Malaysian Bank Account

[Forvendet]

My wife's friend recently introduced to her a bank account in Standard Chartered Malaysia. No chequebook, no passbook (monthly statement, phone and internet banking), no mininum opening balance, no minimum mantainence balance and no service charge. It comes with an ATM/debit card (MasterCard) free too (not free if you opt for credit MasterCard). My wife's thinking, let's open an account and keep one or two thousand RM there and it'd more convenient and cheaper for us when traveling and shopping in Malaysia. Using moneychangers and Singapore credit cards there always incur exchange rate disadvantages and service charges.

 

[jw5]

So how do u and your fictitious/imaginary wife plan to get the initial 1 or 2 thousand RM, if not through money changers?

And how do u plan to top up the account when it runs out if not through money changers?

 

[Forvendet]

So how do u and your fictitious/imaginary wife plan to get the initial 1 or 2 thousand RM, if not through money changers?

And how do u plan to top up the account when it runs out if not through money changers?

I still don't understand why you think I'm living a "fictitious/imaginary" life. I'll just address comments and questions relevant to the topic anyway.

We have a few hundred RM left from previous trips; that was exchanged from moneychangers of course. And that of course, is pocket cash that we don't intend to bank in. Opening a foreign account with a few hundred (<500) is again silly of course. That's why at least a few thousand to begin with is comtemplated. The account bears interest anyway, and of course can be funded and topped up with post office money order costing a few dollars only including commission and postage.

 

[groober2011]

Thank you for the info. I have some extra RM which can be put into the account. Will check it out.

 

[johnny333]

For a Sporean a Malaysian account can be very useful.

I have Malaysian shares which I bought through a Spore broker way back during the CLOB era & whenever I sell my shares, my Spore broker will ask if I want ringgit or Spore $. As I don't have a malaysian bank account I have to tell him in Spore$ even though the exchange rate is not favourable. You also have to pay gst whenever the shares give out a dividen

I heard that Maybank will let you open a malaysian bank account if you use their brokerage services to trade Malaysian shares. If I decide to continue trading Malaysian shares I will use them. It's cheaper than using a Spore broker as a middle man. Spore businesses are uncompetitive because they charge all kinds of fees e.g. holding fee, gst, etc

 

[jw5]

I still don't understand why you think I'm living a "fictitious/imaginary" life. I'll just address comments and questions relevant to the topic anyway.

That's because you Forvendet, used to use the nickname RAMSETH.

You obviously didn't read the post where I told you the problem was in the deception, not in the new nickname or the content of your posts.
Or perhaps you read it and didn't understand, or you read and understood, but didn't give a hoot.

Your writing style is unmistakable, especially when you are trying to show off what you know about something or someone. It is almost grating, especially from someone who has concocted a fake bullshit persona for himself.
This forum has a history of people not revealing much about themselves and nobody minds and continues discussing anyway. There was actually no need to create a fake persona with a new nickname, other than for your own amusement of course.

Everytime u have a post which contains the deception, I will highlight this.

 

[standbybed69]

For a Sporean a Malaysian account can be very useful.

I have Malaysian shares which I bought through a Spore broker way back during the CLOB era & whenever I sell my shares, my Spore broker will ask if I want ringgit or Spore $. As I don't have a malaysian bank account I have to tell him in Spore$ even though the exchange rate is not favourable. You also have to pay gst whenever the shares give out a dividen

I heard that Maybank will let you open a malaysian bank account if you use their brokerage services to trade Malaysian shares. If I decide to continue trading Malaysian shares I will use them. It's cheaper than using a Spore broker as a middle man. Spore businesses are uncompetitive because they charge all kinds of fees e.g. holding fee, gst, etc

Fyi i hv transfered my CLOB shares to Maybank Malaysia for many yrs now. No custodian charges n cheaper comms. Comes with a bank acct n u gets 3% for term deposits. Why trade with singapore brokers n exchange ?....all of them a bunch of ungrateful assholes who only know how to screw singaporeans onli

