A Barisan Nasional backbencher has defended the depreciation of the ringgit, saying it benefitted rural folk.

Rompin MP Datuk Hasan Arifin said rural residents depended on commodity prices, which has seen a drop in value.

“Alhamdulillah, due to the depreciation of the ringgit against the US dollars this has benefitted rural people very much.

“The ringgit should be left alone, let it perform based on market and current economic conditions,” he told Rafizi Ramli (PKR - Pandan) during the debate on Budget 2016.

Hasan, who is also the newly minted Public Accounts Committee chairman, did not elaborate further.

Commodity prices such as palm oil has bounced from a low of RM1,867 a tonne on August 26 to RM2,293 a tonne today at 2.06pm on the Bursa Malaysia Derivatives exchange, possibly due to lower production from Indonesia as a result of the El-Nino effect.

Besides Indonesia, Malaysia is one of the world's biggest producers of palm oil.

Hasan's statement comes at a time when Malaysians are grappling with economic uncertainty and a high cost of living.

Despite assurances from Putrajaya that Malaysia's fundamentals are strong, concerns have been mounting over the economy as the ringgit, Asia's worst performing currency in the past year, slid beyond the RM4 mark against the US dollar.

Various factors have been attributed to this, one of them is the scandal linked to Prime Minister Datuk Seri Najib Razak and the RM2.6 billion “donation” from an unknown Middle Easterner to his personal accounts. – October 27, 2015.
- See more at: http://www.themalaysianinsider.com/malaysi...h.IBgIlDsf.dpuf

This post has been edited by cranx: Oct 27 2015, 04:08 PM

woohoo.. kebodohan terserlah.. beribuan terima kasih dUMNO minister.. skrg u boleh gi 14 floor

denial

JOM PINDAH KE KAMPUNG!

Umngok dan Bodoh berpisah tiada.

beribu ribu cukur

jilat sudah
nanti akan dapat share dari 8.2B lettew

malu-nya... go holiday cannot say from malaysia liao... kena laugh like mad only

The rise in palm oil price is caused by the drop in its global supply... not because of devaluation of ringgit.
Hrmm... maybe this guy's CGPA is 3.85 too.

LOOOOOOOOOOOOOOL

kejap cakap bounce back
kejap cakap drop bagus
WADDAFAK WEI

would you trust words spewing from a backbencher ?

like fart it smells only for a few seconds then disappears

Who cares about palm oil. We have too many supply but no one's buying.

yes... devalued money give the people higher figure in numbers... but lower value in money...

why i need RM1000 to buy 20 bags of rice when before this RM500 can but 100bags?

kasi tolak gaji minister ini, bagi dia rasa devalued money

Stupidity at the next level.

wait till the gov remove all the subsidies.

which they are doing now

Toyoi and his copy paste links at it again.
Untung TS suddenly his one year old thread come back alive again.

apa ketum u take? so powderful

Just the other day I was at a rural area.

The jalan there like tahi full of pot holes. Depreciation of ringgit means high cost for infrastructure. So rural folks also suffer. Don't forget GST.

Org gila shj tak tahu kebaikan Ringgit yg menurun...

whole paragraph no logic one. reading this kind of reasoning gonna give me cancer.

so rural folks pay 90% of country tax ??? so rural folks > city ppl ????

so benefit rural folks = country prosper ???

sohai BN

yep continue to do nothing ya

dia ckp ringgit drop bagus

nanti dia cakap pasal indo production low

so indo production low kasi harga naik ialah jasa ringgit yang menurun?

apa sebenarnya dia nak cakap? rural pun makan nasi, nasi mahal sayur mahal minyak mahal ayam mahal etc how to benefit?

simpan sikit bodoh tu, pakcik.

Indo production low is explanation given by TMI, not that datuk.
Palm oil price is quoted is MYR, so ringgit drop has no effect on it.

lol post tahun 2015 ni.

This post has been edited by mousqy: Dec 21 2016, 03:40 PM

Haiz, I'm Chinese,

Cannot say from Malaysia

Will not say from china

Die also won't say Singapore

Don't know what nationality to tipu if foreign ppl ask!

“Alhamdulillah, due to the depreciation of the ringgit against the US dollars this has benefitted rural people very much."
“Alhamdulillah, due to the depreciation of the ringgit against the US dollars this has benefitted rural people very much."
“Alhamdulillah, due to the depreciation of the ringgit against the US dollars this has benefitted rural people very much."

OMG! It means other country with better currency against US dollar like Singapore is in DEEP SHIT Right NOW!
Alhamdulilah!!

Zimbabwe and Venezuela rural folks are very rich now.
All jutawan.

My CGPA too low, I cant understand his logic.

RM depreciates....
Export increases according to ministers...

Rural folks work as kuli and sell to middle man....
Basically rural folks have no bargaining power and rely on middleman to sell....
I know, middlemen makan kau kau the raw products....

Boss kilang export dapat bahan mentah murah from rural folks....
Kilang export to oversea increases due to RM low....

Boss kilang buy BMW....
Rural folks and factory workers get few RM to isi minyak kapcai....

Harga TV naik... xde duit nk beli baru... Guna TV lama....

How it benefit?

Macam lar boss kilang akan share profit dgn kuli...

cooking oil 1kg still same price cheap already.

luckily bonus in usd. so yeah... let it fall rock bottom before january 2017 pls!

This post has been edited by otakotak: Dec 22 2016, 01:47 AM

LOL Malaysia is such a laughing stock. Your political leaders talk like 8 year olds.

Overwhelming syukur when reach RM5 to USD1

Who the cb necro this thread

Just say you are kimochi la. If your mata very sepet then say are kimchi.

Kebodohan tahap maximal

Ya soon, corruption too benefits the population, nuclear waste good for health and dumb ppl all becoming billionaires.

My conspiracy theory is, purposely let it fall so when sending back songlap money from overseas to prepare for the general election get more ringggits

rm2 shop many items sold out
and the shop is not restocking many of them
because cost went up
and many restocked item are at least 20-60% smaller portion
similar to cheap items sold in indonesia and phillipines

Its true, rural area regardless of races. If you are farmer, your income correlates well with palm oil prices. CPO prices were below RM2,200 last year. Coming to year end the price is at RM3,000. That is 36% jump in revenue. Rural folk would definitely benefit. People have more cash to eat out at Mamak, warung and restaurants or they purchase more household items. The increase of money circulation will help the rural economy.