<TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR>July 30, 2009
</TR><!-- headline one : start --><TR>Live within means <!--10 min-->
</TR><!-- headline one : end --><!-- show image if available --></TBODY></TABLE>
<!-- START OF : div id="storytext"-->THE current recession holds some lessons for Malays, and one they have already taken to heart is the need for training to keep themselves competitive and employable in the job market.
<TABLE width=200 align=left valign="top"><TBODY><TR><TD class=padr8><!-- Vodcast --><!-- Background Story --><STYLE type=text/css> #related .quote {background-color:#E7F7FF; padding:8px;margin:0px 0px 5px 0px;} #related .quote .headline {font-family: Verdana, Arial, Helvetica, sans-serif; font-size:10px;font-weight:bold; border-bottom:3px double #007BFF; color:#036; text-transform:uppercase; padding-bottom:5px;} #related .quote .text {font-size:11px;color:#036;padding:5px 0px;} </STYLE>DEBT SPIRAL
'THEY have extended themselves in terms of credit, buying homes beyond their means...there is a downward spiral effect.'
Dr Yaacob Ibrahim
</TD></TR></TBODY></TABLE>However, Minister-in-charge of Muslim Affairs Yaacob Ibrahim said there is something else they need to take heed of as well - to exercise prudence in spending money, especially during the upcoming festive season.
He also has this message for the Malay community here: Avoid spending habits that will bear negative consequences for future generations.
Citing examples of families who sold their homes and ended up having to stay with relatives, he said '20 people in a three-room flat' is an environment which 'cannot be conducive for the children's education'. He added: 'There is enough evidence to suggest that the Malay community is overstretched.
'They have extended themselves in terms of credit, buying homes beyond their means...there is a downward spiral effect.'
Ooi! Who say my bee hives are not affordable? Mai sabo hor!
Dr Yaacob, who is also the Minister for the Environment and Water Resources, was speaking at the official opening of the second branch of Mendaki's training arm, Social Enterprise Network Singapore (Sense), at Woodlands Community Club yesterday.
During his speech, he announced that Mendaki Sense saw 5,400 training places filled in the first half of this year, a 13 per cent jump from the same period last year.
This number is already more than half the 10,000 training positions that Mendaki Sense aims to fill this year.
This pro-active attitude towards training, said Dr Yaacob, was one good thing that came out of the downturn.
He added that many who have jobs are now more keen to upgrade themselves to prepare for a worst-case scenario. This group, he said, occupied 80 per cent of the training places taken up during the first half of this year.
</TR><!-- headline one : start --><TR>Live within means <!--10 min-->
</TR><!-- headline one : end --><!-- show image if available --></TBODY></TABLE>
<!-- START OF : div id="storytext"-->THE current recession holds some lessons for Malays, and one they have already taken to heart is the need for training to keep themselves competitive and employable in the job market.
<TABLE width=200 align=left valign="top"><TBODY><TR><TD class=padr8><!-- Vodcast --><!-- Background Story --><STYLE type=text/css> #related .quote {background-color:#E7F7FF; padding:8px;margin:0px 0px 5px 0px;} #related .quote .headline {font-family: Verdana, Arial, Helvetica, sans-serif; font-size:10px;font-weight:bold; border-bottom:3px double #007BFF; color:#036; text-transform:uppercase; padding-bottom:5px;} #related .quote .text {font-size:11px;color:#036;padding:5px 0px;} </STYLE>DEBT SPIRAL
'THEY have extended themselves in terms of credit, buying homes beyond their means...there is a downward spiral effect.'
Dr Yaacob Ibrahim
</TD></TR></TBODY></TABLE>However, Minister-in-charge of Muslim Affairs Yaacob Ibrahim said there is something else they need to take heed of as well - to exercise prudence in spending money, especially during the upcoming festive season.
He also has this message for the Malay community here: Avoid spending habits that will bear negative consequences for future generations.
Citing examples of families who sold their homes and ended up having to stay with relatives, he said '20 people in a three-room flat' is an environment which 'cannot be conducive for the children's education'. He added: 'There is enough evidence to suggest that the Malay community is overstretched.
'They have extended themselves in terms of credit, buying homes beyond their means...there is a downward spiral effect.'
Ooi! Who say my bee hives are not affordable? Mai sabo hor!
Dr Yaacob, who is also the Minister for the Environment and Water Resources, was speaking at the official opening of the second branch of Mendaki's training arm, Social Enterprise Network Singapore (Sense), at Woodlands Community Club yesterday.
During his speech, he announced that Mendaki Sense saw 5,400 training places filled in the first half of this year, a 13 per cent jump from the same period last year.
This number is already more than half the 10,000 training positions that Mendaki Sense aims to fill this year.
This pro-active attitude towards training, said Dr Yaacob, was one good thing that came out of the downturn.
He added that many who have jobs are now more keen to upgrade themselves to prepare for a worst-case scenario. This group, he said, occupied 80 per cent of the training places taken up during the first half of this year.
