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Reason 6 :: Acute unequal and unjust wealth distribution

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By NKKhoo

Malaysia has the second highest Gini coefficient of 0.492 or 49.2% in Asia, meaning we are second worst in wealth distribution amongst her people. (see http://hdrstats.undp.org/indicators/147.html).

In layman term, 80% of wealth is controlled by 15% population like Ananda Krishnan, Vincent Tan, Francis Yeoh, Lim Kok Thay, Syed Mokhtar, Mokhzani Mahathir, Nazir Razak, Eleena Azlan Shah, etc.

I single out Robert Kuok because his wealth mostly was amassed outside Malaysia after NEP was implemented.

These tycoons not representing the majority of Chinese, Malay and Indian except these tycoons boost up our national average income with no direct benefits to many of us.

I’ll give you a quick quantitative analysis on actual GDP per capita for 85% poor Malaysians and 15% Malaysia elites.

Assumptions:

1. GDP per capita in 2009 given by IMF is USD 6897 (ref: http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)_per_capita)

2. 80% wealth controlled by 15% rich; 20% wealth controlled by 85% poor. (Source quoted from the World Bank)

3. 26 million population as at 2009.

Analysis results:

-15% rich Malaysians GDP per capita is USD 36784 per capita.

-85% poor Malaysians GDP per capita is USD 1623 per capita.

The wealth shared by […]