{"id":5863,"date":"2009-10-23T15:46:49","date_gmt":"2009-10-23T07:46:49","guid":{"rendered":"http:\/\/poobalan.com\/blog\/?p=5863"},"modified":"2009-10-23T15:46:49","modified_gmt":"2009-10-23T07:46:49","slug":"mr-and-mrs-malaysia-survey","status":"publish","type":"post","link":"https:\/\/poobalan.com\/blog\/borninmalaysia\/2009\/10\/23\/mr-and-mrs-malaysia-survey\/","title":{"rendered":"Mr and Mrs Malaysia Survey"},"content":{"rendered":"<p style=\"text-align: justify;\">Managed to write this just in time for the Budget. I&#8217;m waiting for it to start in 20 minutes or so.<\/p>\n<p style=\"text-align: justify;\"><a href=\"http:\/\/www.clsa.com.\" target=\"_blank\"><strong>CLSA<\/strong><\/a> produced its Mr and Mrs Asia 2009 report, which covers the expenditure and financial trends of the average person (hence the Mr and Mrs in the report). I read the Malaysian segment presentation which was received via an email. The details extracted below are from the Mr and Mrs Malaysia survey updated\u00a0 Summer 2009. Their first survey was in 2007, so there are some comparisons made at times.<\/p>\n<p style=\"text-align: justify;\">So, do you fit in anywhere in here? Are you an average Mr or Mrs Malaysian? Check it out (note that I have categorised the main points\/findings):<\/p>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"text-decoration: underline;\"><strong>Location<\/strong><\/span>: 285 respondents in Kuala Lumpur (171 or 60%) and smaller cities like Johor Bahru (29), Ipoh (34), Kuantan (17) and Penang (34).<\/li>\n<\/ul>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"text-decoration: underline;\"><strong>Income<\/strong><\/span>: Typical household income is <strong>RM2,001-5,000 per month (42%)<\/strong> with 84% currently working. <strong>18% have monthly income above RM10,000<\/strong>, <strong>2% earning less than RM1000<\/strong>, <strong>14% earning beween Rm1001 and Rm2000<\/strong>, and <strong>24% earning between RM5,001 and Rm10,000 per month<\/strong>.<\/li>\n<\/ul>\n<ul>\n<li style=\"text-align: justify;\"> <span style=\"text-decoration: underline;\"><strong>Age<\/strong><\/span>: Their sample has a <strong>mean age of 33.2<\/strong>, reflecting Malaysia\u2019s young demographic. <strong>78% are less than 40 years old<\/strong>.<\/li>\n<\/ul>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"text-decoration: underline;\"><strong>Gender<\/strong><\/span>: More than half,<strong> 58%, are female<\/strong>.<\/li>\n<\/ul>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"text-decoration: underline;\"><strong>Children<\/strong><\/span>: <strong>62% have one child a<\/strong>nd 14% have no children in their household. 15% have two children while 3% have more than 3 children.<\/li>\n<\/ul>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"text-decoration: underline;\"><strong>Dependents<\/strong><\/span>:<strong> 49% had other dependents than children<\/strong>, and<strong> 65% said those were parents<\/strong>.<\/li>\n<\/ul>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"text-decoration: underline;\"><strong>Household Size:<\/strong><\/span> Average household <strong>has at least four people. <\/strong>Typically two members of the household are employed.<\/li>\n<\/ul>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"text-decoration: underline;\"><strong>Economy Effect on Income<\/strong><\/span>: Despite 1Q09 GDP contracting by 6.2% YoY and exports falling 23.5% YTD,\u00a0 56% said household income has not been affected.<\/li>\n<\/ul>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"text-decoration: underline;\"><strong>Economic Effect on Employment<\/strong><\/span>: 67% say the downturn has not affected their employment and 67% have not seen family members affected. 2<strong>3% say the downturn has affected the jobs <\/strong>of other family members, with 59% saying\u00a0 one family member is affected. The downturn has affected household income of 44% of respondents, and 70% have changed their spending patterns. But <strong>10% said the income has increased<\/strong>, <strong>63% said income dropped<\/strong>, and <strong>27% said income unchanged<\/strong> since start of 2008.<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li><span style=\"text-decoration: underline;\"><strong>Spending Pattern<\/strong><\/span>: Nonetheless, Mr &amp; Mrs Malaysia remain fairly cautious with <strong>70% having changed<\/strong> their spending patterns since the downturn, cutting spending on leisure and entertainment, clothing, food and groceries. Children\u2019s education, mortgages and healthcare took priority. Households have cut spending on leisure\/entertainment (1) , clothing (2), food and groceries (3), communications (4), and utilities (5). Changes in income (+\/-) affects the leisure\/entertainment expenses. Food, mortgage and transport account for bulk of expenses.