Friday, July 31, 2009

Amanah Saham 1 Malaysia *UPDATED 3 AUG 2009

*Original article*

Finally, the most awaited moment had arrived. PM Dato Seri Najib had make the announcement today, 31 July 2009 on the launching of the biggest ever trust fund so far with the size of 10 billions. Dear readers, mark your calendar on 5 August 2009, Wednesday to do camping again to buy these units. For employees, hope it is not too late to apply leave now. A shocking news is that Najib also announced that 50,000 fresh undergraduates of local public institutions of higher learning will get 100 units of this newly launched Amanah Saham 1 Malaysia. Though the amount is not that big, it however provide a starting point or catalyst for the students to learn how to save their money and generate some income through long term investment plan. In another view, it make the students easier to make additional investment in the future by having an account now. Let's have a look to this plan.
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From what I can see, this plan is exactly the same like Amanah Saham Malaysia which I bought few weeks ago. It just differs in terms of the date of birth and the fund size. Haha.

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On the maximum investment, there is a difference from ASM. Initially, ASM was sold to all and later on a new system of selling based on race quota was introduced. For this plan, the new system is used. Though it is stated unlimited investment, I think the maximum investment or limit will still apply even after the initial sales period.

As stated, those aged 55 years and above can only purchase a maximum of 100,000 unit per unit holder whereas those bellow 55 years old can only purchase a maximum of 50,000 units. Such limitation is of course a good news to all poor to moderate income Malaysians but not to the big tauke or big boss. They no longer can enjoy the luxurious of putting their 'side income' amounting hundred thousands ringgit and buy all the units within days of launching.

Another difference is that there is a new ruling stating that 1% of amount invested may be charged after initial sales period. Not to bias, this system seem targeted to charge the Chinese for buying the additional units after initial sales period ended. Why such ruling never been implemented before but now?

As usual, from the 10 billions fund size, there will be 50% allocation to the Bumiputras, 30% to the Chinese, 15% to the Indians and 5% to the other races. So, there will be 3 billions allocated for the Chinese. The Chinese who are well known to buy all the allocation within days may have a better chance among them. This is due to the maximum limit that one can buy. Judging into this, we can expect more people will but this units and hence there will be a longer queue.

The time frame for this allocation to finish up is predicted to be about 2 days with extension of another half day. So, dear friends, are you interested to start your an investment for your own future? As for me at the time of writing, I am still unsure whether to buy or not as I need to consult with my 'financial supplier' first. Most probably I will start it small if I do not get allocation this time. However, this is a golden opportunity to all Malaysians and I foresee to have a better dividend payout looking to the current economic that is slowly recovering. I would like to share a tip for buying this units.

QUEUE up as early as possible. It's better for you to suffer from getting up early than having a super long waiting time till the end of the day should you come on or after 9-10 am. If your number is still far away, don't be silly to stand at the banks. Go to have your breakfast and estimate the time. Last time when I bought ASM, it was about 6-8 people in 1 hour. If your investment is low lets say RM 1000, take the money out and buy at post office. it will be much faster. If possible, take the application form from the banks and filled before you come so that you won't be lost on that super crowd day.

Bring a headset and enjoy to your music or bring a book. Ask some friends to accompany you and a light meal before you start queuing. if you don't mind people laughing at you, bring a movable stool so that you can sit while waiting. A newspaper is a good companion. Find banks located in a less denser population or lesser Chinese populated area. That's all from now. So, any friends want to camp with me??



*Latest update as on 5 August 2009 together with exclusive clarification of the plan, click HERE*

*Latest update as on 3 August 2009*

I went to Maybank today and the first word they said to me was 'no capital guaranteed, think first before you buy. Apparently, the whole Malaysians was confused and assume this new AS 1 Malaysia to be same as ASM. Well, it is NOT.

Accordingly, this new plan is based on market value and the expected dividend payout is 3.7 to 4%. which is not a guaranteed. (might have loses as well). After the initial sales period, the price per unit is not fixed at RM 1.00 but will shoot up or down depends on the market value. Hence, it poses a risk in the investment but it is not something new in mutual funds like those offered by banks.

