Panelize exporters who purposely devalue ringgit!

Posted by FortuneBull777 > 2023-07-03 16:29 | Report Abuse

Investment!

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10 comment(s). Last comment by DickyMe 2023-07-05 14:15

FortuneBull777

1,151 posts

Posted by FortuneBull777 > 2023-07-03 16:31 | Report Abuse

So it seems, one of the many culprit for weak ringgit is our very own exporters! After receiving payments in US dollar, they don't report it back! Instead they squat it overseas hence affected ringgit true value!
This is an act of treason!
Go after them!

stockraider

31,556 posts

Posted by stockraider > 2023-07-04 13:35 | Report Abuse

Why punish the exporters leh ?
They have not broken any law mah!

U must come up woth a proper policy like below loh!

Need to do this loh!

Must Start to come up with good policy to encourage fdi inflows loh!

Start encouraging inbound tourisn & exports loh!

Must discourage msian outbound tourism to avoid out forex outflow loh!

Get EPF, khazanah, PNB to sell foreign investment and bring back to msia loh!

Get exporters to convert at least 50% of its foreign proceeds back to ringgit mah!

Must discourage heavy capital consumption like cars, start imposing high imports tax on cars & luxury items loh!

TrippleZ

1,563 posts

Posted by TrippleZ > 2023-07-04 14:16 | Report Abuse

Punish exporters only further chasing out investors away. It would only worsen the situation.

ahbah

6,059 posts

Posted by ahbah > 2023-07-04 14:46 | Report Abuse

Who control the valuation of our RM ? The exporters ?

Sslee

4,734 posts

Posted by Sslee > 2023-07-04 15:37 | Report Abuse

It is George Soro fault.

Someone do not know currency trading is few hundred time bigger than the actual international physical good trade (currency exhange) needed.

Junichiro

2,036 posts

Posted by Junichiro > 2023-07-04 15:53 | Report Abuse

According to BNM rules, exporters has to convert their forex to MYR within 5 months of receipt in M'sia unless the USD is still in overseas banks.

Junichiro

2,036 posts

Posted by Junichiro > 2023-07-04 15:53 | Report Abuse

sori, within 6 months

llucklinn

1 posts

Posted by llucklinn > 2023-07-04 17:31 | Report Abuse

This was a very well-researched article with plenty of statistics and data to support its claims.

DickyMe

14,360 posts

Posted by DickyMe > 2023-07-05 14:14 | Report Abuse

Stop employing foreign workers.
They are one of the source for weak ringgit when they send money back home.
If employ Malaysian, money circulate inside country.

DickyMe

14,360 posts

Posted by DickyMe > 2023-07-05 14:15 | Report Abuse

I thought it was penalise. Did the woke culture change it to panelize?

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