Singdollar rises strongly against Malaysian ringgit

[princess_morbucks]

http://www.straitstimes.com/breaking...nggit-20140124

The Singapore dollar has risen strongly against the Malaysian ringgit to a four-month high, in a boon for locals travelling or shopping across the Causeway.
In the last two weeks alone, the Singdollar has surged about 1.1 per cent to RM2.6054 yesterday, from RM2.5767.
Since May 22 last year, the local currency has gained a hefty 8.8 per cent against the ringgit.
However, shoppers will not be able to obtain quite the current money-market rate of RM2.6054 at money changers, who add their own margin to make a living.

[princess_morbucks]

The great rush for ringgit

http://news.asiaone.com/news/singapo...t-rush-ringgit

The Malaysian ringgit has tumbled to its lowest level against the Singapore dollar in recent history, triggering a surge in customers at money changers yesterday.

The exchange rate stands at RM2.60 to S$1, compared with RM2.45 back in 1998 and last year's 15-year low of RM2.55.

Some money changers have already run out of ringgit, as customers stock up on the currency just in time for some Chinese New Year shopping across the Causeway.

A check by MyPaper yesterday found that money changers were offering a rate of RM2.57 for every S$1. This is better than the usual rate of RM2.52 that public-relations executive Hazel Joanne gets when she changes money to give to her parents, who live in Johor Baru.

"If this good rate continues, I'll be able to keep them comfortable without as much of a dent to my pocket," she said.

Ms Sarah Lim, a senior retail-management lecturer at Singapore Polytechnic, said the favourable exchange rates would entice more Singapore residents to do their New Year shopping in Malaysia.

She explained: "The prices of services and merchandise are going to be much lower, making them more attractive and worthwhile."

CIMB economist Song Seng Wun said the weak ringgit can be attributed to a firmer US dollar, and the fact that the Sing dollar did not weaken as much.

He added that if the strong US dollar continues, the ringgit is likely to decline further.

[princess_morbucks]

As of now 1SGD = 2.62 MYR

[princess_morbucks]

It is good for people who are paying monthly installment for their Malaysian properties.

[star]

S$1=RM$2.65 coming soon.

[VS]

It is good for people who are paying monthly installment for their Malaysian properties.

Those collecting rentals from their Malaysian properties will be sad.

[teddybear]

High chance RM goes down more when US$ goes up, is S$1=RM2.80 in the cart?........................

S$1=RM$2.65 coming soon.

[leesg123]

Those collecting rentals from their Malaysian properties will be sad.

Not really leh. Reasons:
1) Most people rental income is used to repay the mortgage so it is not converted back to sgd. So sgd strong got no effect.

2) Economics will balance thing. Sgd strengthen, those selling to foreigners will also up the price in RM. Seller not stupid one. E.g. last year i list my condo for sale at rm 500k equal to about sgd200k last year. 1sgd=rm2.5
Now for the same unit I will markup to at least rm520k also equal to current sgd200k.

[minority]

well if interest rates raise in MY. then won't be so happy. if collecting rent to cover.

[phantom_opera]

High chance RM goes down more when US$ goes up, is S$1=RM2.80 in the cart?........................

80% probability already

[hyenergix]

80% probability already

The jam at 1st and 2nd links will get a lot worse if RM is so cheap.

More Singaporeans opting for reunion dinners in JB
Published: Thursday January 23, 2014 MYT 12:00:00 AM

JOHOR BARU: More Singaporeans are taking advantage of the attractive exchange rates and celebrating with their loved ones at Chinese restaurants here this year.

Checks by The Star revealed that an average Chinese New Year eight-course meal for 10 in Singapore was more than twice the price of a similar meal in Johor Baru.

An average eight-course meal for a table of 10 at Chinese restaurants in Singapore costs between S$530 (RM1,380) and S$2,988 (RM7,777) while in Johor Baru it was between RM789 and RM2,088.

M Suite Hotel general manager Dev Singh said the hotel’s Ming Court Chinese restaurant was almost fully booked.

“We can see a 15% increase in bookings from Singaporeans this year compared to last year,” he said.

Mutiara Hotel’s Meisan Szechuan restaurant assistant supervisor Joanne Chan said the restaurant had to split into two sessions to meet demands for Chinese New Year eve. Both sessions were also almost fully booked.

The Wan Li restaurant at Renais*sance Hotel here had also been receiving similar response.

The restaurant’s manager Ng Shen-ynn said the restaurant also had to split into two sessions to accommodate the crowd.

http://www.thestar.com.my/News/Natio...dinners-in-JB/

[leesg123]

well if interest rates raise in MY. then won't be so happy. if collecting rent to cover.

True, so depend on entry point lor. But good thing over there in MY is that they have fixed mortgage interest for 30yrs. About 5.x%

[teddybear]

And those people who live in JB and work in Singapore will suffer more.........
Not to mention US$ up, Fed rate up, housing loan rate up..................

The jam at 1st and 2nd links will get a lot worse if RM is so cheap.

More Singaporeans opting for reunion dinners in JB
Published: Thursday January 23, 2014 MYT 12:00:00 AM

JOHOR BARU: More Singaporeans are taking advantage of the attractive exchange rates and celebrating with their loved ones at Chinese restaurants here this year.

Checks by The Star revealed that an average Chinese New Year eight-course meal for 10 in Singapore was more than twice the price of a similar meal in Johor Baru.

An average eight-course meal for a table of 10 at Chinese restaurants in Singapore costs between S$530 (RM1,380) and S$2,988 (RM7,777) while in Johor Baru it was between RM789 and RM2,088.

