YESTERDAY (April 30), Johor Menteri Besar (MB) Datuk Onn Hafiz Ghazi said that ringgit’s depreciation against Singapore dollar (SGD) would be bring benefit to traders in Johor.
“This is because it gives Singaporeans higher purchasing power, encouraging them to visit Johor and spend in the state.
“However, I think the inflationary and currency depreciation is a temporary problem. Let’s pray it will not go on for a long time,” he told BFM, in an interview.
However, netizens were livid over the MB’s attempt to downplay the issue and hurled brickbats at the UMNO lawmaker.
User Roman Akramovich said:
(If ringgits depreciation is benefitting traders in Johor, why not get the Government to depreciate our currency further to be at the level of Zimbabwe dollar? Let them all reap multi-fold profits and become millionaires. What an imbecile of an MB)
Echoing his sentiments, user AbahAtok added: 
(A fool who can’t differentiate between quality and quantity)
Netizen Zhongli SImp posted a meme, featuring first Prime Minister Tunku Abdul Rahman with a caption which reads “Sia-sia aku merdekakan negara ini”
(I wasted my time bringing Independence to the country)
On April 25, Bloomberg reported that after hitting a five-year high last week, the SGD continued its upward trend against the ringgit by posting an all-time high of 3.1688.
Compared to US dollar, the ringgit was valued at RM4.3568 against the greenback. As of April 29, the ringgit closed at RM3.14 to SGD1.
Pointing out a silver lining
On that note, user Collin Yeoh defended Onn Hafiz’s assessment over the matter, stating that the latter was merely pointing a silver lining in the currency depreciation issue.
Netizen EZI remarked:
(The MB is right when it comes to traders in Johor. He was not speaking on behalf of the country or other industries. Read the statement properly) – May 1, 2022
