Savings Of Low Income Households In Northern States Of Malaysia

The first objective of this study is to assess the amount of household savings with different savings measurements in Malaysia. The second objective is to analyse the determinants of household savings in Malaysia. The third objective is to assess the savings mechanism used by the low income households in the Northern States of Malaysia. The last objective of this study is to assess the impact of risks and other factors towards the savings of low income households in the northern states of Malaysia

Cost-effective Analysis of Drone for Disaster Victim Identification (DVI): Islamic Insurance Perspectives

Islamic insurance(takaful) companies use cutting-edge technology to serve their customers better. Drone adoption in the sector has been intermittent, with certain regions of the globe making more use of this technology than others. The process of identifying corpses (often in large numbers) after a catastrophe is known as disaster victim identification. This study provides preliminary results based on cost-effectiveness analysis, net present value and internal rate of return to assess the cost impact of potential drone adoption. The two most essential opportunity costs to consider are time and money.   Keywords: drone; Islamic insurance; takaful; disaster   eISSN: 2398-4287 © 2022. The Authors. Published for AMER ABRA cE-Bs by e-International Publishing House, Ltd., UK. This is an open-access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/). Peer–review under the responsibility of AMER (Association of Malaysian Environment-Behaviour Researchers), ABRA (Association of Behavioural Researchers on Asians/Africans/Arabians), and cE-Bs (Centre for Environment-Behaviour Studies), Faculty of Architecture, Planning & Surveying, Universiti Teknologi MARA, Malaysia. DOI: https://doi.org/10.21834/ebpj.v7i21.374

Solid Waste Management in Malaysia: An overview

Malaysia is heavily dependent on landfilling as a method of waste disposal, and as a result, severe space constraints, health issues, and environmental issues will eventually affect the country. This essay aims to give a general overview of solid waste recycling in Malaysia at the level that affects a community or country the most, the family. In Malaysia, households are the main producers of municipal solid waste, with recyclable materials making up between 70 and 80 percent of the total waste found in landfills. To improve solid waste management from a recycling perspective, it is important to consider Malaysia's current household solid waste recycling policy and program status. Wastes are still dumped in open areas of land without any attempt at recovery or recycling, despite the high potential and opportunities for doing so. Malaysia's rate of 5% illustrates the rarity of this practice when compared to recycling rates in neighboring nations. The government is committed to greatly enhancing solid waste management services for all citizens, particularly waste minimization. Since wastes, separation, and recycling make up a sizable portion of the major changes in the current policy implementation, it is a good thing that the emphasis on recycling as a sustainable waste management strategy has undergone a paradigm shift. The question of whether the 2020 goals can be met is still up in the air, but there is a chance for a successful implementation of sustainable solid waste management. These issues and challenges in recycling practice were highlighted in this context

Consumption-Savings Pattern of Low Income Households towards a Sustainable Livelihood – A Gender Perspective

A report by Khazanah Research Institute on the State of Households in 2015 revealed that majority of Malaysian households owned items such as cars, motorcycles, refrigerators, televisions, mobile phones, satellite TVs and internet subscriptions and that most low-income households acquired these items and services on credit. The report further concluded that this trend was also accompanied by low personal savings. While strong income growth has in turn, helped alleviate poverty and added to the legions of the middle-income, incidentally, this has fuelled consumption; with households increasingly use debt for spending. Interestingly, low-income households do not only have low personal savings due to high consumption, but low personal savings due to high consumption of assets (productive and non productive) that act as buffers against any unanticipated events such as loss of job or income. By using a structured questionnaire on 300 low-income households, the objectives of the study are (i) to examine the consumption-savings pattern of low-income households and (ii) to assess the consumption-savings pattern between genders. Low-income households are identified as households earning MYR 3,600 per month. Data gathered on personal savings include cash savings, savings for pilgrimage, gold, kut (rotational savings scheme), community death benefits, land and propert

Patterns of income distribution in the Northern States of Malaysia: A life cycle approach

Income distribution can be defined as equality in which income is dealt out among members of a society. Income distribution is measured by how much income is earned by different segments of a population. In Malaysia, a common measure of income distribution is through calculating mean monthly income. The reported mean monthly income uses macroeconomic data segregated into ethnicity, states and urban-rural. At present, there is no income distribution measurement specifically for the Northern States of Malaysia. Therefore this study aims to estimate and identify the patterns of income distribution using different categories of income. The categories of income used are employment income, property income and gross income. This study uses 2009 Household Income Survey (HIS) data where 30 per cent of total observations are used. The findings confirm the LCH theory. There are different peak ages with different categories of income. However, the peak is not as high as proposed by Modigliani and Brumberg (1954). Calculation of mean income of different categories shows that the income from employment takes a large portion of total income

Social Cost-Benefit Analysis (SCBA) of Islamic Insurance (takaful) Drone-Assisted Disaster Victim Identification: Emotional Management

Islamic insurance (takaful) companies have continuously used the latest technology to serve their customers better. One of the potential technologies that takaful operators can consider is drones. Nonetheless, the adoption of drones has shown an imbalanced pattern between regions, with some countries displaying more commendable experiences than others. In the context of Malaysia, such adoption can be regarded as negligible, if not minimal. While drones have numerous positive effects, this study focuses on emotional management through the lens of social cost-benefit analysis (SCBA) based on disaster victim identification (DVI). DVI is the process of identifying corpses (often in large numbers) following a disaster, either natural or man-made disaster. This study provides preliminary findings that support the need for drones to be integrated into takaful operations, based on the SCBA method focusing on emotional management. The findings indicate that emotional management affects not only the family of the victim but also the first responders involved in the search and rescue (SAR) operation and their families. Hence, proper consideration must be given to using drones in takaful operations with the government disaster agency

