tag:blogger.com,1999:blog-29507030.post742747065752559089..comments2023-12-25T20:53:59.459+08:00Comments on A Piece of My Mind: Malaysians are now currency experts?Goh Wei Lianghttp://www.blogger.com/profile/00183472011202771675noreply@blogger.comBlogger66125tag:blogger.com,1999:blog-29507030.post-47246140600557548142015-08-26T14:47:43.610+08:002015-08-26T14:47:43.610+08:00Hi, pls get your facts right before you start writ...Hi, pls get your facts right before you start writing on blogs... I have been trading for a long time now.... We trade in usd friend. Any way good effort. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-29507030.post-59127850700672778002015-08-15T05:59:11.834+08:002015-08-15T05:59:11.834+08:00Eh if next time you say Malaysians cannot comment ...Eh if next time you say Malaysians cannot comment on currency because we not currency expert, if you fucking got fever, don't eat Panadol, coz you not doctor ma.<br /><br />Your car knock don't conclude accident, coz you not mechanic kan?<br />Someone slap you, you don't retaliate.You not MMA fighter right?<br /><br />Common sense la cibai. It's called common sense.<br /><br />Don't need a qualification to comment on something if it affects you.You don't have a biology degree majoring in reproductive science but you know how to fuck, correct not?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-29507030.post-41273712215589265522015-08-14T15:14:15.737+08:002015-08-14T15:14:15.737+08:00gosh, we trade mostly in USD that is why most curr...gosh, we trade mostly in USD that is why most currency are measured against USD. i have a small business and my supplier is from china and indonesia, and all the transaction is in USD. not in renminbi or Rupiah. do you know how much it hurt my business when ringgit weaken against USD? operation cost jump from RM 32k to RM 40k. so, i increase my price, and now the client is making noise. so how? is it my fault the cost of operation increase? Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-29507030.post-56436806363335894852015-08-14T13:20:26.394+08:002015-08-14T13:20:26.394+08:00Some people are saying abt economic bubble burst. ...Some people are saying abt economic bubble burst. Yes I agree it does happen. But it's basic economy. When government is running budget deficit and when there is political instability sparked by world wide controversies, how can we be so optimistic that the RM will prosper?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-29507030.post-27815380594319456772015-08-14T12:37:19.331+08:002015-08-14T12:37:19.331+08:00I am in the USA now but spending RM here daily, th...I am in the USA now but spending RM here daily, the RM is dropping since last year September until today!!! It is dropping every day, is that crazy, what's wrong with our RM!!? Because of all the unstable political situation, corruption and so on. If we don't blame the government then blame who??? You???<br /><br />You were analyzing the the currency between countries and assume that Malaysia is safe even our currency falls because we don't buy goods direct from America. But friend, let me tell you, all international trade is dealing with US$ even we our goods are 20% imported from Japan, India and so on. US$ is a international trade currency, even if you buy goods from China, you assume China will deal with us in RM!!?<br /><br />Your view is too shallow in this topic, if you really know some knowledge of it...you will like us, feel very scary with the current situation of our Malaysia currency. Anonymoushttps://www.blogger.com/profile/12393828715027790993noreply@blogger.comtag:blogger.com,1999:blog-29507030.post-61599899184738662452015-08-14T03:35:44.760+08:002015-08-14T03:35:44.760+08:00You dont even know economy. You the one who were b...You dont even know economy. You the one who were being a keyboard warrior.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-29507030.post-21876471582255136432015-08-14T00:06:07.989+08:002015-08-14T00:06:07.989+08:00Guys, yes some of us affected by the MYR dropped a...Guys, yes some of us affected by the MYR dropped against USD. Yes our Government could do better (perhaps). But you have to face reality. Its not our nation affected only. USD is stronger and we were not like Singapore whose depending much on US. Then stop spreading your selfishness.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-29507030.post-75133240171368179872015-08-13T18:24:46.260+08:002015-08-13T18:24:46.260+08:00Dear Mr. Goh,
I'm grateful you pointed out th...Dear Mr. Goh,<br /><br />I'm grateful you pointed out that Malaysia is not doing as bad as it was at 1998. I'm pretty sure no one would want that state of Malaysia.<br /><br />Please understand that people who are not affected don't give a shit about how MYR is performing. So before you decide to slam those people who you assumed to be unaffected by the performance of MYR, think again. <br /><br />I'm pretty sure you are good at economics. Simple market analysis will give you enough information that most, if not all Malaysian are affected by the increasing prices/cost in imported raw materials and goods. Put it simply for you, have a ringgit today which can purchase 10 candies, heck tomorrow you can only get 9 of them, and you say you are not affected? Maybe Richtards don't give a shit.<br /><br />Best regards,<br />Concerned citizenAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-29507030.post-37949030155246615102015-08-13T17:25:18.816+08:002015-08-13T17:25:18.816+08:00This article is meaningless and oh.. terribly writ...This article is meaningless and oh.. terribly written.<br />The fact is Ringgit is dropping and as compared with singapore and brunei, it is weakening day by day and this is the fact. