NAJIB’S KISS OF DEATH: EVEN HIS FRIENDLY TYCOON MYDIN STARTS TO FEEL THE PAIN – HIT BY GST, SUPERMARTS, HYPERMARTS START TO CLOSE SHOP

I went to our nearby supermarket this morning. It is closing down. I became suspicious when the supermarket did not have eggs for sale. (Can you imagine a supermart that does not sell eggs !!)  Then I noticed their shelves were empty.

 

 

One girl said that they were closing down because the “complex owner” wanted to renovate the building. Why renovate if the business is good? The entire complex will shut down. I think easily another 300 workers will join the ranks of the “No Income Nation”.
Folks, more than 1MDB, more than the thievery and the stupidity it is the GST that is killing the economy. The GST must be abolished completely and instantly. No such thing as abolishing the GST in stages. Just abolish it. Now.
The GST has sent prices up sky high. The GST is not just 6%. It has a compounding effect. My belief is the actual effect on prices was at least 15%.  The sad thing is salaries and wages have not increased by 15% since the GST was implemented two years ago. Salaries are stagnating. Or salaries become zero when you lose your job.
That supermart and the complex that is closing down “for renovations” will cause a loss of over 300 jobs.  300 workers will go from “earning some income” to become No Income Nation.
Here is a news item. The Mydin chain of hypermarkets and supermarkets has made their first losses in 60 years.  Here is Dato Ameer Ali Mydin the MD of Mydin Hypermart :

Mydin Mohamed Holdings record huge loss for (FY16), first fall in 60 years.

MD Ameer Ali said retail group “lucky” to maintain same figures this year

country’s largest hypermarket chain saw sales down by 5%
Unfortunately it was implementation of the Goods and Services Tax (GST).Then fluctuation of US dollar rate

and the Price Control and Anti-Profiteering Act 2011
in 2015, first time in Mydin’s history, we reported a massive loss
quandary about foreign workers “stifled” business, depend on labour
It is a mess. (In) supermarkets, queues longer (because of lack of staff)
difficult to get foreigners to work in Malaysia as policies are unclear
Nepal, Philippines, Indon workers  can find jobs elsewhere, better remuneration
govt increased levy by RM600 for construction, manufacturing, services
Employer Mandatory Commitment (EMC) introduced on Jan 1, 2017
employers to pay levy instead of deducting it from employees
Ameer said wholesale sector, retailers reported substantial deficits last year
2016 retail disappointing growth rate of 1.9% compared to 2015.consumers yet to recover from negative impact of GST introduced April 1, 2015

Ameer added govt’s decision to reduce cheap sales to four per year did not helpRetailers allowed eight cheap sales in year

five by the law,  three by administration
Now only allow four, three fixed dates, one decided by administration
I mean (the consumers’) budget is limited
they can only go to one place

If you go to Zara, what happens to Metro and Jaya Jusco?” Ameer queried.

businesses need flexibility to have sales at different times as strategy

government cannot be getting involved, telling businesses when and what to do
issue is not how much money we can make

issue is whether we have cashflow to pay suppliers, staff, rental

nobody is thinking of profitability

All thinking of cashflow

weak performance, Mydin to scale down expansion plans

our current investment plan is postponed
until we see light at the end of tunnel,” Ameer stated.
My comments : Well Dato, there will be no light  at the end of the tunnel as long as this Super Moron is in power. The Super Moron does not only not understand anything about anything but he does not care that he does not understand anything about anything.
A ruler with even a little bit of intelligence will ask people who know to explain to him the things that he does not understand. That is called wisdom. But these folks are akin to stunted wild buffaloes. Unbelievable levels of stupidity.
People who have no idea how to run any type of business, let alone supermarkets, hypermarkets, department stores or shopping malls SUDDENLY want to tell shopping complexes how many “cheap sales” they should have.  I can assure you the Minister of Domestic Trade and Consumerism will not even know that Mydin Hypermart made their first loss in 60 years or that supermarkets are closing down or even that I wrote this blog post.
Maybe the Minister of Domestic Trade and Consumerism will soon tell us how to wipe our backsides. Maybe he will insist on doing it for us too.
Ya Allah Ya Rahman, kenapalah kabilah ini boleh jadi begini bodoh?
Ya Allah Ya Rahman, apakah dosa kabilah ini sehingga bodoh sebegini?

Ya Allah Ya Rahman, sampai bilakah kabilah ini akan kekal begini bodoh?

– http://syedsoutsidethebox.blogspot.my/

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