The eight PRS Providers approved by SC so far are:

AmInvestment Management Sdn Bhd,
American International Assurance Bhd,
CIMB-Principal Asset Management Bhd,
Hwang Investment Management Bhd,
ING Funds Bhd;
Manulife Unit Trust Bhd,
Public Mutual Bhd, and
RHB Investment Management Sdn Bhd.

For ING Funds, currently we not yet have any product that is under PRS since the approval was just announced this month. Probably will take 2 to 3 months before we can launch a product that is suitable for PRS.

Good things are worth the wait!


Regards,
Gavin Lim from ING

Hi all,

If anyone is interested to read a FAQ on PRS, please see my file attached.

By the way, SC was announced the eligibility requirements as a PRS Provider on last December, and the INITIAL LIST of 8 approved PRS Providers was announced about 2 weeks ago. I wonder how a company can come out with a plan which comply with the latest PRS guideline so fast? Some more the company is still not yet listed in the INITIAL LIST.

Some company may already have some deferred annuity products. However, these products are definitely NOT ELIGIBLE for the tax incentives under PRS Scheme. The company should seek for SC's approval as a PRS Provider first, then will be given 6 months to comply with the conditions of their approval, which includes obtaining SC's approval for their schemes and funds under their PRS.

andy_lyy, if what you said is true, would you kindly provide some proof? People will listen to you if you have newspaper or any trustworthy source of info to support what you said.