anson8222Shocked by BNM's ringgit conversion move, rubber exporters appeal for "RESCINDMENT" Read More : http://www.nst.com.my/news/2016/12/194991/shocked-bnms-ringgit-conversion-move-rubber-exporters-appeal-rescindment
Jenn00Price drop so much... guys what do you think? Hold or buy more at this moment?
anson8222@Jenn00, have to try ur luck. Anyway, Wa"BUY"di yesterday.
SephyIn making specific reference to the Malaysian Rubber Glove Manufacturer Association’s (Margma) call for an exemption from having to convert 75% of its export earnings to ringgit, he said BNM has already provided exporters to hold higher balances (with the central bank’s approval) to meet their obligations in foreign currency.
“Thus the request by Margma to reduce the conversion of foreign currency proceeds into ringgit from 75% to 50% is already addressed by BNM including the double conversion concern,” said Abdul Rahman in a statement yesterday.
anson82222017-0102: The Malaysian Rubber Glove Manufacturers Association (MARGMA) has requested that the Home Ministry review the Employer Mandatory Commitment (EMC) ruling, which took effect yesterday, mandating that employers pay their foreign workers’ levy.
A couple of days ago, Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi announced that employers will henceforth be responsible for paying the levy for their foreign workers.
Zahid, who is also home minister, said employers will no longer be allowed to deduct from the wages of their foreign workers to pay the levy under the EMC.
“This is all too sudden, and is detrimental to medical device manufacturers who are already having to bear mounting production costs,” said MARGMA president Denis Low Jau Foo.
“The cumulative effect of the levy is a very hefty amount. We appeal to the government to nurture manufacturers to improve on the country's exports because we are facing acute competition from neighbours,” he told the New Straits Times.