GST Driving Economy Into Recession, Melayu Miskin Dulu, FGV Pun Nak Bungkus Nasi Lemak

We were visiting a friend who runs a business importing arts, antiques and stuff. The business is over 30 years old and has done well. She has retail outlets as well as selling on consignments, on contract from Interior Designers and such.

Her business has been badly hit by the GST. The worse are her credit card sales. Her items are expensive - a small thing carved out of teak may cost RM1000, an inlaid table goes for RM3500 etc. Beautiful super kingsized chess pieces (I want, I want) made from camel bone is close to RM3000. 

There is (or was) a market for her goods. But with the GST,  her credit card sales have fallen by 70%. This is because if you buy something for RM5000, you must add 6% or RM300 to the tab. Thats RM5300 on your credit card. That also means monthly interest of 1.5% on that extra RM300  (by your credit card company).

So people are not using their credit cards for big items. And who carries RM5000 cash inside their handbags? Not everyone carries a handbag as big as a pillow.

But here is the trickle down effect. Since her sales have fallen through the floor, she will not need to call the lorry fellows to deliver her items. So lorry drivers and delivery boys have less work. Upah lori pun tak dapatlah.  

Tak payahlah lori isi minyak disel di stesen Petronas.  Bisnes dah jatuh. 

At all points of the chain the majority of workers and people involved are Malays. Melayu juga miskin dulu. This is what the GST is doing folks.

I suspect the economy will hit a recession in less than six months.

Then we read today that Felda Global Ventures shares are now trading like paper lama.  From RM4.65 IPO price the shares have gone below RM2.00.  

• FGV slips below RM2 as weak results weigh
• KUALA LUMPUR: Felda Global Ventures’ share price fell below RM2 
• core net loss of RM44mil in the first quarter ended March 31, 2015
• FGV was down 10 sen to RM1.91. 
• due to lower fresh fruit bunches (FFB) output 
• and losses from its downstream division
• results below full-year projections of RM311mil and RM430mil respectively
• culprits are lower-than-expected FFB output and RM44m downstream losses
• stock remains a Reduce as concerned about poor results 
• potential removal from FBM 30 index due to lower market capitalisation

Their performance is over 90% below projections.  Some clowns say the loss is because of the floods. What about other oil palm companies? They are not underperforming their projected earnings by over 90%. How do you explain that? 

The floods affected Kelantan and parts of Pahang.  Felda has vast plantations throughout the country.  Not just in Pahang.  How do you explain that?

There are other more serious problems in Felda.  

Car sales have also dropped through the basement floor. This is from Paul Tan's Motoring blog here.  

car industry experienced massive 32.7% drop in April compared to March

selling just 45,187 units compared to 67,314 the month before

best selling brand Perodua, 17,584 cars in the month. 

number two in April is Honda sold 6,562 cars

Toyota trailing behind at 6,032 units. 

Proton number four with 4,972 cars

Proton sales decreased over 50% in April compared to March 

other players in the top four dropped between 16% to 31%

Proton is still number two after Perodua

Mazda down by 53%

Hyundai down by 46%,

Ford down by 80%, 

Mitsubishi down by 73%, 

Kia down by 54%. 

Mercedes-Benz dropped 5%, 

BMW sales went up by 21%. 

Lexus sales went up by 7% 

Audi dropped 13%. 

MINI massive 57% increase 

Overall car sales dropped 37%. Down by over 22,000 new cars - in one month.  Well May is now coming to an end as well. I dont think the numbers for May are going to be any better.

This means that kedai spare part kurang bisnes, stesen minyak kurang bisnes, servis kereta kurang nisnes, mekanik kereta kurang bisnes. Semua orang lingkup.

Why do I say Melayu miskin dulu? Look at the Proton sales - kereta orang miskin - down by over 50% !!  Perodua sales also fell by over 20%.

Kereta orang kaya (BMW, Mini, Lexus, Mercedes either increased or decreased just a little).  Berapa ramai Melayu dalam kategori ini agaknya? 

In every sector of the economy, sales are falling like crazy. I already wrote that one hypermarket has suffered sales decrease of 28%. Our own jewellery sales are down by more. 

All this will end up in companies laying off workers, massive unemployment, businesses closing shop,  economy grinding down. This is happening.

The Bugis Bugger said 1.5 million jobs have been created or some crap like that. 

The very next day the EPU Minister said there were 400,000 unemployed graduates, (over 90% of whom are Malays / bumiputras). 

Then the JPA issued a circular saying that the gomen will NOT be hiring any more new staff.  No vacancies in the gomen service.

Today the papers say MAS (the airline) will lay off 6000+ workers.  

I say kekawan this is too late. The sh*t has already hit the fun.  

The economy is going down. The country is going down, down, down.

Folks, all of you better do something about this. Super Moron has to go.

Dia dan kawan-kawan crook dia kaya raya.  Naik turun private jet yang kita bayar, songlap duit besar billion-billion,  kroni kroni hidup mewah gila.  Yang jadi miskin dulu, orang Melayu juga.  Who is making a fool of whom?