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 USD/MYR and SGD/MYR

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CommodoreAmiga
post Mar 3 2024, 04:26 PM

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QUOTE(Ramjade @ Mar 3 2024, 04:25 PM)
Please don't use banks. You are easily losing 2-3% to banks for each transaction. I know. Cause I checked.
Just give them the documents they ask. If you got business, just business account. Can transfer more.
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Yes, i will give document this week for subsequent transfer.
CommodoreAmiga
post Mar 3 2024, 04:51 PM

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QUOTE(Danhost @ Mar 3 2024, 04:43 PM)
Hi,
I wanna to ask I want move some of my USD saving in M'sia bank's USD account to Singapore USD account, can I request a USD cheque from Malaysia bank bring to Singapore and deposit bank in Singapore? any fees involved? I know I can tt there but just think of if any other option.
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Use WISE to transfer native currency to native currency. Transfer from Malaysia USD to WISE (in USD), then from WISE (USD) transfer to SG Bank USD. Not sure if there's any charges or not, but i remember i have transfer SGD from WISE to SGD in Sg bank, no fees. At least you skip all currency conversions which are not needed. But there is a limit in WISE...RM20K for personal account or RM100k for business account if i remember correctly.

This post has been edited by CommodoreAmiga: Mar 3 2024, 04:52 PM
CommodoreAmiga
post Mar 4 2024, 09:20 AM

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QUOTE(AVFAN @ Mar 4 2024, 07:58 AM)
Later Fahmi rage and raid FMT....Wow, if this is true, we can challenge US printing machine....except we don't have anything to back up the printing...US got guns, bombs, airplanes and economy.,,we have..Plotong.
CommodoreAmiga
post Mar 6 2024, 11:16 AM

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QUOTE(mavistan89 @ Mar 6 2024, 11:07 AM)
Is it a good timing to convert myr to sgd/usd now?
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No one can answer you. Dead cat can bounce a bit, but long term is sure win.

Our Minister say RM can go back RM4.5 to USD 1 end of the year. You trust? Last year economist also say RM will go back to RM 4.30 in December...LAST YEAR. Now RM 4.8 already.

Look at SGD vs RM since Merdeka. If too long, look at the chart the last 20 years only.

https://www.chartoasis.com/sgd-myr-forex-ch...-20-years-cop0/
user posted image

I have absolute confidence in Singapore success and have absolute confidence there is no saving Malaysia. How convicted you are? If you are convicted in either direction, you will take the appropriate action for your conviction.



This post has been edited by CommodoreAmiga: Mar 6 2024, 11:25 AM
CommodoreAmiga
post Mar 6 2024, 11:39 AM

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QUOTE(prophetjul @ Mar 6 2024, 11:33 AM)
That long term chart is not going to change any time soon.
It is a reflection of the culture and leadership of the 2 nations with regards to prosperity and nation building in respect of globalisation.

i started in 2008/09 and never looked back. i only looked at this long term chart now and again as a reminder of the future.
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You are probably looking back now and laughing gleefully...damn me jeles.
CommodoreAmiga
post Mar 6 2024, 03:02 PM

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QUOTE(elea88 @ Mar 6 2024, 02:14 PM)
wah u making me depress.
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No need depress. Just think of what you can do to rectify the situation.
CommodoreAmiga
post Mar 6 2024, 05:18 PM

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QUOTE(prophetjul @ Mar 6 2024, 03:51 PM)
CommodoreAmiga
i was asking about tax implication of foreign derived income. What are your thoughts about this?

https://forum.lowyat.net/index.php?showtopi...ost&p=109282328
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Boss, i dunno boss. I am in process of moving assets out of Malaysia. Whatever little i earn outside, i just keep it there only. So this haven't cross my mind yet. Another question is, if you trade stocks, do you need to declare? If i bring back some money next time for pockey money once in a while....how? Any expert? Now i am keeping in my broker account only. Also thinking of having another SG broker for SG stocks...don't wanna put all my eggs in one broker. One for US stocks, one for SG stocks. Any recommend SG broker?
CommodoreAmiga
post Mar 6 2024, 06:17 PM

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QUOTE(Ramjade @ Mar 6 2024, 06:07 PM)
Only if you got no full time job and that is your main job.

Fsm hands down. If you want cheaper maybe tiger. Not sure if you can open moomoo sg.
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Yeah I read about FSM too. Guess I go for that. Since you've mentioned Tiger also use IBKR, then I don't want since my other broker is IBKR. 😅
CommodoreAmiga
post Mar 7 2024, 11:26 AM

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QUOTE(MGM @ Mar 7 2024, 10:13 AM)
Yes SGD is No.1, and many Malaysians have benefited from it, many have become millionaire in MYR easily. notworthy.gif  thumbup.gif
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A millionaire in MYR is actually just normal kuli. If millionaire in USD, then can talk a bit...I think I know very few people above 40s who doesn't have RM1 million networth at least.

This post has been edited by CommodoreAmiga: Mar 7 2024, 11:27 AM
CommodoreAmiga
post Mar 7 2024, 01:18 PM

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QUOTE(hksgmy @ Mar 7 2024, 01:10 PM)
You keep impressive friends notworthy.gif
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But I am not so impressive....😅
CommodoreAmiga
post Mar 7 2024, 03:40 PM

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QUOTE(Hansel @ Mar 7 2024, 03:25 PM)
Ramjade really actsy fella,....

