Blog: BNM sees concerning trend of increasing foreign currency holdings among Malaysian companies

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2 comment(s). Last comment by speakup 1 month ago

arv18

2,645 posts

Posted by arv18 > 1 month ago | Report Abuse

That is a natural and logical reaction to a collapsing ringgit. Good business sense. It also means your you reduce your ringgit cost base (salaries especially). Fantastic.

Clearly the govt knows this is also loves the depreciating MYR as it reduces ringgit denominated civil service emoluments and pensions. This is how Malaysia plans on solving the revenue gap without increasing the tax base.

speakup

25,165 posts

Posted by speakup > 1 month ago | Report Abuse

why should companies hold Ringgit which is turning in to toilet paper?

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