Repcoyeoh, you are OT already. Keep to the subject of Stock Market.

on the currency that the ringgit is

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Added on September 9, 2008, 10:54 amIf you want OT...most of the thing here aer OT...Stock market = Withinn KLSE or other medium...So why are we talking about economy and political issues?


This post has been edited by repcoyeoh: Sep 9 2008, 10:54 AM

yalo.......dun say like tat la....repcoyeoh....i'm a product of STPM leh....and it's becoz i come fr a poor family mind u......

so??? regionally they r 'reacting' to yest surge...saying..."y surge so much, not as good at that also la the condition" while the day before they were reacting like "yahoo...sure go up one....world economy is going to be better!!"

??????????

ah...I get it.
Less competency equals to less productivity.= poorer decisions.

I was refering to whoever that is changing the rate or whatsoever you call that...and not the product it self...I remember back then the finance minister was a laughing stock for calculating some figures wrongly...

That's right, we can talk and discuss about how our stock market is affected by out economy or political stability. And even how it would relate to global currency tradings which will pull foreign cash out of the KLSE. That's staying on topic, but when you start talking about politics for the sake of politics and it's differences and defending your posts with a weak argument as above just for the sake of talking more politics. Then the discussion breaks away from the topic at hand and will de-generate into a flame fest which would benefit no one which came into this thread in the first place to discuss about the stock market and not the details of politics.

There are sub-forums and threads on politics already. No need to discuss about it here. And thus my suggestions to stay on topic rather than to escalate the discussion further.

If you say so...But I am not in a deep knowledge of political activities in Malaysia

Yesterday is not BNM intervention but a broad based dropping of USD due to Fannie and Freddie bailout. But USD on strength again today. I don't think current USD rebounding is due to better US economy ahead but rather a massive shift of fund around the globe due to deleveraging and unwinding of carry trade.

FYI, BNM lastest foreign currency reserves stood at 122 billion USD equivalent Rm400 billion.
Generally it is not advisable to any central banks to intervene, market will correct themselves, most of the time intervention won't have a great effect or minimal effect Except HK whom managed to fence off the hedge funds and speculators back 1997 crisis time

Malaysia has already rack up the foreign currency reserves since 1997 crisis due to constantly trade surplus.

I just want to add few point,
A weaker currency never a good sign of strong economy. A country economy strength is from both export and internal demand. In fact, internal demand is always the key of health of economy. The more export the more income of the domestic economy which eventually transform into a better domestic economy ot internal demand. If export is flourishing but internal demand is weak, then there is something wrong in between already. (That's the main problem Malaysia is facing)
In fact if a country can self sustained, then export is not an important aspect. You produce your own foods, own product, you consume within and self sustained also can be a dynamic economy (typically like US), internal economy is the one the matter the most, not its export. Export is like icing on the cake. Just extreme illustration point (I knew in current globalisation, export and trade also an important part. Economy is always about flow of money in the between.

If one country is constantly relied on weaker currency to export, it is similar for company out there that always relied on selling cheaper goods compared to other in order to drive the sales. Instead company should focus on to have better value on the product itself. Price war (weaker currency) never end and it will hurt your bottom line over the long term. You must create a value added product which people willing to buy over you compared to competitors even though price is slighly higher.
The analogy is same as buying electrical appliance. A xyz brand tv from China the sell at 1,000, a Sony TV sells at 1,200. No doubt, xyz still sellable, but the Sony TV won't lack of buyers either. So you can always relied on xyz cheapo brand to drive you sales, because to replace a xyz brand, it is easy for someone to come out another one. But to beat down Sony, then competitors will have hard time to do it.

Instead, what Malaysia needs to transform is to increase productivity and changing into high value added industry to transform into a better economy. Solely always relied on weaker currency to drive export won't be good for long term. As weaker currency means higher inflatoin, lower internal purchasing power for Malaysian.

Just my 2 cents.

This post has been edited by cherroy: Sep 9 2008, 11:27 AM

good job Cherroy as always! back to stock market discussion pls

"lack of internal demand" ...this is wat US is facing rite now isn't it?

"Instead, what Malaysia needs to transform is to increase productivity and changing into high value added industry to transform into a better economy"- this is for m'sia to move forward rite? instead of being just a mere 'manufacturer'??? V need Steve Jobs here!

