if got people sold, then you can buy the available units.

wow..maybank staff in kl sentral really got attitude problem.. ask them for as1m form, they totally ignored me like i'm idiot.. even though i know that their system got problem again... dun wanna mention race.. afters become racists..

yes all sold out, even bumi quota also sold out. As the 1.6b bumi quota that released to non-bumi already fully taken up.

Many Maybank staff got attitude problem, not just the KL Sentral branch

I took the forms from Maybank Satok as I was doing something there, went back home, then went to Maybank at Jalan Laksamana Cheng Ho to open account. They say no more AS1M books so cannot open! Luckily I was there for some other reason.....

Not only in KL Sentral, all the branch in malaysia have same problems.... My place even worse, they see people, if they have "big account" at the branch, they will be getting something "extra services" like VIP passage for opening unit trust, sukuk, etc. which means even you 1st person in the bank to open unit trust, these "VIP" transaction will be first to process then only others. They will halt the transaction for unit trust for people waiting in bank and give this "VIP" first. They will say system down, etc. only after 20 - 40 minutes then others can do the unit trust transaction.... Think about it... My parents told me this when they are waiting to open asw 2020 recently. This branch in rural area....

Maybank in Penang Queensbay Mall have good service. When people open for ASx they take your IC and photostat for you. And Thumb print everything with you during the line up. Yes they don't give number during that time so that there is no people can cheat queue. (Like aunty taking number for friend before they came or something like that). What I like most is they open during weekends also... ( that branch only)

Some how CIMB not good here. They cop every form and you cannot use it other then CIMB that Branch ONLY.

weekend also can do??

i go post opis yesterday but they say as1m can only buy weekdays

mch...so now i dun wan buy

only available from Monday to Friday

went to open AS1M acct this afternoon, surprisingly no ppl buying! straight go counter fill in the form and all settle within 10 minutes.

chked with the staff, apparently only long queue on the first day, after that kinda cool off unlike the ASN or the 2020 one.

hmmm, wondering why, may it be due to the outside rumour that there's purchase price that u need to pay? i can tell u that no need to pay a single cent.

proof that the rakyat has felt that they have lent the gov. enough money. asm, asw, sukuk, as1m, how much would that total up to? i bet enough to run 1-2 mega projects.

I think this is down to several reason:

1. Previously few months, there are massive capital raising exercise from Bond Simpanan Merdake, Sukuk, ASM which at least suck in 10 billion of fund or FD in the market. While this AS1M comes in late, people might not that eager for it anymore and could stress in funding for individual.

2. The fund size of AS1M is extra-ordinary large i.e. 10 billion, which previously month of ASM only 2-3 billion if not mistaken. Even the 5% Sukuk come in around 2.5 billion only.
If fund size of AS1M is 2 billion or so, now almost near full already.

3. This fund is relative new compared to ASM, ASW or sukuk that carries 5%, so people might wary about the fund performance. It doesn't help people spread some rumour that the fund only pay 4% which is not the real case here. But a lot of non-investment savy people out there just heard the 4%, all turn back or not having high interest anymore.

1) Agree, young working people might not put money into this due to cash flow problem. ASW, ASM, and sukuk will add up total 60k (another 20k for ASM bumi released shares) if one successfully buy all of them.

2) I dont think so, if just 2 billion...only the chinese quota is full, but it will certainly create a 'kiasu' attitude and might fully taken when the bumi shares is released.

3) Not just the 4%, there are other reasons given from my friends. Among them are
a) Government borrow money (from chinese) to feed corruption
b) No capital protected, more risk than other PNB funds
c) 1% charges, even lower than sukuk if only give 5% dividend
d) Wait and See approach, i dont really understand what that means. I think is related to kiasu attitude, if this fund is selling hot, they will go buy too.

So if I were to withdraw at anytime after this offer period, would there be any charges?

depends after the offer period , they will say whether any 1% sales charge imposed or not ..

You have highlighted some good points here.

"Wait and See" probably means

a) they want to see how much dividen pay out for the 1st year, only then decided whether to buy on the 2nd year.
b) Government did not indicate which area/industry they want to invest in from fund generated from AS1M, so after 1 year with the annual report, only we know where the fund investing in. Now noone have clue where the fund will be investing in.
c) since only 1.4bil out of 10bil sold as at last friday, so there are still plenty of opportunity to invest. ASNB calculate dividen from 1st of the month, even if u buy now the dividen only start calculate from 1st of Sept (monthly rest), since there are so many funds still available, better park the fund somewhere to gain daily interest, only buy it end of the month or on 1st of Sept. Then buy the 2nd round -bumi released quota after 3rd sept.

1% charges, even lower than sukuk if only give 5% dividend <----- PNB, knowing chinese is very kiasu type, impose this surcharge after the promotional period, so that those interested will rush to pump in their money b4 the promotional period ended. if response still not good, PNB may waive the 1% charge, i guess.

This post has been edited by cheahcw2003: Aug 11 2009, 11:41 AM

'kiasu',??, 'wait n see'?? Hold or buy later??
After all the opinions and points raised,
How about trusting your guts?
Although the whole world thinks it is illogical and
irrational, listen to your instincts. Mine tells me to wait.

a) Sorry, I don't agree on this issue , (not to say no corruption or got), but if really for corruption conspiracy theory, they can tap it everywhere, from ASM, ASW, Sukuk, or even EPF, I don't know why people say this fund/AS1M as borrow money for corruption but not other funds like ASM a month ago. Doesn't make sense.

If said this fund is new and have low confidence, still make sense. But to say AS1M means for borrow money for corruption while ASM, ASW and EPF money is not, sounds not logic.

b) The risk as same with ASB, ASM, ASW, as are at fixed price at Rm1.00

Wait and see probably means they would like to see how this AS1M performs after 1 year. If the return is great, then many people will also go crazy for AS1M.

Remember when ASW2020 and ASM were introduced, response was not so great too.

I wonder which AS is capital protected?