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?
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