 

[johnny333]

Fyi i hv transfered my CLOB shares to Maybank Malaysia for many yrs now. No custodian charges n cheaper comms. Comes with a bank acct n u gets 3% for term deposits. Why trade with singapore brokers n exchange ?....all of them a bunch of ungrateful assholes who only know how to screw singaporeans onli

I guess I should have looked into transferring the shares much earlier & save myself some $$$$.:(

Did you go through your broker in Spore to do the transfer of the shares or did you just ask them for the certificates(shares) & then hand over to the the Malaysian broker

 

[Forvendet]

Your writing style is unmistakable, especially when you are trying to show off what you know about something or someone. It is almost grating, especially from someone who has concocted a fake bullshit persona for himself.
This forum has a history of people not revealing much about themselves and nobody minds and continues discussing anyway. There was actually no need to create a fake persona with a new nickname, other than for your own amusement of course.

Everytime u have a post which contains the deception, I will highlight this.

Pick up a newspaper and read it. The articles inside are probably written by more than twenty different reporters and contributors. All sound alike. Everyone who bothers to write in proper English sounds alike. Try telling which reporter wrote which article just by style without reading the reporters' names. It's the content that differentiates. Anyway, it's up to you to allege and let the forum be the jury, for amusement or otherwise. I have nothing to gain by any way of defence or deception. I'm just here for discussion of topics that I find interesting.

 

[Asshole]

wah so good idea... maybe i go make more shows first, and keep some malaysia dollars, they very nice people right? i go visit their shopping, all the handsome guys stare at me... i so shy... got many cheap goods in jb right? where can i open this malaysia bank account in any standard chartered in sg can already is it?

 

[Forvendet]

I guess I should have looked into transferring the shares much earlier & save myself some $$$$.:(

Did you go through your broker in Spore to do the transfer of the shares or did you just ask them for the certificates(shares) & then hand over to the the Malaysian broker

Malaysian shares traded in Singapore have also been converted to scripless after CLOB. That was the process by which many investors then got "clobbered." They're now held in a nominee MCD account by your Singapore broker. If you open a Malaysian trading account, I think that you'll also have to open a direct MCD account and link it. Then, you can instruct your Singapore broker to transfer your shares over, also scriplessly. You'll also most likely be charged a transfer fee.

 

[LeMans2011]

That's because you Forvendet, used to use the nickname RAMSETH.

You obviously didn't read the post where I told you the problem was in the deception, not in the new nickname or the content of your posts.
Or perhaps you read it and didn't understand, or you read and understood, but didn't give a hoot.

Your writing style is unmistakable, especially when you are trying to show off what you know about something or someone. It is almost grating, especially from someone who has concocted a fake bullshit persona for himself.
This forum has a history of people not revealing much about themselves and nobody minds and continues discussing anyway. There was actually no need to create a fake persona with a new nickname, other than for your own amusement of course.

Everytime u have a post which contains the deception, I will highlight this.

Is it?!! No wonder someone who cannot live without Sammyboy has suddenly disappeared. But seriously they don't sound alike.

 

[johnny333]

Then, you can instruct your Singapore broker to transfer your shares over, also scriplessly. You'll also most likely be charged a transfer fee.

Of course I can ask them to transfer to a Malaysian broker for a fee. However I wonder if I can do it myself & safe the bother of working via a Spore broker & save some $$$. Maybank has an office in JB & I would have to go to JB to open up a securities account anyway.

 

[Forvendet]

Of course I can ask them to transfer to a Malaysian broker for a fee. However I wonder if I can do it myself & safe the bother of working via a Spore broker & save some $$$. Maybank has an office in JB & I would have to go to JB to open up a securities account anyway.

I believe that if you instruct your Singapore broker to deliver to you the share scrips, the fee will be much more expensive than a scripless transfer fee. And it'd take much longer, as the scrips are in KL though traded through a Singapore broker, unlike CLOB days when the scrips traded in Singapore were actually in Singapore.

