Article in The Edge for next week
BNM may abolish ASB financing to curb personal financing

PM just announce ASB2 today, maybe the abolistment of ASB will not happen

how if abolish, is it the while fund gone zero by returning to holders?

he is saying asb financing loan will be abolished

not the asb fund itself

They are talking about the cancelation of ASB Financing.
ASB will not abolished.

meaning no new ppl can apply for that but good for those existing one.

Bingo

ASB loan abolishment was the suggestion from BNM to cut the individual personal loan exposure
the ASB2 was just announced today by PM.
usually PM decision can override BNM decision, as BNM reports to MOF, and Minister of MOF is appointed by PM.

I gotta feeling Gomen "lack of fund" thus Introducing new investment scheme (in the name of helping the "needy" community)

Funds raise will goes to KLCI (assume 70%)
KLCI will goes North
Win-win situation for all parties

Good point

So we can expect more "upside" on Bursa esp the 30 CI link shares

This post has been edited by davinz18: Sep 15 2013, 12:37 AM

Govt needs more fund for HUGE Projects ... dunno good news or bad news ?

as long as they find a way to give the investors a 8% return, it's good news to the bumiputra

but i do feel weird as to why the need of ASB2 when ASB has never and can never be fully subsrcibed by bumiputra?

any hidden agenda?

even AS1M (bumi quota) is not yet fully subscribed


if they really want funds for HUGE projects, they'd be better open additional funds for AS1M, ASM or ASW. the non bumi will line up the banks with cash ready in hand

i smell something fishy. but i also smell huge dividends. waiting to transfer all AS1M money into ASB2 once i get some insider info from my bankers...

Not for huge projects
To please members in anticipation of UMNO general assembly

But I do believe that cutting expenditure and finding other revenue stream will help to finance huge projects.. Why cant the gov create a certain percentage to please the UMNO general percentage rather than you know.. But cant they control the extraction rate from within itself..

that makes sense...

asb2 is for bumi who have maxed out asb1,simple as that, i also want to park more than the limit of 200k(own fund) in asb1. This can definitely win the heart of middle class bumi like me

And me

ASB have some kind of premium "brand" among people. People look up towards ASB. I expect ASB 2 could be fully subscribe within 1-2 years (take-up rate would be even faster if banks offer ASB 2 Loans)

With this, I don't think anytime soon all those unsold Bumi units in ASW & AS1M would be sold out.

Based on my observation & some research. I managed to come with few conclusion.

1 - AS1M unsold units would be "released" to all
2 - New Amanah Saham with no racial quota
3 - Savings Sukuk with 5% pa
4 - ASM additional unit (Maybe 1 - 2bil with no racial quota)

All these are to "fund" the gomen projects, maybe for the upcoming $ 3B Mega IPO & others