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Showing posts from July, 2015

Golf and the Exchange Rate

3.8 That's what our Ringgit's number against the U.S. Dollar. Companies that deal with American imports are obviously facing a headache. So how does it affect golf? Most golf brands are American icons. Retailers, already faced by the onset of the GST implementation, has some serious accounting to do. And let's face it, the majority of the population has cut their spending due to the rise in the price of goods caused by the GST wave. Consumers report that most goods and food items actually cost more than 6%. It is still unclear why traders charge more, but some have reportedly blamed it on unscrupulous companies and opportunist owners. At the CIMB Hari Raya Open House yesterday, I bumped into Mr. K. P. Low of MST Golf, Sylvester San of Fujitsu and Chuah Choo Chiang, the Director of Communications for the Asian Tour. We discussed the downtrend of golf in the country caused by the effects of the GST on consumer spending and the weak performance of the Ringgi