ANNOUNCEMENTS on new taxes and a painful Budget 2019 are just the excuses for investors to take their money out of Bursa Malaysia. The fact that Budget 2019 will not have generous handouts is well-known. The writing has been on the wall since May 9 this year when existing government jobs came under scrutiny.
Construction projects saw massive cuts or were being shelved on the back of the country being saddled with a debt of up to RM1 trillion. The era of debt-fuelled economic growth is over.
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