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,....

What if I as an exporter decided to have offshore account in SG/UK/HK and ask my clients to bank in the money into those account. That way, I don't need to convert my earnings into RM right? Just a thought 

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,....

What if I as an exporter decided to have offshore account in SG/UK/HK and ask my clients to bank in the money into those account. That way, I don't need to convert my earnings into RM right? Just a thought 

Yes, u r rite

bnm/fin min will surely like everyone to bring back in RM instantaneously.

probably thinking ways to "force" all big and and small monies back.

but biz people are usually clever and well prepared.

if they blindly comply 100% quick and risk high exposure, they are not very good biz people.

What if I as an exporter decided to have offshore account in SG/UK/HK and ask my clients to bank in the money into those account. That way, I don't need to convert my earnings into RM right? Just a thought 

BNM should track the proceeds which are incurred during exports - then again, don't know whether they do this accurately or not ?? Chances are high they don't.

If wanting to force monies back,... the Indon govt is doing it now,... can see their model,... but if this happens, all ministers also 'kena',...

BUT : if exporters don't bring their money back, we also die,... if the RM can't appreciate.

So,..................which one do you guys want ????? I vote that the exporters bring back. Somebody will have to lose here, cause we are staying in Msia. WE hold the Msian Passport, and we are born in Msia.

This was what happening prior before the new rules.

But if company continue to do this after the new rules set, then it clearly break rules.
Not something company want to do to disobey what BNM or authority has ordered.

BNM does not have control over offshore account. One can simply tell their clients/customer to bank in 100% into offshore account and return back 25% to Malaysia. I can't see how this ruling can force exporters to comply especially when BNM does not have control over offshore accounts unless they track all exports and invoke a fine on the exporters who don't comply.

BNM does not have control over offshore account. One can simply tell their clients/customer to bank in 100% into offshore account and return back 25% to Malaysia. I can't see how this ruling can force exporters to comply especially when BNM does not have control over offshore accounts unless they track all exports and invoke a fine on the exporters who don't comply.

not so blatant la... that will amount to smuggling or illicit fund flows, big trouble if they wanna get u.

i m sure there r better ways to delay, minimize the effects.

successful exporters weren't born yesterday.

but here is not the right place for such discussions.

BNM doesn't need to cross check with Offshore bank or need to track every single export.

You issued tax invoice on 13/12/2016, and the goods being delivered worth 10 mil to overseas clients, after 3 or 6 months later, where is the 7.5 mil sales proceed?
Fail to show/explain, break the rules.

Knowing our govt,... 3 or 6 months later,...everybody will forget abt it, people would have changed, documents missing, hard disk crashed,... 

Unless they happen to target one or two lar,... see who 'gets the lottery',... BNM also wants to have an easier life,....

Knowing our govt,... 3 or 6 months later,...everybody will forget abt it, people would have changed, documents missing, hard disk crashed,... 

Unless they happen to target one or two lar,... see who 'gets the lottery',... BNM also wants to have an easier life,....

Malaysia has once again attained the unenviable “honour” of being in the top five countries which registered the highest average illicit financial flows over the decade.
According to the latest annual report by Washington-based Global Financial Integrity (GFI), Malaysia had lost an accumulated amount of US$418.542 billion (RM1.8 trillion) since 2004.
In 2013 alone, Malaysia lost a total of US$48.25 billion, according to the global financial watchdog.
The illegal capital outflows, said the report, stem from tax evasion, crime, corruption, and other illicit activities.
Malaysia has also remained stagnant in its position as among the top five countries for illegal capital flight.
After being ranked second worst in 2010, it “improved” to fourth place in 2011 and remains in fifth place since 2012.
For 2013, Malaysia is once again ranked behind China, Russia, Mexico and India.
Read more: https://www.malaysiakini.com/news/324458#ixzz4SgpEJnvd

Malaysia ranks No 5 in illicit outflows, GFI
Posted on 17 December 2014 - 05:38am
PETALING JAYA: Malaysia lost over US$48.93 billion (RM170.7 billion) in illicit outflows in 2012, making it a cumulative US$394.87 billion during the 10-year period from 2003 through 2012, according to the international anti-corruption group Global Financial Integrity's (GFI) latest report.
http://www.thesundaily.my/news/1269599

What rising oil means for interest rates
http://www.cnbc.com/2016/12/12/what-rising...rest-rates.html
How Trump's tax plan will hurt Malaysia
https://www.malaysiakini.com/news/365998
TRUMP’S TAX PLAN: THE HIT ON MALAYSIA
http://www.malaysia-chronicle.com/trumps-t...it-on-malaysia/

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,....

What if I as an exporter decided to have offshore account in SG/UK/HK and ask my clients to bank in the money into those account. That way, I don't need to convert my earnings into RM right? Just a thought 

Knowing our govt,... 3 or 6 months later,...everybody will forget abt it, people would have changed, documents missing, hard disk crashed,... 

Unless they happen to target one or two lar,... see who 'gets the lottery',... BNM also wants to have an easier life,....

Saw in newspaper today, got few predictions for 2017 for myr/USD rate..
Nomura - 4.76

Nomura expects ringgit to fall further in 2017 BY LIDIANA ROSLI - 13 DECEMBER 2016 @ 3:10 PM Facebook 0 Twitter Share 0 KUALA LUMPUR: Global financial services firm Nomura expects the ringgit to tread at RM4.52 against the dollar by the end of this year, and to fall further to RM4.76 by the end of 2017. In its equities and economic outlook briefing held here earlier today, Southeast Asia Economist, Euben Paracuelles and Southeast Asia Equity Strategist, Mixo Das, outlined the justifications for this. "First of all, we are expecting a rate hike of 25 basis points (bps) from the United States Federal Reserve (Fed) this month," said Paracuelles. "We are also expecting two more rate hikes in 2017 from the Fed. In response, we expect Bank Negara Malaysia (BNM) to cut interest rates, also twice next year," he added. On top of that, he stressed that Malaysia, alongside Singapore, have been marked "underperform" within Southeast Asia because of multiple compression on its respective economies. "This, of course, is a factor, but Malaysia also has to contend with ongoing political noise that has been (going on) for a while," said Paracuelles. "We are expecting a General Election perhaps in the second quarter of next year and if this is to take place, it will exacerbate ongoing uncertainties even more," he added. Nomura also expects Malaysia’s Gross Domestic Product (GDP) to grow at a rate of 3.7 per cent, well below BNM's projections of 4.2 per cent.
Read More : http://www.nst.com.my/news/2016/12/196483/...ll-further-2017

Still floating around 4.40/4.41
Saw in newspaper today, minister rahman dahlan said, oil production is good for Malaysian economy..
But sad news is oil expected to be USD 65/bbl later when all the production cut is real..
So guys u know what will happen right.. Fuel price up, everything also follows

nomura... here's why:
when oil goes to 65, our petrol price may be rm3 per liter if unsubsidized.

good? i can't imagine what happens then.