attract investment in that country la...duh~

if anyone of you bother to do research n some calculation u wont post that kind of reply    - -"

Interesting opinion. The interest rate for USD is maybe 2.5% now. Does that mean they don't want people to invest in the US ?

Interesting opinion. The interest rate for USD is maybe 2.5% now. Does that mean they don't want people to invest in the US ?

There are lot of factors for a country central bank or in US is Fed to decide the interest rate policy. Generally primary concern would be economic growth and inflatin situation.

You can't raise interest rate is the economy situation is in bad shape especially in US finance instituitions are under great stress because of credit crisis and subprime woes. But on the other hand, they can't let the inflation situatin get out of hand which affect the confidence issue on the particular currency.

I've just invested in FCFD, precisely NZD with current rate of 2.410.
The return is quite high with 8.51% per annum and I understand the risk of such deposit.
Right now, i need to trace back the history or futures of NZD dollar in case I need to invest more.

Do anyone of you have the link for me to study the movement of NZD?

Thanks in advance!

what about the 5% tax ? i know i seen the tax thing somewhere.

Simple and free site can be obtained through Yahoo finance
http://au.finance.yahoo.com/currency/conve...=MYR&amt=1&t=5y

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Added on September 1, 2008, 10:10 am

Witholding tax on interest gain of 5% is minimal compared to overall amount you are potentially getting. Don't worry about the witholding, more attention should be paid on the particular currency strength against RM and the interest spread.

The main purpose on investing in this kind of FD is to hedge against RM depreciation through asset diversification.

I don't know the lastest budget to abolished tax on interest getting on saving/FD is including Forex FD or not. Need to check out first, anyway, it is next year issue.

Simple and free site can be obtained through Yahoo finance
http://au.finance.yahoo.com/currency/conve...=MYR&amt=1&t=5y

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Added on September 1, 2008, 10:10 am

Witholding tax on interest gain of 5% is minimal compared to overall amount you are potentially getting. Don't worry about the witholding, more attention should be paid on the particular currency strength against RM and the interest spread.

The main purpose on investing in this kind of FD is to hedge against RM depreciation through asset diversification.

I don't know the lastest budget to abolished tax on interest getting on saving/FD is including Forex FD or not. Need to check out first, anyway, it is next year issue.

if not mistakenly, 5% withholding tax only imposed if your FD is over RM100K or equivalent to other foreign currency in FCFD.
Normally, if you have such amount of money, the banker will recommend you to split your deposit to a few accounts in order to avoid the tax.

Simple and free site can be obtained through Yahoo finance
http://au.finance.yahoo.com/currency/conve...=MYR&amt=1&t=5y

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Added on September 1, 2008, 10:10 am

Witholding tax on interest gain of 5% is minimal compared to overall amount you are potentially getting. Don't worry about the witholding, more attention should be paid on the particular currency strength against RM and the interest spread.

The main purpose on investing in this kind of FD is to hedge against RM depreciation through asset diversification.

I don't know the lastest budget to abolished tax on interest getting on saving/FD is including Forex FD or not. Need to check out first, anyway, it is next year issue.

Hi cherroy,

Thanks for merging up the threads. I understand its tough work moderating the forums.

However, the AUD Savings Plan I am referring to is not really a Foreign FD account, but rather a Close Ended Guaranteed Investment Fund which can be an alternative to FD.

It works more like a Savings/Education Plan denominated in AUD. Hence the reason why I didn't post it up together with the foreign FD threads.

Here are some of the reason why its different:

1. It comes with Free Insurance Coverage of up to 125%.
2. It is Creditor proof unlike normal bank FD, where creditors can go after your FD money.
3. There's zero withholding tax. Normal bank FD above RM100,000 is subjected to 5% tax.
4. You may even get to enjoy Tax Relief up to RM 6,000 Life Savings/EPF as well as RM3,000 Education reliefts as its considered a life savings/education plan.

This is the closes thing you can get to opening a foreign currency account without having to pay the account charges.

There will be a newspaper advertisement on the News Strait Times on the 24th and 25th April, for those who subscribe.

Offer period is from 18th April till 19th May, 2008 subjected to a first come first serve basis. Offer may close earlier if the assets are fully subscribe.

Current assets available is AUD 7 mil only.

Meanwhile, the company is trying to get more assets approved, so that more people can get to participate.

Hope the additional info can be of help to those interested.





Dear Zarth,

Hopefully you can share more of it when there are new offerinds in future.

Thank. Best Regards.

it seeems not like tat woh. i try to find the info i got from public bank, but they take the info off already.

so below 100 K is free from the 5% tax ? can more ppl comfirm this ?

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Added on September 1, 2008, 10:23 amhttp://kclau.com/investment/fca-banks-list-terms-conditions/

i got the tax info from this website after googling. that not my website.

Hi cherroy,

Thanks for merging up the threads. I understand its tough work moderating the forums.

However, the AUD Savings Plan I am referring to is not really a Foreign FD account, but rather a Close Ended Guaranteed Investment Fund which can be an alternative to FD.

It works more like a Savings/Education Plan denominated in AUD. Hence the reason why I didn't post it up together with the foreign FD threads.

Here are some of the reason why its different:

1. It comes with Free Insurance Coverage of up to 125%.
2. It is Creditor proof unlike normal bank FD, where creditors can go after your FD money.
3. There's zero withholding tax. Normal bank FD above RM100,000 is subjected to 5% tax.
4. You may even get to enjoy Tax Relief up to RM 6,000 Life Savings/EPF as well as RM3,000 Education reliefts as its considered a life savings/education plan.

This is the closes thing you can get to opening a foreign currency account without having to pay the account charges.

There will be a newspaper advertisement on the News Strait Times on the 24th and 25th April, for those who subscribe.

Offer period is from 18th April till 19th May, 2008 subjected to a first come first serve basis. Offer may close earlier if the assets are fully subscribe.

Current assets available is AUD 7 mil only.

Meanwhile, the company is trying to get more assets approved, so that more people can get to participate.

Hope the additional info can be of help to those interested.

Thank. Best Regards.

Is the above program still available please ?

Where can I find more details on the above please ?

The New Zealand goverment has announced the interest rate reduce from 8.2% to 8.0%.
http://www.learncurrencytrading.com/fxforu...ulders-top.html
It mentions that it will be revised more due to the slumping economy of the country. I think this will heart more to our FCFD

High yield currency is under a lot of pressure with interest rate cycle is on the way down, and massive unwinding carry trade. Already said NZD is already in bearish tone since last few months back.

As said before, this is not a place to chase for higher return, it is a place for asset diversification and hedge against RM depreciation (just in case).