M Suite Hotel general manager Dev Singh said the hotel’s Ming Court Chinese restaurant was almost fully booked.

“We can see a 15% increase in bookings from Singaporeans this year compared to last year,” he said.

Mutiara Hotel’s Meisan Szechuan restaurant assistant supervisor Joanne Chan said the restaurant had to split into two sessions to meet demands for Chinese New Year eve. Both sessions were also almost fully booked.

The Wan Li restaurant at Renais*sance Hotel here had also been receiving similar response.

The restaurant’s manager Ng Shen-ynn said the restaurant also had to split into two sessions to accommodate the crowd.

http://www.thestar.com.my/News/Natio...dinners-in-JB/

[leesg123]

And those people who live in JB and work in Singapore will suffer more.........
Not to mention US$ up, Fed rate up, housing loan rate up..................

http://www.ingmalaysia.com/index.htm

In malaysia they have fixed rate 4.85% throughout whole tenure. Current typical rate is 4.2%

So they have less to worry compared to us.

[DC33_2008]

3 staff in my department will be very happy as they are malaysians working in Singapore but staying in Malaysia.

And those people who live in JB and work in Singapore will suffer more.........
Not to mention US$ up, Fed rate up, housing loan rate up..................

[teddybear]

They will be very happy to be stuck for an extra 1 hour or more in travelling time 2 ways every day?

3 staff in my department will be very happy as they are malaysians working in Singapore but staying in Malaysia.

[teddybear]

Worry for Singaporeans who buy Malaysia properties but loan in S$..... Their property depreciating in RM value vs S$ but their costs fixed and interest rate goes up.......................

http://www.ingmalaysia.com/index.htm

In malaysia they have fixed rate 4.85% throughout whole tenure. Current typical rate is 4.2%

So they have less to worry compared to us.

[DC33_2008]

They are doing it daily.

They will be very happy to be stuck for an extra 1 hour or more in travelling time 2 ways every day?

[leesg123]

Worry for Singaporeans who buy Malaysia properties but loan in S$..... Their property depreciating in RM value vs S$ but their costs fixed and interest rate goes up.......................

No need worry. Property is a hedge against depreciating currency too. Prices in malaysia also rises. Look at Indonesia too. See how the rupiah has depreciated over the years, see how the property prices has climbed too.

[princess_morbucks]

http://www.straitstimes.com/breaking...ollar-20140207

The Malaysian ringgit has hit a fresh record low against the Singapore dollar as several regional currencies continue to stay weak.
Just three days after softening to an all-time low of RM2.622 against the Singdollar last Thursday, the ringgit fell further to RM2.624 at the start of this week.
It was hovering around RM2.6207 yesterday.
The ringgit's persistent weakness is not so much due to the Singdollar gaining strength, but rather a massive outflow of capital from emerging markets back to developed markets, experts say.

[teddybear]

Different lah.
Indonesia land size 1811,000 km2 while Malaysia is 329,000 km2 or 5.5x.
Indonesia population 250m is while Malaysia is 30m or 8.33x !!!
Indonesia with population density of 138 people/km2 so MUCH MUCH MORE DENSELY POPULATED than Malaysia of 91.18 people/km2 ! Obviously Indonesia land more valuable!

But heh, Singapore population is 5.4m and land only 687 km2 for a population density of 7860.26 people/km2 !!! Singapore's land is worth more than GOLD!!!

No need worry. Property is a hedge against depreciating currency too. Prices in malaysia also rises. Look at Indonesia too. See how the rupiah has depreciated over the years, see how the property prices has climbed too.

[eng81157]

What capital outflow?? ALL WRONG!!!
Ringgit is dropping cos' price of Kang Kong is spiking and causing super-duper-hyperinflation

[minority]

http://www.ingmalaysia.com/index.htm

In malaysia they have fixed rate 4.85% throughout whole tenure. Current typical rate is 4.2%

So they have less to worry compared to us.

Why? Even if our rates goes up will be ard 3%. When that happen I will also expect Malaysia inflation to catch up too. Int might be fixed. But other cost will go up.

[princess_morbucks]

Today it is SGD $1 to MYR 2.63!

[eng81157]

Today it is SGD $1 to MYR 2.63!

cos najip buckling under populist (or crony) pressure and not raising toll fees to generate more taxes

when the country goes bust, ringgit sure BOOMZZZ!!!! pity those SG brothers and sisters who invested in the iz-scammm-dah dream

[teddybear]

S$1 to RM3.0 coming?

cos najip buckling under populist (or crony) pressure and not raising toll fees to generate more taxes

when the country goes bust, ringgit sure BOOMZZZ!!!! pity those SG brothers and sisters who invested in the iz-scammm-dah dream

[eng81157]

S$1 to RM3.0 coming?

i think if najip don't do something to bolster taxes, it will soon breach the RM2.7 mark. RM3 is a little far and i doubt they would want to risk a perfect storm of declining ringgit value, govt coffers, FDI decline, rising interest rates, above average inflation

[phantom_opera]

land price in Malaysia will go up big time soon

[eng81157]

land price in Malaysia will go up big time soon

i think taxes, for foreigners and business entities, will go up big time soon. land price hikes will hurt the economy more in the mid-long term.

[hyenergix]

It will be very interesting if SGD $1 = MYR $2.7. Consumers who spend in Malaysia and Malaysia property owners (who loan in MYR) from Singapore will benefit.