SOCIOECONOMIC STATUS IN MALAYSIA
Keywords:
Financial planning, finance management, cash inflow, cash outflow, , market equilibrium
Abstract
Financial planning and management are interrelated topics. They act as emergency kits to prepare for monetary value in economic policy. By earning income, cash inflows, and outflows for future savings and expenditures. The cycle continues until there is a twist in the financial story. However, money did not grow on these trees. They have to make one. It can be life-saving for the best investment and insurance in life. Monetary value changes depending on the financial statements and policies, that go on and on to achieve market equilibrium. Even the most devastating event destroys precious opportunities to save lives. What counts is life.
References
1. Skinner, C. (2018). Issues and Challenges in Census Taking. Annual Review of Statistics and Its Application, 5(1), 49–63. https://doi.org/10.1146/annurev-statistics-041715-033713.
2. Lovaton Davila, R., McCarthy, A. S., Gondwe, D., Kirdruang, P., & Sharma, U. (2021). Water, walls, and bicycles: wealth index composition using census microdata. Journal of Demographic Economics, 88(1), 79–120. https://doi.org/10.1017/dem.2020.27.
3. Kenton, W. (2022, April 26). Bureau of Census. Investopedia. https://www.investopedia.com/terms/b/bureauofcensus.asp.
4. Hayes, A. (2022, August 31). Demographics: How to Collect, Analyze, and Use Demographic Data. Investopedia. https://www.investopedia.com/terms/d/demographics.asp.
5. Harris, R. (2024, January 8). Why the UK census should not be replaced with alternative sources of data. The Conversation. https://theconversation.com/why-the-uk-census-should-not-be-replaced-with-alternative-sources-of-data-220550.
6. Statsmalaysia Statsmalaysia, D. (2018). TOWARDS POPULATION & HOUSING CENSUS OF MALAYSIA, 2020 (DATA COLLECTION WITH INTERNET) Asia Pacific Regional Workshop on the Use of Technology in Population and Housing Census. https://www.unescap.org/sites/default/files/Session5_Towards_Population_Housing_Census_of_Malaysia_2020_Cambodia_Census_WS_24-27Jan2018_0.pdf.
7. New Straits Times (2023, July 31). Malaysia’s population to grow 2.1 per cent this year | New Straits Times. NST Online. https://www.nst.com.my/news/nation/2023/07/937061/malaysias-population-grow-21-cent-year.
8. Malaysia beyond 2020. (n.d.). https://www.ekonomi.gov.my/sites/default/files/2021-05/Chapter%2010.pdf.
9. United Nations Statistics Division (2010). 2010 World Population and Housing Census Programme [PowerPoint slides]. https://unstats.un.org>wshops>docs>Session02.
10. Padu can help simplify nationwide census data collection. (n.d.). The Star. Retrieved March 6, 2024, from https://www.thestar.com.my/metro/metro-news/2024/01/29/padu-can-help-simplify-nationwide-census-data-collection#:~:text=Mohd%20Uzir%20says%20more%20than.
11. Padu data essential to create new, impactful govt initiatives, says Statistics Dept. (n.d.). The Star. Retrieved March 6, 2024, from https://www.thestar.com.my/opinion/letters/2024/01/10/padu-data-essential-to-create-new-impactful-govt-initiatives-says-statistics-dept.
12. T.N.Alagesh. (2024, February 9). Beware of scammers taking advantage of nationwide Padu registration | New Straits Times. NST Online. https://www.nst.com.my/news/nation/2024/02/1011575/beware-scammers-taking-advantage-nationwide-padu-registration.
13. Hanifah Hajar: Streamlined data integration reduces gov’t census, research costs. (n.d.). Thesun.my. Retrieved March 6, 2024, from https://thesun.my/local_news/hanifah-hajar-streamlined-data-integration-reduces-gov-t-census-research-costs-GB11542523.
14. Agro census to chart food policies. (n.d.). The Star. https://www.thestar.com.my/news/nation/2023/10/21/agro-census-to-chart-food-policies.
15. SHAMSUDIN, R. (2023, December 19). Agriculture Census set for 2024 | New Straits Times. NST Online. https://www.nst.com.my/news/nation/2023/12/992268/agriculture-census-set-2024#:~:text=THE%20Statistics%20Department%20Malaysia%20(DoSM.
