Well MV always the hot spot..
From money changer, shopping to watching movies

not really, just that it is usually flat-flat on holidays.

actually, at this time, there are things we don't know...

is BNM still intervening, $ sold or bought?
are the exporters complying?
are foreigners still selling mgs and bursa? (us 10 yr yield 2.493% today).

meanwhile, BNM is patting itself on the back...
http://www.thesundaily.my/news/2091779

that statistic, whether $100k or 1mil, must be something from some int'l survey.

it is usually in $ NET WORTH.

there must be many with 1 mil in ASX and 2 mil in loans.

no surprise if u look at levels of household debt.

moreover, 3% adult, say 3% of 10 mil = 300,000.

there are only 13,800 millionaires in KL urban in 2014.
http://www.themalaymailonline.com/malaysia...00-millionaires

This post has been edited by AVFAN: Dec 12 2016, 12:44 PM

Btw, the above article is flawed as one of the comment said

"What sort of reporting is this? London has 395,000 millionaires. New York, Tokyo, Paris and dozens of other cities have more than 13800 - even tiny Singapore. And what on earth does the comparison with Paraguay add to the discussion?"

Tq gents on the millionaire explanations,....

As for the rate movement,... I noticed some events lately, before Msia starts working and after Msia starts working,... If I convert before KL starts, the rate was better. Then,... the MYR weakened later on,.... but my observation was for a few days only, hence not a sufficiently big sample. Tks bro,....

Allianz Global Wealth Report 2016

This post has been edited by icemanfx: Dec 12 2016, 04:10 PM

Interested to know if you have similar figures for Singapore, Thailand and Indonesia.

U seems to have insider info on the identity of the unit holders who own > USD100k

xe.com indicates MYR appreciate slightly to 4.4120 today
Lets c whether tmrw onshore rate will follow the direction

Compliance is not by choice. Once the money comes into their account, the bank is mandated to convert 75% into myr. So, yes, the exporters are already complying.

There are many loopholes. You can set up a bank account in cayman island and bypass this rule.

In fact, Bank's HQ will auto convert (75%) once monies reach M'sia b4 credit the same into respective a/c

We are in transition from subsidies. that's what subsidies do to a country....beggaring.

Plus of course our management style is reactive. Spend first , worry later. Let the future gens take care of the father's sins

and though I fear you may be right but I am happy there's a few here who knows how to invest in their monies.

I know a lot of Ppl subscribe to YOLO concept, wat say u

Issue is, money saved from the transition are not spent somewhere most needed. No improvements on the economy either.

This post has been edited by TOMEI-R: Dec 13 2016, 09:23 AM

You know i am right!

Hyperinflation will follow a country who does not manage its debt properly aka Greece, Zimbabwe

Malaysia looks like heading that way presently. We do not see the gomen having any austerity in its budget.
Infact it is handing out more gifts which are non accretive to its economy. It's like feeding drugs to the the druggies. High for a moment. The Debt hole will get deeper and soon it will be oo slippery to come out form, IF that has not happen yet.
Add corruption to that, the perfect storm beckons.

and there's some who let greed get in the way of investing. makes them no different from the Genting group lol

not the company but the customers who go Genting to YOLO. hahahah

You are right. Our culture does not indulge in proactive planning. It's all very reactive. May be too late to retriev the sins of our fore fathers..........DEBT. We may be too far down the slippery slope to be able to get back up.

The ruling is the exporter must bring back the export proceeds into the country, ie repatriate back to a licenced Msian onshore bank, within three months after the transaction. Hence, the exporter can wait and wait till the RM strengthens before TT'ing out from the overseas acct where the fund is parked.

Or,... the exporter may give a 6-month credit term to the overseas customer, then the overseas customer pays in 6 months time into the overseas bank acct., and the 6-month 'bringing-back period' will be for another 6-months from thereon. All in,.. one year to bring back and convert into the RM,....