Wednesday, August 5, 2009

Amanah Saham 1 Malaysia, 5 August 2009 *Updated 8 August 2009*

*UPDATES ON 8 AUGUST 2009* Source: Bernama

Amanah Saham 1Malaysia (AS1M) received strong support from the investing public with more than 1.4 billion units taken up within two days of its launch. The selling and buying price of AS1M is fixed at RM1. Unitholders, therefore, can purchase or redeem the AS1M units at RM1 per unit at all times, said Hamad. Redemption however could only be done after the 30 day offer period, he added.

Since units of AS1M is fixed at RM1 at all times, it is not defined as a "capital guaranteed fund" because by definition of the Guidelines on Unit Trust Funds, a "capital guaranteed fund" would guarantee investors the capital invested only if units are held until maturity, explained PNB. Fixed price fund meanwhile does not have a maturity date, and therefore its unit is fixed at RM1.


Yo.. it is another successful camping and different type of experience today! I went to the Maybank at about 6.30 am. Initially, we were planning to go to the post office. However, since we got a lucky number 2 and 3, my friend decided to buy at Maybank instead. Perhaps, we have good companion with the 1st person and the 5th and 7th persons, our conversation went lively as we waited for our queue.

pre dawn

For your information, Maybank (the whole nation I guess) network server went down and could not connected to ASNB. My application was registered at 9.30 am with my account book printed, stamped and signed. However, I have to wait until 11.15 am for the server to be connected and my registration to be fully completed. On the other hand, post offices went smoothly. At 10 am ++, the number went far to 29 and at about 11 am ++, it reached 40. Information given is for post office, CMC , Taman Connought.

My number 123..Haha

The number of crowds this time is far less than expected. Thanks for the uncertainties made intentionally and unintentionally. First and foremost, there is no enough time for the buyer to make the decision as well as to arrange time to make the purchase. I found it weird to have announce on the last Friday afternoon instead of few days before. Those who get the news late may not be able to apply leave on time.

Second, many potential customers had difficulty in getting the correct and precise information. From ASNB website, the information is too little for the public to understand in detail. As from the Maybank officers, there is no reliability in the information given. Some info may differ from branches to branches. Even the Maybank officers are confused on the plan. Third, potential buyers are scared away by the words from the Maybank officer. Those who had asked them on Monday or Tuesday will get this word when they asked for form 'Amanah Saham 1 Malaysia right, there is no capital guaranteed. Think twice before you buy. The price will go up and down'. From ASNB web, they found no such information provided. So, to play safe, better not to take the risks as this plan is a new one.

  1. Do I need to get a new/special form to apply?
    Answer is NO. It is the same form used in previous ASNB unit trust investment. The bank officers who claimed that you will get a new form to fill is a rubbish. See, even they themselves are not clear.

  2. What is unit price per unit? Will it be fluctuating or increasing as told by Maybank officers?
    The unit price per unit is fixed at RM 1. However, there might be an additional sales charge after the initial offer period. This unit price will be fixed at RM 1 and will not be changed accordingly to the market value as claimed. In another words, if today you buy 10,000 units for RM 10,000, you going to get the same amount should you sell it out.

  3. What does the market value significant as told?
    This market value will not affect the sales per unit. It will only affect the dividend payout or interests. Hence, at certain period of times, you get a higher return while at certain times, you might get a lower return. Lets say the price per unit shoot up to RM 2, the RM 1 sales per unit remains unchanged but the additional income will go to your dividend payout.

  4. What do you mean by capital not guaranteed?
    I also not sure. Perhaps, if the investment goes into deficit, you get zero money. Lets say you invest RM 100, 000 and the next months, the companies on which the money are invested all bankrupt. Hence, your capital is not protected as you may lose your 100, 000 either partially or completely. However, think of the good side or more applicable. If the investments are successful like all other unit trusts offered by ASNB, the sales per unit remained at RM 1 but the extra incomes generated from the investments will goes to your dividend payout.

  5. Whats the correlation of market value despite the price per unit remains the same all the way?
    It seems that the dividend payout or interest is given monthly. Hence, you may get low or high at different period of time. In addition, you can now sell your units at any time. You need not to wait until a full period of 1 year. When you sell your units, it will be fixed at RM 1 per unit. So, when you closes the account, the interest rates up to the time you withdraw will be calculated. 
The information is correct at the time of posting. All information as stated have been cross checked with ASNB officer. It is advisable to look for ASNB officers rather than their agents or bank officers for information as they too are confused and not aware completely about this plan. Should I make any mistakes, do let me know.

Below is the only 1 page information distributed to all Maybank. So, the staff use this to explain to the customers. It is surprisingly why other vital information as seen below is not clearly stated in any other sources. Don't you think AS 1 Malaysia laucnhing is too rush? Government is indeed no more money and that's why the predicted launching in September had brought forward to first week of August with just 2-3 weeks away from the launching od additional ASM fund. I was told also in upcoming 1-2 weeks, the Amanah Saham Wawasan 2020 unsold allocations in last April will be open for sale.


