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- ☕️ The looming RM120 bil pension bill and new civil servants on contract service
☕️ The looming RM120 bil pension bill and new civil servants on contract service
LCS - delays, delays, delays. About holidays: No public hols on Jan 31, floating holiday system proposed. The upcoming Capital Gains Tax and how it affects us investors.
The Coffee Break
January 26, 2024
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1. MARKET SUMMARY 📈
Information as of 0730 UTC+8 on Jan 26, 2024.
2. NUMBERS AT A GLANCE 🔢
According to the Department of Statistics Malaysia (DoSM), Malaysia's Consumer Price Index (CPI) recorded an inflation rate of 1.5% in December 2023. This has resulted in an annual inflation rate of 2.5% for the year 2023, as compared to 3.3% in the previous year. Dr Mohd Uzir Mahidin, the chief statistician, stated that the gradual increase in prices of restaurants and hotels (3.7%), various goods and services (2.7%), and food and non-alcoholic beverages (2.3%) was the primary reason behind the increase in the inflation rate.
On a separate note, Bank Negara Malaysia’s (BNM) Monetary Policy Committee (MPC) maintained the overnight policy rate (OPR) at 3%, stating that the monetary policy stance remains supportive of the economy and is consistent with the current assessment of the inflation and growth prospects.
USD1.9 trillion (RM8.99 tril) — the productivity cost of quiet quitting at US companies last year, according to Gallup. That is the price tag of workplace unhappiness. Many Americans feel disconnected from their employers after the pandemic, resulting in a staggering decline in engagement. Gallup's surveys show that engagement had been consistently increasing for ten years until it peaked in 2020. However, the pandemic has disrupted workplaces and reduced satisfaction, leading to more employees feeling unsure about expectations, which decreases engagement.