Guys, I am doing business in the telecommunication industry. To my experience it is the most stable market in Malaysia. No matter what economic waves or financial waves or recession waves coming in, this market sector remain calm and stable until recent indication by a market research firm IDC saying that the Malaysia telecommunication industry is expected to grow 4 percent to about RM24 billion this years, its slowest in more than five years down the road. Certainly it gives me a thinkle on what to do if the industry getting worst.

On top of that fixed-line voice services are expected to take the biggest beating when compared to mobile services. Data and Internet-access services, however, are projected to grow more than 14 percent.

Looking at the current global economic crisis, subscriptions of redundant fixed line voice services will be cutt off as companies have tight budget nowadays and moreover companies will go for free VOIP services via skype or yahoo for their voice services.

Certainly Malaysia economy is also into an unstable situation judging from the Malaysian Institute of Economic Research (MIER) saying that the country’s unemployment rate is in danger of rising and may even hit 4.5% figure in the year 2009. The country’s jobless rate now is fluctuating around 3.5% figure.

The number of workers being retrenched in Malaysia these days is sharply on the rise, it is estimated that as many as 200,000 workers from various factories throughout the country would find themselves jobless as the global economic downturn continues to hit hard before mid of 2009.

Electrical and electronic will be the main 2 sub-sectors expected to be the biggest victims. Product demand is slow and orders have been non-existent since the turn of the year. The most sensible thing to do is - shutting down factories, either temporarily or permanently, and retrenching their workers.

Certainly, the year 2009 would not be a very good year as far as unemployment is concerned. It might even go as the worst year for the country’s economy. So guys, do not push the panic button just yet, our situations are still in control and as a layman we need to be extra careful in our expenditure and my good advise is to live a simple life, not to be extravagant and also remember Allah who will always help us in time when we need most. Always remember Allah whether during good time or bad time, because when you remember Him, He will always remember you in return.

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