September 6, 2018
In case everyone wants to know the direction of the property market, please look at the job market. This is the reason why property prices in cities are increasing because everyone’s looking for jobs in the cities instead of staying in the small towns and villages after they have graduated. When more jobs are being created, the demand for property will increase correspondingly after these working people have saved enough money to get a home. Else, they still need to rent and there is still going to be demand for properties so that these owners could rent to them. However, if no new jobs are created or people are losing their jobs, then there is no future for the property market. Since we are clear on this part, ever wondered what would happen to those people who were hired for the HSR KL – SG project? That one which has been postponed two years from 2018 to 2020?
There are no loss of jobs for those hired for the HSR KL – SG project, at least for the Singapore side. In an article in ChannelNewsAsia (click here to read) The article says that a team of more than 100 specialists will be offered alternative jobs within the government agency (Land Transport Authority). This is because all of them have ‘lost’ their jobs after the postponement of the HSR KL- SG from this year to 2020. The commencement has meanwhile been pushed back all the way to 2031. (Sigh. I will be near my mid 50s by then…). SG HSR said, “During the period of suspension, SG HSR staff will be offered alternative job roles in LTA. We are confident that they will continue to contribute effectively in the LTA family in the roles that we take up during this suspension period. Subsequently, SG HSR’s work is expected to be scaled down until the HSR project resumes.” Reference to the article in channelnewsasia here.
I wonder what will happen to those professionals hired on the Malaysian side. Perhaps just need to wait for some announcements from our Transport Ministry or the Economic Affairs since the agreement was signed by Economic Affairs Minister Azmin Ali just yesterday. Earlier article here: Pay RM45.1 million first. Delay 2 years but completion date now 2031 Hopefully these people would continue to have employment because it may not be easy to find employment in a similar capacity elsewhere. Even Land Public Transport Commission (SPAD)’s current staffs’ future are unclear. Here’s that report not too long ago. Many mega infrastructure projects are now delayed, postponed or cancelled. Perhaps we need to wait a while more before some of these mega projects will continue; wait till the government sort out what’s really needed and what’s not. Happy waiting.
written on 6 Sept 2018
Next suggested article: What can RM100 do? Unlimited rides? More, actually.