Have you consider getting a forward contract to hedge your position? Not fun la, depend on pure luck at the point you need the USD

purely coming from risk management perspective, sure you may enter into a forward that is higher than actual rate, but it probably won't be at the highest point

But DCI is more suitable for people with flexibility in timing/no urgent need of the currency but wouldn't mind holding the currency
your RM would most likely push for DCI but forward contract is the more effective tool for confirmed amount and timing of forex need. That's the popular instrument that corporates use to hedge their FX risk also. Obviously the amount is significant enough for you to consider hedging

Just worked out your base and realise it's sub rm200k; may not be worthwhile paying for forward contract. but can always ask the banks. It's a OTC product, so banks are the ones offering such product
My knowledge about forward contract is rather academic, so dont quote me on it

As for DCI, I guess you can consider too, the spread would be smaller than spot most of the time. But you may end up with the foreign currency before you actually need them or doesn't strike even at the date you need them

Not sure why you say DCA has a minimum deposit amount. I have FCA account with UOB when I opened the current account, there's no minimum holding requirement wor. In fact, I've never put a single cent in any of the FCA account yet

DCI is the structured investment. Probably best to get banker to explain to you the details, though some of the bankers don't seem to know the product well enough also. You should at least get information on when would it strike, what are your options when it strikes, what is the factors that determine the spread, etc. And perhaps compare rates that different banks offer to get the best deal

FCA is just a basic deposit account for foreign currency, I think minimal or no interest. FD rate offered for most foreign currency is miserable.

Not exactly sure what is DCA. But minimum holding of USD3k is painful considering there's minimal/no interest, not to mention the FX risk.

So you changed already or not? SGD is attractive at the moment. Compare 3.16 high to current 3.09, you already gain 2.2%; your lower gains in FSM MY is no biggie. Besides, you invests in Asian funds, sure like that one; when you MYR strengthen, funds would suck and vice versa.

But it may be too late already; it takes T+4 to sell the funds and by then SGD may bounce back; USD bounce back a bit dy

So did you change all your money into USD? What do you do with the USD?

No way banks would pay 5% interest for US Dollars lor. So the incremental is really credit risk premium that they are paying you. Ppl here like ETFs, why not consider that?

This part I agree with you. Some people just change USD cash and sleep on it. They don't consider the opportunity cost and therefore eventhough TT-ing it out would be more expensive than money changer, but because it's in a bank account offshore, there's more investment opportunities than the cold hard USD sitting at home or in the safe.

This is coming much sooner than I expect. Received a mail regarding my UK bank account (almost dormant) where the bank is asking for TIN (tax identification number) to comply with the CRS

The CRS site also updated to indicate that SG and MY is going to be onboard in 2018 I think

This should have big impact to the bosses who have lots of cash, shares, UT outside of Malaysia. For now I think properties not on board yet

You might have pay tax but if you are really good at saving up and investing, IRB may still flag the account and query you. It's the hassle that you have to go through to close the case la

I don't think you really understand what this means

Yes, income earned from overseas not taxable in Msia and I agree that those who worked outside of Msia and do not hold tax residency in Msia would not be affected in Msia but in the country where their tax residency is

But you are going to work in Msia right? So you pay taxes in Msia, then you transfer some of your money overseas for investment

Sure, the investment income is not taxable. But when IRB got hold of your asset value overseas, they would compare to what they expect you would have based on the taxes you paid in Msia; if you have way more than what they expect, then they would raise a query letter to you to ask you to explain and provide proof that the investment income was derived outside of Msia and therefore you have not under declared Msia tax

The intention of the rule is good; it help identify all the tax evaders and improve tax collection efficiency

But only when you kena query you'd understand the pain of having to compile those information to support your case

I guess it's a timely reminder for me to keep the documentation better just in case

Absolutely, when USD is weak, 2 weeks zero replies. Actually, isn't this the best time to hoo haa and say how much they managed to change?