Re: Investment Options
Originally Posted by SushiFan
(Post 12285122)
If you plan to stay the rest of your life in Malaysia, then it would be best to have your investments in MYR. And don't be exposed to any other currency. However, if you plan to move to another country later in life it would be better to have yourself hedged to that currency.
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Re: Investment Options
Originally Posted by bakedbean
(Post 12285209)
Mm2h is nothing but a long term tourist visa, albeit a rather superior one compared with some others. But the reality is that none of us are Permanent here so keeping all eggs in ringgit is probably not so sensible.
Malaysia has had trouble with the Ringgit in the past and applied a non-capital outflow during the Asian Financial Crisis. Although the currency has recovered they still do not allow MYR to be traded outside. I had to exchange my MM2H FD to buy a foreign currency which, fortunately, I planned anyway..... but just imagine being locked-in for some reason and couldn't get your savings out of the country. Next year, and maybe even earlier, there will be an election...I'd wait to see the outcome before investing substantially in Malaysia. IMO...The FD and interest is sufficient...unless purchasing property. |
Re: Investment Options
Good points being raised.. In general I think, if you are native of Europe/US/Canada.. keeping majority of your 'long' term investments in the local currencies will benefits you or at least cushion you against sudden fluctuations and long term declines in Emerging Markets.. on the flip side, if you are savvy investor, money can be made in day trading and currency trading in Asia, because of the volatility.
I agree its a long term tourist visa.. but if it is predictably renewable. I dont really care that i cant participate in local politics (I dont pay (direct) local taxes either) and cant work (I dont want to work..and frankly nature of work (in my profession at least (I am an IT Guy) has changed.. i can work remotely from anywhere if i need to).. so what matters most to me is some form of security, ability to have a place of your own (with secure property rights) .. and getting the hell outta of frigid temps and unacceptable cost of living (and current homophobic/xenophobic/isolationist env in USA) that forces you to work like a dawg most of your life just to survive .. My $0.02 |
Re: Investment Options
Originally Posted by NeonHippy
(Post 12285091)
I have opened investment accounts in Singapore as I think that long term the s$ will fair better than the ringgit.
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Re: Investment Options
For those not too risk averse it should be noted that, for the first time, Chinese Bonds are for sale on the Hong Kong Bond Market starting today, and will be freely trade-able.
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Re: Investment Options
Originally Posted by Fenella
(Post 12285453)
How did you manage to open accounts in Singapore NeonHippy? Do you have an address there or can anybody open an account there?
Of cause I agree that investing in the Ringgit is risky. But Christmas 2004 the exchange rate to the EUR was 5,12. And then the EUR crashed under 4,00 a couple of times. Yes, we all should have put our money in SGD and CHF, but looking behind is not looking forward. Conclusio: Mix it. |
Re: Investment Options
Originally Posted by eCdD
(Post 12285584)
And what is the advantage of a CIMB Singapore account compared to a CIMB Malaysia account? Guess the interest rate for SGD everywhere is zero.
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Re: Investment Options
OK, Australia and New Zealand is the only part of the world I don´t have any business with. No stocks, no currency, no interest, nothing.
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Re: Investment Options
Originally Posted by Fenella
(Post 12285453)
How did you manage to open accounts in Singapore NeonHippy? Do you have an address there or can anybody open an account there?
In the UK I always used Fidelity International for my investments and when I left the UK they advised me that living in Malaysia I would no longer be able to trade in the UK and suggested their Singapore office. I looked into that and found that it is not possible to trade directly with Fidelity there, you have to go through an agent.it just so happens that HSBC Singapore is an agent. I contacted HSBC in Singapore and found that in addition to normal banking branches there is an international investor's branch that specialises in accounts for non-residents wishing to invest in Singapore. They sent me the relevant application forms and after what seemed to be ages I eventually got a trading account. In the UK, funds in other regions were still traded in £ so it was easy but in Singapore they are traded in base currencies. So I ended up with accounts in sterling, US$, Sing$ and € although I don't use them all yet it does give me freedom to chase strong currencies. There are a few hoops to jump through, FATCA and a Singapore an requirement to show you are an experienced investor but the staff there are quite helpful. If you are interested let me know and I will pm you the contact details for my relationship manager. |
Re: Investment Options
Originally Posted by bakedbean
(Post 12285209)
Mm2h is nothing but a long term tourist visa, albeit a rather superior one compared with some others. But the reality is that none of us are Permanent here so keeping all eggs in ringgit is probably not so sensible.
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Re: Investment Options
Originally Posted by Davita
(Post 12285251)
Malaysia has had trouble with the Ringgit in the past and applied a non-capital outflow during the Asian Financial Crisis. Although the currency has recovered they still do not allow MYR to be traded outside.
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Re: Investment Options
Originally Posted by SushiFan
(Post 12285122)
NeonHippy, I believe that currency fluctuations is some sort of double-edged sword. If you plan to stay the rest of your life in Malaysia, then it would be best to have your investments in MYR. And don't be exposed to any other currency. However, if you plan to move to another country later in life it would be better to have yourself hedged to that currency.
If you search good enough you will find everywhere the possibility to invest in mutual funds whose base currency is either EUR, GBP, USD. For some of those funds you maybe pay in GBP, but are in their core based on EUR or USD, for example. Combining those in a portfolio of funds creates some hedge against all major currencies. |
Re: Investment Options
Hi Neon...if you're really concerned I have an account in Canada and I'll volunteer to look after it if you'd like to deposit with me.
Just tell me the amount you wish to remit so I can advise my banker I'm going to be rich......and need a collateral loan based on my fixed deposit....:rofl: |
Re: Investment Options
Get in the line Davita...:)
Neon my mattress offers excellent protection (I sleep on it everyday... I know if any moneys are missing)...Send ME you money :)
Originally Posted by Davita
(Post 12285782)
Hi Neon...if you're really concerned I have an account in Canada and I'll volunteer to look after it if you'd like to deposit with me.
Just tell me the amount you wish to remit so I can advise my banker I'm going to be rich......and need a collateral loan based on my fixed deposit....:rofl: |
Re: Investment Options
Originally Posted by ssoomro
(Post 12285887)
Get in the line Davita...:)
Neon my mattress offers excellent protection (I sleep on it everyday... I know if any moneys are missing)...Send ME you money :) Poor me, age 80, and on a diminished UK pension is in need.....I would like a new yacht. Ok! Ok! maybe, as you started the thread...we can go halves....:nod: |
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