Besides, it has also additional charges namely management fees (if not mistaken 5% of the investment value) and also trustee feees (if not mistaken 0.5 % of investment). Such 'new' plan makes the buyers to have a second thought on the reliability and risks of this investment. I am not sure about mutual funds, but if it same like them in terms of risks and return rates, question arise is why don't I invest in established mutual funds? Comments from experts are essential HERE ASAP in helping us making a decision.

For the form, it will be only distributed on Wednesday during launching. TQ.

*UPDATE ENDS* 

44 comments:

townguy said...

manage to get ASM, that day, coming wednesday my time for amanah saham 1 malaysia, 1000 unit RM1000, canla.

Anonymous said...

But according to China Press, the return for this fund is only 3.7% to 4% p.a.

heather yee said...

i jz came back frm PC fair & overheard my mum about this AS1malaysia, thought wanna inform u, mana tau u got d news earlier than me :P hehe.... since it's new, not sure wat d return will be so jz think thoroughly b4 u invest ya! happy camping day :P

vkvun said...

how much will u put this time??

KwOnG FeI said...

wat? 3.7-4%... really need to check it out..
if it is dat low, x worth..

laifan said...

yalo..is it 3-4%? if like tat not worth to buy ler.. haha. sorry for interupt, i quite interesting on this.

KwOnG FeI said...

my fren said see tomolo newspaper report..
hopefully wont be dat low~~

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reinani said...

If I read it correctly yesterday, PNB will invest AS1M in local equities and other investable instruments that will give 3.7% to 4% returns per year each. Emphasized the word "Each". Which probably means, that (3.7% to 4%)X(number of equities)=?.

peng said...

hi...just hav some ques to ask..
where n when can i get the application form?n what should i bring on that day besides money?thz a lotss

ed9star said...

I am a Malaysian who is studying in London at the moment. Can anyone tell me if I can buy the amanah Saham 1malaysia from overseas. It seems nothing is said about this in any of the literature about this big idea thing. Has Najib forgotten that we who happened to be abroad also have the right as a malaysian to participate in this scheme?

KwOnG FeI said...

@peng: bring your ic as well. Thats all.

@ed9star: I dun think it is possible for you to do so abroad. One must understand that during the application,your left thumb print is required and mandatory. Hence, even in our own country, we can't purchase for others. We need to go there by ourselves.

@reinani: i will do more study on that. I yet to read the news as I was out whole day. Haha.

KwOnG FeI said...

check out my latest updates

Anonymous said...

hi.. i m not an expert but would like to share my view.

I went to Maybank today to get the application form. The officer told me 2 things ie capital not guranteed and 1% sales charge. I do read the details about AS 1M stating 1% sales charge only impose adter the initial offer period. But she insisted and say "I dont know. We are just acting as an agent and required to tell customers that investment is entitle 1% sales charge. I was so angry and nearly scolded the officer coz I keep on asking her to clarify and she stand firm on her point. I don't think the Maybank staffs are well-knowledgable on AS 1M and provide investor such information.

You can do more research online as like : http://malaysia.news.yahoo.com/bnm/20090803/tbs-hamad-1malaysia-bm-ceeeaba.html

http://malaysiafinance.blogspot.com/

Anonymous said...

hey guys,

I'm also interested to buy the Amanah Saham 1Malaysia (AS 1Malaysia)

As far as I know, there will be no sales charge during the initial offer period. i'm very sure on this matter. I've called PNB and they confirmed it with me.

on the capital guarantee thingy. Yes, it is not capital guaranteed. BUT, the funds are transacted at a fixed price of RM1.00. So, indirectly, we can consider it as a guarantee since everytime we buy or sell our units, it will be at RM1.00, meaning that we won't lose our money.

