Savings!

I need to start saving for the following once I have my first paycheck onwards:

1. ACCA tuition and exam fees;
2. Paying off my PTPTN loan;
3. Giving some allowances to mom;
4. Buying a new camera;
5. A new purse (my current one is worn out);
6. A new phone (my current one is kinda worn out and the keypads are getting hard-to-press);
7. Saving for a car/house (this is more like in the future);
8. FOR THE COMING FUTURE!!!

Suddenly, I felt so grown up with so much more responsiblities…and so much to spend! Oh no….!!!

 

Malaysia Adds $2.7billion Into The Economy

Malaysia’s government unveiled plans Thursday to inject RM10billion ($2.7 billion) to stimulate the sagging economy and evert a recession.

This will bring a total stimulus spending to 17 billion ringgit after a 7 billion package announced in Nov. But some economists warned it may be insufficient to keep the recession at bay.

*extracted from Wall-Street Journal Article (060309)*

[02:49 pm]

 

Malaysia GDP Rates Drop Sharply

Gross Domestic Product / Gross National Income	2007p	2008p 3rd Quarter	2008p 4rd Quarter
Gross Domestic Product (GDP): Current Prices (RM Million)	641,864	198,653	177,342
Gross Domestic Product (GDP): Constant 2000 Prices (RM Million)	505,353	136,211	131,261
GDP Growth Rate Constant 2000: Prices ( %)	6.3	4.7	0.1
Gross National Income (GNI): Current Prices (RM Million)	628,106	192,845	n.a
Per Capita GNI: Current Prices (RM)	23,115	27,674	n.a

Gross Domestic Product/Gross National Income (Updated 27 Feb 2009)

Source: Dept. of Statistics Malaysia

I am supposed to be doing my International Finance (IF) assignment, about Toyota with its current issues – how the operations being affected by the Balance of Payment (BoP) and exchange rates of Japan and other host countries. Anyway, I am doing it…as by looking through info which I could put in. So I came across this particular matter about M’sia on the Wall-Stress Journal Article on the 2nd March.

It seems that our country’s GDP has dropped drastically. Our prime minister said that a ‘much bigger’ spending packagge is coming. Last year, Malaysia announced plans to pump in $2billion to the exonomy, but it too  small compared to Singapore which plans to spend %13.8 billion and Thailand – $8billion.

Our exports has fell 15% in December from a year earlier as global appetite for Malaysia’s electronics products and commodities such as palm oil fell.

=.=”’

And Toyota doesn’t seem to be doing that well too…(well, relatively most of the companies aren’t including GM, Honda etc…)

[11:24 pm]

 

Reducing and Raises…

• U.S. President, Mr Obama is reducing the withholding tax in order to encourage spending to pull up the economy downturn.
• Thailand is seeking Vietnam’s help to stabilize the rice prices. It seems that the rice prices keep dropping which may be good for poor consumers, however it might lead to significant losses for farmers and discourage them to expand their crops – could cause price surges in future.
• Goodyear Tire & Co is planning to slash another 5000 jobs, freeze salaries and pursue assets sale.
• Walt Disney Co. will restructure its U.S. theme park operation, in part by making unspecified number of layoffs, amid languishing attendance and sharply reduced income.

There are soooo many more like how Wal-Mart’s profit had gone down etc etc…Oh only managed to scan one, Nestle S.A is doing well for their 2008 profits although economic downturn was arising since the last quarter of 2008.

[09:55 pm]

 

The Crisis

Everyone in the world, or at least most of us are shaken by the global economy crisis. Honestly, me being an Accounting student (business field) seldom reads about what is happening around the world. Although I subscribe Times and Fortune, I hardly read them since the past two semesters at all!

I do go to the library occasionally to read the Edge though, which is more about what is happening in Malaysia itself.

Anyhow, most of the economists said that it would be hard to recover in this year. I’ve heard of many audit firms are now freezing their recruitment intakes. Wall Street Journal Article which was forwarded by Weiqi was as interesting to glance and read through some. (Mr Ng said Yr3 students should have free subscription each from UTAR…hmm…I want mine too).

There are news at such:

• Nissan Motor is moving to China to manufacture their cars cheaper.
• AIG in Japan will be selling their 15-storey in order to payoff their US taxpayers for a ballout in September.
• It seems that Japan and China are playing crucial role in helping the economy downturn (since a lot of mentioning about these both countries and how Japan is offering $100 billion in emergency aid to IMF (International Monetary Fund).

It is rather fun and interesting to read (not all), but ya…It is like what you have learnt in class comes alive :) like the IMF thingy which I learnt in Business Finance and International Finance at current.

Well, just want to scribble something different for the time being so I guess this is my first “Economy” post. Will try to write up more on this category.

[07:53 pm]