I think the absolute amount counts as well though obviously no one is going into details about their net worth here. What I mean is assuming your net worth is 100k and you have 100% invested in foreign assets compared to a person with 10mil net worth with 20% invested in foreign assets, then of course the person with 2mil invested overseas can say that what they have overseas is quite significant and can even allow him or his family to survive on foreign assets alone for quite sometime compared to the person with 100k overseas. I understand that to compare across individuals, percentage is the only metric suitable but in my opinion absolute amount is important too. The higher one's net worth especially if one has multiple properties, I think the lower one's foreign assets % is in practice. In short, I don't think there are many rich people with more than 30% of their net worth invested in foreign assets not counting those who has migrated or has plans to migrate or has dual residence.

That's what I said too. Those rich ones with intention to migrate or have dual residency not counted. I expect them to have higher % of net worth overseas especially of course the full migration ones.

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?"

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

Eh....cannot simply use the term "all time" lah.

All experts here have all converted to foreign currencies already. That's why everyday they used to bash RM, hoping for the whole of bolehland to crash and burn. When RM is up, there is not a single post on it! Not one single post for days. But if RM weakens, the update is like real time.

I am just a casual observer... ke ke...

Wondering how the RM is doing. Any updates?

Last time got people posted a lot of articles explaining how and why RM kept weakening and heading to 5.0 but now it is like Malaysians are less interested in knowing why RM has strengthened...RM strengthens good right? Or those people already migrated....

Lol. To be fair, I think he vanished way before that even when RM was sinking. Got others more excited naysayers around at that time.

Be like water...good good good...

Hokkien lang say "bo pang sua" (never let him off the hook) on unker...you really ah......ha ha

another naysayer in this thread lah...u sure know one...he hasn't appeared ever since RM strengthened ...waiting for the "right" time to appear again

This post has been edited by aspartame: Jan 26 2018, 07:32 PM

Ya, previously say RM will go down the drain because of 1mdb. Now, Pakatan takes over with new Finance minister and council of elders and clamp on corruption - it should be very good news for RM in the long term.

If 1MDB was the reason people give for RM depreciation from RM3.20 to RM4.30, then surely removal of this problem should send RM back to 3.20 at least, no?

I think partly because the whole political campaign centres mostly on 1MDB. There seems to be a need to justify the worry and critism on the part of Pakatan. Hopefully, after this "justification" period, he will be more tactful and reserved.

The USD strength is against all currencies. Since election, RM has strengthened against most other currencies...despite the selldown in Bursa and purported outflow of funds

Ya, too short a time to make any conclusion about RM long term movement. Hopefully, by the removal of common excuse to sell RM (being 1MDB), RM will continue to strengthen lah. Transparency and "overstating" of national debt is good. Any improvement in debt level from now onwards is positive on RM.

Wow! That's what I call a bold call! I like this unlike most gutless analysts giving those 10% up or down from here prediction.

Dr M himself said 2 days ago more taxes are coming. he said this in a speech to fund managers/bankers and I hope he is not talking about CGT and Inheritance tax because he said these new taxes would not burden the rakyat too much, If his definiition of rakyat excludes the "rich", then these 2 taxes target at this group. If this is the case, that is, we take out GST only to replace with SST, GST and inhertitance tax, then I much prefer the GST. Dr M himself does not like capital market activities too much. He said they are not productive. Hnece, I will not be surprised if CGT is introduced. I hope PH government do not get fixated with achieving budget surplus. Budget surplus does not mean good governance.

Yup. All these additional taxes just increase the messiness of tax submission/calculation. Much prefer a simple tax system. Current PH gov also should have just reduced GST to 3% since everything already implemented. Just need to play with % to increase/ deceased tax collection but alas a lot of politically motivated moves.

But if transfer the name to kids say 2mil and tax 10%, straight away pay tax 200k? Wah! No cash received yet! For shares, how to differentiate the cost price of each share sold, which are short term contras and which are capital gains? Thats why I think its going to be messy...why introduce such a messy tax? Not to mention scare away investors...I think only a few countries have CGT. Singapore, Thailand, hong kong, taiwan dun have. US and Oz have and US tax filing very "thick". US is different...it is the biggest financial centre...funds have no choice but to be exposed there. Malaysia? ha ha... good luck