KwOnG FeI said...

dear anonymous, yes it is not capital guaranteed.. but i und that even ASM also din state it is a capital guaranteed..
personally, i dun think the govern will make u lose money..but invest with caution..
on the fixed price of rm 1, perhaps it may wrong. It is only fixed at rm 1 NOW or SALES PROMOTION period as they claimed based on my conversation with the bank officer.
after the sales period end, the price of per unit will change according to the market value..
dats why they ask u think twice.. it may be up or down..
however, some say it is a fixed price at rm 1. Personally, i also get confused. But, if you say u fixed it at rm 1 per unit, then what do you mean that the unit will go up and down based on market value? so, i think the former one is more accurate.
the asn also follow the market value and has been giving return about 5-6 %.
so, it is like mutual fund but banks' mutual fund capital only roughly 5-10 millions but this AS 1 M has 10 billions..
any expert would like to give their views?

Anonymous said...

i m so confuse nw... should i buy it? i hav fill in all d required document bt haven photo my ic... juz browsing n see malaysians' opinions on this n it seems evryone has their own opinion on tis....

KwOnG FeI said...

erm if u think u r into investment and worry about the risks, why don;t follow me open up an account with small amount..
see after 1 y, then if it is ok..continue to purchase more..
the good thing is u n need to queue up in future

Anonymous said...

i've called pnb last year and they confirmed it to me that as1m is a fixed price product which is far more better than capital protected fund. regarding the return, they said u should look at the performance of asm. even though the benchmark is 3 month klibor which will give u around 3-4%, the return for asm is twice than the benchmark. so i think it will be worth to buy.

Aim said...

hi..

Yeah! I got it at 8.40am at PNB HQ KL. Opened at 7.30am to give out numbers, started at 8.00am. By 9.00am already reach number 80.

Heard from friend who was in Maybank 1U at 12pm said system down and just able to run few number in front.

Based on previous experience, I was always stuck at Maybank branch..It's my first experience in PNB HQ KL. That's good - Well organised, fast.

KwOnG FeI said...

wow.. 1 hr reached 80..dat was pretty fast!
for maybank guess it is the first time to have such problems

Anonymous said...

what bank i should go if i want to buy the saham?

Anonymous said...

d financial year end is 30 sept.
is it mean tat end of next month we can get our dividend?

KwOnG FeI said...

in my opinion after discussion with other buyers today who had contacted asnb,

1. it seems that the dividend is updated monthly

2. when a physical year ends, an average of the dividend will counted and made known to public and we will get that amount (average)

3. should let say i stop halfway at month 6, i will be pay based on the divided payout at that month and hence should i wanted to sell out, i should check out the dividend rate few months before so that I wont rugi to sell out should the income is good though u still sell out 1 unit at RM 1

for which banks to go for, hmm.. I had a bad experience with Maybank today. So, if you want to go, u amy try again or try other banks. I not sure how other banks do but for post office, it surely no problem at all.

Aim said...

Here is some updated news about AS 1M. http://bernama.com/bernama/v5/newsbusiness.php?id=431100

KwOnG FeI said...

Thanks Aim..will update my 5 august post

Niko said...

may i noe if i oled bought the saham but thn one day i wan to withdraw it out or sell it..then how?
is it can refund back o need to pay any charges?
how long time we hv to put it after we bought...

KwOnG FeI said...

erm if nt mistaken is either 30 or 100 days
after that, u can sell ur unit any time..
u will sell at rm 1 per unit and the price remain the same all the time..
no additional charges will be imposed..~~

Anonymous said...

Saham 1 Malaysia but with RACE quota.
Said NO LIMIT but there's limits.

This type of fund is clearly manage by foolish people. They don't even understand simple English of NO LIMIT and misuse 1Malaysia concept for their gain. They definitely don't even know what 1Malaysia is all about.

Do I have to mention this to you ? There will be no 1Malaysia as long as RACE and QUOTA are concern. These are the major factor that split Malaysian and disrupt racial unity and trust.

KwOnG FeI said...

Though I agree to you, in another perspective of thinking, such race quota will enable all the people have the equal chances to own the units.