Perhaps being more humble and discrete is better,...
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QUOTE(Ramjade @ Mar 7 2024, 03:31 PM)
??? Which post? I am just telling the truth.
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QUOTE(Hansel @ Mar 7 2024, 03:36 PM)
Most of your posts in the above here,...... it's the truth, no doubt,... but no need to say so directly and openly,...
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Eh, what is this all of a sudden. Ramjade provides a lot of good info. Some people are just direct to the point. No need beating around bushes. It's not like he is showing off photo of his Lembukini and Felali.

I think that is quite uncalled for.
CommodoreAmiga
post Mar 8 2024, 07:37 AM

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QUOTE(AVFAN @ Mar 8 2024, 07:21 AM)
latest:

Powell says the Fed is ‘not far’ from the point of cutting interest rates
https://www.cnbc.com/2024/03/07/powell-says...rest-rates.html
The outlook now is for the first cut to come in June, with four reductions totaling a full percentage point by the end of 2024.
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Should be cutting starting from mid year.
CommodoreAmiga
post Mar 8 2024, 02:51 PM

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QUOTE(AVFAN @ Mar 8 2024, 07:54 AM)
if fed cuts 1% by year end and BNM do same, we can expect inflation to roar here.

almost everything will go up in price, incl oil, food imports.

it wud be much more difficult for gomen to reduce subsidies, esp petrol.

stocks and commodities will rise in tandem.

meaning, bank deposits become less n less attractive, better go punt on stocks and commodities! laugh.gif
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I don't think BNM will cut...until Feds lower down below 3%.
CommodoreAmiga
post Mar 8 2024, 03:19 PM

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QUOTE(ericlaiys @ Mar 8 2024, 03:05 PM)
fed up so many times, our cut so little. we wont go down with just 1 cut
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RM already lao sai until Pagoda "Fong Sar Yuen" also cannot save. Now barely naik back sikit, cut rates again, terus lao sai. If naik rates, many people make noise. If no changes, there is no noise. Already naik, stay put diam diam and let US cut, later can claim gov intervene and save RM.
CommodoreAmiga
post Mar 12 2024, 03:34 PM

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QUOTE(TOS @ Mar 12 2024, 03:21 PM)
Oh BNM now requires anyone who exchanges money in Malaysia to register, regardless of amount.

https://johor.sinchew.com.my/news/20240312/...7102279668a0a58

Good business for SG money exchanger...
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Really crazy....RM3k already very low...not even SGD 1k.... Now exchange RM100 also need to give IC. What do they hope to achieve with this?
CommodoreAmiga
post Mar 12 2024, 05:08 PM

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QUOTE(Wedchar2912 @ Mar 12 2024, 03:39 PM)
They want to slow us down. Make it harder to convert so that we think trice before converting.
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But we all convert online....previously convert RM3k already need to write IC. Money changer can be trusted with your info? Furthermore, those doing illegal things sure got many money mules using multiple ICs. I doubt they can check anything even with all the info.
CommodoreAmiga
post Mar 12 2024, 06:58 PM

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QUOTE(Wedchar2912 @ Mar 12 2024, 06:40 PM)
the "we" is generic... actually I was thinking more of all those illegal and legal foreign workers... how many do we have here? maybe 2 to 3 million? imagine 3 million x 1K rm worth... that's 3 billion ringgit...
and the rest of us citizens should have a few million too that may do small conversion???

its mainly to slow the conversion of funds down....
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If Bangala want convert. What can we do? It's not like illegal activity. whistling.gif We can't stop them converting Bangala to send money back home to their family.
CommodoreAmiga
post Apr 7 2024, 12:13 PM

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QUOTE(AVFAN @ Apr 5 2024, 06:16 PM)
Economists are unanimous that petrol subsidy rationalisation is almost certainly going to bring about a general increase in the prices of goods and services, and even the World Bank Group is estimating that a complete removal of fuel subsidies is likely to cause a 9% increase in consumer prices.
https://www.thestar.com.my/business/busines...mpact-consumers
what will happen to RM if inflation jumps by 9% due to petrol subsidy removal??
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No need economist. It's a no brainer inflation will shoot up after petrol subsidy removal. If they have brains probably do it slowly...like 20 cents every 4 months or so. If suddenly up RM1+...Wahhh farked.
CommodoreAmiga
post Jun 13 2024, 09:17 AM

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QUOTE(nexona88 @ Jun 11 2024, 05:52 PM)
SGD / MYR rates better stays 3.40 - 3.45 range...

I need to convert some later on of the year 😁

MYR strengthen... Less $$$ for me then 😭
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I am now putting my FDs short term, 3,6,7 months. Anytime RM naik a bit more, i will convert to SGD and USD.
CommodoreAmiga
post Jul 3 2024, 04:25 PM

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https://www.freemalaysiatoday.com/category/...43-by-year-end/

Let's see the Sinkarlan economist prediction of USD1@RM 4.43 by years end. 😂

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