EARN S$ SPEND RM

As Malaysia's younger workforce entry-level pay drifted down towards the poverty line, more and more Gen-Y workforce are being driven down south in search of employment that provide them with Singapore dollars.... With Sing$, then only they find it worthwhile living the frugal life to save and then spend them back home during the holiday breaks. It is definite more strategic than working hard in Kuala Lumpur, lives frugally but at the end of the day cannot even save a hunderd ringgit a month! But in Singapore, many of these Gen-Y graduate workers have proven despite the higher costs of living comparatively, save more effectively if they share room with their colleague in some lower costs HDB flats.... What they cannot even save a hunder ringgit they can save up to S$200 a month! Wow! Converting back to RM, this is nothing less than RM450.... We have to realise, in Singapore, only accomodation and owning a car are on the higher side compared to that in KL but most of the other things, the costs are relatively lower if we do not work on any currency conversion - this means the MRT is cheaper, food is cheaper, bus is cheaper, entertainment is cheaper... blah, blah blah...

But most of all you get the good old savings for your future and GOOD SECURITY - you don't get mobbed on public road.... and much better hygiene everywhere! True therefore, numerous of my younger friends and colleagues had or are in process of migrating their working lives down south....

What does this relates in the more strategic sense? Yes, Malaysia is going to be a country that is a net exporter of young graduate workforce, especially from the insurance industry, mostly to Singapore, Hong Kong, Gulf nations and some third world countries.... Why? Malaysian corporations cannot afford to pay - simple as that! Why again? They are too short sighted - getting the short term gains forgoing the longer and more strategic aspect for the long term benefit to the country! No one is thinking long term for the country now - they just want to make the bucks faster to realise their investment better. Was this because no one trust the economy of the country or was it all about our joker politicians?

Is this phenomenon damaging for Malaysia? YES, Without the most capable younger workforce, it would eventually create a brain drain and therefore a subsequent vacumm in the years to come.

No wonder Najib, our PM is working towards beefing up the nation to attain the status of a higher income earning nation, and not continues to live under the banner of low costs. Looks like it is going to be an uphill task!