Professor Dr Yeah Kim Leng mentioned that despite troubles, the currency is unlikely to decline to its worst even after the new government is constituted.
Professor Dr Yeah Kim Leng believes that employees must be given the option to choose whether to lower their contribution rate or keep to the present percentage.
Prof. Yeah Kim Leng opined that weaker currencies are inevitable due to the low interest environment with widened fiscal deficits as stimulus packages are being rolled out.
Prof. Yeah Kim Leng mentions that said for individuals and businesses that have bank loans with variable interest rates, the OPR cut will translate into lower interest servicing payments.
Prof Yeah Kim Leng recommended a general stimulus package to boost spending although he wasn't keen on the proposed reduction of the Sales and Services Tax (SST).
Professor Dr Yeah Kim Leng said relief packages for COVID-19 for tourism-related industries and affected industries will contain many similarities to the package for SARS years ago.
Prof. Yeah Kim Leng says an offset in business transactions is meant to create a win-win situation for both parties but the details should be made public