Beside kangkong, durian and palm oil, what other local products not partially imported? Over 50% of rice, fruits, vegetables, milk powder, fish, beef, wheat, sugar, salt, Chilli, spices, chicken feed, etc are imported. How imported products not effected by depreciated myr?

Ringgit will continue to plunge unless ‘someone’ not around, says Dr Mahathir
http://www.themalaysianinsider.com/malaysi...around-say-dr-m

Wat is the target by end of 3Q2015?

Agreed. Wait till roti canai costs RM10 a piece then Mr Gray would realize his comment is utterly foolish and plain ignorant!

Sigh.... die la.... want migrate not enough money.... want survive in Malaysia also half dead. If want buy foreign currency not enough to buy... friend applying PR in AU paid for it already, wait for 1 months still no news... habis

Ancient-XinG-,

You have money to invest in ASx but no money to buy foreign currency??

Dreamer

Everybody should really stop this name-calling, it's uncalled for. You disagree with me, argue with fact, don't simply say dummy, stupid whatever. In the past 12 months where ringgit has depreciated from 3.2 to 4.2, I don't feel it at all as a consumer. And I'm not a rich guy either, as a single man who has only worked for a few years, I eat out roadside stalls everyday, spending around rm20 per day.

Undeniably, a massive depreciation would have a big negative impact on companies who import a lot from outside. And some consumers who buy a lot of imported products. But for the average Malaysian? Very minimal.

I think gst has a bigger negative impact than the depreciation.

This post has been edited by Mr Gray: Aug 30 2015, 08:49 AM

Let's talk about Nasi Lemak the most popular local Malaysian food. I don't think Nasi Lemak is immune to the impact of ringgit depreciation. Some of its ingredients are imported. In the recent pasar Ramadan, the price of the Nasi Lemak kosong had increased to around RM3 to RM3.50.

Recipe: Nasi Lemak

Ingredients:

Coconut Milk Steamed Rice

2 cups of rice
3 screwpine leaves (tie them into a knot as shown above)
Salt to taste
1 small can of coconut milk (5.6 oz size)
Some water

Tamarind Juice

1 cup of water
Tamarind pulp (size of a small ping pong ball)

Sambal Ikan Bilis (Dried anchovies sambal)

1/2 red onion
1 cup ikan bilis (dried anchovies)
1 clove garlic
4 shallots
10 dried chillies
1 teaspoon of belacan (prawn paste)
1/4 teaspoon of salt
1 tablespoon of sugar

Other ingredients

2 hard boiled eggs (cut into half)
3 small fish (sardines or smelt fish)
1 small cucumber (cut into slices and then quartered)

This post has been edited by aeiou228: Aug 30 2015, 10:24 AM

Only a few thousand, if take out all buy foreign currency, then how I spend groceries in Tesco giant aeon big? Life in selangor not good. Petrol station dint accept usd also.... Sighhh
Who also wish to have usd in hand but having the ability to have it is another point lol

wah banyak mahal your Nasi Lemak pricing & it's at basar Ramadan summore

Agree. The next thing he will tell you to plant your own vege and start your own farm.

Bro I agree that it is uncalled for. And I also often disagree with unker dreamer's style of writing

But on this occasion, I really can't find another better adjective to described what you have said. Unker is just telling the truth

Ancient-XinG-,

Are you trying to be funny??

<< how I spend groceries in Tesco giant aeon big? Life in selangor not good. Petrol station dint accept usd >>

Those places do not accept ASx unit as payment. Only RM. If you do no take out the ASx units, you cannot pay them.

Let's be honest..

You put all your eggs into ONE basket.

<<Who also wish to have usd in hand but having the ability to have it is another point>>

Do you mean that you DO NOT KNOW how to take a few thousands RM and exchange them into USD at the money changer??

Dreamer

This post has been edited by dreamer101: Aug 30 2015, 08:26 PM

Dreamer, what good is holding usd in cash? It won't generate anymore usd. Isn't it better for someone to buy us shares or something or have something which can generate returns in usd?

Maybe you could make a tutorial on say opening a US FD with a US bank from malaysia instead of US FD offered by malaysian banks (that way your money is not stuck in malaysia). That will be more helpful to the average malaysian who does not want to try out shares. If you can do that, I am sure lots of people will be interested.

answer lies with development on this:


nasi lemak kosong can go to rm4 in no time.

only that some people still think rice, eggs, ikan bilis are all local, price won't increase.

they forget besides many food ingredients that are now partially imported, traders also need a a higher margin to keep going since they like everyone else also need more ringgit to pay for their increasing expenses on all items they consume.

Came across an article on food import bill
Apparently our food import bill is around RM25 bil pa
Since our MYR have depreciated around 20% (from 3.4965 on 31/12/2014 to 4.20 now), v could b paying xtra RM5 bil pa
Having said tat, not all imports r in USD
Nevertheless, RM1 bil (assume 20% in USD) pa is a hefty sum for all citizen in addition to 6% GST

Ramjade,

<< Isn't it better for someone to buy us shares or something or have something which can generate returns in usd?>>

https://forum.lowyat.net/index.php?showtopic=2843370

1) I did.

<<what good is holding usd in cash?>>

2) It diversify your saving. Protect you from RM depreciation.

<<That will be more helpful to the average malaysian>>

3) How to help people that do not understand a basic concept like

"Do not put all your eggs into ONE basket??"

How CLEAR and SIMPLE that I need to say this?? For NORMAL Malaysian, 20+% of their gross income is in EPF that invest in GLC and Malaysia Government Bond. If they put their savings into ASx, they are putting all their eggs into ONE basket since ASx invest in the SAME THING.

It makes sense for BUMI to invest in ASB due to political reason. But, for a non-bumi to invest in ASx??

Dreamer

If you have lost confidence in malaysian banks, ideally you should open a offshore bank account

But for small time investors, it may not be cost effective/too troublesome/offshore banks reject you. So for share investment in the meantime you can always use local share trading platform to invest in overseas shares. It is denominated in foreign currencies and thus takes care of the RM depreciation concern.

As for FD, there is such unit trust as fixed income fund in RM. Is there fixed income fund for USD or other forex ? Anyway, US FD interest rate is extremely low. Maybe you can research on the local unit trust for US govt bond fund ?

If you expect malaysia to bankrupt, why would investment in ASB makes sense ? The government has no money to pay back also

RM still strong today

US$ 4.172
GBP 6.437
EUR 4.697
AUD 2.981
SGD 2.951
CNY 0.656

good

but for how long