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PNB Opens Up Amanah Saham Malaysia (ASM) to All Malaysians

Posted on July 22nd, 2009 in Daily Observations, Malaysia Investment, Malaysia Mutual Fund & Unit Trust, Malaysia Personal Finance |

It’s rather strange that PNB is opening up the quota which was reserved for Bumiputras to all Malaysians. Not that I have anything against this new policy. I just don’t remember PNB doing this in the past, during the good economic times.

This further confirms my suspicion that the government is in need a lot of cash. Remember, they’ve only just launched the Sukuk Simpanan Rakyat and declared new units simultaneously for ASW2020 and ASM earlier this year.

(Business Times) Permodalan Nasional Bhd (PNB) will offer the remaining 1.6 billion Amanah Saham Malaysia (ASM) units, including those initially set aside for bumiputras, for subscription by all Malaysians from July 21.

President and group chief executive Tan Sri Hamad Kama Piah Che Othman said to ensure a fair distribution to the public, a maximum limit of 20,000 units had been set per account holder during the offer period from July 21-27. The limit would be void after the offer period.

“Thereafter, investors can subscribe for the ASM units without any maximum investment limit, depending on the amount of units left.

“Sales of the additional ASM units are based on a first-come, first-served basis,” he told reporters here yesterday.

ASM is an equity-income fund aimed at providing unitholders with a long-term investment opportunity that generates regular and competitive returns through a diversified portfolio of investments.

According to Hamad, the remaining 1.6 billion ASM units are from the 3.33 billion units launched in April.

And to add to all my observations, our local share market has been acting rather against the regional tide, don’t you think?





You might want to read these too... Comments
  • (Business Times) 22 JULY 2009, Permodalan Nasional Bhd (PNB) has announced that all remaining Amanah Saham Malaysia (ASM) units have been sold out.

    The 1.6 billion units were part of the 3.33 billion additional ASM units announced by Prime Minister Datuk Seri Najib Razak at the 2009 Malaysian Unit Trust Week in Johor Baru on April 20.
  • 2002
    I have heard a lot of news that Najib has used our money invested in the amanah saham he has launched to boost our share market.

    I think this is quite true to some extent as our share market has been improved a lot after Najib became the Prime Minister few months ago...

    What do you think, yowchuan???
  • Titi hayun
    i too felt so, money collected will be used to push up CI of BSKL, for political reason?. Many ah e and uncle are attracted to place their hard earn money in this popular ASM, ASW as they have no other choice. wonder will it collapse?
  • DNAxtion
    heard of rumours that Maxis re-listing? this would be another act from PM to stimulate the KLSE.
  • The current administration sure knows how to play the mind game. The fastest and easiest way to show the People that this country is moving ahead and progressing is using the KLCI index. The feel good factor.

    To really show progress and growth, it would take at least 3 years and the PM knows better than anyone time is a luxury he cannot afford right now.

    Such direct manipulation is definitely unsustainable, but unfortunately they have the entire nation's coffer at their disposal.
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