The question arise is that why when such good benefit is given to the certain races, the benefits are not taken up. Instead, they choose to take funds channelled directly to them.

Next question, whats the point of race quota when we know that the quota for certain races will never ever be fully taken up.

utardylan said...

I just bought 1000 unit today.
I ask the bank officer they also said "We still not sure and dunno the divide" but confirmed 3.7% - 4%.
charged after initial sales period.
that all .

For me opinion, Why not start from the low unit.

KwOnG FeI said...

good start for you..
we shall begin everything stepwise and slowly.. and hopefully one day will be fruitful..
btw can I ask r u a Bumi or non Bumi?
If you are non Bumi, it will be a big surprise that till now the units still available..
wonder when Amanah Saham Wawasan will be released..

Anonymous said...

When other asm products eg ASW2020 will issue?

KwOnG FeI said...

hmm i also dunno..

Anonymous said...

hi, did anyone knows whether still can buy the AS 1Malaysia or not? as it lauched some times ago.

KwOnG FeI said...

yes dear anonymous..
the allocation for respective races is not yet full..
for chinese if not mistaken it was about reaching 90% +
if u r a malay, there still plenty..
i rmb there was once a promotion period which they did not give additional charges for the sale..
but not sure now expired or not..
otherwise, they charge you a little for the purchase outside the selling period (which was last year)

Anonymous said...

so tat if for chinese, i have less chance to buy it coz almost out of quotas? Btw, if they charge, may i know roughly how much they will charge?
thanks for your info.

KwOnG FeI said...

no worry..u still have chance..
if the allocation had finished up, sure the newspaper will make a report..
hence, you still can purchase and now there is no restriction on amount that you can subscribe..
they charge you maximum up to 1% of total invested..
my advice is if want to play safe, don't put too much one shot..
dis is the most worrying part causing many people still in doubt to purchase or not..
since this is newly launched, many people would wait and see the dividen payout on dis coming 30 sept before investing..
no one can tell it will definitely earn or loss.. but as i mentioned, this is the prime project under Dato seri najib..
he wont let any chance to tarnish his image hence even if it is not dat high earning as compared to others like ASM, there was once a report saying at least 3.5-4.0% return.
god know.. it might be 5-6% on dis sept??
pray hard~

Anonymous said...

dunno can go on weekend or not means go to pos office?

KwOnG FeI said...

is ur question whether can purchase over the weekend??

gosh when was the last time i stepped my foot to the post office..

i wasn't sure whether the postoffice opens on the weekends or not..

but should they do open, i dun think you cna make the transactions..
this is because every transactions is made at real time linking to the main database.. i not sure about post office but for maybank, the staff told me that every transaction will be placed at real time to the KL maybank HQ before you made the purchase

hence, even though post office may open, the main database is off for work..

whatever it is, is better to make a call to confirm.. otherwise, if u cant go bank during working hours, i am sure u can make a visit to post office after work as they closes at 9 or 10 pm daily.

correct me if i am wrong on their business hours.. haha.. forgot alrdy~

Anonymous said...

Newspaper announce 1 malaysia for chinese had been sold out on 10 may 2010, but i still manage to buy on 13 may 2010 at RHB bank's counter, funny yah...., why????

Anonymous said...

Other PNB trust funds like ASM and ASW2020 give out dividend based on the returns of their investment portfolios, which are 95% equity and 5% others. Their returns have been consistently above 6% over the years. Of course, this does not mean that it cannot go lower than 6%.

For AS 1Malaysia, the returns are to be benchmarked against the returns from the Malaysian Government Securities, which mostly come from bond fund. This is between 3.7% - 4% only. So, I think that AS 1Malaysia may not give out dividends higher than 6%.

KwOnG FeI said...

Finally, the dividend rate has been announced on 23 september 2010.

it is 6.38%! hurray!!!

check my post here:

http://kwongfeimind.blogspot.com/2010/09/amanah-saham-1malaysia-first-dividend.html

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