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
Coming to 2 years since the new Johor Bahru CIQ has opened, our inquisitive team at Limsimi wanders about Jalan Wong Ah Fook to recapture some of the current images and compare it against the past.
Here’s to a nostalgic past!
BEFORE: Long queues of Taxis and Cigarette Sellers just outside the old CIQ
AFTER: Deserted, this stretch of road is almost void of activities
BEFORE - Lively crowd at the Underpass just outside the old CIQ
AFTER - Sealed! You can no longer use the underpass.
In addition to that, small businesses within the direct vicinity of the Johor Bahru CIQ were affected Read on…
August 8th, 2010
If you are a frequent visitor to Johor Bahru and the pages in your Singapore passport is running out, don’t fret. If you are fed up of filling white cards every time your visit Johor Bahru, do not be frustrated.
In line with supporting the economic development of Iskandar Malaysia, Malaysia Automated Clearance System (MACS) was developed to fast-track immigration clearance, as long as your are eligible.
What this means is simply:
YOU DO NOT NEED TO FILL UP WHITE CARD FOR EVERY JOHOR BAHRU VISIT ANYMORE.
If you are traveling by bus to Johor Bahru, you simply join the queue with all Malaysians at the auto-gate clearance (fast!). If you are driving, even the custom officer at the booth will smile at your as he does not need to even stamp your passport. He simply scans your entry into the system.
MACS Application Form
Eligibility
1. You must be a Singapore Citizen in possession of Read on…
July 25th, 2010
