Oh my bad. I am so stupid and definitely a baddie.
Think I better keep quiet and don't throw stones.
Should have stick to Property Discussions or Exchange Rates for RM.
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Exchange Rates for RM
- Thread starter crystal_tiong
- Start date
Oh my bad. I am so stupid and definitely a baddie.
Think I better keep quiet and don't throw stones.
Should have stick to Property Discussions or Exchange Rates for RM.
Glad to know that. By the way, about the issue of Mahathir/PROTON and COE, I had learned it first from a Malaysian Chinese.Oh my bad. I am so stupid and definitely a baddie.
That's why I don't blame non-business people who got no idea about the statistics and numbers. RM 200k a month to buy up stocks in Malaysia to resell is for small time less than 5 staff companies like us. RM 2 million or even RM 20 million are quite the norm too but its not for small fishes like us.
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Don't mind me asking as it sounds interesting and useful. Who do you resell the stocks to? Singapore?
Nowadays, making money is about buying cheaper and then selling it at a much higher price. These days I don't like to buy things from retail shops if possible after knowing how much the prices have been marked up!
It is absolutely alright to be patriotic about one's country but to talk down on others is not nice at all.
Agree with you, especially when you mention:
Singaporean pay Government first then pay again to own a car. Who is smarter and who is stupid ah?
Aren't you contradicting yourself in the above instance?
I always ready to admit I am wrong and bad. For me, pride can be thrown down the drain. I know what I am, that is good enough already.
Meanwhile I hope others to reflect too.
And Singaporeans are so happy that Singapore Government is so smart making so much money from COE.
Salute salute.
And Malaysians are so sad that they have to work in factories making cars.
Sweat sweat.
Malaysians pay Proton to own a car.
Singaporean pay Government first then pay again to own a car. Who is smarter and who is stupid ah?
Actually there is an equally amount of stupid (in your own words) Malaysians, many in the form of SPRs in SG paying exorbitant amount of money for the COE to the SG govt. to own and drive a car in SG.
And there is another huge group of Malaysians (maybe also stupid in your definition) driving into SG in their MY cars, again paying an exorbitant amount of money for their daily or monthly VEP to drive into SG.
SG should be very thankful to these people for their kind contributions.
And incidentally, Proton is up for sale as they cannot afford to continue to subsidize anymore.
Wonder how many thousands will be retrenched just like MAS.
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Told you already Singaporeans are very smart. It is confirmed, chop and stamped, double confirmed SMART. Still haven't get it?
Malaysian SPRs are very very STUPID. So bloody dumb that they managed earn S$, buy Singapore cars, drive up the COE prices then buy JB houses and forgot to buy Singapore properties. But many stupid ones buy HDBs also. Singaporeans so happy to sell to them at inflated prices. They also so stupid to pay VEP everyday and earn S$ then take back the money to MY. Somemore, it is the SG who sponsored them for their studies free of charge. If got such offer given to me, I would be very stupid not to take it.
You want more stupid stories? Try asking all the FTs and they will tell you who is really stupid.
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Tekkun, you still don't practice what you preach: "but to talk down on others is not nice at all". You are indeed a recalcitrant.
Anyone who make stupid remarks will get stupid response from stupid stubborn people like me. If you like to add old bloody stubborn, it is fine. I say again, this is a property forum, not political. This thread is all about Exchange rates for RM. It is as stupid as that.
Tekkun, tried using the emoji to express agreement and the thumbs up, but doesn't work. I am in agreement with you. Well said Bro.
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Ok, ok. So, today's rate is S$1=RM3.037. I think the fair rate should be S$1=RM2.40 or thereabout. If the Ringgit is too low, it's not good for the country also. Can you do something on this?
From selfish reasons, which I hope S$ grow as strong as ever.
However from pure business point of view, I really do not mind if RM go low. We have seen RM that went 4.80 to USD or 6.80 vs GBP before. Short term a low RM is going to hurt the pockets but an exporting economy like Malaysia is benefiting from increased FDIs. People will not get very rich but they will have jobs to do and that keep them moving. Today, you do not hear people walking on the streets that they do not have jobs, unlike 1997. Yes there are retrenchments especially in those E & E sectors, but they do get reemployed quickly.
