Actually, I hope MYR to be strong too but if we look at our economy in detail, it is very hard for MYR to stay below RM4 against USD. In the budget, no currency peg is going to be implemented. Malaysian corruption is deteriorated and oil price is going downward so do you think Malaysian economy is getting stronger? MYR only will up further with the weakening of US economy. The MYR improvement can be the window dressing from our gov so we can't justify it now. Let's see how strong is MYR in the next few days.
Still got hope that MYR can back to 3.8 or even lower? haha? Personally think that it will not going to happen though. 3.8 MYR - 1 USD era already became history. Malaysia 75 % income is from O&G. Now oil price stay below 36USD. Plus, can someone provide valid reason how MYR can keep continue appreciate ? I would like to highlight Zeti is going to step down on this year, FED plan to increase the rate 3 times on this year. Some of you might think that China is going to hep us , perhaps? Yet , China is in trouble as well. China is preparing currency war with Soros and other hidden speculators which intend to make a huge money from YUAN currency. Dear all , who is going to save us ? :D
majority of Malaysia export is electronic, not crude oil. We are not commodities currency, with Malaysia maintain interest rate, there will be more demand of MYR
Ringgit leads Asia FX losses as oil slips again By Reuters / Reuters | February 2, 2016 : 2:15 PM MYT
SINGAPORE (Feb 2): Malaysia's ringgit led losses among emerging Asian currencies on Tuesday as crude oil prices resumed their slide and global manufacturing activity remained weak, souring investors' appetite for riskier assets. The ringgit came under further pressure from renewed concerns over 1Malaysia Development Bhd (1MDB). Singapore authorities said they had seized a large number of bank accounts in recent months as part of an investigation into possible money-laundering linked to the Malaysia's state-fund.
CURRENCIES VS US DOLLAR Currency Latest bid Previous day % Move Ringgit 4.2080 4.1550 -1.26
rough calculation, previously usd 4.4 to usd 4.10, usd drop 8%, pohuat from 2.0 to 1.70, drop 15%, meaning pohuat share price drop by factor almost 2 (15%/8%), so if pohuat at 1.50, meaning drop by 30%, meaning usd has to drop 15% from 4.40 meaning usd at 3.80, if our confidence usd remain>3.80, I see the pohuat almost reach bottom now
You siao ah.. Calculate like that. People now are selling because they heard some ah Beng news that ringgit is strengthening and pohuat is going to drop. Lol. Look at pohuat past earnings. All green green. With or without ringgit up or down
chosenic, broadly from the forex number, if based on 1Q of 2015 at RM3.30 level against current 1Q of 2016 at RM4.15 level, the number will be fantastic. Another way of looking from non-financial view is that, if we look at the non-audit number against the audited number, there appears almost no difference (except RM1 or RM2 adjustment). This also shows that the quarterly report is reliable and management is efficient.
Friday night USA has declared good unemployment rate 4.9% and subsequently US dollar index strengthen back. Don't focus on short term currency rate exchange because US really strong and federal will hike the interest rate again. Pohuat no need sell , it definitely a good counter
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
tanbb
1,334 posts
Posted by tanbb > 2016-02-01 10:32 | Report Abuse
buy some on weakness , keep for long term should be good.