16. Bernama. (2023, December 17). Engagement sessions on agriculture census 2024 held with state governments | New Straits Times. NST Online. https://www.nst.com.my/news/nation/2023/12/991516/engagement-sessions-agriculture-census-2024-held-state-governments.
17. “AI for Rakyat” a step towards making M’sia top global AI hub, says Rafizi. (n.d.). The Star. Retrieved March 6, 2024, from https://www.thestar.com.my/news/nation/2024/01/16/ai-for-rakyat-a-step-towards-making-m039sia-top-global-ai-hub-says-rafizi.
18. Gilbert, J. (2023, September 18). “Padu: Governance by data” | New Straits Times. NST Online. https://www.nst.com.my/business/2023/09/956583/padu-governance-data.
19. Padu a useful tool in overcoming poverty, Bumiputra Economic Congress told. (n.d.). The Star. Retrieved March 6, 2024, from https://www.thestar.com.my/news/nation/2024/03/01/padu-a-useful-tool-in-overcoming-poverty-bumiputra-economic-congress-told#:~:text=PUTRAJAYA%3A%20The%20Central%20Database%20Hub.
20. Jun, S. W. (2024, February 24). Padu a good way to centralise data but manual registration and self-reporting prone to bias, loopholes and leakages, says Penang think tank. Malay Mail. https://www.malaymail.com/news/malaysia/2024/02/24/padu-a-good-way-to-centralise-data-but-manual-registration-and-self-reporting-prone-to-bias-loopholes-and-leakages-says-penang-think-tank/119662#google_vignette.
21. O’keefe, K., Daragh O'brien, & Page, K. (2018). Ethical data and information management : concepts, tools and methods. Kogan Page.
22. Understanding Wealth: How Is It Defined and Measured? (n.d.). Investopedia. https://www.investopedia.com/terms/w/wealth.asp#:~:text=Wealth%20is%20a%20stock%20variable.
23. Schaeffer, K. (2021, July 23). “What’s the difference between income and wealth?” and other common questions about economic concepts. Decoded. https://www.pewresearch.org/decoded/2021/07/23/whats-the-difference-between-income-and-wealth-and-other-common-questions-about-economic-concepts/.
24. Britannica Money. (n.d.). www.britannica.com. https://www.britannica.com/money/distribution-of-wealth-and-income.
25. Harun, H. N. (2023, July 28). Households income in Malaysia on the rise, says DOSM | New Straits Times. NST Online. https://www.nst.com.my/news/nation/2023/07/935920/households-income-malaysia-rise-says-dosm.
26. Not forced to update info on Padu. (n.d.). The Star. Retrieved March 12, 2024, from https://www.thestar.com.my/news/nation/2023/12/30/not-forced-to-update-info-on-padu.
27. Public should not be concerned about Padu as data regulated under existing laws, says MDEC chairman | New Straits Times. (2024, January 2). NST Online. https://www.nst.com.my/business/corporate/2024/01/996347/public-should-not-be-concerned-about-padu-data-regulated-under.
28. Zahiid, S. J. (2024, January 4). Lawyers’ group: Padu shouldn’t be running until data privacy law beefed up. Malay Mail. https://www.malaymail.com/news/malaysia/2024/01/04/lawyers-group-padu-shouldnt-be-running-until-data-privacy-law-beefed-up/110574.
29. Harun, H. N. (2023, July 28). Households income in Malaysia on the rise, says DOSM | New Straits Times. NST Online. https://www.nst.com.my/news/nation/2023/07/935920/households-income-malaysia-rise-says-dosm.
30. Saulo, H., Vila, R., Borges, G. V., Bourguignon, M., Leiva, V., & Marchant, C. (2023). Modeling Income Data via New Parametric Quantile Regressions: Formulation, Computational Statistics, and Application. Mathematics, 11(2), 448. https://doi.org/10.3390/math11020448.
31. Haupt, H., & Fritsch, M. (2022). Quantile Trend Regression and Its Application to Central England Temperature. Mathematics, 10(3), 413. https://doi.org/10.3390/math10030413.
32. Shin, K., & You, S. (2021). Quantile Regression Analysis between the After-School Exercise and the Academic Performance of Korean Middle School Students. Mathematics, 10(1), 58. https://doi.org/10.3390/math10010058.
33. kjytay. (2019, February 1). Quantile regression in R | R-bloggers. https://www.r-bloggers.com/2019/01/quantile-regression-in-r-2/.
