The Debt Crisis in Malaysia Essay - 1040 Words

Introduction Can anyone imagine what will happen to Malaysia after a few more decades? Debt crisis in Malaysia is getting more severe due to lack of management among individuals. Serious debt crisis might lead to bankruptcy to our country. Nation leaders should lead others away from debt. If this scenario continues, Malaysia might follow the footstep of Greece, Spain, Italy, and Portugal. Debt crisis can be avoided by providing trainings and courses to the employees, improve individual personal finance management and filtering candidates in hiring process. Background Paragraph Debt crisis is becoming common and faced by most citizens in Malaysia. Between June 1997 and January 1998 a financial crisis swept like a brush fire through the†¦show more content†¦As stated by the Deputy President of the Deutche Bundesbank, Sabine Lautenschlà ¤ger, well-trained job-seekers from crisis-hit countries are most demanded, because people from crisis hit would find jobs in advance country and may possible one day return to their home countries with the knowledge and experience they have acquired, so it actually gives a win-win situation for both countries (Lautenschlà ¤ger, 2013). Giving incentives to employees who self-study can also be a way if the quota for providing training and courses to employee project is full. In my opinion, being an employee who has to work in the day and pick up night classes is difficult, so if they are given this incentive, eventually employees themselves will feel much appreciated after the hard work and effort spent was given a r eturn, with that level of appreciation, employees will give a better loyalty to the organization and stay longer remaining in it. Improving individuals’ personal finance management skill. The purpose of improving individuals’ personal finance management skill is to avoid themselves from involving into debts. What gets households into such high debts in the first place? RAM Holding group chief economist Yeah Kim Leng, attributes the high rate of household indebtedness to easy credit terms, low interest rates and a combination of greed from both banks andShow MoreRelatedThe Merger of Finance Companies in Malaysia1556 Words   |  7 PagesDocumentation Assignment 1 â€Å"The finance company in Malaysia are no longer exist† Prepared By: ZURAINI BINTI SAMSURI 2010889082 EMBF5C PREPARED FOR: EN. HASBULLAH BIN OTHMAN Nowadays, there are no more finance companies in Malaysia. This situation occurred due to Asian financial crisis in mid year of 1997. Start with Thailand whereas Thai government has decided to float Thai Baht due to financial crisis. 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