Monday, 27 July 2020

What Malaysian Leaders Earn Compared to Their Citizens



According to Adzuna, on average world leaders earn 6x more their citizens. In Malaysia, that may not be true!

According to Department of Statistics Malaysia, the mean income in Malaysia (2019) was RM7,901 while median income was RM5,878. Survey findings also showed that income threshold for B40 in 2019 was RM4,849. The M40 group was between RM4,850 to RM10,959. And the T20 had income of more than RM10,960. The Gini coefficient in 2019 was 0.407. And the poverty line was RM2,208 per month for 2019.

Income Structure by Household Group
Malaysia, 2016 and 2019

Source: Department of Statistics, Malaysia


Compared to the above, we have 49 out 57 Ministers and Deputy Ministers who are now millionaires. The other 13 Ministers/Deputy Ministers have yet to declare their assets. This is according to MACC. Meanwhile, 11 out of 57 possess assets worth more than RM10 million. We have no idea if that is above RM100 million for some or above RM1 billion for others.

The Prime Minister (PM) has a monthly income of RM93,841.65 as of July 15. This is followed by the Minister of Federal Territories with RM87,877.20. A Deputy Minister from Sabah is in third place at RM85,450 per month. The lowest earning Minister has a monthly income of only RM24,687. Poor thing!

If you compare the PM’s monthly income to the Malaysian median income it is 16x higher (not 6x as Adzuna reports). And if you compare that to the poverty line, it is 42.5 times! And all these could be worse if you include incomes and assets of those colourful Members of Parliament.




References:
1. MACC Asset Declaration List Shows 49 Millionaire Ministers, Deputies, TheEdge CEO Morning Brief, July 23, 2020
2. Household Income & Basic Amenities Survey Report 2019, Department of Statistics, Malaysia, 10 July 2020

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