RM 5K TO TRADE IN OLD CAR FOR NEW

The title actually is a head in NST today, further read here.

I would see this is an initiative by our government to response current world car industry situation where by there are thousand of cars cannot be sell and most of the cases these are are at the port, in the manufacture vicinity or at the 3rd party area...

Government have to do this in order to make our car industry move or else our workers in car industries also will be affected as same as car manufactures workers around the world. Reported in web site among others;

1. Nissan has announced plans to cut its Sunderland workforce by 1,200.
2. Jaguar Land Rover said 450 British jobs would go.
3. This week BMW laid off 850 at its Mini factory in Cowley, Oxfordshire
4. Aston Martin cut 600 positions, around a third of the workforce
5. GM says 47,000 jobs will be lost world wide

Source: Channel4.com

Another story HONDA CEO, Takeo Fukui will step down from his position and will be taken by current Senior MD, Mr. Takanobu Ito from June.