KUALA LUMPUR, June 4 — Malaysians requiring just US$485,000 in net worth to count as the richest 1 per cent in the country was not necessarily an unfavourable situation, economists said.Malay Mail
“In Malaysia, even a school teacher can afford to live in a bungalow if you live a bit further from big cities,” he said, using the term bungalow typically used here for detached homes or to describe large houses. “So, there is no need to rush to make our country as wealthy as Singapore or Switzerland. It will only result in a higher cost of living for most ordinary people,” he said.
For example, the GDP per capita of Singapore is around US$70,000 while that of Malaysia is around US$11,000, he said.
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