Because I am here to give another opinion on how our economy is. Even though my investments might be doing good, my family businesses are affected. So I am here to serve a warning. Those like yourself believes that Malaysia's economy has a future might not want to listen to me. But time and time again, history has proven itself.

History always repeats itself.....If its the family business that you are after...you won't even be in this thread

Hmm....Adam...at least ur family also felt M'sia has a future rite? if nt why do biz here???

???????

Cherroy, only problem with that is Malaysia's policies discourage our highly educated malaysians to come home. We been supplying BRAINS to US, UK, Australia..

IF we want to innovate our economy, these graduates must return home.

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Added on September 9, 2008, 11:27 amYou can't uproot families just like that? After years of doing business, you can't just tell them to close shop and go?

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Added on September 9, 2008, 11:28 amYou don't even know me, you don't even understand what i stand. And you dare to mock me saying i am after my family's business? Hello, a man lowlife as you would think that way. But I was raised to feed myself.

Please check yourself before questioning other people's background.

This post has been edited by AdamG1981: Sep 9 2008, 11:30 AM

No point coming home if we are squartters...I remember Badawi asked a few people last time why they don't want to serve the country and want to work in UK and all...This person replied...last time he went apply for Univeristy of Malaysia, and was rejected even when he had straight A's...and it was the Singapore Government who gave him the scholarship to further his studying...What has the country for for me when I was in need for help?...And now that I have become a professional, you want me to go back to serve the country? What has the country done for me???

Badawi got

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Added on September 9, 2008, 11:30 amWhat I meant was if family business was the issue, you won't be in this thread...

This post has been edited by repcoyeoh: Sep 9 2008, 11:30 AM

But Cherroy, what I understand is , since our currency was unpegged, Bank Negara has been doing monitoring of our currency as well as keep it in check, so that it is not out of line with regional currencies. That means intervene on their part.
As for yesterday's strengthening of Ringgit, it should have been opposite way because the news of rescueing Fannie/Freddie case attract investors buying USD for hope of bit of economy recovery. So, there might be some sort of intervention otherwise it may drop to > 3.50.
As for today, crude oil continue dropping, investors still believe the rescue plan is workable, USD continue strengthening.
Juz my opinion.

and if you blame others for perceiving the view wrongly, its your fault ...You are nobody for me to question your background even if you are somebody...I won't be bothered

The problem US currently facing is not lack of internal demand, but lack of money to spend on it, due to credit crisis aka banks reluctantly to lend while reduce their balance sheet size.
FYI, US people has negative saving rate, while Malaysia has more than 35% saving rate. So basically different scenario, different problem to tackle.

We don't need Steve Jobs, Japan, Hk and Singapore is the leading example how you transform the economy.

I don't want to drag into political stuff, better stay within scope of finance. Just like we said political instability now, so lead to lower stock market and economy outlook. So with that poor outlook, then we make a decision on out investment target either to invest in US or other currency etc. That's all.
Don't need to comment what is wrong on political side, as this thread is always about $$.

Cheers.

Okay, let me tell you guys a brief history of my family

My family is involved in selling traditional batiks, and we hire 50 locals in our 4 retail stores. The first fuel hike hurt us tremendously. Business has been slow, and inflation remains high. The second fuel hike killed any margin left. I am not sad, i am angry, i am angry that hardworking businessman do not have the opportunities to succeed here. I am angry that their hardwork is causing them misery.

For years they been working their butts off, but for what? TO lose more money? It's easy to tell them to close shop, but it's what they been doing for the last 30 years. There's emotions tied into their business, sweat and blood to build a business that eventually dies.

The economy is never on demand and supply...Theorically yes...Pratically no...Its in a monoply situation...Govt can buy their currencies and short their currencies..

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Added on September 9, 2008, 11:38 amDid we ask?

This post has been edited by repcoyeoh: Sep 9 2008, 11:38 AM

It's people like you that Malaysia will never become a developed country. You can challenge my thoughts, my ideas, and my principle. You can even call me names and spit me in my face. I welcome that.

Because you are very far from my standard. Only barbarians provoke and seeking for a fight.

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Added on September 9, 2008, 11:42 amWas i talking to you?

Enough of this talking, you want to settle this? Where are you? I can come and look for you. I'll give you chance to spit at my face and talk shit in front of my face.



This post has been edited by AdamG1981: Sep 9 2008, 11:43 AM