We are blessed

We are blessed. Our country has been ignored since March 8 general election. When the crisis hit, we are not badly hit as those who want to sell has done it since 8 of March. Some projects cannot start due to change of state government. This is also a blessing. Due to the crisis, someone willing to do it with more competitive pricing.

Furthermore, most of our banks are well capitalised thus we do not have funding issues. The only issue is, bank are very selective on their customer base. I heard a few local and foreign bank in Malaysia are no longer extending high financing to their customer. They are reducing the risk by asking their customer to pump more cash in order to secured financing.

Due to the profit margin squezze on secured lending, bank are moving towards unsecured financing that enjoy higher profit due to higher risk involved. Among the products are personal loan, credit cards, revolving OD (unsecured type) and cash on call matching the credit card limits. These products enjoy profit spread of at least 3% up to 15% per annum. But the approval are strict as only selective customer are entitle for the facilities.

Our politician are also very mature. The power transaction are done gentleman way. No more street rally. All of us want to make a living only. We are moving towards first world mentality. Congratulation.