THE ECONOMY IS SHUTTING DOWN.
PLEASE ABOLISH THE GST.
THREE INTERNATIONAL CHAINS TUTUP KEDAI IN LAST THREE MONTHS.
I THINK MORE ARE GOING TO CLOSE.
HERE ARE TWO NEWS REPORTS
FMT Reporters | July 6, 2017
Tous Les Jours, Tim Ho Wan, Bulgogi BBQ restaurant quit
-3 intnl restaurant chains close shop in three months
-makes one wonder, just what is going on.
-Y’day Bulgogi Brothers ceased to exist in Malaysia
-Bulgogi Brothers first opened here in 2012.
-expanded outlets in eCurve, Mid Valley Megamall and Pavillion.
-timing of closure points to economic factors affecting Malaysia
-Bulgogi announcement just two days after Tim Ho Wan closed
-company started to operate restaurants here in 2014.
-Tim Ho Wan continues to operate in Singapore, Thailand, Philippines.
-two months ago, Tous Les Jours shut down operations in Malaysia.
Here is the 2nd report from The Malay Mail :
-Published: July 6, 2017
-Tim Ho Wan famous dim sum
-promising start when Malaysians more disposable income
-falling ringgit and GST led to weaker sales.
-last year 68 bank branches shut down nationwide
-1,425 employees retrenched in half year
-last few years several international chains abruptly shut down M’sian business
1. Tim Ho Wan, from Hong Kong – tutup kedai
popular dim sum chain opened two outlets three years ago.
incurred losses of RM895,642 in the past year.
Tim Ho Wan still in Singapore, Thailand, and Philippines.
2. True Fitness, from Singapore
announced closure of all its gym and spa facilities in Malaysia on June 9
closed three outlets in Jaya 33, Taipan Subang and Sunway Giza.
True Group still has branches in Taiwan and China.
3. Tous Les Jours, from South Korea
In May Korean bakery suddenly close down all stores in 24 hours.
four branches : Bangsar, Damansara, Bukit Bintang, Subang
1,300 shops worldwide in Indonesia, Philippines, Cambodia, Vietnam.
5. Delifrance, from France
French bakery 20 outlets nationwide.
all ceased operating, just vanish into thin air.
2013, celebrated its 30th anniversary
chain has hundreds of outlets in 20 countries.
My comments: Their branches in Singapore, Thailand, Philippines, Cambodia, Vietnam, Indonesia, China, Singapore are all still going strong.
ONLY THE MALAYSIAN OPERATIONS ARE SHUTTING DOWN.
The answer is obvious, the GST is affecting the largest group of consumers in Malaysia which are the Malays.
THE VAST MAJORITY OF MALAYS ARE SALARY EARNERS.
THEY EARN MONTHLY WAGES.
THE GST HAS INCREASED PRICES OF GOODS BY EASILY 15% OR MORE.
THIS MEANS A PERSON SPENDING RM2000 A MONTH HAS TO PAY RM300 GST EVERY MONTH.
THEIR PURCHASING POWER HAS REDUCED BY RM300 PER CONSUMER.
THAT TRANSLATES INTO AT LEAST RM4 BILLION LOST PURCHASING POWER PER MONTH. (14 MILLION WORKFORCE X RM300).
OR RM48 BILLION LOSS PURCHASES PER YEAR.
YOU THINK THIS IS FAR FETCHED? COMPARE TO THIS : THE GST COLLECTION IS ABOUT RM40 BILLION.
CHIEF THIEF HAS BEEN CROWING THAT THE GST COLLECTION WAS RM40 BILLION.
THAT MEANS RM40 BILLION HAS BEEN REMOVED FROM THE PEOPLES PURCHASING POWER.
SO RM40 BILLION LESS PURCHASES EACH YEAR AT BULGOGI, DELIFRANCE, TIM HO WAN, KEDAI AYAH, 500 PRIVATE CLINICS (WHICH HAVE SHUT DOWN), 68 BANK BRANCHES (WHICH HAVE SHUT DOWN), HUNDREDS OF MALAY RESTAURANTS WHICH HAVE SHUT DOWN.
THE ECONOMY IS CLOSING DOWN.
ABOLISH THE GST. YESTERDAY.