Did you read an article about the richest Malaysians in Malaysia recently? There’s one in TheStar about the top 40. Who’s new, who’s out and basically what do they do and how much is their actual net worth. This is what they actually have, after deducting all their debts, if any. 🙂 In brief, the top five are as follows: Robert Kuok of PPB Group Bhd/Kerry Group with a net worth of RM37 billion, Tan Sri Lim Kok Thay of Genting Group with a net worth of RM22 billion, Tan Sri Teh Hong Piow of Public Bank Bhd with net worth of RM20 billion, T. Ananda Krishna of Usaha Tegas Group with a net worth of RM20 billion and Tan Sri Lee Shin Cheng of IOI Group with a net worth of RM19 billion. All the top 40 are billionaires. Want to know all the remaining 35? Read the article in The Star loh.
For those who have identified all the top 40 and believe it’s possible to catch up with them, I wish you all the best. Think ‘online start-ups and you may just make it within a few years’ time. Look at GRAB for inspiration. As for the rest of us who intend to continue working, perhaps it’s time we come back to reality. For the majority of working professionals, I think we are within the groupings of B40, M40 and T20. What are these three groupings? Malaysiakini has a concise article explaining the differences. Where income is concerned, the article which is based on 2014 numbers showed the following: T20 which is also the top 20 percentile has a median household income of RM11,610 followed by M40’s median household income at RM5,465 and B40 with a median household income of RM2,629. Within the T20 earners, 20.5 percent of them identify themselves as government servants, 8.1 percent identified themselves as employees, 57.8 percent as private sector workers and 13.5 percent as self-employed. I am guessing that all the super-wealthy people are not free to answer any questionnaires sent to them and thus may not be included into the statistics.
For the middle income group, M40. These are what they identify themselves as. 3 percent identified themselves as employers, 17.3 percent as government servants, 59.2 percent as private sector employees and 20.5 percent as self-employed. (From this number, we can also note why many in the private sector are asking for more affordable homes. They are a huge group within M40) Finally the B40 group has the following: 0.8 percent identified themselves as employers, 8.1 percent as government servants, 56.9 percent as private sector employees and 34.1 percent as self-employed. (From this number, we can see that a huge number of private employees may be stuck in low-paying jobs. These would be those jobs for which the employees themselves are not able to have much negotiation powers due to the nature of the work which can be easily replaced)
One way to also look at all these numbers would be the fact that salaries alone is not enough. We need investments. One job may also be insufficient. It’s time that we think of another income stream. Nope, it’s not only about becoming a UBER / GRAB driver. How about starting an online shop? There are so many online retail sites that we can be a part of. It is definitely possible to start baking cakes from our homes. I just ordered a 2kg cake for my daughter and I picked it up from a bungalow unit. I think the baker is by far richer than me! During conversations, I learnt that my friends have also ordered from the same baker. WOW. One more good choice would be to start writing about something we are passionate about. Look at paultan.org for inspiration on what happens when your site becomes extremely famous. Let’s keep doing more because we are the best people to help ourselves. Cheers.
written on 4 Feb 2017
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