Founder of HWCM

Wednesday, July 9, 2008

Tougher ahead

BNM has reduced our GDP projection for FY2008 from 5.9% to 5.1%. Although it is just a floating point difference, but it actually meant a lot to the country. This means besides oil & gas and palm oil, the rest of the industries may not do well this year.

Next is our inflation rate jump from 2.8% to 4.9%. We know this is due to the high oil and food price in the global markets. Government can’t do much by putting more control on the foods subsidy and ceiling price. But what concerns you should be your salary increment. If your increment is lesser than the Inflation rate, you wouldn’t maintain your living expenditure.

Speculation anticipates BLR rate will increase to 8%. This will kill us by extra money you need to commit to your loans with BLR calculation, this normally includes your housing, overdraft and personal loan. But of course to the bright side, if you have tons of FDs in banks, they will make you richer by paying more interests to you.

Lastly, although is tougher ahead, there are still people turned into millionaire. There is no secret formula for millionaire, instead, you need to know how to reserve your cash and invest to the right fields.

So, if you ask me whether our toy collection is correct field? I will leave the answer open to you. Cheers, YeoCP//

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