BUKIT LANJAN: Don’t be irrational, accept facts and figures on economic growth


BUKIT LANJAN: Don’t be irrational, accept facts and figures on economic growth
To the political doomsayers who continue to rubbish Malaysia’s economic recovery or positive economic indicators, so be it.

Many still cast doubts over statistics that show Malaysia’s Gross Domestic Product (GDP) is on track to a 5% growth this year, up from 2016’s 4.2%.

They also ignore the fact that the Kuala Lumpur Composit Index (KLCI) has also expanded 7%, thus far, this year.

“Now, Malaysia’s Statistics Department has reported that the country’s manufacturing sector’s output value had risen to RM1.14 trillion in 2015 compared with 2010’s RM836.5 billion,” Gerakan Deputy Speaker Syed Abdul Razak Alsagoff said.

“This means there was a 6.4% compound annual growth rate (CAGR) value per annum,” he added.

“Why do some Malaysians still continue to not see and accept the statistics? Why do they continue to be politically emotional and turn a blind eye to Malaysia’s positive economic growth indicators?

“That is a very irrational behaviour. You have to accept facts and figures. This is not about politics, it is about our economy,” he added.


Syed Razak, who is Gerakan’s nominee to contest N.37 Bukit Lanjan in the coming 14th General Election (GE14), said Malaysians needed to allocate more energy and time to economic activities instead of politicking.

“It’s absolutely unproductive to be politically emotional and partisan. Spend more time and energy on work, this will generally contribute to nation-building and ensure Malaysia’s economic progress,” he added.


Here’s what was reported by Malaysia’s Statistics Department as posted by The Star Online:

"Business News
Home > Business > Business News
Monday, 10 July 2017 | MYT 5:37 PM

Manufacturing sector’s output value rises to RM1.14 trillion

KUALA LUMPUR: The gross output value of the manufacturing sector rose to RM1.14 trillion in 2015 compared to RM836.5bil in 2010, with 6.4% compound annual growth rate (CAGR) value per annum, said Malaysia’s Statistics Department.

In a statement on Monday, the department said the gross output value in 2015 was the best achievement by sector under Economic Census 2016.

It said the electrical, electronic and optical products sub-sector was the largest contributor with RM322bil (28.2%).

Petroleum, chemical, rubber and plastic products was second largest contributing sub-sector with RM299.1bil (26.2%) followed by vegetable and animal oils and fats and food processing sub-sector recording RM199.8bil (17.5%), it said.

The Statistics Department said in line with the rapid growth in gross output, the value of intermediate input also increased by RM219bil to record RM884.8bil or CAGR of 5.9%.

“This resulted in an added value of RM257.1bil for 2015. During this period, the number of establishments recorded an increase of 9,432 or CAGR of 4.4% and the number of employees in this sector reported a 3.2% increase in CAGR with 2.12 million persons compared to 1.81 million persons in 2010,” it said.

Meanwhile, the department said, the salaries and wages paid in 2015 amounted to RM65.5bil compared to RM43.7bil in 2010.

It said in 2015, 9,546 women-owned establishments in the manufacturing sector accounted for 19.4% of the total establishments in the sector.

For women-owned establishments, the value of gross output and value added recorded were RM16.7bil and RM4.2bil respectively. A total of 86,051 persons were employed with RM2.1bil salaries and wages paid, it said. - Bernama"


N.37 LET BUKIT LANJAN SOAR WITH SYED ABDUL RAZAK ALSAGOFF

Comments

Post a Comment

Popular posts from this blog

BUKIT LANJAN: What will happen to those who can’t think out of the box, can’t change or can’t evolve?

Image
An oil drilling platform operated by Statoil ASA in the North Sea near Bergen, Norway. The country is Europe’s dominant producer of oil. CreditKristian Helgesen/Bloomberg, via Getty Images Norway’s Wealth Fund Considers Divesting From Oil Shares By  CLIFFORD KRAUSS NOV. 16, 2017 Norway’s $1 trillion sovereign wealth fund is considering a divestment of holdings in international petroleum companies, a sign that even Europe’s dominant producer does not have full confidence in oil’s future. The recommendation on Thursday by the Norwegian Central Bank, which manages the fund, is potentially the biggest advance yet for a global fossil-fuel divestment campaign that has been promoted on college campuses and by environmental activists. It could also be a setback for the proposed initial public offering of the Saudi national oil company, known as Aramco, since the Norwegian sovereign wealth fund, the world’s largest, would be a potentiall...
Read more

BUKIT LANJAN: Graduates getting employed through connections and status? That’s very unhealthy!

Image
Unemployment in Malaysia [Infographic] Michelle Leo 19 Jan 2016 / Career Planning , Infographic , Jobs , Unemployment “Study hard. Get a degree. Find a good job. Live happily ever after.” Sounds familiar? Every year, over 200,000 students graduate from institutions of higher learning . Shockingly, 1 out of 4 graduates remain unemployed 6 months after graduation, with the majority being Degree holders. These graduates make up 35.3% of those who are unemployed . Here’s the hard truth — being a university graduate no longer guarantees you a job. As the number of graduates continue to climb each year, students are facing tough competition amidst a shaky economy. In this infographic, find out the truth behind why fresh graduates are unemployed in Malaysia, and learn about what you can do as a student to increase your employability! … for more, go to https://eduadvisor.my/articles/what-didnt-know-fresh-graduate-unemployment-malaysia- infographic/ BUKIT LANJAN: Graduates getting employed...
Read more

BUKIT LANJAN: DOSH and all related construction authorities must buck up

Image
BUKIT LANJAN: DOSH and all related construction authorities must buck up It is quite obvious that something is not very right with the way the Department of Occupational Health and Safety (DOSH) and all related construction authorities are monitoring work safety at construction sites. There have been quite a number of tragic and non-tragic incidents at construction sites recently and yet accidents continue to recur despite DOSH’s claims that it has set up safety committees to tighten inspections. Gerakan Deputy Speaker Syed Abdul Razak Alsagoff said: “There was the woman who was crushed to death by a crane hook that fell on her Perodua Kelisa from 20 storeys up. “This was followed by the collapse of the KL Eco City pedestrian bridge that claimed a life. And now a crane has collapsed at the Bandar Damansara Perdana (BDP) construction site.” Syed Razak said such tragic and non-tragic mishaps at construction would not occur or could have been avoided if high and competent constr...
Read more