum) with “Structured Job Specs” in this 21st century context...
-....and they DELIVER!
- Sometimes Foreigners (Asian first, then others) are taken for a short contract period to “Groom” the Local “Best” personnel.
- Every National/State Project - DELIBERATION/Decision/ Implementation for the Nation, State and its People are “COST EFFECTIVE” and “NOT SURPLUS TO ACTUAL NEEDS”!
- As such no squabbles & disputes...
- Right person for the job at hand!
- Integrity and Accountability
- Either “deliver or else you are out”.
- With such a Policy in place...
- Their Senior Political Leaders, Politicians, Generals, CEOs, etc do not even have to be seen....
- but everything runs the way it should for the nation and its rakyat’s “Guaranteed Basic Needs”.
- In this Bolehland it is the reverse!
- They are the “True Leaders” involved in the “Bigger Vision” for the Nation’s International Political, Security, Economic, R & D, Manufacturing, etc Policy and Standing...
- The DBS, MAS and Termasek together have financial “Reserves” of more than 600 Billion Singapore Dollars.
- For a small nation, they HAD acknowledged, deliberated, identified and mobilized an “INTELLIGENT, STRUCTURED and DYNAMIC” contingency financial plan IN EARLY 2009, to mitigate this financial meltdown
- Ensuring a "MEANINGFUL Package" is ADDRESSED for its CITIZENS to CREATE a POSITIVE "CASH FLOW" & not for Corporate & Institutional "RESCUE & BAILOUTS"....
- to ONLY WET their "Huge Gaping APPETITE" with no Capital & Cash flow at the Userend "CITIZEN'S" strata.
- They have an initial package of 20.5 Billion Singapore Dollars and they are “Rock Solid” with their cash reserves of 600 Million Sing!
- Versus our Bolehland's 1st Stimulus package of RM7.0 Billion & now RM60 Billion Stimulus Package .....
- I say this - TOO LITTLE TOO LATE Mr Wannabe...
- Kindergarten Jaguh Kampong Economics & Finance Planning
- RM 67 Billion for a country our size with its Deficits, Bail outs, etc with ??? Reserves???
- Vs Singapore with its initial package of 20.5 Billion Singapore Dollars and they are “Rock Solid” with their cash reserves of 600 Million Sing!
- Almost 30 times Reserve Stimulus packages available! )
- Anyone in Singapore involved in “Graft, Corruption, etc” would rather “Self-Destruct” than have to face the Senior PM and their peers.
- With the Global Financial Meltdown, NO Country or Government can understand & appreciate the "Actual Impact" to the "Nation" & its "People" until they get hit "Hard" like "Iceland."
– and Malaysia could join the many, many more to come!
- The then Icelandic Government "ACCEPTED THEIR FAILURE NOT THROUGH CORRUPTION THOUGH"....
- thereafter HONOURABLY & "GRACIOUSLY STEPPING DOWN ENBLOC"
- A "New Government is now in place" to "Salvage" the nation!
-Whilst the G20 Presidents, PMs, FMs, Governments are strategising & synergising their positions on the GLOBAL FINANCIAL "Chess Board"....
- there is still no "Intelligent, Structured Contingency" plan nor Quantums" in place in this Bolehland...
- The UMNO/BN Leaders are still in “Denial” even at this 11th hour of our nation’s "Double Whammy, Political & Financial Tsunami” at our doorsteps....
Our PM & Finance Minister/PM wannabe & their “Political Mecenaries” are still...
"Quarreling with PR & Anak Bangsa Malaysia with their Law of the Jungle & Gutter Politics Jaguh Kampong ala KINDERGARTEN style & still playing with MARBLES" when all the other nation's Presidents, PMs & FMs are playing "CHESS."
This Bolehland has a “Long” way to go with their “Blatant Denials” & “Childish Charades” even at this eleventh hour, to be able to catch up!
We the "Rayaat" have to be "Proactive" and it is a matter of "What can I do for myself & my family NOW" rather than...
- "Ayooo...will the gomen help me....
- How to live with no job, no money lor ?....
Very SOON it is “Every Man for Himself” when it happens!
So consider “Repositioning” yourself and family financially, professionally (career/job), etc, fasten your “Seatbelts” tight, to safely ride this Tsunami!
May God bless and protect this nation and its rakyat.
