Your budget allows you to a whole range of choices BUT what is your purpose?    Where are you riding it, will you join a group eventually, how often will you ride, your storage space, how you want to carry your bike etc,etc. You need to set a guideline before anyone can actually advise. Off coursr I can say, get the Brompton which is incidently within your budget, but will it serve your purpose?

If you want to try out first, then get a Dahon or Tern first and see if you are still gamed in riding after riding for a while or maybe join a group for their weekly rides. Only then, you can pinpoint what you actually want  and also by then, I don't think you need advise from here. You can already form an opinion of your own. 

  OK that narrowed down to fast folding bikes and that's velos, folding velos.  If I have the budget like yours in one go, I will go for the Pacific IF Reach. But that's just me. Other than that will be the Dahon Dash. Also you need to consider what kind of bar, drop bar, bullhorn or straight bar?

For straight bar, you need the straight bar shifter and for drop bar you need brifters or TT shifters. So, it is prudent to actually decide first instead of modifying again later. And since touring is in your mind, probably the straight bar or the butterfly bar is more ideal. I would say if you want to do touring, it is better to get a chromoly frame as they absorb bumps better and also rides more comfortably. Aluminium is too rigid and very bumpy for long rides. Also for touring , it is better to get 406 (20 inch) wheelset as tire choices are more where else 451 (22 inch) is only limited to slick tires. Schwalbe produces good touring tires, notably the Marathon series.

One of the most versatile and proven foldie for touring is the Dahon Speed. Shown here is a unit used extensively all over Malaysia and even from Raub to Cameron Highlands via the Sg. Koyan route. This unit is fitted with a Rohloff 14 speed internal gear hub for easy maintenance and also the butterfly bar. Frame is also chromoly.



Shown here is also the same bike with another two Dahon Speeds which we rode from Kampar to Sitiawan and back.

Lovely orange & red Kinetix Pro X wheels. 

Is that available locally? I think only available online.

I believe only available in 20". Would be perfect if they had 24".