40 minutes gua?

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Added on August 13, 2010, 7:09 am

I don't think that is a fair comparison. When u earn in SG you spend in SG. Rental is expensive, cost of living is rising. When people say that dollar to dollar  food in SG is cheaper than M'sia you must understand the key word here is "cheaper". If you are earning SGD 2,000.00 you have to live a spartan life here. If you earn RM 6,000 in M'sia, you can liver pretty comfortably even though the exchange rate will ultimately make the person earning SGD 2000 more than the person earning RM 6,000.00

conversion rate is SGD 1 = MYR 2.3x only not 3 leh how come SGD2k become RM6k?

In msia,
- stay with parents no need pay rent = 0
.......

i do agree with toda, there is no point converting SGD to RM when u gonna stay and live in singapore.

I think a long term plan would be to invest prty back in Msia; buy a nice house ... then can retire comfortably with the retirement fund converted from SGD plus work till 62yrs old. 

For me, the whole point of working in Singapore is to retire earlier than I could have if I stayed in Malaysia, not work even longer. Oh... and also to buy stuff I could never afford if I stayed in Malaysia.

But how early can you retire compare than u work in Msia?

This is also based on the assumption that RM remains RM2.30 = S$1.00, what if RM continue to strengthen against SGD in the years to come?

RM is the best performing currency so far in Asia this year.

haha.. just to add some heat into the debate..
if i'm not wrong singapore has the strongest performing economy almost all the time .
18% GDP ??

But how early can you retire compare than u work in Msia?

This is also based on the assumption that RM remains RM2.30 = S$1.00, what if RM continue to strengthen against SGD in the years to come?

RM is the best performing currency so far in Asia this year.

When I did my sums 6 years ago before I came to Sg... I will have saved the same amount of money (in a common currency) by the time I'm 43 in Sg, as I would have at 55 in Mys. But that calculation was based on a flat salary to make the calculation easier. But the fact is that my company has a much larger office in Singapore. I have gotten 3 promotions since I arrived here, whereas in KL, I had already hit the ceiling.

For you guys, it should be even earlier as most of you are practically starting your careers here. Whereas I had already "wasted" quite a few years in KL and Ipoh.

If I could re-do my career all over again, I would work overseas immediately after graduation and after 15-20 years, retire back to Ipoh to a simple stress free job making coffee at Starbucks or something, earning just enough to pay for the road tax, petrol and insurance for my Evo X or Skyline GTR which I would have already paid in cash for.

But many Malaysians would still prefer to stay in Singapore after accumulating enough savings throughout their career as their spouse might me Singaporean or their children would like to receive education in Singapore.

best thing is tax we paid is not used to build mosque

best thing is tax we paid is not used to build mosque

IMF asks Malaysia to take 'decisive' action
Posted: 14 August 2010 1205 hrs Channel News Asia

WASHINGTON : The IMF asked Malaysia Friday to take "decisive" action on reforms under a model program aimed at revamping a controversial four-decade-old affirmative action policy.

Malaysian Prime Minister Najib Razak announced in March a "New Economic Model" or NEM, aimed at reforming elements of the policy favouring the country's majority ethnic Malays in a bid to boost economic competitiveness.

Details of the reform program, including its timing, have not been announced yet.

The Washington-based International Monetary Fund said Friday it was looking forward to the NEM's rollout.

In a report after annual consultations between the IMF executive board and the Malaysian government, the fund acknowledged the "ambitious vision" of Najib's administration for a far-reaching economic transformation over the longer term.

The board directors "agreed that the comprehensive structural reform agenda, at the heart of the New Economic Model, holds out promise of faster and inclusive growth," the report said.

"Directors looked forward to a decisive effort and sustained momentum in implementing this agenda," it said.

They also called for an "effective communication strategy" to forge "broad public support" for these efforts.

"Further gradual liberalization of product and labor markets will help exploit policy complementarities, encourage private investment and harness the benefits of reform," the report said.

Najib, who came to office last year, said the New Economic Model was designed to boost growth, create a high-quality workforce, and attract badly needed foreign investment.

The model also aims to stem Malaysia's "brain drain" with measures to retain skilled professionals, and make markets more competitive by phasing out price controls and subsidies.

The affirmative action policy which hands Malays privileges in housing, education and business has been criticised as uncompetitive and improperly benefiting the elites.

Under the planned changes to the policy, the government will seek to raise the income levels of all disadvantaged groups, rather than focusing solely on ethnic Malays, the dominant ethnic group in the Southeast Asian nation.

Najib's reforms face opposition from conservative Malay rights groups.