Malaysians lose jobs

More were expected to be jobless in the days ahead as companies, particularly in the manufacturing sector, struggle to keep their businesses afloat, he said.
In an urgent appeal to the government, it was of utmost importance for the second stimulus economic package to be released fast so that companies could know clearly where they stood, he said.
The Malaysian government released a 7 billion ringgit (19.55 billion U.S. dollars) economic stimulus package last month and Deputy Prime Minister Najib Tun Razak had promised a second package soon.
The economic downturn this time was much worse than the one in 1997 because it was more widespread and involved the major parts of the world, Shamsuddin said.
The situation was more critical as almost 600,000 local new jobseekers were flooding the job market every year, he said.

Rebuilding confidence

Sanlu Group, the main dairy involved in the melamine scandal, has also said it will borrow 500 million yuan (73 million U.S. dollars) from the local government to compensate its business partners. The collapsed dairy giant based in Shijiazhuang, Hebei province, is also responsible for paying 900 million yuan to families of victims hit by the scandal in a controversial compensation scheme.
Wang said that his administration will assist other ministries to revamp the risk analysis and recall system for products, as well as eradicate the illegal use of substances like melamine in food production.
"The milk powder incident is a tough lesson that shows the loopholes in the government's surveillance system," Wang said in his address.