Nexus between Government Assistance and Savings: Preliminary Analysis of Households in Malaysia

This preliminary study investigates the relationship between government assistance and household savings. The study aimed to shed light on whether government assistance programs directly influence households' savings habits. Data were collected from 25 representative sample households, including their income, expenses, savings, and participation in government assistance programs. The study examined how much money households could save regularly. The study suggested a significant correlation, between government assistance and household savings. Families that received some form of government support demonstrated a lower propensity to save than those who did not receive assistance. This trend was consistent across different income brackets and demographic groups. The researchers proposed several potential reasons for this relationship. There can be several reasons for this negative relationship. First, increased government assistance may alleviate financial strain and provide immediate relief for individuals or households, reducing the urgency or perceived need to save for future expenses or emergencies. Second, some government assistance programs may have income limits or asset tests that discourage or restrict saving behavior. It is important to note that this study was preliminary, and further research is necessary to establish a more robust understanding of the relationship between government assistance and household savings. Future studies could delve into the long-term effects of government support on savings behavior and investigate the specific mechanisms through which assistance programs influence savings habits. The preliminary findings suggest a negative association between government assistance and household savings. It emphasizes the importance of further exploring this relationship to understand household financial well-being comprehensively

Savings Of Low Income Households In Northern States Of Malaysia

Savings is measured as income less expenditure. Households save when there is an excess income to expenditure, and dissave when income decreases or expenditure increases due to unexpected events. This volatile atmosphere leads us to question as to how low-income households save. Studies show that low-income households do save using informal savings mechanisms. The first objective of this study is to assess the amount of household savings with different savings measurements in Malaysia. The second objective is to analyse the determinants of household savings in Malaysia. The third objective is to assess the savings mechanism used by the low income households in the Northern States of Malaysia. The last objective of this study is to assess the impact of risks and other factors towards the savings of low income households in the northern states of Malaysia. In Malaysia, there have been studies on savings behaviour. The recent study used the Households Expenditure Survey (HES) data for the year 2004. To extend the studies of households savings in Malaysia, a new study were done to explore the savings behaviour of households in the Northern States of Malaysia using the HES data for the year 2014, and Research University Team (RUT) survey data for the year 2016. HES data is used to study the savings behaviour of different household groups while the RUT survey data focuses on lowincome households. Both data focus on the Northern States of Malaysia. The study found that the factors affecting the savings behaviour of households in the Northern States of Malaysia are age, gender, educational attainment, employment status, strata and household size. For the case study on low-income households, the study found that low-income households do sav

Financial Preparedness of households: A Review

Since COVID-19 will hit the world in early 2020, households have been hit with unanticipated risks that lower their income, cause them to lose their jobs, or cause them to lose family members. This situation got worse when the Movement Control Order (MCO), which is slowing down the economy, was kept in place for longer. Businesses aren't running as usual, people are afraid to be in crowded places, and the virus's sudden change makes things worse. Malaysia was recently hit by a flash flood in December 2021. Selangor is an important part of Malaysia's economy, so the flash floods there have affected many economic activities. This flash flood was also written down as one of the worst flash floods ever, and it forced about 4,000 people to leave their homes. But most households in Malaysia aren't financially ready, so they depend a lot on government help. Financial preparedness is one of the important expect in having financial stability, especially during the occurrences of unexpected risk. The study on financial preparedness usually involving old age and retirement process. However, new study on financial preparedness based on health and unexpected event had emerged. This study review on the financial preparedness of households. SCOPUS database were used on identify the journals used for this study. This study identifies the types of financial preparedness and the factors contributing to the financial preparedness of households. Research paper Keywords: Financial Preparedness, Households, Covid-19 Reference to this paper should be made as follows: Azhar, N. A. Z. M., & Shakil, N. S. M. (2022). Financial Preparedness of households: A Review. Journal of Entrepreneurship, Business and Economics, 10(2S2), 154–164

Financial Preparedness of households: A Review

Since COVID-19 will hit the world in early 2020, households have been hit with unanticipated risks that lower their income, cause them to lose their jobs, or cause them to lose family members. This situation got worse when the Movement Control Order (MCO), which is slowing down the economy, was kept in place for longer. Businesses aren't running as usual, people are afraid to be in crowded places, and the virus's sudden change makes things worse. Malaysia was recently hit by a flash flood in December 2021. Selangor is an important part of Malaysia's economy, so the flash floods there have affected many economic activities. This flash flood was also written down as one of the worst flash floods ever, and it forced about 4,000 people to leave their homes. But most households in Malaysia aren't financially ready, so they depend a lot on government help. Financial preparedness is one of the important expect in having financial stability, especially during the occurrences of unexpected risk. The study on financial preparedness usually involving old age and retirement process. However, new study on financial preparedness based on health and unexpected event had emerged. This study review on the financial preparedness of households. SCOPUS database were used on identify the journals used for this study. This study identifies the types of financial preparedness and the factors contributing to the financial preparedness of households. Research paper Keywords: Financial Preparedness, Households, Covid-19 Reference to this paper should be made as follows: Azhar, N. A. Z. M., & Shakil, N. S. M. (2022). Financial Preparedness of households: A Review. Journal of Entrepreneurship, Business and Economics, 10(2S2), 154–164