MESHIO.COM

In fact, any debit cards. Bet you the bank didn’t want to promote this, since they don’t earn anything from your debit card transactions. Instead, high volume of debit card transactions might even increase their administrative work.

Here’s a nice piece of advice from ShadowFox on why you should opt for debit card (18 SX only):

Yes, that’s my my personal opinion. You know why ?

Nowadays, it’s true that we cannot live without a ‘credit’ card. I would prefer not to call them ‘credit’ cards but electronic payment cards.

Now, the credit card companies have always been advertising and giving the impression that you’re an elite and earn a nice salary to be able to afford a credit card.

I beg to differ.

If you’re well off, you have money, why the fuck do you need to owe money on credit ? That’s so fucking pretentious and fake.

If you got money, you buy in cash, not credit.

The only reason to get these cards is for convenience and not having to carry cash around, and also for electronic/online purchasing.

That’s what these cards shine at.

Even rich people can become poor if they abuse the ‘credit’ card and spend unwisely.

There is nothing prestigious about owning a credit card.

To me, I think it is humiliating if you need to have a credit card because it shows you’re not capable of paying on the spot but need to HUTANG duit to get anything you want. It’s amazing how advertisements and marketing can brainwash poor people to think they’re rich when in actual fact they owe money like no tomorrow.

Many yuppies nowadays abuse the card like there is no tomorrow and go bankrupt while flashing their nice cars. Duit tak ada, tapi gaya mesti ada.

You only need 1 card that can do it all for purchasing online and offline.

Getting a debit card is much safer because you don’t have to worry about being forced to pay for things in case your card gets frauded, which is very common in Malaysia. The thief can only max out whatever you put into that card’s account.

It has all the important functions that a typical credit card has and I sincerely believe a debit card should be the BRAG factor, not a credit card.

It simply shows that you don’t need to owe anyone money in order to purchase the things you want.

Now if you’re a business owner would you prefer your customers to hutang you or pay on the spot? Take your pick.

Credit card is only for the poor people and wannabes. Debit card is for those already with money and don’t need to owe anyone anything.

And of course, I love debit cards too!

The launching of Pacific Dana Dividend Fund last Thursday marks the 16th fund managed by Pacific Mutual Fund Berhad. I was only able to make it to the fund’s briefing organized by the company at Eastin Hotel yesterday night (I was out of town for almost a week).

And in the short 2-hours briefing, here’s the information I’ve to share with you. (For my investors and newsletter subscriber, you will receive a separate update ;-) )

Fund Category: Equity

Fund Type: Growth + Income

Characteristic: Fairly Aggressive

Investment Objective: Aims to provide capital growth and steady attractive income in the medium to long term by investing in a portfolio of equities that are paying or have the potential to pay attractive dividend and that comply with Syariah requirements.

Minimum and Maximum Levels of Asset Allocation:
Equity Allocation
Minimum- 70% of the fund’s NAV
Maximum- 100% of the fund’s NAV

Islamic debt allocation:
Maximum- 30% of the fund’s NAV

Maximum Service Charge: 5.0%

Annual Management Fee: 1.5% p.a. of the NAV of the Fund

Investment Modes:
(i) Cash Plan- Minimum Initial investment is RM 500 and Minimum Additional Investment is RM 100.
(ii) Saver’s Plan: Minimum 5-year period and a minimum monthly investment of RM 50.

Performance Benchmark: 50% in Syariah Index (KLSI) and 50% Dow Jones Islamic Market World Index.

And since this is a global fund, you cannot use EPF money for this Fund.

The Syariah Index

Here’s an excerpt from The Star Online

Pacific Dana Dividen aims to provide capital growth and steady income in the medium to long term.

Chief executive officer Michael Auyeung, in an interview, said: “The fund has a strategy of buying into syariah-compliant stocks with sustainable and high-dividend yields that offer attractive and potentially above-average income and capital gains.

“Its portfolio of syariah-compliant dividend stocks provides lower volatility as price fluctuations of these stocks tend to be lower than the general syariah-compliant equities.�

“Dividend-style investing is tried and tested, through bull and bear markets.

“Our first dividend fund, Pacific Dividend Fund, has to-date generated total returns of 89% since its inception in November 2003 (compared with its benchmark, the KL Composite Index, of 73%) and about 19% compounded return annually,” he noted.

