SGD Strong, Ringgit Weak

syed putra · May 6, 2014

Runifyouhaveto said:
Hello bro,

Part 1: Property
I am not sure about buying 400K condo due to the min. 1m selling price for properties sold to foreigners. I believe 500K is still possible as i heard that the new 1m measure is only applicable for resale or new launches. please correct me if i am wrong.

Until last year foreign purchase of properties in Malaysia was so hot, developers were launching their properties overseas and selling at twice what locals can afford. So cooling measures were put in place to force developers to create more for locals. I believe RM1 mil is the minimum value a foreigner can buy properties. But This have cooled the iskandar region too much and soon, they may revert back to the old RM500k threshold.
It should be the responsibility of the state govenrment to build affordable housing. They have huge amount of unused state land. instead, they are selling these to developers at hefty prices and left locals in a lurch.

lifeafter41 · May 7, 2014

Runifyouhaveto said:
I am impressed with the general idea of your plan - lowest risk, hedged sgd appreciation with your property, highest return. Not so sure about mlm hahahaha

I know people in middle-aged who rent out their 5-room hdb, work in sg, but sleep in JB.

It would be a hassle for the family if this is the case as the whole family will have to move over to JB
It the uncle is is divorced, that is understandable.

For the case of single, I believe they can only buy max, 3 room flat right?

bakkuttay · May 7, 2014

syed putra said:
Until last year foreign purchase of properties in Malaysia was so hot, developers were launching their properties overseas and selling at twice what locals can afford. So cooling measures were put in place to force developers to create more for locals. I believe RM1 mil is the minimum value a foreigner can buy properties. But This have cooled the iskandar region too much and soon, they may revert back to the old RM500k threshold.
It should be the responsibility of the state govenrment to build affordable housing. They have huge amount of unused state land. instead, they are selling these to developers at hefty prices and left locals in a lurch.

iskandar condos mostly target foreigners,
the price can buy a few landed for locals.

Cerebral · May 7, 2014

syed putra said:
Nope. Its the malaysian government not able to reduce their debt. always spending above (deficit budget getting bigger) their means and subsidising many things unnecessarily, like diesel/petrol, the two biggest subsidies. If they cut off the subsidies, the gomen scared lose votes and power. So continue until maybe too much too bear.

they are trying to solve it with 6%GST

bakkuttay · May 7, 2014

Cerebral said:
they are trying to solve it with 6%GST

in sg, gst is to help poor.
let's laff together now, hahahhahahahaaaa!!!!!!!!!!!!!!!!!!!!!!!!!!

lifeafter41 · May 7, 2014

Cerebral said:
they are trying to solve it with 6%GST

The implementation of GST in Malaysia will definitely help on their deficit.
Will this be the turning point for the RM to strengthen vis a vis to Sing dollar?.

Understand its going to be implemented in 2015.
Will we see a trend of the RM strengthening in anticipation?.

Runifyouhaveto · May 7, 2014

syed putra said:
Until last year foreign purchase of properties in Malaysia was so hot, developers were launching their properties overseas and selling at twice what locals can afford. So cooling measures were put in place to force developers to create more for locals. I believe RM1 mil is the minimum value a foreigner can buy properties. But This have cooled the iskandar region too much and soon, they may revert back to the old RM500k threshold.
It should be the responsibility of the state govenrment to build affordable housing. They have huge amount of unused state land. instead, they are selling these to developers at hefty prices and left locals in a lurch.

very interesting views. Yes, 500K is a better entry level.

Runifyouhaveto · May 7, 2014

For large amount, western union remittance desk is offering 0.02 to 0.025 sen spread + a tiny bit of t/t charges. You need to have a bank account in malaysia for them to t/t to you (account name must be same as you, to be legal).

Eg. Currently MYR spot is 2.60, you can get buy at appx 2.575-2.58 from them.

Runifyouhaveto · May 8, 2014

http://www.theborneopost.com/2014/05/03/mixed-reaction-to-malaysias-debt-levels

- Household debt levels hit 86.8 per cent of GDP at the end of December 2013, one of the highest in Asia
- Standard & Poor’s cut its credit outlook for four Malaysian lenders in November 2013, next review soon
- 60 people, aged between 35 and 44, were being declared bankrupt each day

GG789 · May 13, 2015

http://www.xe.com/currencycharts/?from=SGD&to=MYR&view=1Y

dunno can reach 1: 2.8 not.

Runifyouhaveto · May 13, 2015

GG789 said:
http://www.xe.com/currencycharts/?from=SGD&to=MYR&view=1Y

dunno can reach 1: 2.8 not.

If Najib is around, then not a problem
but must wait a while

KuanTi01 · May 14, 2015

bakkuttay said:
in sg, gst is to help poor.
let's laff together now, hahahhahahahaaaa!!!!!!!!!!!!!!!!!!!!!!!!!!

Hee heee hee! I second that. GST is to help the poor gets poorer since the rich doesn't feel any pinch.

xpo2015 · May 14, 2015

Malaysia is a slacker nation!

Runifyouhaveto · May 15, 2015

KuanTi01 said:
Hee heee hee! I second that. GST is to help the poor gets poorer since the rich doesn't feel any pinch.

GST is an important tax for Malaysia or they will run into cashflow problem.

For eg. a neighbourhood shop has a $1 million turnover and net profits is $30,000
The income tax contribution from the establishment for the $1million turnover is less than $10K.
But with GST, the Malaysian government can just take $60K from the $1million turnover, even if the neighbourhood shop is not profitable.

Runifyouhaveto · May 15, 2015

Moody’s casts cloud over Malaysia’s credit outlook amid warning of 1MDB loan default
http://www.todayonline.com/business...credit-outlook-amid-warning-1mdb-loan-default

1MDB bonds in Singapore are trading at about 10% discount to par
Could be worse, if not for their Malaysian govt backings

lifeafter41 · May 15, 2015

Runifyouhaveto said:
Moody’s casts cloud over Malaysia’s credit outlook amid warning of 1MDB loan default
http://www.todayonline.com/business...credit-outlook-amid-warning-1mdb-loan-default

1MDB bonds in Singapore are trading at about 10% discount to par
Could be worse, if not for their Malaysian govt backings

Dear run, so we will see S$1 to RM3 soon.
Now everybody......Huat Ahhhh......

Runifyouhaveto · May 15, 2015

lifeafter41 said:
Dear run, so we will see S$1 to RM3 soon.
Now everybody......Huat Ahhhh......

Ya, i buy my branded medications from renowned pharmacies in Malaysia, cheaper than govt hospital.

yinyang · May 15, 2015

Runifyouhaveto said:
...buy my branded medications from renowned pharmacies in Malaysia, cheaper than govt hospital.

You don't say. Really meant your Viagra? More bang for your buck? :p :biggrin:

johnny333 · May 15, 2015

Why is everyone talking about buying properties in Malaysia but no one is considering renting :confused:

GG789 · May 15, 2015

johnny333 said:
Why is everyone talking about buying properties in Malaysia but no one is considering renting

do u know malaysia housing interest rate is about 4-5%

and the rental yield is not high and high risk of the tenants not paying their rental on times.

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