Deminimis,
I would like to share this with you & your readers...
http://futurefastforward.com/
THE FEDERAL RESERVE IS BANKRUPT - HOW DID IT HAPPEN & THE UGLY CONSEQUENCES - By Matthias Chang (11/3/09)
"OUTLAW THE SHADOW BANKING SYSTEM!" - GUESS WHO SAID IT? - By Matthias Chang (8/3/09)
"RUN ON UK" SEES FOREIGN INVESTORS PULL $1 TRILLION OUT OF THE CITY - BANKING CRISIS UNDERMINES BRITAIN'S REPUTATION AS A SAFE PLACE TO HOLD FUNDS - By Sean O'Grady (8/3/09)
"Outlaw the Shadow Banking System!" - Guess Who Said It? - By Matthias Chang (8/3/09)
Matthias Chang
Saturday, 07 March 2009 10:20
When I read the remarks of President Obama and Prime Minister Gordon Brown after their meeting at the Oval Office on March 3, 2009 and the speech of the latter to the Joint Session of Congress on March 4, 2009, I realized that a growing antagonism has emerged between certain factions of the ruling elites in the City of London and in Washington DC.
The first warning of the acute differences was sounded by President Obama himself and it was most surprising that the mass media paid hardly attention to it. In his weekly address on February 28, 2009, President Obama said:
“I realize that passing this budget won’t be easy. Because it represents real and dramatic change, it also represents a threat to the status quo in Washington. I know that the insurance industry won’t like the idea that they’ll have to bid competitively to continue offering Medicare coverage, but that’s how we’ll help preserve and protect Medicare and lower health care costs for American families. I know that banks and big student lenders won’t like the idea that we’re ending their huge taxpayer subsidies, but that’s how we’ll save taxpayers nearly $50 billion and make college more affordable. I know that oil and gas companies won’t like us ending nearly $30 billion in tax breaks, but that’s how we’ll help fund a renewable energy economy that will create new jobs and new industries. In other words, I know these steps won’t sit well with the special interests and lobbyists who are invested in the old way of doing business, and I know they’re gearing up for a fight as we speak. My message to them is this:
“So am I.”
bro satD
Market reaction may be positive...for a day or, two or, three. But, what is market reaction anyway? A "herd mindset" that hardly impresses.
And, we need to bear in mind that the mini budget speech was couched with a bleak outlook. That kind of reality scares the crap out of the cowardly investors.
The market will hesitantly "bite" on Wednesday. It may even chomp. But, the possibility of bulimic reaction post-ingestion is high.
It is the target areas of the real economy, the multiplier effect and long-term effects on restructuring that we need to look at. The cliched expression that applies here is that the "devil is in the details" and, the implementation of the mini budget.
I'm actually positive on this budget - it's more medium term to long term initiatives rather than short term, which is exactly what is called for under the circumstances. Even the tax rebates and allowances will come in over a three year period, which spreads the effect across what I expect to be the duration of slowdown.
That said, RM10 billion for equity investment is a waste of resources.
Still not enough data to provide an analysis? I noticed that satD has also yet to make an analysis - was hoping to `cedok' some of your points for my own pseudo-economics post heheh! Guess I'll have to wait.
But there's this urgent need to be armed with some material when I go to the kampung coffeeshop this evening - have to try impress the pretty janda-owner of my savvy economics knowledge, faked that it is (the presentation, and how confident and smug you are, besides coming across as solemn is a surefire way to convince the coffeshop crowd).
Well, looks like I'll just pirate some of what flyer168 says here - that should hold me in good stead for the time being. Perhaps I should also `main politik Umno' a bit and belanja the people there (teh `o' at 40-sen kampung price is worth the investment with the kampung folks and the janda )
pretty janda-owner?
say you disagree with the stimulus.
say you will show what real stimulus is all about in a graphical and enjoyable way (*cough*).
someone had asked, this subsidy for controlled items, is it right to add something administrative into the package (*cough*)?
also, this problem with schedular increases in toll rates, can the people know how they are computed to explain how come some of the toll concessionaires are drawing billions each year from poor motorists whose vehicles are jammed on paid highways? was that the intention from day one?
also, the equity injections; which gomen injects taxpayers money into stock markets during such time, and what amount of windfall will they give the people if the market goes up, and what amount of snowfall if it goes down?
it's all about stimulus and injection.
(*cough*)
Dear de minimis & Mat Chendana,
With the Global Financial Meltdown, NO Country or Government can understand & appreciate the "Actual Impact" to the "Nation" & its "People" until they get hit "Hard" like "Iceland." – and Malaysia could JOIN the many, many more to come!
Malaysia badly needs "Role Model" established Leaders & Politicians of HONOUR with Calibre, Maturity & Tolerance without Fear or Favour & NOT Political OPPORTUNISTS – on BOTH sides of the Political Divide.
Further this nation Desperately needs Intelligent, Time Proven Pragmatic Successful modelled, Financial & Politiical "SOLUTIONS" NOW on BOTH sides of the Political Divide, to MITIGATE the IMPENDING Political & Financial fallout.
