The average monthly income per capita for Malaysia derived from the Household Income Survey 2009 came up to RM1168, only a slight increase from the figure of RM1028 in 2007.
For Sarawak, the figure was RM974 per month in 2009 compared to RM899 in 2007. That would translate to RM11688 for the whole of 2009. (Compare that to Sarawak’s GDP per person amounting to RM30318 in 2009, based on Department of Statistics reports, making it the ‘richest’ state in the country in terms of the production of goods and services. So where has all that wealth gone?)
In 2009, the average monthly income per capita for Malaysia was as follows (Sarawak figures in brackets):
Bottom 40 per cent of households – RM404 (RM312)
Middle 40 per cent of households – RM1056 (RM822)
Top 20 per cent of households – RM3124 (RM2600)
These figures are from a written response to a question raised in Parliament on 12 June 2012 by Chong Chieng Jen, the MP for Kuching.
The figures for the top bracket may not reflect the astonishing amounts ‘earned’ by the corrupt and their cronies, which are in all likelihood under-reported. Then there are the huge leakages out of the country.
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Those who went overseas to work in the last 20 years can now come back to Malaysia to afford those expensive housing.
Those who choose to be ‘loyal’ to BN and choose to stay back to realise their Vision 2020 in the last 20 years can now curse and swear. We have seen many evidence in Anil’s blog.
Be realistic. Some can’t even afford to apply for a passport, let alone work overseas. Some are committed to caring for their elders / hadicapped siblings or else they would end up in Sg Dua old folks home or Handicapped homes. Not everyone of Penangites are ‘endowed’ to just pack & leave for greener pastures. Not a sensible way to compare the have made it & the rooted. BTW, the idea of loyalty with some personal sacrifices for staying rooted in one’s country is not applicable to those having the best of both worlds. Lifestyle & measure of ‘success’ is… Read more »
Ask LGE, how to buy RM250 000 ‘affordable house’ with RM1182 monthly income ???
Answer: Lobby for 4-generation housing loan at low interest rate for Thua Gu Thua Beh Jit Si Lang. Otherwise, state gomen bring back Rent Control Act 2012 v2 (revised, updated & inevitable). At least Gelak-Gelakan of Lim Chong Eu era did have a heart for Penangites etching out a livelihood in innercity George Town since Merdeka. Curbed speculation & excesses of landlord of the pre-Merdeka Thua Chu Chu epoch. I like going back in time to the 60’s & 70’s but not its unhealthy aspect of living in perpetual rent-a-home dependent on many of the landlords. It seems we are… Read more »
Geerakan,
Ask Ah Cheak Kor how a RM3,000/= wage earner can get a 1Malaysia 100% loan for a 400K house at 30 years 4.4% which would amount to RM2,500 per month. No need to eat …….
Average income for Malaysia is better than Nacheak 800 minimum salary but worse than PR 1200 for the people & PR 1500 for civil servants.No money than go for the most affordable low cost home of RM72,000/= or mainland RM42k. Come on man, Geelakan, don`t be like AMMO Barang Nauk, no money still want to get expensive thing. Yes with corrupted cowgate using rakyat money to buy 10 millions condo.
Y?? LGE, if BN become penang state government the housing prices will drop? I dun think so
Imagine, an MP asks for income figures in Parliament and they give 2009 figures. Anyway, I remember that around 2008, the figures announced were much higher – double these new shocking ones:
Bottom 40% of households now RM 404
Middle 40% of households now RM 1056
So, despite all the lies, 80% live in poverty. This income inequality can only lead to more crime and social upheaval. By “crime” here, I don’t mean the crooks raking in milions and billions.
Were the figures you saw in 2008 per household? These figures are per capita.
The article here says “Household Income Survey 2009” and
“Bottom 40 per cent of households – RM404 (RM312)
Middle 40 per cent of households – RM1056 (RM822)”. So the figures here are for household. The earlier report could have been based on the 2007 survey, but I don’t recall the basis of the reported figures. No matter how you “slice it and dice it”, by any evaluation based on justice, the country is in very bad shape.
Just keep repeating “high-income nation” and it will happen by magic.
Putrajaya’s policy of “contingent liabilities”, or Treasury-guaranteed loans for various “off-balance sheet” projects, eg the failure of such initiatives as for the Port Klang Free Zone that could cost taxpayers up to RM12.5 billion. Majority Rakyat Surely gone “muflis” !!!!
Top 20 per cent of households – RM3124. Now, with this top earners’ income level (averaged out), how to buy homes selling @ 200K and above? No need to eat ah? This speaks volume of our economic think tank advising our state gomens on the availability of affordable housing for most households, let alone the lower & middle of income brackets who will be ‘fated’ to the outbacks of kampung & wilderness. Yeah, one can vouch for laissez faire market forces of unbridled speculation & ready foreign buyers who also see it as speculation for themselves. Who in their right… Read more »
Tunglung. Try a 90% 200k 40 years loan repayment which will make it at about 850 per month. That is the best you can get and it is only the foreign bank that is giving this tenure. Local bank with the exception of Public bank gave only 30 years period tenure at 4.4% making it more than 1300 per month. And it will be very difficult to get the loan approved if you have other commitment like car and other loan payment. Now it will be very difficult to find a decent property at 200k in Penang, So its poo… Read more »
Try a 90% 200k 40 years loan repayment:
That will come to 3-generation of “Thua Gu Thua Beh” just to technically own a home at the end of the 3rd generation!
And how to accommodate extended families?
What a work-dog’s path to take towards ‘Bing Chui’ Cosmopolitan Penang (for the rich & famous & speculators)!
Orang Pulo Panang, ingat baik-baik loh! Kehidupan depan anda semakin muram.
Belum rainforest, here I come home sweet home Oct, 2013.
Our Malaysian Ringgit is not appreciating fast enough due to failed policy of BN?
Why Singapore dollar is now almost 2.5x of Ringgit when they were on par 30 years ago?
2007 RM 1028 2009 RM 1168 If you account for 5% Inflation (AKA government PRINTING more money) rate , you will see how the actual money inflated value, i.e. 2008 1079 2009 1133 With 5% inflation rate, the same RM 1028 worth, is same as RM 1133 in 2009. For those still can’t grasp the idea of inflation, this mean, if you can use RM 1028 to buy 1 ton of rice in 2007, in 2009 , you need to pay RM 1133 for the same amount of rice. So you cannot use the Kampung folks math and say RM… Read more »
Please look at overall malaysia property, not only Penang.