34. Abdul Razak, F., & Ahmad Shahabuddin, F. (2018). Malaysian Household Income Distribution: A Fractal Point of View. Sains Malaysiana, 47(9), 2187–2194. https://doi.org/10.17576/jsm-2018-4709-29.
35. Safari, M. A. M., & Masseran, N. (2019). Measuring Income Inequality in Malaysia Based on household Income Survey. Journal of Quality Measurement and Analysis, 15, 59-75.
36. Shao, L. F. (2021). Robust determinants of income distribution across and within countries. PLOS ONE, 16(7), e0253291. https://doi.org/10.1371/journal.pone.0253291.
37. Man, T., & Ng, A. (n.d.). THE STATE OF HOUSEHOLDS 2018 MORE OR LESS EQUAL? Accounting for missing top and bottom incomes in measurement of income inequality in Malaysia. https://www.krinstitute.org/assets/contentMS/img/template/editor/Technical%20Note%201_20181018.pdf.
38. Hassan, M. M., Ahmad, N., & Hashim, A. H. (2021). A review on housing affordability in Malaysia: are we doing fine. Malaysian Journal of Consumer and Family Economics, 26, 181-206.
39. Sang, L. T., Mohidin, R., & Budin, D. S. A. (2020). The role of financial knowledge on life insurance and family takaful awareness. Malaysian Journal of Business and Economics (MJBE), 7(1), 131-131.
40. Ch’ng, Z. L. (2023, February). Factors Influencing Purchase Intention on Life Insurance in Low Rate of Urbanization States in Malaysia. In 10th International Conference on Business, Accounting, Finance and Economics (BAFE 2022) (pp. 3-13). Atlantis Press.
41. Radam, A. (2000). Productivity and efficiency performance of the Malaysian life insurance industry. J]. Journal Ekonomi Malaysia, 34, 93-105.
42. Low, D., Nathan, R., Gorgenyi-Hegyes, E., & Fekete-Farkas, M. (2021). The demand for life insurance in a developing country and the mediating role of persuasion. Journal of International Studies, 14(3), 138–154. https://doi.org/10.14254/2071-8330.2021/14-3/9.
43. Kenton, W. (2022, February 9). What is personal finance, and why is it important? Investopedia. https://www.investopedia.com/terms/p/personalfinance.asp.
44. An Analysis of the PADU System in Malaysia – 27 Advisory. (n.d.). https://27.group/analysis-padu-system-malaysia/.
2. Lovaton Davila, R., McCarthy, A. S., Gondwe, D., Kirdruang, P., & Sharma, U. (2021). Water, walls, and bicycles: wealth index composition using census microdata. Journal of Demographic Economics, 88(1), 79–120. https://doi.org/10.1017/dem.2020.27.
3. Kenton, W. (2022, April 26). Bureau of Census. Investopedia. https://www.investopedia.com/terms/b/bureauofcensus.asp.
4. Hayes, A. (2022, August 31). Demographics: How to Collect, Analyze, and Use Demographic Data. Investopedia. https://www.investopedia.com/terms/d/demographics.asp.
5. Harris, R. (2024, January 8). Why the UK census should not be replaced with alternative sources of data. The Conversation. https://theconversation.com/why-the-uk-census-should-not-be-replaced-with-alternative-sources-of-data-220550.
6. Statsmalaysia Statsmalaysia, D. (2018). TOWARDS POPULATION & HOUSING CENSUS OF MALAYSIA, 2020 (DATA COLLECTION WITH INTERNET) Asia Pacific Regional Workshop on the Use of Technology in Population and Housing Census. https://www.unescap.org/sites/default/files/Session5_Towards_Population_Housing_Census_of_Malaysia_2020_Cambodia_Census_WS_24-27Jan2018_0.pdf.
7. New Straits Times (2023, July 31). Malaysia’s population to grow 2.1 per cent this year | New Straits Times. NST Online. https://www.nst.com.my/news/nation/2023/07/937061/malaysias-population-grow-21-cent-year.
8. Malaysia beyond 2020. (n.d.). https://www.ekonomi.gov.my/sites/default/files/2021-05/Chapter%2010.pdf.
9. United Nations Statistics Division (2010). 2010 World Population and Housing Census Programme [PowerPoint slides]. https://unstats.un.org>wshops>docs>Session02.
