Wednesday, July 04, 2012

Wealth Distribution In Malaysia? What is the true picture?

Top 1% - per capita income?
Top 3% - per capita income?
Top 5% - per capita income?
Top 10% - per capita income?

By not giving the figures for the top 1%, 3%, 5% or even the top 10%, but only the top 20% -  we cannot see the true picture as to whether there just really a few people that are earning very high income in Malaysia. I expect for the top 1%, it may be millions of RM....not RM3124....or even RM10,000...

Also, let us not forget that these are just based on 'income' - not their current ownership....assets, etc. Houses, land, 'swiss accounts'???, etc...  We really need more data...more information...more disclosure ..more transparency for us to be able to see how wealth is currently distributed amongst Malaysians..

And for 2010, 2011.... but what is disclosed in Parliament by this BN government only based on the 2007 and 2009 surveys - surely, in June 2012, they could have given us also maybe, if not final, at the very least interim results of 2012...

The average monthly income per capita for Malaysia derived from the Household Income Survey 2009 came up to RM1168, only a slight increase from the figure of RM1028 in 2007.
 
For Sarawak, the figure was RM974 per month in 2009 compared to RM899 in 2007. That would translate to RM11688 for the whole of 2009. (Compare that to Sarawak’s GDP per person amounting to RM30318 in 2009, based on Department of Statistics reports, making it the ‘richest’ state in the country in terms of the production of goods and services. So where has all that wealth gone?)

In 2009, the average monthly income per capita for Malaysia was as follows (Sarawak figures in brackets):

Bottom 40 per cent of households – RM404 (RM312)
Middle 40 per cent of households – RM1056 (RM822)
Top 20 per cent of households – RM3124 (RM2600)

These figures are from a written response to a question raised in Parliament on 12 June 2012 by Chong Chieng Jen, the MP for Kuching.

The figures for the top bracket may not reflect the astonishing amounts ‘earned’ by the corrupt and their cronies, which are in all likelihood under-reported. Then there are the huge leakages out of the country.- Source: anilnetto.com, RM1182 monthly income per capita

1 comment:

Low Paul said...

maybe the true answer is unknown.

there is likely a lot of hidden, unreported wealth in malaysia for fear of being robbed and kidnapped.