Jun 24, 2010

Singapore and Malaysia

The Boston Consulting Group, one of the leading global management consulting firm has just last week released its Annual Wealth Report and found Singapore to be amongst the top 20 countries with the most millionaires households.

Singapore, (once a part of Malaysia) is a tiny nation of 5.1 million population is ranked at no. 18 with the most numbers of millionaires and rank the highest in terms of density with 11.4 percent of the total households being a millionaire in USD (US Dollar). That is about 3.3 million Malaysian Ringgit. And this is of liquid asset which does not include the value of property owned.
(Most Millionaires Countries)

That means for every 10 Singaporeans you meet more than one will be a millionaire of USD.

Malaysia? of course is not in the list but i will try to check the most corrupt millionaire household list, maybe we are there.

As i remembered in the late 70s to early 80s before Mahathir became PM, Malaysia has one of the highest per capita income in Asia and was way ahead of countries like South Korea and Taiwan.

The Singapore dollar exchange rate was at parity with the Malaysian dollar back than at 1 for 1 and after Mahathir became PM we saw the other Asian countries race way ahead and today the Singapore exchange rate is at about RM2.33 for one Singapore Dollar.The Hong Kong dollar back than was about 3 for one Ringgit.

Singapore is today a fully developed country and an advanced nation  of which Malaysia is only still aspiring to become. Singapore enjoys a per capita income of more than USD 37 thousand whereas Malaysia is at less than USD 7 thousand which is way way off the mark being a leader in the region some 30 years ago.

Singapore is the fourth leading financial centre of the world and the fourth richest nation in terms of GDP Purchasing Power Parity per capita.

Singapore is a fine example of a sound and efficient economic management and governance with one of the highest ratings by Transparency International for being clean and the least corrupt.

On the other hand Malaysia will show you how corruption can impoverished its people and after years of progressive corruption has now become terminal and rotted to the core. Malaysia is now a sad story although blessed with rich and abundant natural resources, has 57.8% of its total household of 5.7 million earning a meager income of below 3000 Ringgit a month with an average household size of 4,5 person per household. And more than two third of the Malaysian household earns less than RM4 thousand a month at 70.7%.
(Click on Image to Enlarge)

We could have been like Singapore and we would have been a prosperous nation only if than we had selected our leaders wisely and carefully but instead we had to pick the most wicked and corrupt that has plundered our resources and divided our spirits.


Anonymous said...

Yes Malaysia will fall off the bandwagon and veer off the road very soon with everybody onboard , prolonging the ketuanan Melayu idea will not open the eyes of the ordinary folks while our neighbours are fighting tooth and nail to develop their country and gain foreign investments , Our Bumiputra First policy is so behind the times.
Pretty soon we may need to export domestic workers and cheap labourers to serve our neighbouring countries like Vietnam , Laos, Cambodia. This is the scenario if our country stagnates economically.
The ketuanans want to be CEO and directors but when nobody set up shop here, they will be CEO and directors of their home running their little homes.

Anonymous said...

Can a family of 4 live on an income of 1000 ringgit a month? What can 1000 buy in Malaysia?

UNO said...

This is the success of the New Economic Policy. All the wealth will only go to BN. After 40 years of NEP the BN people are all multi millionaires.

Anonymous said...

The hole has become too big, and impossible to plug.
Looting and plundering is picking up speed.
Many individuals will become millionaires and billionaires, but the county will become bankrupt even before 2019.
Malaysia = New Zimbabwee

Frustrated said...

With 490,200 households X 4.5 is 2,205,900 people living in abject poverty and another 7,541,100 people household income below RM2,000 a month of people in poverty.

That is a total of 9,747,000 Malayisan out of a population of 25million.

These numbers are miserable!

What happened to all the glory Malaysia Economic Plan they have been aanouncing all these times?

BNs gutter politics taking the people down the gutter!

Anonymous said...

You also will notice India is there....we are progressing backwards pretty well

ah Beng said...

rank the highest in terms of density with 11.4 percent of the total households being a millionaire in USD (US Dollar). That is about 3.3 million Malaysian Ringgit. And this is of liquid asset which does not include the value of property owned.

Wow! If you were to inlude the valuation of their properties more Singaporeans will fall into the categories of millionaires.
Superb Singapore!
Sorry State of Malaysia..Thanks to Dr Mahathir.

Rabid said...

Shocking! And wages are driven down deliberately using foreign labour. The official response seems to be to keep repeating the phrase "To become a hig-income nation".

Starmandala said...

I disagree with measuring "success" in purely financial terms. Having lots of money does not equate with living a meaningful life. However, in the case of Malaysia, even our original wealth of graciousness, hospitality and honesty as human beings has been destroyed by Umno misleaders with absolute no integrity and zero understanding of ethics. Unlike Singapore, we used to have an abundance of beautiful beaches, pristine forests, and clear skies - now only tiny patches remain!

Donplaypuks® said...


Sorry to digress.

I think as many as possible should act to stop a miscarriage of justice from taking place in the MACC vs lawyer Rosli Dahlan case as reported by Din Merican here.

It appears some one has manipulated a change of judge in the midst ofa trial going badly for the MACC, with ominous implications for now Rosli.

Trust you can highlight it as a separate blog to give it max publicity!

Thank you.

we are all of 1 race, the Human Race

Unknown said...

Hi Antares,
I agree that money is not the measurement of success.

But the people need basic necessity in order to live a basic life.

And here it is the responsibility of the government to ensure that poverty is eradicated and does not cause hardship to its people.

In our case the figures shows an alarming high numbers of people living a deprive livelihood.

And to top it off they are now talking about imposing GST and withdrawal of subsidies which will affect a majority of the already suffering Malaysians.

Unknown said...

yo dontplaypuks,

Yes i read Din's piece this afternoon and will highlight the story. The judicial system has gone haywire and umno gone desperate.

Anonymous said...

S'pore may have more millonaires but they have to work for it. In Malaysia we have richer millionaires but they don't have to work for it. So who is better eh ????

Malaysia boleh !!!!

flyer168 said...


So very true indeed!

They refer to us the rayaat as the Sheeple - the Goyim

Sometimes it is said that man cannot be trusted with the government of himself.
Can he, then be trusted with the government of others?
Or have we found angels in the form of kings to govern him? Let history answer this question -
Thomas Jefferson

Experience demands that man is the only animal which devours his own kind, for I can apply no milder term to the general prey of the rich on the poor -
Thomas Jefferson

A wise and frugal government, which shall leave men free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned - this is the sum of good government -
Thomas Jefferson


justicenequality said...

Malaysia COULD have been in the League of South Korea if after the formation of Malaysia they have form an inclusive team.

They should have included S'pore PAP and other lightminded parties from Sabah and Sarawak into the Alliance.

Imagine the chagrin of S'poreans,Sarawakians and Sabahans of agreeing to join in the formation of Malaysia but not be able to govern[being part of the team]but be in the OPPOSITION!

If only Tengku was magnanimous and practice Meritcracy then, how GREAT Malaysia will be TODAY!

But, alas, we are now regretting and lamenting "what could have been".

So come GE13-Vote WISELY-Time is not on the side of Msia with Vietnam,India, Indonesia progressing FAST.