RM 60 Billion Stimulus Package

The honorable Deputy Prime Minister and Finance Minister Datuk Najib unveiled the second stimulus package last Tuesday. These are my comments i.e.the undergraduate of Edwards University of Saskatchewan Canada.

1)The amount of RM60 Billion to be spread in 2009 and 2010 - SURPRISE as it is 9% of the Gross Domestic Product
2)Estimate government deficit of 7.6% for 2009 - MANAGEABLE for now
3)Forecast GDP of -1% to +1% for 2009 - EXPECTED although I doubt a positive number is attainable.
4)Carry Back Losses - TIMELY i.e.should have been done years ago. Many quarters expect both tax cuts for companies and individuals but obviously the government still need to maintain its revenue.
5)Car Scrapping Scheme for car owners more than 10 years old to buy Proton and Perodua (discount RM5,000) - Good idea. The government has a duty to protect the local car industry no matter how bad the economy is.
6)One year freeze on housing loan to benefit those retrenched or unemployed due to Voluntarily Separation Scheme - WELCOME but what if the borrower still out of job after one year. May contribute to higher NPL.
7)The RM2 Billion Lower Cost Terminal to be built near KLIA - This is indeed a mega project to be completed by 2011. I lauded the project. Rather than building a separate second LCCT just 10 or 20 km from KLIA which needs another runway and land acquisition of poor Felda settlers, its better for Malaysian Airports Holdings Berhad to build the new LCCT nearby KLIA.
8)Possibility of another stimulus package - YES. There is always Post Balance Sheet event.

I wonder where were those smart Malaysians who criticize me badly during my PTD interview. They battered me for coming home to Malaysia without my Bachelor of Commerce,my poor English (am I) and that I could NOT take the burden of learning Finance.

Hei you Malaysians! you have tons of certificates, I ain't got nothing. Brush up for better ideas.