10. Padu can help simplify nationwide census data collection. (n.d.). The Star. Retrieved March 6, 2024, from https://www.thestar.com.my/metro/metro-news/2024/01/29/padu-can-help-simplify-nationwide-census-data-collection#:~:text=Mohd%20Uzir%20says%20more%20than.
11. Padu data essential to create new, impactful govt initiatives, says Statistics Dept. (n.d.). The Star. Retrieved March 6, 2024, from https://www.thestar.com.my/opinion/letters/2024/01/10/padu-data-essential-to-create-new-impactful-govt-initiatives-says-statistics-dept.
12. T.N.Alagesh. (2024, February 9). Beware of scammers taking advantage of nationwide Padu registration | New Straits Times. NST Online. https://www.nst.com.my/news/nation/2024/02/1011575/beware-scammers-taking-advantage-nationwide-padu-registration.
13. Hanifah Hajar: Streamlined data integration reduces gov’t census, research costs. (n.d.). Thesun.my. Retrieved March 6, 2024, from https://thesun.my/local_news/hanifah-hajar-streamlined-data-integration-reduces-gov-t-census-research-costs-GB11542523.
14. Agro census to chart food policies. (n.d.). The Star. https://www.thestar.com.my/news/nation/2023/10/21/agro-census-to-chart-food-policies.
15. SHAMSUDIN, R. (2023, December 19). Agriculture Census set for 2024 | New Straits Times. NST Online. https://www.nst.com.my/news/nation/2023/12/992268/agriculture-census-set-2024#:~:text=THE%20Statistics%20Department%20Malaysia%20(DoSM.
16. Bernama. (2023, December 17). Engagement sessions on agriculture census 2024 held with state governments | New Straits Times. NST Online. https://www.nst.com.my/news/nation/2023/12/991516/engagement-sessions-agriculture-census-2024-held-state-governments.
17. “AI for Rakyat” a step towards making M’sia top global AI hub, says Rafizi. (n.d.). The Star. Retrieved March 6, 2024, from https://www.thestar.com.my/news/nation/2024/01/16/ai-for-rakyat-a-step-towards-making-m039sia-top-global-ai-hub-says-rafizi.
18. Gilbert, J. (2023, September 18). “Padu: Governance by data” | New Straits Times. NST Online. https://www.nst.com.my/business/2023/09/956583/padu-governance-data.
19. Padu a useful tool in overcoming poverty, Bumiputra Economic Congress told. (n.d.). The Star. Retrieved March 6, 2024, from https://www.thestar.com.my/news/nation/2024/03/01/padu-a-useful-tool-in-overcoming-poverty-bumiputra-economic-congress-told#:~:text=PUTRAJAYA%3A%20The%20Central%20Database%20Hub.
20. Jun, S. W. (2024, February 24). Padu a good way to centralise data but manual registration and self-reporting prone to bias, loopholes and leakages, says Penang think tank. Malay Mail. https://www.malaymail.com/news/malaysia/2024/02/24/padu-a-good-way-to-centralise-data-but-manual-registration-and-self-reporting-prone-to-bias-loopholes-and-leakages-says-penang-think-tank/119662#google_vignette.
21. O’keefe, K., Daragh O'brien, & Page, K. (2018). Ethical data and information management : concepts, tools and methods. Kogan Page.
22. Understanding Wealth: How Is It Defined and Measured? (n.d.). Investopedia. https://www.investopedia.com/terms/w/wealth.asp#:~:text=Wealth%20is%20a%20stock%20variable.
23. Schaeffer, K. (2021, July 23). “What’s the difference between income and wealth?” and other common questions about economic concepts. Decoded. https://www.pewresearch.org/decoded/2021/07/23/whats-the-difference-between-income-and-wealth-and-other-common-questions-about-economic-concepts/.
24. Britannica Money. (n.d.). www.britannica.com. https://www.britannica.com/money/distribution-of-wealth-and-income.
25. Harun, H. N. (2023, July 28). Households income in Malaysia on the rise, says DOSM | New Straits Times. NST Online. https://www.nst.com.my/news/nation/2023/07/935920/households-income-malaysia-rise-says-dosm.
26. Not forced to update info on Padu. (n.d.). The Star. Retrieved March 12, 2024, from https://www.thestar.com.my/news/nation/2023/12/30/not-forced-to-update-info-on-padu.
