Posts filed under 'Business and Investment'
In a move welcomed by investors, Bank Negara (Malaysian Central Bank) liberalised the foreign exchange administration rules on the Malaysian Ringgit.
Liberalisation on trading of the Malaysian Ringgit means that Malaysian companies, or companies with dealings in Malaysia, would be able to hedge against fluctuations in the Ringgit freely. In the overall scheme of things, this means that:
1. It is now less risky to do business in/out of Malaysia, leading to:
2. Increased demand for the Malaysian Ringgit, leading to:
3. Appreciation of the Malaysian Ringgit.
Malaysian Ringgit against the Singapore Dollar
On 19th Aug 2010, the Ringgit to soar to its highest level against the US Dollar in a whooping 13 years, buoyed by expectation that global investors would shift the allocation of capital into Malaysia.
Nothing much for the average Singaporean to worry about as the exchange rate between the Singapore Dollar and the Malaysian Ringgit still holds at about 1 Singapore Dollar = 2.31 Malaysian Ringgit. However, if you have an outstanding mortgage on a property in Johor Bahru, or Read on…
August 21st, 2010
“I brought 100 dollars to Johor Bahru, spent on food, drinks, petrol and shopping and at the end of the day, still brought 100 dollars back to Singapore”
The common metaphor above is probably true, if you consider the latter 100 dollars as 100 ringgit instead. With the current exchange rate of 1 Sing $ = 2.32 Malaysian Ringgit, Singaporeans can well afford to spend in Johor Bahru, and still keep the change.
First thing first – converting your Singapore Dollars into Malaysian Ringgit.
To one whom had roamed Johor Bahru well enough, the common observation is that almost ALL the money changers (or Tukar Wang) in display the same exchange rate, in either white or yellow background with red fonts. This seem to make the process of converting your Singaporean dollars (containing the face of former president Yusof Bin Ishak) into Malaysian Ringgit (containing the face of Malaysia’s first Prime Minister, Tuanku Abdul Rahman) easy, since you do not really have to hunt for the money changer with the best rates.
Money Changer in Johor Bahru
In the rest of our post below, we adopt a Q&A approach to address some of the most common queries regarding Money Changers in Johor Bahru.
Q: Is the rates at Johor Bahru better than Woodlands/Singapore?
A: General consensus is that the rates in Johor Bahru are Read on…
July 31st, 2010
In a historic move, Singapore and Malaysia have agreed to series of measures to further improve upon bilateral relations. In the spirit of enhancing ties towards a win-win situation, Prime Minister Lee Hsien Loong and Prime Minister Dato’ Sri Mohd Najib Tun Abdul Razak issued a joint statement on 24th May 2010 on an exciting list of initiatives which will bode well into the future for both Singaporeans and Malaysians.
Measure #1: Keretapi Tanah Melayu Berhad (KTMB) station will be relocated from Tanjong Pagar to the Woodlands Train Checkpoint (WTCP) by 1 July 2011.
Why this will work out:
i. The land KTMB is currently sitting on at Tanjong Pagar is at a prime district, just kilometers away from Singapore’s Central Business District (CBD). Relocation of KTMB will release the land around it for residential or office space development, and the proceeds will be shared by both Singapore and Malaysia. Value of the land is unlocked.
ii. Relocating KTMB to Singapore reduces maintenance cost for maintenance of railway track from Tanjong Pagar to Singapore and more importantly, area around the track (some 20km of them!) can also be developed.
iii. Less fatalities for Singaporeans who like to jay-walk across the track.
Measure #2: Introduction of 8 new bus routes, effectively doubling the number of bus services plying Singapore and Johor Bahru. Cross-border scheduled bus services will be doubled with the introduction of 8 new additional routes (4 from each side) between Pasar Bakti and Larkin in Johor and the two Integrated Resorts, Boon Lay, Yishun, Newton and Changi Airport in Singapore
Why this will work out:
i. Increased trade and tourism. For example: Singapore’s Integrated Resort will be able to draw more visitors while this means easier access to Iskandar Malaysia region to Singaporeans.
ii. You might finally be able to get a seat on SBS 170 or TIBS 950.
iii. Travel to Johor Bahru will no longer just be an exclusive past-time for Woodlanders.
Bad causeway jam - soon a thing of the past?
Measure #3: Cross border taxi services will be liberalised with taxis being allowed to pick up and drop off passengers from any location on the domestic leg of that journey, instead of only at the designated taxi terminals
Why this will work out:
i. You can finally drop off at Yishun or Tampines (instead of Queens Street Read on…
May 25th, 2010
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