Chitchat Moslem Ringgit Becoming Banana Money. Dropped by 10% Recently! Mad Hatter To Convene Emergency Meeting!

[JohnTan]

KUALA LUMPUR: Malaysia's government will discuss a depreciation of the ringgit that is making imports more expensive and raising living costs, Prime Minister Mahathir Mohamad said on Saturday (Nov 30), addressing one of the biggest criticisms of his administration.

The Malaysian ringgit fell for a third straight week this week.

"Previously, our currency was quoted at 3.80 against the US dollar, but now it is at 4.20. Due to our currency's value, everything that we buy has become more expensive," Mahathir told reporters when asked about high cost of basic necessities.

"This is one of the reasons. We will discuss this problem in the government."

The 94-year leader, who took office in May 2018 after unexpectedly winning a general election, said last week he was considering a cabinet reshuffle after the ruling coalition badly lost a by-election hit by voter discontentment over issues such as high living costs and the economy.

Southeast Asia's third-largest economy grew at its weakest pace in a year in the third quarter, hit by sharp falls in exports and mining.


Read more at https://www.channelnewsasia.com/news/asia/malaysia-mahathir-ringgit-fall-import-costs-12140838

 

[mojito]

Good what. It mean Malaysians here get a well deserved raise!

 

[whoami]

Good what. It mean Malaysians here get a well deserved raise!

Also mean more bridges to be built. More jiuhukias working in sinkieland. More cheapskate sinkies queueing at JB mall. More jam at causeway.

 

[laksaboy]

They have cheaper exports now. Malaysia produces a lot of products. Sinkieland's exports will take a hit.

 

[Hypocrite-The]

I hope as a double whammy singkieland starts cutting down and putting more restrictions on mudlanders working in singkieland. It's high time these economic parasites stop stealing singkies economic pie.

 

[syed putra]

They have cheaper exports now. Malaysia produces a lot of products. Sinkieland's exports will take a hit.

This is only temporary. Cheap products can only come with greater efficiency. In south east asia, nobody can challenge dominance of singapore as a logistic hub. The further the place is from singapore, the more expensive the vost of import and export is going to be.

 

[Xisiqomelir]

4.20

HEYO

 

[Rogue Trader]

Why didn't they depreciate the RM during durian season??

 

[Leckmichamarsch]

7aPOOtra spouted camel shit...erh poo

 

[JurongEast]

malaysia ringgit is quite strong against sgd. it used to be 3.8 but now it is 3

 

[Hypocrite-The]

malaysia ringgit is quite strong against sgd. it used to be 3.8 but now it is 3

So where is the ringgit weakening ?

 

[sweetiepie]

KNN wahahaha KNN @ginfreely must be scratching her cb KNN

 

[winnipegjets]

If I were a mudlander, I wouldn't worry. Just buy local, all will be fine.

 

[shittypore]

I hope as a double whammy singkieland starts cutting down and putting more restrictions on mudlanders working in singkieland. It's high time these economic parasites stop stealing singkies economic pie.

We have NTUC to look after Sinkies interest, I hope!

 

[ChristJohnny]

There are no low IQ country that is advance and progressive. NONE. Please show me one ... somebody.

IQ and Race

 

[syed putra]

malaysia ringgit is quite strong against sgd. it used to be 3.8 but now it is 3

When was it at 3.8? I think it was RM3.3 to S$1. RM dropping against usd. Thanks to Trump.

 

[mudhatter]

really a bunch of moron slit eyed pork eating chinks

https://www.nst.com.my/business/2019/06/495214/approved-investments-31pc-rm539-billion-first-quarter

Approved investments up by 3.1pc to RM53.9 billion in first quarter

Malaysia attracted RM53.9 billion in approved investments in the manufacturing, services and primary sectors in the first quarter of this year (Q1 2019), an increase of 3.1 per cent from RM52.3 billion recorded in the same period last year. Pic by NSTP/OSMAN ADNAN
By Bernama - June 10, 2019 @ 5:00pm

KUALA LUMPUR: Malaysia attracted RM53.9 billion in approved investments in the manufacturing, services and primary sectors in the first quarter of this year (Q1 2019), an increase of 3.1 per cent from RM52.3 billion recorded in the same period last year.

The Malaysian Investment Development Authority (Mida) said the positive investment growth in Q1 2019 was mainly driven by the robust performance of the manufacturing sector which had soared by 126.8 per cent compared with Q1 2018.

“Foreign investments increased by 73.4 per cent to RM29.3 billion from RM16.9 billion in Q1 2018.

“Domestic investments approved in Q1 2019 amounted to RM24.6 billion, contributing 45.6 per cent to the total,” it said in a statement today.

It added that the investments approved in the January to March 2019 period were for 1,678 projects, and were expected to generate more than 41,200 job opportunities.

“The manufacturing sector accounted for the largest share of total potential employment in the economy with 22,970 job opportunities or 55.7 per cent, followed by the services sector with 18,000 job opportunities (43.7 per cent) and primary sector with 240 employment opportunities (0.6 per cent),” it said.

Mida said the jobs created included positions for 1,590 electrical and electronics engineers, 710 mechanical engineers and 180 chemical engineers.

In addition, the approved manufacturing projects will also require about 1,710 skilled craftsmen such as plant maintenance supervisors, tools and die makers, machinists, information technology personnel, quality controllers, electricians and welders.

Two notable investments from the United States were projects from Micron Technology and Jabil Circuit, which will be expanding their manufacturing operations in Penang, while an investment from China was by XSD International Paper, which is projected to drive the development of papermaking activities in the region with its proposed investment of RM2.3 billion.
“These approved projects are expected to generate strong multiplier effects, which include the growth of domestic companies or engineering supporting industries, cluster development, local sourcing, strengthening of research and development activities and human capital development,” it said.

As for the country breakdown for approved foreign investment in the manufacturing sector, the US contributed RM11.5 billion, China RM4.4 billion, Singapore RM2.2 billion, Japan 0.6 billion, and the British Virgin Islands RM0.5 billion.

Mida added that the services sector had attracted the largest portion of approved investments involving 1,445 approved projects with investments worth RM26.1 billion.

The bulk of the investments were from domestic sources, which contributed RM18.0 billion or 69 per cent of the total approved investments, while foreign sources contributed RM8.1 billion or 31 per cent.

“The five main sub-sectors with the highest total investment were real estate (RM11.0 billion or 42.3 per cent), followed by distributive trade (RM8.2 billion or 31.6 per cent), utility (RM4.0 billion or 15.4 per cent), hotel and tourism (RM1.8 billion or 7.0 per cent) and support services (RM550.9 million or 2.1 per cent),” it said.

Meanwhile, the primary sector contributed RM2.4 billion or 4.5 per cent to the total approved investments in Q1 2019, with the majority of investments coming from domestic sources (RM1.4 billion or 58.3 per cent), while foreign investment amounted to RM1.0 billion or 41.7 per cent.

“The mining sub-sector, dominated by the oil and gas exploration activities, led with approved investments of RM2.2 billion or 91.7 per cent, followed by plantation and commodities with RM140.0 million and agriculture sub-sector with RM43.5 million,” it said. - BERNAMA

 

[bushtucker]

When was it at 3.8? I think it was RM3.3 to S$1. RM dropping against usd. Thanks to Trump.

I think he meant usd.

Anyway today's exchange rate is sgd1=myr3.05

 

[winnipegjets]

I am all in Ringgit.

 

[Victory2016]

There are no low IQ country that is advance and progressive. NONE. Please show me one ... somebody.

IQ and Race
View attachment 68464

Australia? 62 nia - must be the Abos la