The price per unit is FIXED at rm 1.00. Not capital guaranteed as defined under the Guidelines. One Indian uncle asked 'where is the Guidelines?'. If you good in economic terms, you should see the asset allocation. It is too technical for me to understand.


I don't understand what is the meaning of management and trustee fees. Can any 1 explain to me? Quite
surprise that we are not told on that.


As usual, this is the photo of my investment book. Very happy to have my second investment book! yaHooOO!


How much did I invest? Not much, only RM 10.00. Wakakakaka


heather yee said...

wow, congrates for another camping victory! hehe.... my mum went to maybank Setapak at 2pm & they wont distribute anymore numbers after they given out 100 numbers in the morning... furthermore, they process extremely slow here, only 60 applications was processed by 2pm so my mum have to go back Maybank 2mr to try her luck... kinda impressed by the info u posted, very useful for the public & interested amanah investors, u could try to work part time as ASNB officers in future ;P

KwOnG FeI said...

haha.. works? i just like writing..
btw maybank server sot jor lor today.. apply halfway get everything done then the bank officer say money cannot be send into ASNB account.. char dou wait me wait 2 more hours for that..
my mum went to other branch and at 11 am not even process a single application.. lagi teruk..

vkvun said...

I was the first to settle everything. so happy that time. haha. KF, long waiting time, but informative session mah with the crowds. regret or not waiting at maybank?

KwOnG FeI said...

quite fun session compared to asm time..
as the crowd is lesser and we talk almost all the time with the confused investors as well..
we were discussing on the market value thingy and the fixed price per unit..
indeed confusing till they make call to asnb

kenwooi said...

you work in a bank now? =)

jess said...

5th August 2009, I decided to wake up early, bcoz i was the loser to buy the ASM last month. unfortunately i could not wake up even my alarm was ringing, bcoz i was dreaming. in my dream, i was so happy bcoz i jz bought the AS1M finally. Hahaha!!!

Once i reached maybank around 9am, i saw a long long Q, i have giv up & went to take my breakfast. suddenly i recall my dream, i think mayb this is the hint, so i went to maybank & took a number - "99th"!!! aiksss!!! i thought it's impossible to buy it. after tat, i jz went office to work & came back to maybank around 3pm. only 62 applications was processed by 3:15pm. anyway i jz waited for 20 minutes, then was my turn. the ppl who got the number fr 69th to 98th od run away. finally i bought it!!! thx alot to my dream... hahaha!

there was one malay gal who got the 136th also waitng until last minute & she also got the chance to get it...

Modernmum said...

I must thank you for your dated 5th August post, I finally decided to make the purchase and it save me a looooooooooot of times in queueing whenI bought it this morning only.
On the 4th of Aug, I read about AS 1 Malaysia propektus on "capital non guaranteed" It's looks scary and I called up PNB officer for enquiry, however the answer if is very very unsure and it stops me from buying on the first day launching.
After I read Kwong Fei's post of 5th Aug about the actual meaning of the terms, I called up PNB again to ask, luckily the officer this time could answer me clearly, however that was about 4.30pm so I did not rush to bank for the purchase.
This morning, 6th Aug, I went to bank(CIMB Kajang branch) at 11.15am, the number running is 17 and you know what, I go the number 18!There's no queue at all and I get it done in less than 15 minutes.
Thanks for Kwong Fei's contribution and I really appreciate it.

Anonymous said...

Well, i should have known that the response for this AS 1 Malaysia is not as good as ASM or ASW2020. I wanted to invest in the ASM fund opened to the public in July but it was fully subscribed again in a few hours. So this time round, i decided to go to the Pos Office early at around 6.30 am on the day of the fund launch (5th Aug). Had to wait for bout 3 hours plus before i finally manage to buy the AS 1 Malaysia units. Told my friend bout it this morning (6th Aug), and he decided to buy this fund as well. Around lunch time at 1pm, he dropped by the Maybank branch near his office in Bukit Bintang and managed to buy AS 1 Malaysia in 15 minutes!!!!! Besides, the bank officer told him that there's still lots of units available. I really feel like an idiot having to queue up for a few hours. Anyone share the same feeling as me (for those who woke up early to purchase the units on the 1st day)?


KwOnG FeI said...

@ken: no la.. impossible

@jess: wow...congrats..interesting story from your side. Actually, for Malays they need not in rush of buying, 5 billions will take a very long time to finish

@modernmum: it was a great pleasure for me to help clear your doubts. Congrats for being able to purchase~

@anonymous: Well, it is obvious that I do share the same experience as yours. My application get registered in 10 minutes time but need to wait 2hours for fully completion due to network errors. However, I thought post office went smoothly?

