Accidents in Malaysia

There were two recent cases of accidents in Malaysia that should cause concern to visitors. A bus travelling down from Cameron Highlands went into a ravine killing many tourists. A boat capsized after a trip from a kelong in Sibu Island and 4 Singaporeans drowned.

I want to quote these two incidents about the harm caused by the free market, without adequate regulation. The tour operators had to compete fiercely for business by reducing their prices. They pay low wages to workers who have to work long hours to earn enough to make a living. There is inadequate regulation on working hours, minimum wage and safety standards. The consumers are not able to know about the poor safety standards, until they are in the bus or the boat, and then it is too late.

I am in favor of a regulated market, where there is regulation on fair practices and safety standards. The regulation will apply to all business entities. This may cause the price to be higher, e.g. due to minimum wage levels, but it is better for consumers in the long run. We see this type of regulated practices in the advanced countries of Europe, America and Australia. The standards should apply to Singapore, Malaysia and other Asian countries. I am impressed that China is giving attention to this type of issues, rather than just leave matter to the market to sort out.

Tan Kin Lian