Malaysia arrests foreign fund<\/p>\n
KUALA LUMPUR (AFP): Malaysia's central bank said Friday the
\nforeign currency conversion of ringgit proceeds from the sale of
\nMalaysian securities by non-residents would be allowed only after
\none year.<\/p>\n
In the first clarification of new foreign exchange controls,
\nBank Negara Malaysia reiterated that the holding period for
\nproceeds from the sale of shares acquired before September 1
\nwould start from that date.<\/p>\n
The one-year holding period for shares purchased on September
\n1 or later will start from the date of purchase.<\/p>\n
Bank Negara bank said the one-year holding requirement for
\nnon-residents also applied to other ringgit assets such as
\nderivatives, fixed deposits, fixed assets, bills of exchange,
\ntreasury bills and private debt securities.<\/p>\n
\"If ringgit assets are held for less than 12 months, proceeds
\nfrom the sale must be credited to the external account,\" it said.<\/p>\n
Proceeds from the disposal of ringgit assets held for more
\nthan 12 months can be converted into foreign currencies.<\/p>\n
Short-term fixed deposits with maturity periods of less than a
\nyear, if rolled over up to a year, may be converted into foreign
\ncurrencies, it said.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/malaysia-arrests-foreign-fund-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}