I don't like when the banks would send all kind of "rubbish" to me. Offering me Insurance (they even given me insurance account number), calling me on my h/phone, Pre-Approved card etc.

Anyway, it's good decision to use your 100k loan to invest in as1m. ASB already max out? What my understanding, those already max ASB would be investing in as1m

Enjoy your dividend compounding effect after few years

quite some time max liao

defintiely > 200k since all the dividends pile up

i am not too fond of the idea owing anyone's money

Is AS1M still available?

good2

for bumiputra quota, yes. always available

thanks for the reply.. may i know what is the max quota for bumi? is it 200k like ASB?

i don't think so

as long as the units are still available, u can subscribe

thanks for the reply..

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This post has been edited by davinz18: Jul 2 2013, 04:55 PM

Just looking at old thread V2. Saw a lot of people commented that AS1M Non-Bumi portion won't be sold out, expected dividend rate only 4%, suspicious why gomen open so many scheme etc. That time a lot of people don't wanna invest.

Now year 2013, AS1M non-bumi portion already sold out. Some people are going to the ASNB offices & banks daily to ask if there's any unit available. No one expected this scheme to be sold out

If those people (who complained initially) ever read the quote by Buffet in your signature, they wouldn't be in such a predicament eh? hehehehe

Yape, I managed to pump in most of my monies into the AS1M account during the time where everyone is so negative about the fund..

Unfortunately, when the fund first declare the dividend, everyone of the non-bumi rushed in to invest, making it full now..

As for ASW2020, I did not have the account so i dont even have the chance to trial and error at the counter unlike ASM and AS1M which I have the account and can try over the counter..

that's why i feel sad for my fello bumiputra friends

got money, go buy cars, hp and gadgets, holidays, vacations, and other tangible purchases

don't want to invest in AS1M, let alone ASB. others are fighting for the tiny funds left from the non-bumi quota...

Cant help it - need to show off to relative and neighbors

most of the time.. biar papa asal bergaya..

just came back from maybank....first intention to apply for 2nd housing loan
and suddenly switch to asb loan....accidentally applied for 50k asb loan...hopefully everything will be ok

It's a malaise affecting the Malays in my books. To be fair, those who were part of the baby boomers generation were awesome savers. The savings rate back in the day was easily triple to what it is today. I guess these generation knew how hard money was to come by and wanted to be sure that every single cent is made to work just as hard for them.

However, it would be quite simplistic to generalize that all Malays save poorly. I think because in general the majority of Malaysians are Malays, even if 1% of the entire Malay population have little or zero financial literacy, the number can easily look very big. What I've realized is that financial literacy is highest among the Chinese but that too, only in the Gen-X age group. This generation still went through a rather "tough" growing up phase where wealth was still quite limited.

Gen-Y and millennials however are a different story. These are the one's where wealth has already been built-in to their respective families and the story of "how hard it was to make money" may not have been repeated nor felt by them. Ask any UTMC and they will tell you that these age-groups represent the smallest number of customers (exclude amount in comparison) compared to the other age groups. Some may say that this is due to the fact that they don't have much to save but I'm of the opinion that these people do not see the reason to save and/or invest because wealth seems to be already part of their lives.

When it comes to these age groups, savings rate are at an all time low while private/personal debt levels are the inverse of the former. Again, just my 2 cents based on my own personal observation and hypothesis.

u can always cancel the ASB loan anytime after 2 yrs w/o any penalty

before this you can cancel anytime w/o any penalty

actually, it's not just malays, i was referring to bumiputras as a whole - ibans, bidayuh, kadazan, melanau included

not taking dvantage of the ASB

don't understand
both argument same meaning
what the differences after and before

This post has been edited by anz87: Jul 3 2013, 03:25 PM