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2008: Hard Year for Malaysian?

Year 2008 is probably a hard year for Malaysian. Toll price hike and increasing of oil price will lead our economy become sour with rise of inflation. Everything will be more expensive in 2008 from teh tarik to car spare part.

Unsustainable economy will lead private company tighten their company expenditure. Less bonus and salary for their staff will be significant impact for their cost of living.

Everybody will be afraid to spend more money; probably will cut their budget for entertainment, beauty, cars, housing and holiday budget. It will be a huge impact for entertainment, hotel and servicing industry. This is time bomb in Malaysia. A lot of demonstration series already started in KL. Malaysian governments must this issue seriously.

Secondary income is alternative way to solve this issue. Being part time blogger is alternative way to earn income from internet.

Less pay, bonuses for employees next year
source: The Star

PETALING JAYA: Employees may not enjoy the same salary increase and bonuses they received this year come 2008.

This was revealed in the Malaysian Employers Federation (MEF) Salary and Fringe Benefits Survey for Executives and Non-Executives 2007 here Thursday.

Speaking during a conference, MEF president Datuk Azman Shah said this was due to various uncertainties in the global market.

“Increasing oil prices and costs, coupled with business uncertainties in the global market, are making a huge impact.

“Our findings have forecast that both salary increase and bonuses for executives and non-executives may not match that of 2007,” said Azman.

The survey was carried out among 233 companies nationwide who are members of the MEF.

Azman said on average, employees were looking at a 5.74% (non-executive) and 5.69% (executive) salary increase next year compared to 6.25% and 5.77% respectively this year.

“Even the average forecast bonus in 2008 for non-executives and executives is lower by 0.26 months and 0.31 months respectively compared to 2007,” he said.