Now the question is that whether bank(s) falls under "Residents", since the defination of Resident is as below in BNM website:

Residents:
•Citizens of Malaysia (excluding persons who have obtained permanent resident status of a territory outside Malaysia and are residing abroad);
•Non-citizens who have obtained permanent resident status in Malaysia and are residing permanently in Malaysia; or
•Persons, whether body corporate or unincorporated, registered or approved by any authority in Malaysia.

Loan is taken from bank registered in Malaysia.

I have credit cards and 2 car loans from Malaysia registered bank. No house loan.

So does the sentence below refers to banks because the word "Person" which I assume it refers to an individual under his own company (Sdn/Sdn Bhd)

"Persons, whether body corporate or unincorporated, registered or approved by any authority in Malaysia."

This post has been edited by Sitting Duck: Feb 4 2024, 12:27 PM

On this 1 is very clear statement with "online onshore bank". That clears my doubt now that any Resident that has more than 1 car loan and 1 house loan from Malaysia banks is considered to have domestic ringgit borrowing.

Thank you for pointing out the statement that clears my doubt.


Yes. I am a citizen of Malaysia.



Lastly, thank you for everyone that assisted in my query.
You guys were extremely helpful and I appreciate it. Lowyat bros and sisters are really helpful as always

This post has been edited by Sitting Duck: Feb 4 2024, 12:42 PM

I saw the 1mil cap in my FSM account and I was puzzle about that and you just clear the question I had.

Thanks for the answer.

https://www.fsmone.com.my/funds/research/ar...-details/281500

The processing fee is only MYR1 for every RM1000, which is 0.1% fee if you invest RM1000 lump sum each RSP.
I don't think there's any platform lower than this at the moment.

There're some cons using RSP or using FSM as pointed by other sifus.

I'm unsure about the fees impose when selling. So far I've not sold any of my ETF yet.

Whether these fees and others applies (https://www.fsmone.com.my/etfs/get-started/stock-fees):

1. Processing fee
2. Stamp Duty
3. Exchange Trading Fee (SGX, HKEX) / Exchange Trading Activity Fee (US)
4. others?

I've been doing RSP for VOO, SMH and QQQ using FSM which allows me to purchase friction of a unit. The cost of RSP (buying) is about 0.1% per RM1000. The 0.1% includes every fees and charges.

Has anyone compare of RSP between FSM and Moomoo?
I think Moomoo also allows the purchase of friction on a unit.
Just wondering whether I should switch my monthly RSP to Moomoo if the cost is lower.

The fees structure listed in Moomoo website is quite complicated.
https://www.moomoo.com/my/pricing
1. Platform Fees (does this apply to fractional shares?)
2. Charges for Fractional Shares Trading
3. Stamp Duty (does this apply to fractional shares?)
4. Settlement Fees (does this apply to fractional shares?)
5. ADR Custodian Fees (does this apply to fractional shares?)

Anyone can share the cost per RM1000 for fractional shares in Moomoo?

I also heard that Moomoo app is pretty good with lots of information and news. One of the reason why I am thinking of switching.

Thanks.

I'm listening to Bloomberg Business News and heard that Kamala Harris wants t increase the Capital Gain Tax from current 20% to 28%.

Would this affect the US Stocks / ETF that we are buying since ETF dividend has a withholding tax of 30%?

Does it mean that when one sells US Stocks / ETF, there would also be a withholding tax of 30% and capital gain tax?

Hi Sifu,

Now that RM is strengthening against USD. What's your strategy on US ETF and stocks? Are you planning to exit from US market and take profit before exchange rate wipe out the profit for the past years. Re-enter once the RM to USD stabilizes or just continue to DCA?

My portfolio for US market was having 25% earnings but now down to 15% despite the price at ATH. The gain probably may continue to reduce significantly till end of the year since prediction is that RM will continue to strengthen against USD.

My gold portfolio is also taken a small hit due to stronger RM. Despite gold at ATH, the gold price in RM was slightly lower before gold hit ATH.

Hi Sifus,

For those that subscribing to US ETF RSP, did you notice in the Jan 2025 RSP, that FSM has started charging Processing fee of USD0.22 for every RM1,000 RSP?

The weird thing is that the processing fees is charged on my VOO and SMH RSP but not on QQQ RSP with the same RM1,000 on each of the fund.

Anyone has similar experience or know what's going on?

Here's the screenshot of the transaction:

SMH with Processing Fees:



QQQ without Processing Fees:



This post has been edited by Sitting Duck: Jan 17 2025, 10:28 PM

There was another promotion in 2024 to extend the 0 processing fee till end of 2025. I probably shouldn't have made the assumption that promo covers existing RSPs even though FSM had similar promotion in 2024 which covers existing RSP.

https://www.fsmone.com.my/funds/research/ar...-details/296380 - 0% processing till end of 2025.

https://www.fsmone.com.my/funds/research/ar...-details/277900 - 0% processing till end of 2024 which covers existing RSP.

Both T&C are the same, even though both promotions did mention "The promotion is only valid for new ETF RSP subscriptions.". However it seems like the promotion in 2024 covers existing RSP and 2025 would not cover existing RSP. Should have terminated and re-subscribed the RSP .

Anyway, even with the processing fee and MY stamp duty, it's still 0.2% of the cost with I think it's still acceptable for me and I think it's still lower than many other MY authorized platform.

Anyone know how much momo's fee is in % for every RM1000 RSP? Is it lower/higher than 0.2% per RM1000 investment?

This post has been edited by Sitting Duck: Jan 18 2025, 03:08 PM

Hi Sifu,

Is there QQQ or SMH equivalent in LSE?

Thanks.