KEDAI RAKYAT 1 MALAYSIA SHUTS DOWN DESPITE SUPER STRONG MALAYSIAN ECONOMY ?? WHAT IS GOING ON?
The Kedai Rakyat 1Malaysia (KR1M), which was set up to provide basic necessities at affordable prices, will no longer be open to the public, albeit “temporarily”.
A check by Malaysiakini at multiple KR1Ms in Kuala Lumpur, Petaling Jaya and Kelantan, found that all were shuttered down, with notices informing of the closure, attached.
“This store will be temporarily closed, until further notice. Sorry for any inconvenience caused,” it reads…
My comments : One by one they are shutting down. The morons do not understand – the GST is killing the economy.
What the GST has done is it has chopped off at least 15% of the Malay / bumiputra purchasing power. And the non Malays as well.
Through the multiple price increases (after subsidies were cut and then 6% GST was imposed) the actual cash buying power of the Malays / bumiputras has been reduced by at least 15%.
If a person was taking home RM1000 per month, their actual purchasing power is RM850 only. Because 15% has been sucked up by GST induced price increases.
And their salaries are NOT increasing.
So they are dipping into their savings, assets reserves to make ends meet.
Sales at retail stores are dropping like bricks.
So the Kedai Rakyat 1 Malaysia has now shut down.
Temporarily? Ok lets see how temporary is temporary.