Ron,
I keep waiting for another shoe to drop in Malaysia. Frankly there just has not been the kinds of ordinary signs of a deep recession here that one would expect. A few months ago I thought I saw it starting to happen; some shop closures, fewer people at the mall, a couple of stories of layoffs. But since then I have not really seen extreme signs of the downturn. In fact, just the contrary. I heard that the 4,000 people layed off from Read Rite in Penang have almost all found jobs. I have also spoken with a couple of manufacturers who said orders had picked up again. Finally, I spoke with a consulting firm that assists ex-pat visa applications who said business was picking up from new , off shore originated, ventures. Then the "fit hit the shan" with the announced changes.
I have heard rumors that Mahatir's agenda has been brewing for some time, though I am not even sure what it is other then to preserve the status quo.
Best,
Stitch |