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Here’s another fund from Public Mutual Berhad. It’s an Islamic bond fund, which means it’s a Syariah-compliant investment. Debt securities with remaining maturities of seven years means that the securities have a lifespan of seven years, in which during this seven years, income will be derived from the securities in the form of income payouts.

On the PISBF, Teh said it is an Islamic bond fund that seeks to provide annual income through investments in Islamic debt securities which have remaining maturities of seven years and below and Islamic money market instruments.

“The fund may invest in foreign Islamic debt securities in Singapore, Japan, Hong Kong, Australia, the UK and other approved markets,� he said.

The PISBF will be launched at a NAV of RM1 per unit during the 21-day offer period from July 10 to 30.

The service charge is 0.25% of NAV per unit for the purchase of units of PISBF by investors. Its minimum initial investment is RM1,000 and minimum additional investment is RM100.

The Edge Daily

Depending on the nature of the securities, it could be semi-annually or annually, and the payouts are usually a guaranteed sum. Hence, bonds are usually a favorite instrument amongst the conservative investors, and you should also have it as part of your portfolio to hedge against possible market corrections.

To invest in Public Islamic Select Bond Fund, please contact info@meshio.com

Another step forward in the development of Malaysia’s Islamic Personal Finance…

FROM July 1, Malaysians will be able to invest directly in Islamic funds distributed in the country, the Securities Commission (SC) said.

“Prior to this, local investors would have to invest in a feeder fund in Malaysia to gain exposure to foreign funds,” it said in a statement.

Dubai International Financial Centre (DIFC) Islamic funds could be offered to Malaysians next month.

www.thestar.com.my

It seems that one of the planet’s largest bank is adopting the “Wait-and-See” strategy. With most of the banks branching into Islamic banking, Citibank announced that they will only be looking at it next year.

Too many things on the plate already?

CITIBANK Bhd will look into the possibility of setting up an Islamic banking subsidiary only next year, its top official said.

“(Malaysia) is an Islamic hub for us, for the region and in some instances around the globe, and so clearly it is something that we will look at.

“But chances are we’ll only look at it next year,” said Piyush Gupta, the bank’s country officer and chief executive officer.

Citibank has “no plans” to launch an Islamic subsidiary this year, he added.

Source: Business Times

2 more up and coming fund from Public Mutual Berhad- PB Asean Dividend Fund (PBADF) and PB Islamic Cash Management Fund (PBICMF). PBADF’s 1% free unit offer is valid till 28th May.

Source from Business Times…

PBADF is a moderate-risk equity income fund that seeks to provide income by investing in a portfolio of stocks in domestic and regional markets.

Up to 70 per cent of the fund’s net asset value (NAV) can be invested in selected regional markets including Singapore, Indonesia, Thailand, the Philippines and Vietnam. The equity exposure of PBADF will generally range from 75 per cent to 95 per cent of its NAV.

PBICMF is an Islamic money market fund that is actively managed to provide liquidity and current income, while maintaining capital stability by investing in instruments that comply with Syariah requirements.

Public Mutual will be launching a new oversea Islamic fund focusing on dividend yielding assets. Price of each unit is 25 sen and offer period starts 3rd April for 3 weeks.

Business Times on PIADF…

Chairman Tan Sri Dr Teh Hong Piow said the PIADF is a moderate-risk Islamic equity income fund that seeks to provide income by investing in a portfolio of stocks in domestic and regional markets, and offer or have the potential to offer attractive dividend yields.

“Up to 70 per cent of the fund’s net asset value (NAV) can be invested in selected foreign markets which include South Korea, China, Taiwan, Hong Kong, the Philippines, Indonesia, Singapore, Thailand, Australia, New Zealand and other approved markets.

“The equity exposure of PIADF will generally range from 75 per cent to 90 per cent of its NAV,” Teh said in a press release.

For more info…

Here’s another new Islamic financial product from AmIslamic Bank to hit the market soon.

Business Times on the new Islamic Investment-linked Plan…

AMISLAMIC Bank has signed a tripartite distribution agreement with Takaful IKHLAS Sdn Bhd and Munich-based international financial services group, FWU AG, to offer takaful investment products in Malaysia.

Under the deal, a takaful investment-linked plan will be distributed through AmBank and AmIslamic Bank’s branches throughout the country.