\u00a0 Children&#8217;s education, healthcare, communication, and clothing account for less of the spending.<\/li>\n<\/ul>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"text-decoration: underline;\"><strong>House<\/strong><\/span>: 31% lives in a 1,500-2,000sf house; 79% own their own homes while 64% have one other property. 52% have a mortgage, and of that, 72% said its for one property only.<\/li>\n<\/ul>\n<ul>\n<li><span style=\"text-decoration: underline;\"><strong>Cars<\/strong><\/span>: <strong>94% of respondents own cars<\/strong>. Favorite cars are Toyota and Honda<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li><strong><span style=\"text-decoration: underline;\">Credit Card<\/span><\/strong>: <strong>90% have credit cards<\/strong>. 68% have more than once credit card. Favorite credit card provider is Citibank and favorite debit card provider is Maybank. Credit card preferred over debit cards. <strong>63% spend less than RM1000 on their credit cards<\/strong>, while 24% spend between RM1001 and RM2000. 17% said the credit card expenses increased, but 42% said it reduced.<\/li>\n<\/ul>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"text-decoration: underline;\"><strong>Savings Pattern<\/strong><\/span>: The key buffer is the nation\u2019s high savings rate. Malaysians s<strong>ave the equivalent of 43% of GDP<\/strong>. But Mr &amp; Mrs Malaysia are cautious: <strong>81% place their savings in cash deposits<\/strong> and 72% have not bought stocks in the last 12 months. 45% of respondents save 10-20% of their income, and 47% say savings patterns are unchanged since the downturn. 10% are actually saving more while 43% saving less. 65% do not plan to buy shares in next 12 months. Best investments are cash deposits and properties, while the worst are bonds and stocks. 58% put their wealth in properties, 53% invest in equities while another 31% invest in foreign currencies.<\/li>\n<\/ul>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"text-decoration: underline;\"><strong>Employment Outlook<\/strong><\/span>:\u00a0 Despite the slowdown, <strong>19% expect job prospects to worsen in the next 12 months<\/strong>, while 40% said it will improve.<\/li>\n<\/ul>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"text-decoration: underline;\"><strong>Future Expenditures<\/strong><\/span>: This is also reflected in their plans to buy big ticket items in the next 12 months, with <strong>28% planning to buy a house and 13% a car<\/strong>. 40% said they won&#8217;t make any big purchases in the next 6-12 months, but 26% plan to buy a house within that period.<\/li>\n<\/ul>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"text-decoration: underline;\"><strong>Concerns<\/strong><\/span>: Respondents are largely concerned with unemployment and income decline, followed by inability to save and medical costs.<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li><span style=\"text-decoration: underline;\"><strong>Expectation on Government<\/strong><\/span>: Mr &amp; Mrs Malaysia want the government to prioritise improving the country\u2019s economic conditions. Unfortunately, not many are confident that the Najib administration can handle the downturn well. 66% do not have confidence in the way the government is handling the downturn and many want the government to reduce crime rates. 49% wants the government to improve the economy.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">\n<p style=\"text-align: justify;\">\n","protected":false},"excerpt":{"rendered":"<p>Managed to write this just in time for the Budget. I&#8217;m waiting for it to start in 20 minutes or so. CLSA produced its Mr and Mrs Asia 2009 report, which covers the expenditure and financial trends of the average person (hence the Mr and Mrs in the report). I read the Malaysian segment presentation [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[115,111],"class_list":["post-5863","post","type-post","status-publish","format-standard","hentry","category-borninmalaysia","tag-economy","tag-survey"],"_links":{"self":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/posts\/5863","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/comments?post=5863"}],"version-history":[{"count":5,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/posts\/5863\/revisions"}],"predecessor-version":[{"id":5874,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/posts\/5863\/revisions\/5874"}],"wp:attachment":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/media?parent=5863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/categories?post=5863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/tags?post=5863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}