Uh-oh, the bottom’s fallen out Source: Statistics Department Ringgit weakens against the US dollar and Yen Buckle up, folks! We are in for some tough times. Malaysia’s economy took a dive in the fourth quarter as GDP stood on the brink of negative territory, growing by just by 0.1 per cent, compared to 4.7 per cent in the third quarter.
Perak Speaker V Sivakumar calls for an emergency sitting of the state assembly Photo by KK The emergency sitting is to vote on two motions: to affirm support for Nizar as the MB and to seek a dissolution of the state assembly, paving the way for fresh polls.
So the government has put off the highway toll hike to the end of the year. But before you rejoice, think about this: the government will have to pay RM287m in compensation to the concessionaires: Plus – RM195m Sprint – RM36m Akleh – RM27m Besraya – RM9m NPE – RM20m That’s our money going straight into the concessionaires’ pockets. Easy money for doing nothing. By the way, Plus Expressways Berhad made a profit before tax of RM1.5 billion for the year ended 31 December 2008 – up from RM1.3 billion the previous year.