The units are still 'in large' to hunt for. As usual, many did not invest because they do not get the clear information about this plan. It is very wrong and confusing for the Maybank officers to have tell no capital guaranteed and price will go up and down based on market value. Instead, they should have say that if the investment make losses, this losses will be bear by all unit holders as well. However, should the investment makes money, this money will come into dividend and the selling price will remain the same. You only will take risks for if the investments are not making money.

kEv!n said...

oops.. i didnt know that u r going to maybank to queue. btw, juz for ur information, d system in this maybank alwaz having prob when it comes to tis kind of situation.. guess wat, i got #17 last time bt my turn came at about 2something.. #17 is included those who went off half way..=>

amy said...

Thanks for sharing, i like your blog =)

ND said...

the minimum investment is 100 unit which is RM100. How can you buy it at RM10 only?

Anonymous said...

Don't tell me U went there pre dawn and q for hours just to invest RM10.00 .....

Anonymous said...

Hey, you have a great blog here! I'm definitely going to bookmark you! Increasing your web traffic and page
views Add, add your website in site, it's pretty awesome too!

Anonymous said...

Hi. Can i confirm with u ?
U said upcoming 1-2weeks,
ASW unsold allocations in last April will be open for sale.

Do u mean that is 1-2weeks after 5 Aug'09 ?
Or 1-2weeks during Sept'09 ??

KwOnG FeI said...

@kevin: NWK ar?

@amy: thanks for your compliment

@ND: Haha..finally some 1 spotted that. Well, actually there was a computer problem. The application was fully registered but dunno why it cannot print on the investment book. So, instead, the bank officer wrote the figure on the book and stamped. So, I asked them safe or not? Then, they suggested me to put rm 10 additional and the figure can then be printed on the book. Haha..what a mess~

@anonymous: is actually 1-2 weeks form 5 August.. but looking into consideration that AS 1M still have a lot unsold allocations, the plan may be put on hold. In my opinion, they april allocation will be upon out within 1 week after the Chinese allocation for AS 1 M sold out. They need money urgently and hence it will be ASAP. Btw they wan to korek all Chinese money and save the local companies accordingly.

ND said...

after i put certain amount of money, can i still continue putting and taken out certain amount of money whenever i want?

KwOnG FeI said...

after u open an account, u need to wait if not mistaken 100 D before you can sell out ur unit.
you need to maintain at least 100 unit in your account to remain active. If you withdraw completely, you are not able to purchase it anymore in the future.
You can buy/sell out units anytime you like. For buying, of course it depends on availability.
All buying and selling is fixed at RM 1. For buying, additional sales charge may be imposed after the initial promotion sales period.

ND said...

thx for ur info. if i buy it frm post office,is it mean tat i ned to sell it at post office or i can go to asnb office or other agents? btw, ASW2020 izit open for non bumiputra?

SP Blogger said...

Is the fund taken out already? Still can buy?

KwOnG FeI said...

@ND: Selling and buying too can be done anywhere. However, I'm doubt if closing account can be do so as well. Like savings account, some might require you to go back to the principal branch. However, I rmb last time I close my Maybank account can be done any other bank but they do specify ' oh Maybank KL ke, boleh lah'. I did not ask further.

@SP blogger: Yea.. you still can buy. My sis just bought today.

Fuck said...
This comment has been removed by a blog administrator.
Mantin Neo said...

I personnally think the returns will be good mainly because it had the words "1 Malaysia" in it. If AS1M fail to generate good returns & income to the public, what will be the public prepective towards the PM slogan of "1 Mayalsia". It will become a big joke then!

KwOnG FeI said...

Agreed to u..
If Wawasan 2020, KLIA, Putrajay, Sepang, KLCC failed in brining goods to the people, the rakyat will perceive it is Tun M fault..
So, even i the investment of AS 1 M suffer losses, PM Najib will do something to overturn it.. as should it fails, it demonstrate failure of his leadership as well
Best example is cemerlang, gemilang & terbilang by Pak Lah.. He failed to prove he is a clean leader and capable PM, so he was pushed to resign an sleep more as what he usually did in meetings.. That failure also the reason why his portraits as well as his slogan were not use in 13th General Election.. Otherwise, we may have seen not 5 but 6-7 states lost grip..

softech said...

Interesting… I might try some of this on my blog, too. It’s quite interesting how you sometimes stop being innovative and just go for an accepted solution without actually trying to improve it… you make a couple of good points.

parttime money

Themes Magento said...

r. As usual, many did not invest because they do not get the clear information about this plan. It is very wrong and confusing for the May bank officers to have tell no capital guaranteed and price will go up and down based on market value.

Anonymous said...

where can we withdraw it?

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