KUALA LUMPUR: Malaysia should consider mitigating the requirement for the bulk of export proceeds to be converted into ringgit as it is burdensome, according to the Japanese Chamber of Trade and Industry Malaysia (Jactim).
Its president Hiroyuki Imizu said the measure introduced by Bank Negara in December 2016 was burdensome for Japanese exporters in the country, as they have to convert their export proceeds from US dollars to the local currency and this also adds to their cost.
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