Sign up | Log in



 19 Jan 2009

Related Stories

January 11, 2009
Malaysia Economic Outlook 2009:
Domestic demand critical to growth

December 23, 2008
Malaysia: Job losses seen rising in next 3 months

December 3, 2008
Malaysia trims fuel prices amidst slowing economy 

November 16, 2008
Malaysia faces no recession, currency to rise – central bank

Malaysia: Temporary layoffs seen at 45,000

Malaysian companies look set to put around 45,000 workers on a temporary layoff or short time work over a two- to three-week period around the Chinese New Year so as to cut output, reported Reuters.

"During the period, the factories will be on holiday for two to three weeks and workers have been asked to take leave. Some are on paid leave, and some are on no-pay leave," Human Resources Minister S Subramaniam was quoted as saying in the Sun newspaper.

According to the latest official data, Malaysia's unemployment rate stands at 3.3 percent.

Malaysia is exposed to the global slowdown as it exports the equivalent of 100 percent of gross domestic product and many private sector economists now say that the country will fall into its first recession in eight years in 2009.

The government remains optimistic that the economy will grow 3.5 percent this year however.

The government has already launched a $2 billion stimulus package and leading economic thinktank Malaysian Institute of Economic Research (MIER), which last week cut its growth forecast for this year to 1.3 percent from 3.4 percent, said more would be needed.

It says that additional pump priming measures worth 7 billion ringgit ($1.96 billion) to 10 billion ringgit ($2.80 billion), could be announced by mid-2009.

However, another defeat for the government in a by-election at the weekend signalled that electors were becoming restive and the government needs to take swifter action on the economy, according to a report from TA Securities on Monday.

"On the economic front, the government pump-priming measures need to be expedited (to boost) domestic expansion to cushion the damaging impact of faltering exports growth on an open economy like ours," TA said.

"We are not only behind the curve in disbursing the allocation under the 9MP (ninth Malaysia Plan) but also the recently announced 7 billion Malaysian ringgit stimulus package," it said.




Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited

submit your comment in the box below 





1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand