Malaysians working in Singapore gain spending power as ringgit slumps

Migrants eye properties, cars at home as salaries rise in local currency terms

20240318 ringgit

The ringgit's fall against the Singapore dollar creates gains for Malaysians working in Singapore. © Reuters

DYLAN LOH, Nikkei staff writer

SINGAPORE -- Pius Chuo, a 30-year-old Malaysian working as a business development executive for an energy company in Singapore, plans to buy a house back home this year, as real estate is becoming more affordable relative to his income as the Malaysian currency falls.

"With the weakening ringgit, it is indeed enticing me to look at Malaysian property more because the impact of the foreign exchange rate is magnified with larger transactions," he said.

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