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-29507030.post-58478994748952098292015-08-13T16:58:55.729+08:002015-08-13T16:58:55.729+08:001.Not only crude oil but also some other commoditi...1.Not only crude oil but also some other commodities such as rubber physical price, palm oil and ect. D current political situation is not giving major impact on d depreciation of ringgit today!<br />2.US is not only our trading partner. Our major trading partners For export r singapore (14%), china (13%), japan (11%), US (8%) and thailand (6%). our major trading partners for import are china (16%), singapore (12%), japan (9%), US (8%) and thailand (6%). 1) US top 5 trading partner for import n export. 2) even though 92% of our trading partners are not from US, but we still use USD in most of our international transaction. To date, These r the top 5 currency used as world payment USD (45%), EURO (28%), Pound (8%), yen (3%) and rmb (2%). I share u one real experiance dealing with international business in d real world. I had made a pyment to d singaporean n they JUST only accept USD!!! Not even Ringgit or Sing Dollar! One more thing, our openness index is recorded at 1.7 in 2014. Meaning, we r a small open economy which rely much on international trade to accumulate national wealth ( index value greater than 1).Can u imagine how shocked is our domestic economy when our Ringgit is suddenly depreciated? How can it harm our economy if our Ringgit keep on depreciating?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-29507030.post-57041797960353049122015-08-13T13:54:40.593+08:002015-08-13T13:54:40.593+08:00Yes, i do that most of the time.. So yeah im affec...Yes, i do that most of the time.. So yeah im affected..Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-29507030.post-10222953456702066142015-08-13T13:07:13.459+08:002015-08-13T13:07:13.459+08:00Thank you for this!! I'm about ready to lose m...Thank you for this!! I'm about ready to lose my heads when I see my friends slam the government and the government alone over the Ringgit-Dollar exchange rate. It's been a while since the bubble burst so economists have been expecting this and those who understands, knows. I suspect the Ringgit would go even lower.<br /><br />But all we ever read about nowadays is how we are "doomed" because of Najib.jsm269https://www.blogger.com/profile/11918804143476590981noreply@blogger.comtag:blogger.com,1999:blog-29507030.post-79890402200482886862015-08-13T12:03:28.231+08:002015-08-13T12:03:28.231+08:00I use USD for importing materials for my business ...I use USD for importing materials for my business and hell I care about other currencies.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-29507030.post-6055996372361832972015-08-13T11:00:58.390+08:002015-08-13T11:00:58.390+08:00To answer those question's you posted :
1. ...To answer those question's you posted :<br />1. Do you shop online from US websites? Yes I am and will always be, not just American stuff but also Taiwan and China, especially I.T related item's.<br /><br />2. Are you planning to fly over to US for a holiday? Unfortunately, YES ! I'm having a second thought's about spending my family vacation in San Diego, California now knowing this currency exchange rate is going to happen.<br /><br />3. Are you a Malaysian studying in the US? Fortunately, no ! I got my degree in I.T in some local University here in my hometown, but unfortunately though, I had planned to pursue my master's degree in Massachusetts, but now it seem's like that I had to veer my dream study's in America to Australia thanks to our P.M. Malaysia Boleh !<br /><br />4. Do you import goods to be resold in Malaysia? Depends on the situation since working in I.T field do require parts that are being made in America for instance Microsoft Office or Windows Operating System, plus networking technologies are being made possible by company such as Cisco and Juniper. But I do imports good from America to be resold here in Malaysia if that can answer your questions. <br /><br />5. Do you buy necessities and food from the US to use here? I'm a Muslim therefore food products must be from Halal source's. <br /><br />6. Do you at all use the US dollar in your daily life? Not me, but for my brothers and sisters who staying state side either studying or working there. <br /><br />So the real question is ? Don't we all affected either directly or indirectly to the Dollar Rise against Malaysian Ringgit ? That's the real question you should ask yourself.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-29507030.post-23832715483324236072015-08-13T10:50:25.760+08:002015-08-13T10:50:25.760+08:00Hopefully, the Malaysian government knows how to h...Hopefully, the Malaysian government knows how to helps its manufacturing industry to take advantage of this situation...Anonymoushttps://www.blogger.com/profile/12945462234398912686noreply@blogger.comtag:blogger.com,1999:blog-29507030.post-3547933604637894412015-08-13T10:49:07.633+08:002015-08-13T10:49:07.633+08:00Hopefully, Malaysian government knows how to use t...Hopefully, Malaysian government knows how to use this situation to helps their manufacturing industry...Anonymoushttps://www.blogger.com/profile/12945462234398912686noreply@blogger.comtag:blogger.com,1999:blog-29507030.post-3783025543948061152015-08-13T10:32:28.054+08:002015-08-13T10:32:28.054+08:00There you go the new economy expert.There you go the new economy expert.