The effect of world recession has arrived to Malaysia. The most affected industry are E&E seen most of its player is from the centre of the crisis, USA.
Starting from early 2008, many company start having problem with supply and demand. Since the collapse of Lehman brothers, investors became more careful in what they invest in. Follow by the decrease of value for 3 automotive tycoon in August. In November, Citibank has declared 50% drop of its share in the market. More issues grow even the Presidential Election has over. Can Obama change the situation (as per his campaign)?
In Malaysia, the country was first shocked by the shut down of a toy company in Penang, Nikko Electronics. More then 900 workers is unemployed. The latest is, Western Digital in Sarawak has seizzed its operation and more then 1500 workers is out of work.
Many economist predict that the worst is still not here. 2009 was said to be the peak of the slowdown. What it has to do with us? Well, government got income from these MNCs. They were source of income for our nation. Without them, the unemployment rate will rise, and the national income will go down.
Starting from early 2008, many company start having problem with supply and demand. Since the collapse of Lehman brothers, investors became more careful in what they invest in. Follow by the decrease of value for 3 automotive tycoon in August. In November, Citibank has declared 50% drop of its share in the market. More issues grow even the Presidential Election has over. Can Obama change the situation (as per his campaign)?
In Malaysia, the country was first shocked by the shut down of a toy company in Penang, Nikko Electronics. More then 900 workers is unemployed. The latest is, Western Digital in Sarawak has seizzed its operation and more then 1500 workers is out of work.
Many economist predict that the worst is still not here. 2009 was said to be the peak of the slowdown. What it has to do with us? Well, government got income from these MNCs. They were source of income for our nation. Without them, the unemployment rate will rise, and the national income will go down.
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