Youth Mainstreaming: Economic Perspective

From my Official Facebook Post (13 Aug 2016):

Last weekend DAPSY (DAP Socialist Youth) had a successful political education summit.

DAPSY National Executive Committee

I wasn't able to join them due to commitment at constituency. However, I made a short trip to attend the meeting of DAPSY National Committee and to join my comrades (Rajiv, Nurman, Bryan and Yoke Kong) to speak in one of the forums: Youth Mainstreaming: The technical perspective & Economic Case.

Panel of the Forum 

Here is a short note of what I shared:

1. Malaysia is in a period which we should take advantage of "demographic dividend" - people coming to workforce is more than those who retire. In normal (or even not too bad circumstances), the economy will expand due to demographic change. But are we taking full advantage of this window of opportunity? Or will we let this generation pass without making a signifcant breakthrough?

Showing the Demography Chart 

2. The youths today are facing problem with low and even more depressing, stagnant salary growth. According to the Edge, (from the extrapolation of statistics from the EPF), average wage grew only 3.9% per year over the last 4 years, well below 6-7% during 2000-2008. With increasing inflationary pressure, the real wage is in fact declining. (I didn't have time to talk about how low wages in Malaysia also coupled with high cost of living especially on mobility, i.e transport and public transport, which we could do so much better and cheaper. This leads to very low saving rate among average working youths, which in turn hinder wealth accumulation. Without intervention, the wealth inequality will increase among the haves and the have-nots for this generation.)

Explaining Labour Productivity 

3. Salary growth needs to come from productivity growth otherwise we'll lose out our businesses/capitals to global economy (business may invest elsewhere where labour cost is cheaper). However, the ratio of quantity and quality labour input to GDP has not changed since 2006 at 89:11. (We have not been able to improve labour quality).

4. To improve productivity, we need effective microeconomic policies to create a business environment that rewards enterprise, innovation, technology and skill training. We also need to provide resources needed for firms to identify business opportunities and take advantage of them. In addition, we need macroeconomic stability, sound institutional arrangements and good infrastructure to provide the core where individuals and firms can plan and invest.

5. For Malaysian youths specifically, youth unemployment is higher than national average about 10% compared to about 3% national average. Unemployment among graduates is worrying, 1 in 4 graduate does not have a job 6 months after graduation. Studies shown 3 main reasons: job mistmatch, english skills and employability skills. That's the reason I raised in the state assembly that Selangor needs big scale English intensive training and soft-skills development for our graduates to improve employability. As for job mismatch, it is a much bigger problem that requires commitment at the federal level. Selangor government can focus first on the low-hanging fruits which are english and employability skills.

6. In addition, we need to note that only 30 percent of the labour force in Malaysia have tertiary education, more than 50 percent only have secondary school education. To increase the salary of average young Malaysians, governments need to increase upskill trainings or incentivize firms to do so. For example, the Penang Skills Development Centre (PSDC) runs the German Dual Vocational Training (GDVT) Programme in Mechatronics, which is designed to upskill the existing technical workforce and school leavers with international-level skills and competencies. We need to develop our vocational and non-academic education in a more sophisticated manner. Federal and state governments have different programs for upskill and vocational training but a more coordinated action is needed with strategic goal in mind. (Now it's like all over the place.)

7. I ended my speech by sharing my concern with the young comrades that Malaysia may lose out to Vietnam in 10 years. Vietnam students continuously outscored Malaysia students in Program for International Student Assessment (PISA), an international assessment of 15 year-old students for science, maths and reading. In the latest result, Vietnam achieved 12th in the overall ranking based on maths and science while Malaysia tail behind at 52 out of 76 participating countries. While international media is running the news of our country biggest corruption scandal of 1MDB, the latest issue of The Economist ran news on Vietnam rising economy.

8. Where to Malaysian youths? Act quickly, work hard, both poltiically, economically and professionally, or we'll lose out. "Lost generation" shall not describe us, buck up guys!

Firearms Incidents: Border Security Agency

Media Statement by Yeo Bee Yin, State Assemblywoman for Damansara Utama on Thurday 28 July 2016 in Petaling Jaya.

The rampant cases of firearm incidents have shown that the newly set-up Border Security Agency under Home Ministry must buck-up to ensure safety and security of all Malaysians. 

Malaysia is no longer safe. We have heard of many shooting incidents since the beginning of the year, many of which happened in broad daylight. Within this month (July 2016) alone, Malaysians have been shocked by at least six firearm incidents[1]. Many were heartless incidents that send shivers down the spine of everyone who lives and works in Malaysia. In the beginning of the month, 32-year old property agent, Wong Siu Ling was shot dead by two gunmen with five shots in Taman OUG, KL. Her daughter, who was sitting at the passenger seat, was seriously injured by the gunshots targeted at her mother. She is only 8 years old! Then in mid-July, drug addict, Chung Chun Wah shot dead his own mother, brother and two-year-old nephew and his mother’s partner with an unlicensed gun in a chicken factory in Penang. Yesterday, we heard yet another case – a moneylender was shot dead at a traffic light junction in Setapak.

"Jangan Salahkan Mangsa" Anti-Rape Campaign

KUALA LUMPUR, 28^th June 2016 – Yeo Bee Yin, of Pusat Khidmat ADUN Damansara Utama, in conjunction with All Women’s Action Society (AWAM), kicked off their second collaboration centered on anti-rape awareness today. The launch of the new website, antirogol.com, aims to educate and provide survivors and the general public with basic information and resources on rape and sexual violence such as what constitutes rape, information on the laws pertaining to rape in Malaysia and possible steps that survivors could take if rape takes place and other avenues where survivors can seek help.  

