Category: Business & Finance
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Many Malaysians Have Too Little Savings to Retire Comfortably
As 2023 begins, about 274,000 EPF members in Malaysia will turn 54 and become eligible to make withdrawals for retirement. However, deputy finance minister Steven Sim reveals that 35% of this group (nearly 100,000 people) have less than 10,000 ringgit in their accounts. This is far below the recommended savings to retire comfortably. So how…
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How Jal Rashid Went From Vincent Tan’s Successor to Government Advisor
Jal Rashid has one of the most impressive resumes, serving as CEO roles at various major companies by his late 20s. However, his journey has been marked by unexpected turns, guided by his desire to drive change. Leadership Journey Rashid started his career as a fund manager at Abedine Asset Management. By age 26, he…
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Why Malaysia’s Currency is Falling and What it Means for You
The Malaysian ringgit (MYR) has fallen to 4.7 to the US dollar, one of the lowest rates since 1997. The ringgit was recently named one of the worst performing Asian currencies, second only to the Japanese yen. This has left many Malaysians worried about rising prices and questioning if Malaysia’s economy is truly strong. Can…
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Why is Malaysia’s Ringgit So Weak? Understanding the Causes and Government Response
Over the past few years, Malaysia’s ringgit has struggled tremendously, sinking to depths not seen since the 1997 Asian Financial Crisis per some reports. Other official statements reveal the currency as Asia’s worst performer in recent times, second only to the Japanese yen. Such a drastic slide for the ringgit sparks deep concern given the…
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How Malaysians Are Coping with the Weakening Ringgit and Rising Costs
The Malaysian ringgit has seen a sharp decline in value against major currencies like the US dollar in recent years. This depreciation of the local currency has had a significant impact on Malaysian citizens, leading to reduced purchasing power and straining household finances due to rising costs of living. Coping with a Weakened Ringgit For…