News & Articles Singapore will suffer with weak ringgit
Singapore will suffer with weak ringgit
27 Aug 2015
Singapore’s Foreign Minister K.Shanmugam says the weakening ringgit and Malaysia’s slowing economy is not beneficial to Singapore.
Channel NewsAsia reported the minister as saying this at a forum entitled, “Small state diplomacy: Challenges and opportunity for Singapore” organised by the Singapore Press Club today.
Shanmugam said Singaporeans may think the weakening of the Malaysian currency to the point that S$1 is equivalent to RM3 is a good thing, when they go on a shopping trip across the Causeway.
However, in reality, he added, there could be implications for the weak ringgit, given Singapore’s economic links with Malaysia.
As Singapore is the biggest investor in Iskandar Malaysia, he said: “Any trouble there is a serious issue for us.
Channel NewsAsia reported the minister as saying this at a forum entitled, “Small state diplomacy: Challenges and opportunity for Singapore” organised by the Singapore Press Club today.
Shanmugam said Singaporeans may think the weakening of the Malaysian currency to the point that S$1 is equivalent to RM3 is a good thing, when they go on a shopping trip across the Causeway.
However, in reality, he added, there could be implications for the weak ringgit, given Singapore’s economic links with Malaysia.
As Singapore is the biggest investor in Iskandar Malaysia, he said: “Any trouble there is a serious issue for us.
Source: The Rakyat Post