I am working for NGO that help goverment giving out this aid. This aid is given by KPKT to the poor .. average household income below RM740 or RM185 per capita regardless of race or religion.

1) The units are not actually "given" to the poor. What's actually done is that each family is "allocated/tagged" with 10,000 units ASW by PNB. Each given a cert "sijil" ASW. They are not allowed to sell their units...but they can only collect the dividends.

2) As stated above, its not AS1M its ASW. The goverment "buys" 100Mil unit worth of ASW from PNB.

Sorry for my poor English. Hope this answer your question.

Thanks for the input , really appreciate it.

Its under Program Pembangunan Raknyat Termiskin (PPRT) example on ASB



http://www.epu.gov.my/html/themes/epu/imag..._cont_chap4.pdf

my questions

1) how is it possible ASW for non-bumi still available
2) if not available, doesnt that mean only poor bumis received such aid from government

i wasnt playing any racial cards here, but poor doesnt limit to bumi only

How much is the divident for ASW2020?

Ermm?? It's ASW? The newspaper certainly mentions "Amanah Saham Shares" but not specific enough abt which shares they're giving. I thought it's most likely refer to AS1M? Well, we will see more detail from the coming news....

Anyway, thanks for your info too.

---

Added on September 1, 2009, 1:49 pmerm... I think anyone who fulfill the requirements are entitle to receive the shares.

Here are some of the requirement:
- income below Rm750
- limited to 10,000 person only
- can't withdraw the shares, only receive the dividends.



This post has been edited by ayumiya: Sep 1 2009, 01:49 PM

My guess it will be AS1M, and not ASW. Its Najib era now.

i also think the same, ASW non-bumi quota already fully taken up. If the government wants to help the poor regardless of race, with 1Malaysia concept, AS1M is more suitable.

another possible way, poor bumi will be given ASW, poor non-bumi is given AS1M...

You have very kindly answered your own question re my point ...or was that supposed to be a rhetoric question??

My point was really like what u said..

Does PNB have authority/power to give away units which will dilute unit holders' value in the fund?? My guess is, there is none.
If that is the case, then the govt must purchase the units from PNB to do their charity work. In this instance, unit holders' interest will not be compromised.

The announcement of the freebie units is made almost at the same time of news of the poor take-up rate of A1SM. It is normal for the market to assume that the fund in question is A1SM...much like the knee jerk reaction by PNB/govt to push take-up rate of A1SM.

The non availability of non-bumi units in ASW should not be too great a concern for the planned distribution of the freebie units to target group irregardless of race. If the unsold bumi quotas for bumi buyers in ASM can be released for sale to non-bumi, what is the problem for PNB to make a similar decision? This way, PNB gets to sell the units reserved for the bumi buyers who are not forth coming, bumi electorate is not offended ( as opposed to bumi quotas being released to non- bumi)...govt gains political mileage.

This post has been edited by ??!!: Sep 2 2009, 12:36 AM

hi guys, going a bit out of the current discussion.

This is my situation,I was born outside malaysia. I opened an ASB account once. then it was rejected and the money was refunded, something about my birthplace not being malaysia (cant remember the exact contents of the letter, was a while back). Mom and dad are malaysian, Malaysian IC and birth cert,

So im wondering if anyone who has encountered this can advise me on what to do to get my ASB account. Hope to get more info here before actually going to the ASB office.

thx in advance

Bumi born outside of Malaysia is not a bumi ?
Maybe you should re-check your bumi status on your IC using the IC reader. As long as you are a proven bumi, I don't see any reason why you can't buy ASB.

6.3% FOR THIS YEAR

bumi born outside malaysia also eligible to invest. you can check the pnb website at www.asnb.com.my under the Eligibility Q&A session, it has clear description on eligibility to invest for Malaysian born outside malaysia

I got friends, at least 2 who are born outside Malaysia and have ASB account.

Here is the link to eligibility:
http://www.asnb.com.my/english/eligibility.htm

This post has been edited by vergas: Sep 2 2009, 03:24 PM

I fall under this category in that link.

Q4 Why my account has been tagged as Eligibility Unit Holder?

This post has been edited by plankton: Sep 2 2009, 04:28 PM

What is the reason quoted for your ineligibility?
Are they questioning your bumi status or is there certain category of bumis who are not eligible for these funds?

(Aahhh....Animal Farm comes to mind ) ...where ALL **** ARE EQUAL. BUT SOME **** ARE MORE EQUAL THAN OTHERS"

This post has been edited by ??!!: Sep 2 2009, 07:48 PM

Article in the The Star says that the original 30-day offer period ends on 4 Sept.. Does this mean we can top up on 4 Sept, or we have do it on the next day on 5 Sept ?

Taken from their web:



My reason must have been : new open accounts that are suspicious because of "5. Born outside Malaysia".

btw, just went their office this morn, verified using birth cert n IC, filled in a form, then needed to get Wang Pos. Unfortunately the nearby post office only opens at 10 . gonna have to go out again later today to settle this.

Starting from 4th Sep, the subscription of AS1M units has no limit subject to availability and races allocation.