to avoid confusion, can u explain a bit more what i said wasn't quite correct?

i think housing loan IS incl in the rm1 mil calc.

pls, do explain, i'm no expert either!

There is also a possibility that RM might record the largest single day gain in years. All it takes is some panic covering......

Thanks for the link. Helps a lot with this clarification

RM1m per calendar year (Jan-Dec) if have borrowings.

In practice, the bank form states 1 house loan and 1 car loan is still ok. Credit card unpaid amount is not included

Don't know the 1 house loan and 1 car loan leeway will be uplifted or not now...

BNM don't calculate like that. It's any amount and any number of loan. As long as you have a loan be it only a RM10k car loan it is still consider as a loan.

They refer to Ccris as the records. If it shows you have loan, means your limit is RM1m

But in practice BNM give chansi as per my reply to Hansel above...

Yes you are correct with exception only 1 (not 2) each of house loan and car loan. CC debt not counted. Bank's declaration forms to BNM did state clearly.

But after 5th don't know the 1 house and car loan as well as CC debt will be abolish or not...

No need to wait for weeks as u may b able to catch some 'dead chicken' on Mon

some will be very happy with the situation

Yes. After 8.30 am on Monday, right ??? I'll be waiting !

Thanks to AVFAN, Showtime, Sheshoumaru and all who have responded to my earlier question. But if, as said by Showtime, BNM will give 'chans' lar to individuals,... in which I would agree,.. then no need to try so hard to understand anymore.

...would be better to spend the time preparing for transmitting out of funds when the time comes,...

Would be waiting too

There is no problem to TT money to overseas.
There is no problem of FDI to go in and out.

The restriction is localized with the restriction to borrow RM to invest overseas.
No borrow to invest, no restriction.

While if a company or individual able to secure a loan at overseas instead of RM (eg, buy shares or property in SG, and borrow in Sgd with SG banks), then the company/individual still can invest abroad.

This move actually has its merit as well.

While for exporter to repatriate money back, I see it is a move to "deepen" and enhance the local hedging liquidity onshore in order to lessen the impact of offshore NDF which can be quite speculative and influenced by big money movement.

Onshore- at least BNM has an eye on it, and easily can identify the transaction is indeed business hedging or what is really needed for business and economy, and BNM can easily tweak or supply the market with liquidity.

Offshore - no control, big speculative money can simply bet to make a money out of it.

There is one recent news about RM and banks.
https://www.bloomberg.com/news/articles/201...-malaysia-rates

This post has been edited by cherroy: Dec 3 2016, 09:52 PM

Thanks for the correction. 1 each it is then.

AVFAN, so besides CC, 1 housing loan and 1 car loan....
-no other borrowings, free to invest
-any other borrowings, only 1k remaining = limit 1 mio
-any other borrowings even with 10 mio remaining = limit 1 mio

Quote:
'A Special Deposit Facility ("SDF") will b offered to exporter @ 3.25% pa pursuant to conversion of 75% new export proceeds into MYR'

M just thinking whether interest income from said SDF is exempted from tax under ITA 1967

Am still going to wait for weeks. Let u have the honor of picking up the "dead chicken". U should as a trader !

mcdonald's corp sold msia & spore rights due to myr weaken?

From Monday, >=75% of NEW export proceeds are required to be converted into MYR when it is brought back
I presume those FC here currently held by exporters will be exempted from the rule
At the moment, exporters are required to bring back their proceeds into Malaysia WITHIN 3 MONTHS OF COMPLETING a transaction.
Hence I presume the structuring of completion is key in terms of timing

This post has been edited by kopifan: Dec 4 2016, 11:23 AM

Since got good offer,
More like take profit from the investment..

I too am hoping that the above tactic will lift the MYR on Monday.

I think right now the jury is out on where is the direction next week

Well it's hard to say the movement next week..
Too much speculation