Whilst the MATURED & INTELLIGENT G20 Presidents, PMs, FMs, Governments are strategising & synergising their positions on the GLOBAL FINANCIAL "CHESS Board"....
There is still no "Intelligent Structured Contingency plan nor Quantums" in place in this Bolehland...
The UMNO/BN Leaders are still in “Euphoria & Denial” even at this 11th hour of our nation’s "Double Whammy, Political & Financial Tsunami” at our doorsteps....
- Our Jaguh Kampung still playing with "MARBLES" when the World's G20 Leaders are are strategising & synergising their positions on the GLOBAL FINANCIAL "CHESS Board"....
- PRESENTLY our UMNO/BN Leaders "DO NOT EVEN Cross Talk" amongst themselves....
- Just HOW can they change their PARADIGM to ASK, LISTEN, ACKNOWLEDGE, REPENT, LEARN from the best Brains & Best Practices & Best TIME Proven SUCCESSFUL SOLUTION models....
- With the HUGE Resources OUTSIDE of their "Solution" Bankrupt Jaguh Kampung within UMNO/BN....
- From our neighbour Singapore & the World G20 Leaders who are Intelligently Brainstorming, strategising & synergising their positions on the GLOBAL FINANCIAL "CHESS Board"....
- Synergising & Harnessing their Best Brains & Best Practices SOLUTION Models....
- To LEAD their G20 nations & its people SAFELY out of this Financial Tsunami.
- This Bolehland has a “Long” way to go with their “Blatant Denials” & “Childish Charades” even at this eleventh hour, to be able to catch up!
Can they CONFIRM Honestly or by UMNO Hadhari's swearing To God Almighty....
- That UMNO/BN & its Leaders since 13 May 1969 have NOT committed ANY of the following :
10 Sins Against Humanity & Anak Bangsa Malaysia
Politics without Principles....
Religion without Compassion....
Power without Accountability....
Rights without Responsibility....
Business without Morality....
Development without Sustainability....
Knowledge without Character....
Science without Humanity....
Wealth without Work....
Enjoyment without Conscience....
At the end of the day, the UMNO/BN Leaders are having their "Orbs Squeezed" by their "CORPORATE & BUSINESS CROONIES" who are the "NEW MASTERS" of UMNO/BN.
My take on this whole Charade is..
- "TOO LITTLE TOO LATE, Mr Wannabe.
- For your Croony Masters & DEFINITELY not for the "Downtrodden Rayaat"
- Just how can you run this nation "Safely" (like any Decent father would for his family) when you have so many Skeletons to face at the coming UMNO Assembly Elections on 28th Mar, Nomination for the 3 bye-elections on 29th Mar, then the Elections on 7th April, etc, etc
- Didn't you notice why Pak Lah finally "agreed" to step down on 31st Mar....
That was planned & hatched by KJ & his 4th Floor schemers....
- For the Takeover on April Fool's Day....yes, it was a Joke the Desperate Wannabe did not even notice!
- Our Constitution's clause on the position of PM vs Party President...silent on DPM 's position, etc, etc
- Why now PM is meeting & having lunch with DSAI?
- You go figure out guys...
- Failing which....People’s Power will Prevail & We shall Overcome....
- My plea to all Anak Bangsa Malaysia.
- We are all concerned "Anak Bangsa Malaysia" seeking the "Truth" to restore Justice, Equality, Human Rights & Freedom ,
- "Malaysia for Malaysians" where every citizen can "Share & Dream" about, "Be given the Opportunity" to work hard towards that "Dream",
- For our young & our children - "To Achieve" that "Malaysian Dream"....
- through our own "Blood, Sweat, Tears, Intelligence & Wisdom" -
- self made/achieved "Anak Bangsa Malaysia"!
FORGET about the Politics & what ANYONE is saying...
- NO one can SAVE this nation nor its ANAK Bangsa Malaysia NOW...
- Be PROACTIVE with our God Almighty's gift of Intelligence, Ilham, Akal, etc to us all...
- Only WE can save OURSELF & OUR FAMILY & every man for himself....
- So please consider repositioning yourselves & family financially (mortgages, Loans, children’s educational expenditures, etc)...
- Rentals cheaper than >50% loans repayments; downsize your mortgages, cars/loans, etc.
- reposition your profession, career, jobs, etc;
- Remember every dollar is precious & "Cash is King",
- As such...my frenz....“Pleez Fasten your seatbelts tight” to safely rideout this "Double Whammy" Financial & Political Tsunami!
- Enlighten, Empower &...
- Make another Anak Bangsa Malaysia "Smile" tomorrow !
- Maybe the next time I will discuss the next Rehabilitation solution for this great nation....
Cheers.
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