1 more default, and all the 3 main rating agencies will downgrade malaysia ratings and start the avalanche

From April 1 until today, the GST claims by the businesses are still not refunded. Very hard for the people to believe all is well with the administration

I hope I am wrong though...

Bro, he is being sarcastic lah

So heed unker dreamer's advice and redeem all your ASx today. You will thank me when what you said above come true

Customs even send sms to phones "pre-emting" refund is in progress....trying to calm people down by telling the business "hey your money will be refunded, don't worry..."

The feeling is just not right....

Wow, you mean our debt is actually mainly in USD ? BNM has been lying to us ?

Ya talking about risk, the foreigners are escaping to mitigate their risk. Likewise, the risk for ASx and even EPF has corresponding increased. It is totally up to the individual holding the ASx and EPF to reassess their risk profile. Obviously there are many people thinking the 6.x% in ASx will still worth the risk

Have always been posting in SG Reits thread

There are a lot of good guys here willing to share. I learn a lot from others too

Crude oil price roughly unchanged. With that piece of good news on our forex reserve, market should turn positive.

Maybe the market already has bad impression engraved. Thanks to our great leaders with great credibilities, all news from malaysia agencies may not be credible to the market anymore.

If same situation were from Australia or Canada, their currencies would have soared

The latest check a while ago, MYR has depreciated against SGD, GBP or even CAD which just announced fell into recession

Roughly flat against AUD and NZD.

MYR problem is beyond economic fundamental, as discussed in the way earlier pages.

Can only show RM these

With the international civil movement's recent meeting in Malaysia, we got the maximum worldwide exposure on our plight in politics. Our economic fundamental is no more the sole determinant of our fair currency value. Market will keep on dumping the RM despite good news on our indicators

As any quick resignation and political remedy not in sight, 4.50 will be fast approaching, and breaking of records of above 4.7x is just a matter of time

Inflation will be out of control in the next 3-6 months. BNM might have no choice but to increase OPR as RM issue > risk of economic downturn issue. Politically they have take the risk to be seen as "we tried our best"

Stock market will crash on grey economic outlook. Economy turns south and into recession. Wide spread retrenchment may happen and unemployment rate increases. As people find financial difficulties, it will be followed by property market crash and further aggreviate the economy.

The bad economic outlook of the world at large is already a tough environment for any country to handle for the next 2-3 years, and Malaysia has such additional political issue to worry about. No politician will be interested to put their slight focus on saving the economy if he is in such shaky position. Just imagine if you are in the same position, you will be more concern not to land yourself in jail or thinking about which country to flee to when situation gets out of hand than worry about the rakyat's bank account

The outlook is the gloomiest since 1998. Feels like we are on the tallest roller coaster in the world, moving and reaching the peak and the plunge to the bottom will start anytime.

Everybody, hold on tight !

I don't think it is "wide spread" enough now to cause panic. But I think it will in the near future.

Looks like what you predicted will come true soon. Your haters will be and

Unker, my business still face problem employing people. Still have staff resigning for "greener pasture". Some posts are vacant for 1-2 months. It ranges from office people to factory workers. If SME like mine need to cut headcount, which is a real possibility judging from the bleak outlook, then it will be widespread

I can feel the effect to RM depreciation started to set in. 6 of my suppliers have increased price in the last 2-3 weeks. Export sale has not grown since 1st half of the year and I expect it to decline . Feedback from my sales people is very gloomy especially in China.

Most of my business associates (our associations) face the same problem. We are still surviving now, but don't know for how long.

Ya, tough environment ahead. Thinking of just surviving. Ups and downs is part and parcel of business. If a business can ride through the big waves, calmer seas is just not too far in front. We have encountered the really bad times before in 1998, so I think we are better prepared this time. Just have to manage the cashflow and forget about profit and loss. Not a time to get greedy and gungho

Gen Y has a very different thinking. Somehow they can afford to be choosy. They want MNC, they want O&G salary, they want accommodative bosses who don't scold. Learning at their stage of career is not their priority, but salary is. And they can resign first, then only look for new job.

Very different from my time. We value our job and try to learn as much as possible instead of looking for better pay. We work until mid-night without OT just to get the job done because that is our responsibility to our boss. We can take loads of shit from our boss. And complain and whine among our colleague behind our boss's back. Resign without a job in hand is unheard of. If you resign without a job, and go for an interview, the interviewer will treat you as a problematic staff

If recession comes, it may be good for Gen-Y to experience a really bad job market to teach them a lesson. Life has been too good to them.

---end of whining from a Gen X---

Seems that your inability to buy a property because of missing the boat has preoccupied your life so much that you have to bring up the issue even in a non property related thread

Yes.

Some banks may be more strict. If so, tell them you want to open for investment purpose like DCI

I think local banks minimum is RM50k for DCI

Most local banks minimum for DCI is RM50k, like PBB drake88 said. I think Shittybank also same.

I am not sure about the requirement for net assets though. Better ask the banks

Have you guys watch this yet ?