GDP 2009 -1.7% ; OPR At 2.25%

GDP
The Najib administration recently announced the 2009 GDP figure of -1.7% . As with most Malaysians I am surprised with this better number. Achieving such a good 4th quarter number is applaudable.


OPR
On March 4 Bank Negara Malaysia decided to increase the OPR rate to 2.25% thus the floor rate is 2% and the ceiling rate is now 2.5%. It is my view that this increase is too soon and too much. A 10 basis increase is more agreeable.


FUEL SUBSIDY SCHEME

The Najib administration was taking the right step to do away the new fuel subsidy scheme. Since everybody wants to be subsidized whether rich or poor,action taken by Najib is acceptable for time being. BUT I still prefer the Pak Lah's way of giving cash money to car owners.


NISSAN RECALL

While Mr Akio Toyoda has answered to the congress,Nissan has also taken the steps to recall millions of cars in the US. The question I'm asking is what was wrong with those car manufacturers? Now that even GM has to make some recalls, the question asked is are those car manufacturers nuts in making unsafe cars? To all car makers - Please make good and safe automobiles.

The outlook of the auto industry is at stake if this trend continues....................