Its back to school day finally and the number of Covid-19 cases has decreased to only 4 new cases yesterday. Thanks to our Ministry of Health and all the front liners without them this success would have been impossible especially if you compare with our neighboring countries who are still struggling to control the number.
Although the light at the end of the tunnel is now visible, experts are predicting a second wave to hit during the month of November and if you have read about the Spanish full which had happened over a century ago – the second wave is much worst than what we have experienced lately. Anticipating the second wave, major companies and corporate are already preparing towards it, let it be work from home setup or retrenchment of employees, they are aware of the predicament and they are getting ready to face the worst.
What it means to normal people? Well many people have already lost their job and now surviving with government aids. The number of unemployment is expected to be increasing between 6 to 8% in the coming days and we think it could go worst especially for industries like tourism, and entertainment, even construction.
If things got worse what will it mean to normal working-class people? How do we survive without a job and how could we lead a normal life? We are sure we are not the only people with this question on our mind.
The world economy is struggling but it has also created opportunities for people. Yes, you heard that right. During pandemic two Malaysian made themselves into the billionaire list. There are numerous numbers of people who made profit by investing in companies like Top Gloves, 3M etc.
What we can foresee in the coming years is the emergence of more online based business, we can also predict an increase in foreign market investment as Malaysian Government has increase the ceiling value of investment to 50k. Another big sum of money in allocated to our Ministry of Science, Technology and Innovation in order to develop handier fin-tech's that could help people to run businesses and service to a wider audience.
Governments are trying their level best to provide citizens the ability to take advantage of the situation that we are into. What we can do for our self is be more aware of the current news, stay updated on the economic movements and try to look for a way to make money and grow our wealth at the same time.
Get in touch with your personal finance advisors, be open minded when you’re approached with a business plan and be more active doing researchers to understand the products. There will never be an investment with 0 risk so getting update and informed on how to minimize the risk is also a skill that you will need to accrue in order to survive the crisis.
Our intention is to create a community who are well informed about the economy rather than to feed them fear and turn them into clients. We are trying our level best to help our fellow Malaysian to understand the way of making money and creating a better stability without having to solely depend on just salaries.
By Suren Subramaniam | 22 July, 2020