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Joey Yap: Malaysia’s Economy Faces More Downside Risk

Sunday, July 3, 2016
The Edge Property Malaysia
By: Shawn Tiong

Malaysia’s economy is expected to go down during the second half of 2016 (2H2016) as the country lacks of positive stimulus, said Chinese metaphysics consultant Datuk Joey Yap.

The economy’s rating is declining to B- from the B+ he gave earlier this year, Yap told TheEdgeProperty.com during a break in his “Thriving In Turbulent Times: The Art of Qi Men Feng Shui” seminar here today.

“I think the economy is going to that direction. There is no positive stimulus [in our domestic market to push us] towards a better direction,” he explained.

During his presentation, Yap said the UK’s referendum outcome to leave the European Union (Brexit), Renminbi weakness, Orlando mass shooting, Istanbul bombing and negative news from around the world have created challenges for the world, including Malaysia.

“Moreover, improvements are not forthcoming, so the economy is moving downhill slowly,” he added. “The outlook is not so promising at this point in time, so that is why I called this talk ‘Turbulent Times’.”

Looking ahead, Yap reckoned the economy has not reached its bottom yet. However, it will improve eventually, depending on what companies and people are doing.

“It depends on people, it has nothing to do with what is happening right now, its people-related” he said.

“A lot of companies are pulling the brakes now. If companies are not investing, how do you create jobs? I don’t see any major players making these important changes as when we had hoped,” he added.

During these turbulent times, Yap suggested people make shifts in five aspects -- shifts in skills, direction, acceleration, network and time allocation.

“Now is a good time to choose, whether you want to stay and be safe, or you want to venture out and do something, because there are obviously a lot of opportunities,” he said.

A lot of great businesses are created during times like these, said Yap, adding that there are also people who are retrenched from their jobs, and are looking for partners to start new ventures.

“IT is still an all right field. You might want to work on apps and global businesses that are not so dependent on one market -- there are so many opportunities out there,” he pointed out.

  To view original article, click here
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