On average, 3000 rape cases are reported every year in Malaysia. Over 60% of these cases involved children below eighteen years old. This breaks down to a woman or a child being raped every three hours. More disturbing and important to note is that only two out of ten rape cases are estimated to be reported, which means that the overall number of cases occurring per year would be much higher.

Free Malaysia Today Special Report: Real change means working on the impossible

KUALA LUMPUR: Anyone meeting Damansara Utama assemblywoman Yeo Bee Yin for the first time, would be struck by the strong sense of work ethic that the 33-year-old politician exudes.

This may be in part due to the pragmatism traditionally associated with the engineering profession, which she trained in extensively prior to her entry into politics.

“I am not a natural politician. I was an engineer; I was never really into politics. So the only thought I had when I was asked to join the political scene was that I wanted to make a change in this country,” Yeo said in an interview with FMT last Friday.

A quick look at the Wikipedia page of DAP’s social media strategist, shows she has a First Class Honours degree in Chemical Engineering from Universiti Teknologi Petronas, and a Masters in Philosophy in Advanced Chemical Engineering from Cambridge University under a Gates Cambridge Scholarship, which she completed with a commendation.

Malaysia must recover from Dutch Disease before it kills us.

Media Statement by Yeo Bee Yin, State Assemblywoman for Damansara Utama on Friday 11 March 2016 in Petaling Jaya.

I read with great concern Petronas’ press statement dated 29 February 2016, where it announced that the profit-after-tax recorded by the national oil company in 2015 is RM21 billion[i], which was 56% lower than the year 2014. The drop in profit for Petronas was not unexpected as we have seen crude oil prices falling by 75% in the past 18 months; from USD 110 per barrel to its lowest record since 2003 at USD 27 per barrel, and before it rises again and hovers at USD 35 per barrel.

What concerns me is the fact that with such poor earnings, Petronas may need to tap into its reserve to meet its 2016 RM 16 billion dividend commitment to Putrajaya[ii]. It should be noted that even at the height of 2008's economic crisis and its aftermath, Petronas' dividend paid to Putrajaya was still lower than what it earned, with dividend payout at 39.3% in 2008, 57.1% in 2009 and 74.4% in 2010.

Malaysia harus bingkas daripada ‘Dutch Disease’ sebelum ia membunuh kita semua

Kenyataan media Yeo Bee Yin, Adun Damansara Utama pada hari Khamis 10 Mac 2016 di Petaling Jaya

Malaysia harus bingkas daripada ‘Dutch Disease’ sebelum ia membunuh kita semua.

Saya rasa bimbang membaca kenyataan akhbar Petronas bertarikh 29 Februari 2016 yang mengumumkan keuntungan selepas cukai syarikat minyak negara itu bagi tahun 2015 ialah RM21 bilion [1], 56% lebih rendah berbanding tahun 2014. Menurunnya keuntungan Petronas bukanlah sesuatu yang tidak dijangka memandangkan kita telah melihat kejatuhan harga minyak mentah sehingga 75% sepanjang 18 bulan lalu, daripada US110 satu tong, ke tahap paling rendah sejak tahun 2003 pada harga USD27 satu tong, sebelum ia kembali meningkat dan terapung pada kadar USD30 satu tong.

Apa yang meresahkan saya ialah hakikat bahawa dengan pendapatan yang begitu rendah, Petronas mungkin terpaksa mengorek simpanannya untuk menepati komitmen dividen bagi tahun 2016 sebanyak RM16 bilion kepada Putrajaya [2]. Wajar diperhatikan juga bahawa di kemuncak krisis ekonomi 2008 dan selepasnya, dividen yang dibayar oleh Petronas kepada Putrajaya masih lebih rendah berbanding pendapatannya, dengan dividen berbayar pada kadar 39.3% pada tahun 2008, 57.1% pada tahun 2009 dan 74.4% pada 2010.

DAP Wanita Selangor Media Statement: Quality, Affordable and Safe Childcare Services

Media Statement by Hannah Yeoh and Yeo Bee Yin, DAP Wanita Selangor Chairwoman and Organizing Secretary on behalf of DAP Wanita Selangor on Tuesday 8 March in Petaling Jaya.  

On this International Women’s Day, DAP Wanita Selangor urges the Selangor State Government to take the lead and set an example in empowering women by providing and promoting quality, affordable and safe childcare services.

Today, for many women, juggling domestic responsibilities and career aspirations is a reality they have to contend with on a day-to-day basis. It is commonly acknowledged that one of the main reasons women leave the workforce is due to childbirth. This reveals that the responsibility of childcare still lies largely on the shoulders of women. In many instances, the increasingly high costs of childcare in Malaysia forces one parent (usually the mother) to stay home to care for the child.

Review JPA's 'convertible loan' scholarship policy

Media Statement by Yeo Bee Yin, State Assemblywoman for Damansara Utama on Saturday 27 February 2016.

We call upon Putrajaya to review JPA’s unjustifiable “convertible-loan” scholarship policy immediately.

Recently JPA has dropped another bombshell on its scholarship offer, of which all the scholarships it offers from 2016 will be in the form of convertible loan[1]. Upon completion of their studies, JPA scholars are mandated to work in public sector. If they choose to work in government-linked-companies (GLCs) or private sector, they will have to pay back 50% or 100% of the scholarship amount respectively.