 

[bryanlim1972]

Pick up a newspaper and read it. The articles inside are probably written by more than twenty different reporters and contributors. All sound alike. Everyone who bothers to write in proper English sounds alike. Try telling which reporter wrote which article just by style without reading the reporters' names. It's the content that differentiates. Anyway, it's up to you to allege and let the forum be the jury, for amusement or otherwise. I have nothing to gain by any way of defence or deception. I'm just here for discussion of topics that I find interesting.

PWNED by JW5!

 

[jw5]

Pick up a newspaper and read it. The articles inside are probably written by more than twenty different reporters and contributors. All sound alike. Everyone who bothers to write in proper English sounds alike. Try telling which reporter wrote which article just by style without reading the reporters' names. It's the content that differentiates. Anyway, it's up to you to allege and let the forum be the jury, for amusement or otherwise. I have nothing to gain by any way of defence or deception. I'm just here for discussion of topics that I find interesting.

This is classic Ramseth rhetoric, especially the part about letting "the forum be the jury".
I'm willing to bet if someone bothers to go and look at Ramseth's old posts, there will be a similar comment there.

"Nothing to gain by any way of defence or deception" is also typical Ramseth writing style.
Your writing style is unique, of course, you can't be EXACTLY like Ramseth right? That would defeat whatever purpose you are trying to achieve.

But fair enough about being here for discussion of topics you find interesting. As long as there is no deception using the concocted fake bullshit persona, there's no problem.

 

[Forvendet]

OK. Let those who wish to assume I'm Ramseth assume so and let's move on. Doesn't hurt me a bit, and I harm no one a bit.

 

[Forvendet]

This is classic Ramseth rhetoric, especially the part about letting "the forum be the jury".
I'm willing to bet if someone bothers to go and look at Ramseth's old posts, there will be a similar comment there.

I've been here about 10 months. Ramseth, I don't know how many years. He disappeared for a couple of months and suddenly I become him. I'd welcome all the dig up past posts. I spent most of my earlier months here disagreeing with the evil twin buddies GMS and Ramseth. Enough said.

 

[standbybed69]

I guess I should have looked into transferring the shares much earlier & save myself some $$$$.:(

Did you go through your broker in Spore to do the transfer of the shares or did you just ask them for the certificates(shares) & then hand over to the the Malaysian broker

Go n open the Maybank trading acct/bank acct at JB first. After tat go to ur sin broker to effect the transfer. I trade online so far so good. As for the transfer out of ur funds (if u sell) so far no problem at all. Last x i parked them at the bank n gets 3.7% interest......every month go JB stayed at Hyatt + spa + shopping + dining etc. Why park ur funds with sin banks n gets screwed everyday ?

 

[johnny333]

Go n open the Maybank trading acct/bank acct at JB first. After tat go to ur sin broker to effect the transfer. I trade online so far so good. As for the transfer out of ur funds (if u sell) so far no problem at all. Last x i parked them at the bank n gets 3.7% interest......every month go JB stayed at Hyatt + spa + shopping + dining etc. Why park ur funds with sin banks n gets screwed everyday ?

I'm not actively trading Malaysian shares because I'm happy to hang-on to the shares because I'm getting good dividens. However with cheaper cost of internet trading I might get more active

Just came back from JB. The investment guy at the City Square branch wasn't in but I found out where the investment centre is:
Maybank Investment Centre
No. 10 & 12 Jalan Pingai, Taman Pelangi, JB.
Tel: 07-338-1139

I'll be going back to open an account in JB.
In this day & age with internet trading, it just doesn't make sense to use a live broker. There's no value added to using Spore broker. Each time I buy/sell Malaysian shares, I'm paying for the services of the Spore broker & his Malaysian counterpart. It just doesn't make $ense.

Same thing with investing in the US. Ever since I got an Etrade account I've stopped using a broker to buy/sell american stocks