1. Fund Houses e.g. AmInvestment Services Berhad, HwangIM etc (NOT the Fund Distributor e.g. FSM) typically take about 1 up to possibly 4 weeks to allocate and credit the distribution to unitholders. But u need not worry about the delay, as long as u are holding units prior to ex-date, u will get the distribution, this timing is purely administrative, won't affect your investment value in any way.

2. "Fund made distribution...my holdings not updated...now my holding shows a big negative..."
The following example will illustrate what happens when a fund makes a distribution.

Fund price prior to ex-date: RM1.0000
Distribution: 10 sen per unit
U hold 1,000 units
Fund price at ex-date: RM0.9000
U STILL hold 1,000 units as the Fund House haven't allocated the distribution to u
Account value now: 1,000 units x RM0.9000 = RM900
The "missing" RM100 (10 sen x 1,000 units) is yours, no one is taking that away from u, just that they need to do some admin work on the distribution. After that your investment value will return to "normal".

As explained at Post #1, distribution is merely "left hand go right hand", as a fund declare distribution, the NAV price will automatically "drop" by equivalent amount on ex-date.

Hope that I explained clearly.