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 USD/MYR drop, v3

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CKKwan
post Jan 24 2016, 03:59 PM

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Joined: Dec 2004
QUOTE(icemanfx @ Jan 23 2016, 09:24 AM)
Since myr divorced from sgd, myr has been on down trend; as long as current gomen is in power, myr will continue on down trend. During short term, myr is on random walk.
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After 50+ years of mismanagement, even if the existing government is removed, it will take a very long time for us to recover.

Look at today, what else Malaysia has to earn forex other than O&G?

Our heavy industries vision is dead by now.

Our plantation (rubber, palm oil) are not competitive.

Our SME are all dead in favor of government policies. If you happened to see Malaysian company in overseas expo, you will see how pathetic we are.

Service industries can't compete with India / Singapore / HK.

Software industries (Cyberjaya) now is Cybargagal.

Banking industries can't compete with Singapore.

Tourism is not doing as well as Thailand / Singapore. People visit Malaysia just because they visit Thai / Sgp, or transit in KLIA2 because of cheaper flight.

Even our future hope (University grads) are all rubbish.

But how to keep foreign currency in Malaysia? I have 50K USD last month, but have to exchange 6K asap to get rid of all those old notes. The rest still kept in the bank with no interest.

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