hunt for a used dahon chromoly framed bike. really comfy for touring/long distance travelling. maybe need to increase your budget a bit. but it'll be well worth it.

There's a korean used item store nearby Ampang selling a Dahon D7 with dirt cheap price.
I had check and most part is alright, Might only need to replace chain and cassette, maybe tire as well.

It's a super good deal from what i see. Been tempted to get but i have too many bikes at home 

Java / Trinx are good enough for fresh blood. It can handle mid-level ride but pls look for 8speeds and above. Easy for u to upgrade later on.

However, I do think u might wanna increase ur budget a lil bit. Must consider cost for other cycling gears such as blinker, helmet, spare tyre etc.

Pls check the hinges before purchase and ask the bike shop to tune ur bike first upon confirmation.

as stated before if u wanna find comfort on touring u can go with chromoly frame. theres no wrong with aluminium for touring, also can use. there are few folding bikes makers make chromoly frame. if i can recall dahon makes 2 frame. one is dahon speed and another is dahon boadwalk. java create one frame - java ira, but those setup are for speed demon with 451 wheels. khs and japan-korea brand oyama also got chromoly frame, but not many using it as touring bike like dahon. tern also makes touring folding bike, but used aluminum with all touring spec.

as for me, gears and wheelset can be upgraded later. mine also has been upgrade, the main criteria is a good frame.

about ur tight budget,
increase a bit coz last time i bought dahon speed for rm1.1k used. and normally market price for used one are from rm1.3k and above. im from ipoh, last time i asked my friend to inspect it for me and later posted it to me. a bit hassle and costing, but still consider secured transaction. a good brand come with good hinges and handlepost technology.

trinx and java also a good bike. but finding a good frame that last longer for any terrain and condition u can rely on dahon for more than 30years experienced making folding bike. i've been using my dahon speed for more than 3 years with all terrain and ride i've tested. even some offroad condition. the best and super solid bike i can said.

If you can wait, i find fnhon from taobao value for money..sub 1k but good spec./