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-29507030.post-34369275902194311222015-08-13T09:48:49.586+08:002015-08-13T09:48:49.586+08:00You should take a look at performance past 1 or 2 ...You should take a look at performance past 1 or 2 years, instead of 5 yearsAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-29507030.post-38836271866904054552015-08-13T07:39:39.820+08:002015-08-13T07:39:39.820+08:00Why want to compare to non-dominant currencies lik...Why want to compare to non-dominant currencies like Rupiah and Rupees. Look at the big picture, these days it's all about Dollars and Pound Sterling. Its a fact, our ringgit is falling waay behind. I'm staying in the UK; hence feeling the agony.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-29507030.post-6489743062158411332015-08-13T03:52:16.958+08:002015-08-13T03:52:16.958+08:00sorry but what is the point of this article again?...sorry but what is the point of this article again? ringgit weakened against us dollar but it is still stable? and we are doing better than few other countries? so keep calm? najib scandal doesnt really affect the numbers? not even slight? although he could have done something? so dont blame/slam him because anuar did worse back in 1998? so what happened to the debt spike exponentially after najib taken over the throne compared to when anuar was finance minister? because i honestly think anuar did good back then despite the asian financial crisis. as an ordinary malaysian i cant think anyone can do worse than najib as finance minister. few hundreds billion debt, enlighten me whether economy "will not collapse" or "will collapse but just not yet"? if economy will collapse in time, then there is nothing wrong trying to be "economics"Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-29507030.post-80576852818066618532015-08-13T00:51:08.860+08:002015-08-13T00:51:08.860+08:00But most of the private companies are dealing with...But most of the private companies are dealing with foreign companies and using USD as their business payment arrangement. Higher rates, higher cost. Higher cost, less profits. Less profits or if there is a profit, what would happen to the employees? And i think that's what you didn't take into consideration.Anonymoushttps://www.blogger.com/profile/16841454009337956385noreply@blogger.comtag:blogger.com,1999:blog-29507030.post-21805265879651048232015-08-13T00:01:52.096+08:002015-08-13T00:01:52.096+08:00so now we trade oil in what currency? is it in Mal...so now we trade oil in what currency? is it in Malaysian ringgit? or japanese Yen? so what will happen if we buy a crude oil at price of 50usd/barrel? before this it only cost around 175ringgit/barrel(roughly), at this time it may cost 200ringgit/barrel. so does it will affect malaysian economy? I will say it does. ~~A 4 ringgit thought from a person who do not has any basic on economy studies. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-29507030.post-65147188147193651562015-08-12T22:38:28.295+08:002015-08-12T22:38:28.295+08:00Sure, our salary and transactions on dsiky basis ...Sure, our salary and transactions on dsiky basis in still in ringgit. But the reason why we worry that the while rate is getting higher hy each day is because it's still affecting us. Like a domino. <br /><br />Because Malaysia don't just produce goods to be used only within the country. <br /><br />Malaysia exports. And at the same time Malaysia imports. <br /><br />And these business is using a standard currency for rate exchange purposes, and that is USD, not Renminbi. <br /><br />If the rate gets higher, we have to pay more unnecessarily. It's a fact, because it's a domino effect that consumers have to pay the extra costs. Through GST and other taxes/hidden costs. <br /><br />And it's the reason why Thailand collapsed so badly during the last economic crash 98, as they float their currency and back it up to USD. <br /><br />Similar effect. <br /><br />And seems like there's any implication that anwar is the fault during the last economic crash as he was MOF at the time. While the fact was due to a number of big players short selling some big stocks, causing the county unable to keep up. And you guessed it, Soros join the bandwagon too, as he did to Britain, 1980.<br /><br />Hence the new policy regarding short selling for stocks. <br /><br />Not because MOF at the time. And in any case, Tun M and Tun Daim did their heroic attempts to fix the currency so that USD =RM3.80. Instead of RM4.70<br /><br />Well,did the current MOF do the same thing? Or just let the rate float away like into the river (of hell) and enjoying his RM2.6b donation? He is the only PM ever have made Malaysian debt worst. <br /><br />And the reason why this happens (and why we worry) is because FDI confidence to our country is dwindling. Have you seen reports of so many factories are closing, ppl are losing jobs, and not to mention the price of goods and crime rates skyrocketing? <br /><br />Do we have to only eat potatoes and cook nasi goreng GST on daily basis? Even diapers have GST. <br /><br />Please don't make superficial generalization saying we don't all travel abroad, shopping with usd dollars and yada yada yada. And when making conclusion, please consider unprivileged ppl that have to spare their hard earned cash just for GST.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-29507030.post-30299176291193395062015-08-12T21:11:04.985+08:002015-08-12T21:11:04.985+08:00Many of the imports are based on usd. Example, You...Many of the imports are based on usd. Example, You import from China? They trade on usd.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-29507030.post-12142100816781995332015-08-12T21:06:29.451+08:002015-08-12T21:06:29.451+08:00As a matter of fact, I do shop from US websites si...As a matter of fact, I do shop from US websites since a lot of products I use and want aren't available in the country, so yeah it does affect me. Anonymoushttps://www.blogger.com/profile/06547360278374632858noreply@blogger.com