saw the FAQ. it's says Singaporeans

1% per month or total of 1% per year? Big difference. 1% per month = 12% year.

Care to give example? So when I have a Singapore account, can do that. Hehe...

I see,... that door is closed to us then, even though we have local accounts inside Sgp. Tq for the clarification...

Any advise on how to transfer large sums to Singapore account..say over the limit of 10,000usd.

Any advise on how to transfer large sums to Singapore account..say over the limit of 10,000usd.

Per year la.... per month i wont be in stock market d haha

I say its high because normal saving account in Singapore give .05% PA

This post has been edited by orangbulu: Sep 18 2015, 01:24 PM

Bro,... 12% only when the sky falls in Sgp,...

1) Transfer 5 times using Maybank2U online on five different days OR,.....tips >>>>>>>>> within the same day from 5 different accounts.

2) Transfer at one go using TT Form via a branch, fill-in Form P and provide whatever other documents they ask of you.

Try the second method and update us. It's more expensive and slower using the first method.

Edited : wrong calculation earlier.

This post has been edited by Hansel: Sep 18 2015, 01:32 PM

Would that trigger suspicion from Bank Negara? How about using money changers?

Ok la. Free money just take la. Care to show write down the steps on how is it done?

By the way, I know that we are not allowed to open a SA just like that in Singapore. We need to tell them we want to open a CDP account then only we can open one CDP and one saving account. But how to open 2 account (DBS) and SC when we only can have 1 CDP account?

According to Bank Negara, there is no capital control on funds for investment. Ie.

1. You can transfer whatever amount provided you have no loan in malaysia (1 housing loan is exempted)
2. If you have more than 1 loan, then your limit is RM1m per calender year

Having said that, the bank branches in malaysia usually do not check your TT against the above rule. Unless you transfer RM1m in 1 shot.

Some banks branches who do their jobs will ask. They will let you fill in a declaration form related to the above

I follow the law and I respect the courts. Maybank restricts one account from TT'ing out more than RM10K equivalent per day. Maybank does not restrict the number of direct accounts or related accounts that one has.

When was the last time you used money changers to do a TT ?

US$10k is small amount to BNM. Just sign the declaration form at the bank.

Which money changer still make TT transfer now ? Please PM me. Thanks man !

Great ! This answered a lot of questions.

Curious whether Maybank SG allows you to open an account without being a Singaporean resident.

I like REITs because of the liquidity and hassle-free nature of investing in property through REITs.

The only problem with SG REITs is if there is a rights issue, you can't subscribe to it because you cannot provide a Singapore address. Other than that, it beats the MY REITs by a mile. No withholding tax, large portfolio (economics of scale & diversification), international exposure and more variety.

I stick with just STI ETF so I can adopt a simple investment strategy, buy less when expensive, buy more when cheap & sell when I need the money. Don't want to spend too much time on this.

orangbulu mentioned investing in US stocks. I think that is good too because of bigger market. Why invest in BAT Malaysia with 2X P/E when you can have international exposure of Philip Morris International at 1X P/E? Again, you can own a stake in publicly-traded oil company, Exxon Mobil at 1X P/E compared to owning small fish companies like Sapurakencana.

Why PM you only ? I want to know also,....

Because they cannot do the TT liao. So must be discreet...

May I know what kind of information and supporting documents do they request?

But why resort to money changer, their rate is not much better than Maybank, sometimes worse.

It is too bad we don't have something like Currencyfair (Peer to peer currency exchange) for Malaysian Ringgit, only 0.5% commission to trade at mid-market rate.

For investment in stock market, no documents required. Just declare you are going to use the funds to invest in stock market later. If you buy property, then you can give them the S&P.

For education, payment of suppliers you need to provide the related documents like letter of acceptance and invoices