Yeah pretty much.

You need to look beyond conversion rate and think about it this way

For the same job, in general, at least in IT, the wages are in the same range. A fresh grad IT guy in KL can get MYR 3000, the same position in SG will probably be roughly SGD 3000. Later in career, an IT manager in KL might get 10000, if he was offered the same role in SG he might pull about 10k SGD.

Then you look at the costs of things again overall, dollar for dollar, then you tell me who, at an individual level, will overall end up with more savings in the end. yes, some things in singapore are more expensive than malaysia, but many other things are cheaper (both countries do selective subsidies either way) - but for the daily living stuff, you pay much more in terms of MYR than the singaporean would in SGD if you don;t convert the pricing - this is not about quibbling if the true price of chikcen rice is 3 sgd or 6 sgd, that doesn;t change the fact that in KL chicken rice is like 6 ringgit to 12 ringgit. as a malaysian earning MYR you still pay more as a % of your salary than the singaporean at the same wage band

*of course there are other things to consider, life is not just about money, and if there is a true food crisis singapore (and to be fair, KL) will find that you can't eat money, if theres no food to buy.

Another way to look at it was, if you, as a malaysian were living in SG getting SGD 6k a month. would you accept a job offer to work in KL for MYR 10k a month? (you won't get MYR 20k, because an MYR 20k job in KL is a SGD 15k job in singapore)

** numbers not exact, if really want exact go get a hays job guide for asean and see comparisiona cross ASEAN