27. Public should not be concerned about Padu as data regulated under existing laws, says MDEC chairman | New Straits Times. (2024, January 2). NST Online. https://www.nst.com.my/business/corporate/2024/01/996347/public-should-not-be-concerned-about-padu-data-regulated-under.
28. Zahiid, S. J. (2024, January 4). Lawyers’ group: Padu shouldn’t be running until data privacy law beefed up. Malay Mail. https://www.malaymail.com/news/malaysia/2024/01/04/lawyers-group-padu-shouldnt-be-running-until-data-privacy-law-beefed-up/110574.
29. Harun, H. N. (2023, July 28). Households income in Malaysia on the rise, says DOSM | New Straits Times. NST Online. https://www.nst.com.my/news/nation/2023/07/935920/households-income-malaysia-rise-says-dosm.
30. Saulo, H., Vila, R., Borges, G. V., Bourguignon, M., Leiva, V., & Marchant, C. (2023). Modeling Income Data via New Parametric Quantile Regressions: Formulation, Computational Statistics, and Application. Mathematics, 11(2), 448. https://doi.org/10.3390/math11020448.
31. Haupt, H., & Fritsch, M. (2022). Quantile Trend Regression and Its Application to Central England Temperature. Mathematics, 10(3), 413. https://doi.org/10.3390/math10030413.
32. Shin, K., & You, S. (2021). Quantile Regression Analysis between the After-School Exercise and the Academic Performance of Korean Middle School Students. Mathematics, 10(1), 58. https://doi.org/10.3390/math10010058.
33. kjytay. (2019, February 1). Quantile regression in R | R-bloggers. https://www.r-bloggers.com/2019/01/quantile-regression-in-r-2/.
34. Abdul Razak, F., & Ahmad Shahabuddin, F. (2018). Malaysian Household Income Distribution: A Fractal Point of View. Sains Malaysiana, 47(9), 2187–2194. https://doi.org/10.17576/jsm-2018-4709-29.
35. Safari, M. A. M., & Masseran, N. (2019). Measuring Income Inequality in Malaysia Based on household Income Survey. Journal of Quality Measurement and Analysis, 15, 59-75.
36. Shao, L. F. (2021). Robust determinants of income distribution across and within countries. PLOS ONE, 16(7), e0253291. https://doi.org/10.1371/journal.pone.0253291.
37. Man, T., & Ng, A. (n.d.). THE STATE OF HOUSEHOLDS 2018 MORE OR LESS EQUAL? Accounting for missing top and bottom incomes in measurement of income inequality in Malaysia. https://www.krinstitute.org/assets/contentMS/img/template/editor/Technical%20Note%201_20181018.pdf.
38. Hassan, M. M., Ahmad, N., & Hashim, A. H. (2021). A review on housing affordability in Malaysia: are we doing fine. Malaysian Journal of Consumer and Family Economics, 26, 181-206.
39. Sang, L. T., Mohidin, R., & Budin, D. S. A. (2020). The role of financial knowledge on life insurance and family takaful awareness. Malaysian Journal of Business and Economics (MJBE), 7(1), 131-131.
40. Ch’ng, Z. L. (2023, February). Factors Influencing Purchase Intention on Life Insurance in Low Rate of Urbanization States in Malaysia. In 10th International Conference on Business, Accounting, Finance and Economics (BAFE 2022) (pp. 3-13). Atlantis Press.
41. Radam, A. (2000). Productivity and efficiency performance of the Malaysian life insurance industry. J]. Journal Ekonomi Malaysia, 34, 93-105.
42. Low, D., Nathan, R., Gorgenyi-Hegyes, E., & Fekete-Farkas, M. (2021). The demand for life insurance in a developing country and the mediating role of persuasion. Journal of International Studies, 14(3), 138–154. https://doi.org/10.14254/2071-8330.2021/14-3/9.
43. Kenton, W. (2022, February 9). What is personal finance, and why is it important? Investopedia. https://www.investopedia.com/terms/p/personalfinance.asp.
44. An Analysis of the PADU System in Malaysia – 27 Advisory. (n.d.). https://27.group/analysis-padu-system-malaysia/.
Published
2024-06-29
How to Cite
Nur Aifiah Binti Ibrahim. (2024). SOCIOECONOMIC STATUS IN MALAYSIA. IJRDO Journal of Economics, Planning and Finance Management, 2(1), 1-6. Retrieved from http://cpcalendars.ijrdo.org/index.php/epfm/article/view/6101
Section
Articles