Manufacturing do not get hit easily by forex fluctuations. Maybe they are low costs and expectations are lower. Let me share my experience just 2 days ago. I paid a bill in USD and the exchange rate was RM 4.195 vs USD. My original cost was based on RM 3.60. Bloody awful and if you are treading on thin ice. As an importer, it is definitely not good news.
But as in all manufacturing, materials consist of as rule of thumb is 50 to 60% of the cost, the rest is process costs, overheads and profits. So the damage is lesser than actually seen. However, when you export, you sell in USD and your base price is based on RM3.60 then. So it is not all that bad. In fact if you are an exporter, it is very profitable.
RM went down due to lack of demand, confidence, lack of revenue while S$ held steady, I guess due to MAS intervention. Bank Negara do not want to intervene, it allow it to flow naturally. So is it a fair value or not, good or bad, it all has to do with dynamics of the world economy versus home ground situation. Every country is different, inflation, attractions, competitive strategies, etc.
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Actually teres 3 typical sinkies here who keep bashing Msia too. Keep calling ppl who invest in JB are stupid. Buddha may smile. But under such circumstances i am sure HE will frown.
So cant blame Tekkun for losing his cool..Yes of course we resell to Singapore. Anything that is manufactured in Malaysia can be resold to Singapore for a profit.
From the above, it clearly shows your patriotism towards your fellowman is questionable. Yes, from a manufacturer's point of view, you stand to benefit and gain from a low Ringgit. However, has it ever come across to you that the general Rakyat will suffer from an overly and excessively depressed home currency? Inflation will creep exorbitantly into their daily needs but wages aren't following correspondingly. Do spare a thought for these deprived people.
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I only do things that I am answerable to. I do not think my fellow countrymen are suffering. In fact, I am proud to say my factory employ 90% local Malay workers. And these workers had been with me, some for 15 years already. I am damn proud to say my local boys produced goods that fully meet international standards, evaluated by foreign technical centers and incorporated in equipment made in their own countries. I have done my share of work at National level serving in TC and working groups in my days. So who are you to comment on my patriotism? Just because I hope S$ should be strong?
Malaysia started at par with Singapore in its currency some 50 years ago. Today is 1:3. Singapore progressed very well. Malaysia fell back in its currency. But who say they are deprived and what bench mark are you measuring against? Based on what model are you saying that. We are happy as what we are. Go to any travel fairs, you see many people can afford to fly. Go to Kl and you see as many sky scrapers. Go to UK or any universities, we have as many students, in fact more than many countries. 50 years today, we are still around. We still did not die of hunger. Do you really think a depressed currency is will make the country suffer? if that is the case, why are you in this property forum? Sorry, maybe you have no properties or investments in Malaysia. Understood.
Why must RM be stronger? So that it drive away investors? Or make MY more expensive to do business in? As I said, Malaysians are very stupid people. We do not know how to make RM strong. Maybe you can teach us how.
RM may be low. So is my nasi lemak. We do not need to eat in big restaurants everyday. Just mixed rice will do. We earn low, our expenses is low. Does that make my people suffer? Being rich and wear designer clothes does not make a person better. Being simple is. Inflation will hit those who import, it will not hit those who buy local. I just mentioned in another post, my relative rent a 2 room apartment for RM107/month. Is he suffering from inflation?
So please do not judge us by your standards. We are happy by our own. Like I always say, this is Malaysia and we have our way of living. You like, you join and we welcome you. You think we are not at your level, please do not join us. Singapore is much better and I totally agree. It is just that I like Malaysia more.
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Thank you for the lengthy elaboration..... yawn..... If you think you are correct, then by all means, but I would appreciate if you can provide the statistics to substantiate. Otherwise, it's just your own version deem fit for you only. But sometimes, I find your counter-argument not very intelligent, not just in this thread though.
The Malaysian ministers’ guide to coping with rising costs
Of course, there are several other instances, but since this is irrelevant to this thread, so, we'll just skip them altogether. Congrats to you for contributing and helping so much towards your fellow countrymen. 1 thing I always believe: Successful businessmen are never honest and honest businessmen are seldom successful.
By the way, I personally had experienced a general across-the-board increase of between 20% and 30% in those perishables in the wet markets since the last 6 months.
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