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.
??hereafter, investors can subscribe for the ASM units without any maximum investment limit, depending on the amount of units left.
??ales 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...
- ASM to add 500 Million New Units
- ASM and ASW 2020 to Launch New Units for 2009
- AS 1Malaysia Starts Selling Today
- ASN3 and ASG Offers 3 for 100
- ASN Declares 5.5 sen Dividend
- ASW 2020 6.80 sen Dividend
- PNB to launch new units for ASM and ASW2020
- 1 Billion New Units for ASW2020
View Comments
RSS feed for comments on this post. TrackBack URL
Sorry, the comment form is closed at this time.
Comment by yowchuan — July 22, 2009 @ 9:58 pm
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???
Comment by 2002 — July 22, 2009 @ 11:40 pm
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?
Comment by Titi hayun — July 27, 2009 @ 9:54 am
heard of rumours that Maxis re-listing? this would be another act from PM to stimulate the KLSE.
Comment by DNAxtion — August 10, 2009 @ 2:32 pm
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.
Comment by yowchuan — August 11, 2009 @ 2:45 pm