Ringgit weaken significantly

A potential temp reportfolio by foreign funds. A strategy by BNM to start lower its value to protect manufacturing. (A move I always seen ineffective that caused our business slow to adapt to global environment)

Uncertainty of election and Sulu case? But we feel that a stable currency is very important in 3 to 5 days moving average to avoid speculation gap allow. Ringgit is still not fully define by market force as the values define by a selective basket of currencies by BNM.

We will temp stop purchases of foreign currency especially AUD as from 3.18 to 3.25 vs Ringgit is about 2% variation in a week.

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