The world oil price has been quite a yo-yo of late. As of this morning, it was reported that oil price is now at US$60.77, an all time low since March 2007. Markets around the world are also falling. Our KLSE is no different, as a quick check on the top counters today revealed most of them to be sliding. With such volatile market conditions, it’s save to say most investors have now become spectators, watching the market closely. Even when prices are at all time lows, the uncertainties surrouding us make it difficult to make the buying call.
On a brighter note, I wonder if the next petrol price revision, which is speculated to be happening around November 15 will bring us even further reduction. And I wonder how the Government’s negotiation with the retailers to reduce prices of goods is coming along.
On the topic of increasing consumer spending through lower contribution towards EPF, it has been confirmed that starting Jan 1 2009, all employees’ EPF contribution will automatically be changed from 11% to 8%. If you do not want to reduce your contribution, you need to fill out a form and have it processed by your employer. So set your reminder to do so when the time comes, if you are one of those who do not agree to lessen your savings for the future.
