Seems that the AHB has already been launched with maximum investment of RM 200,000. Its similar to Amanah Saham Bumiputera (ASB) but only open to Bumi. My query is will it be open to everybody who already has ASB? HOw do they determine Bumi status?

Yes ASB is already maxed out since last year. AHB returns only 6% ah?

Read my question again please. I asked if those with ASB will get automatic qualification for AHB.

Aiyoo...i asked if with the ASB does it mean automatic qualification for the AHB or not. There are 2 types of Bumi status in Malaysia ok.

1) Malay Muslim Bumi
2) Bumi of Siamese, Dutch or Portuguese decent but non Muslim

ASB is open to both. IM asking if the AHB is the same or is it only restricted to Malay Muslims.

The rule is minimum 6%. There is no upper limit specified. It could be quite high since its based on prime property investment in Malaysia.

By the way, what is the other similar Bumi fund? I have maxed out my current ASB already.

Yes i know but where do i get the actual info from?

Im not refering to the technical meaning of Bumiputera. Im refering to what PNB classifies as Bumi. For ASB for the groups above are entitled. But when u talk about property, the a different version of Bumiputera applies.

Thats why im asking for for the Bumi classification for the AHB ownership. Will it follow the ASB or a different criteria?

ASB classifies Portuguese and Siamese as Bumi to get ASB. Should be the same for AHB rite?

Im not really bothered about who gets Bumi status. Im just asking that since people of Siamese or Portuguese descent do qualify for ASB, do they also qualify for AHB?

This post has been edited by cybermaster98: Nov 30 2010, 02:43 PM

This AHB is mainly for the higher income Malays e.g our politicians and tycoons. U know why i say this? Just look at ASB. How many average Malays have maxed out their accounts? Most of them dont even use ASB much. Only a small majority don't save in ASB because of the Shariah issue. The main reason for the others is because saving money is not in their nature. So if they havent even utilised the ASB with higher returns, whats the point of AHB??? In reality its merely for the richer Malays to invest more and make more money. In the end, the average Malays are still left out and the income gap widens. Truly 1 Malaysia!

Do u know how many in the 200K above bracket??

I dont think so as there is no minimum guaranteed dividend.

Do u have a weakness in understanding? Im talking about the SAME issue. Only a handful of Malays save in ASB. I dont care about the rich and im not blaming anybody. Im refering to the middle income and lower income groups who are not saving enough choosing instead to spend more.

I dont think the dividends will be better than ASB. Even if it would be better, it would only benefit a small group of Malays anyway.

I find this idealogy weird. If a Muslim can claim that ASB is not Shariah compliant, then why is she accepting the dividends from EPF then? Is EPF Shariah compliant? Many of these Muslims claim they wont invest in ASB cuz of the Shariah issue, but find it ok to invest in Gold Savings Accounts?

There is a choice. The saving of money in EPF is not against Shariah laws but accepting the dividends is. So reduce the dividends by using the EPF money for house purchases and computer withdrawals or whatever that EPF allows for. Why keep more money in there to earn more dividends?

How many Malays who have invested in Gold Savings Accounts actually withdraw in gold bullion? Most (if not all) prefer to get the profits in cash. Even i do. And even if they withdraw the Gold bullion, its also considered haram by Shariah law since the gold bullion is a result of profits gained which are about 15% per annum based on current prices. If ASB is haram then Gold Bullion should be the same.

Im not here to educate anybody about Shariah law. Im just not in favour of double standards especially when it comes to religious beliefs. Most ppl pick and choose which part of religion to follow when it should be all and sundry. I also think its silly to bring Shariah into every damn aspect of our lives. I think that if you really wanna do the right thing, then use the returns from interest or dividends to help the poor. Shariah law in itself is pure and encompases many important aspects in Islam. Its those so called 'religious experts' who damage the true meaning of it.

Max investment is 200K but if you include dividends then the overall limit can increase.

No such thing. The max invested amount is RM 200K but the dividends can accumulate unlimited. Dividends are always paid out based on the your total balance regardless of the amount. There is no 200K cap on the dividends. Ive maxed out my ASB since Jan 2009 and my balance is much more than 200K. My dividends have always been based on the total balance.

The 200K is the maximum amount you can physically invest in the account. Your dividends will accumulate over time assuming you do not make any withdrawals and this is unlimited.

But i also know that there are some 'influencial' ppl who have managed to raise the maximum invested amount far beyond the 200K.

If u say uve been all over the world, then why say we're lucky cuz we havent died of starvation? If uve been all over then ull be also comparing with countries that are BETTER than us and see how we can achive their status instead of blindly following wht the Gov has been brainwashing us with all these years.

If we are chasing the developed nation status then we should be comparing ourselves with Europe, UK and Australia and emulating whats good from them instead of continously comparing ourselves with Somalia and Zimbabwe and saying that we are lucky.