in defense, the tongkat is actually for the banks

u know only a handful of banks offer the ASB financing - maybank (GLC), cimb (pm punya ...) and rhb (connected)

why do i say so?

let's assume their financing is BLR - 1.7%

and ASB dividend is at 7.7%

in summary,

banks get: 4.9%
consumer get: 2.8%

so both wins, right?

wrong. factor in inflation at 3.0% annually

the consumer's RM worth in ASB secured by financing from these banks are actually -0.2% worth less than the year before

the bank is winning big time

makes you think, for whom the tongkat is

1) Consumer 2.8% x200,000 = RM5600pa. dividend income
2) Or 0% on 0 investment amount = 0 dividend income.

You need to "let the bank win" in order to get the dividend of 5600 as in scenario 1, if you afraid bank wining you will get zero sum gain as in scenario 2.

In the capitalist system, banks always win and never loose, scenario 1 is u r using OPM to invest, bank charge u 4.9% but they need to pay 3% to fixed depositors as their cost of funds. Banks net gain is less than 2%.

But as u highlighted earlier, if u have limited loan capacity, should prioritise your mortgage, car loan basic necessitirs first, then only consider about ASB loan.

For those who don't take loan but are conservative instead of putting money in FD they get better returns in ASB cos they have this 'privilege' (but not so lucky if they are non-bumi, conservative and retired and FD is one of their choices).
After 44 years, schemes like these should be open to the needy (same for house buying, discount should be given for houses below certain value but in Johor a bumi lot bungalow of rm4mil get a 15% discount of rm600k!!)

Banks get 4.9% but they borrowed funds (thru FD, CASA, ...) so net returns not that great but banks have the volume.

If 'factor in inflation at 3.0% (I think it is higher) annually and the consumer's RM worth in ASB secured by financing from these banks are actually -0.2% worth less than the year before', so instead of helping bumi investors they are actually victimised?

This post has been edited by MGM: Apr 15 2014, 03:27 PM

The bold part I agree. Why help those already rich to become richer with "tongkat". Should help those needy & middle class people who are suffering silently

This post has been edited by davinz18: Apr 15 2014, 03:43 PM

Political motive driven.
To get more support from Urban bumis middle income groups.

Hi, noob question here, when does the return of ASB is officially registered for min monthly balance ya? both the dividend and bonus. Is it in Jan/Feb/March of the following year?

Note, I am building a google drive calculator,

On 1st Jan of every year

So, the minimum balance for January is with the previous year's dividend & bonus, right?

Yup coz ASNB will credit dividend n bonus on 1/1/2014 subject to u dun withdraw any sum in Jan 2014

Temporary suspension of ASG transaction
http://www.asnb.com.my/poster_penangguhan/2014ASG_EN.pdf

Notice - ASG Unit Holders
http://www.asnb.com.my/notispenting/NotisToUH.pdf

New Account number for ASG unitholders from 20 April onwards (currently from 9 digits to new 12 digits).
The new account number is for individual who use own money (passbook). EPF one is exempted

Rather quiet here.

Any update from those topping up your ASX? For me, very little, only RM 30 and RM50 for ASM.

I guess there is a monthly cycle on the units availability, people selling theirs at the end and start of the month.

Cheerio.

Just back from Post office, 1k top-up, very easy to get...the staffs tried within few times got it...450+550, go try for your son again~

I tried early this afternoon. Result = 0.00

Your timing for the ASX is very good!

Cheerio.

I either go around 10++am or 3++pm coz most of the working adults won't be able to go post office at this time, thus I compete with lesser ppl (i guess)

It's all depend on your luck, Timing & units availability. Not everyday u can get



Congrats bro. u seem to have lady luck on your side every-time u "try"

PNB hotels offers attractive tourism products for MSAM 2014
http://www.nst.com.my/business/latest/pnb-...m-2014-1.570799

Congrats bro. u seem to have lady luck on your side every-time u "try"

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Thanks bro, I have times where it is zero strike rate too, just relatively lesser~hehe

PS : Yes, damn surprised by the news...a great lost to Malaysian, hope he will RIP (and his assistant too)

I went to tiger bank today to do some transaction. while I'm waiting for my number, I saw one auntie asking the counter staff to try luck for ASx. I saw some red & gold colour passbook. u know what happen. The counter staff rudely told her that they cannot do any transaction because some problem & ask her to go somewhere else. The thing is just before she ask (less than 5min), I saw one makcik doing ASB transaction!