That is right.


I think at Maybank and CIMB, yes. Only 1 staff is doing the whole Amanah Saham thing. But at the RHB branch i went to last week to open my very first ASM account, there were 4 staff handling everything related to ASM.


The world is not fair. What to do I do not agree with what banana did but spare him as he is not the only one doing this. I however agree with him that we must play smart in this super unfair world.

In this case, only the bank can help you by enforcing some rules. For example the CIMB Branch in Api-api Centre Kota Kinabalu has a staff near the number kiosk to make sure 1 number for 1 account transaction or 1 new account opening. So this should make sure their policy on the first come first serve basis.


100% confirmed it won't open to non-Bumiputra. The official confirmation would be PNB official website which clearly states that ASW2020 is 51% reserved for Bumiputra and 49% for non-Bumiputra.


Correct.


LOL ! Agreed. They do look desperate. By doing so they can raise capital without showing they are very needy right now


Usually 15 - 20 days after they release the result.

This post has been edited by MilesAndMore: Apr 27 2009, 06:43 PM

CANNOT


LOL ! Must have quoted the wrong person. Sorry ...

ASG and ASN3 ? I might as well subscribe for one of the many funds offered in Public Mutual.

Why not consider Public Mutual ?

Totally understand your frustration On the bright side, you managed to buy it. Some weren't as lucky though.

This post has been edited by MilesAndMore: Apr 30 2009, 04:10 PM

Too bad Malaysians only seem to know to make fun of Singaporeans about their kiasu mentality without realizing that Malaysians themselves are just as kiasu as Singaporeans and sometimes even worse then Singaporeans

Singaporeans don't care people make fun and which is why we, Malaysia and Malaysians are at least TWO DECADES BEHIND them

This post has been edited by MilesAndMore: May 2 2009, 12:35 PM

The ASM initially allocated to Bumiputra and Indian will be open for Chinese to subscribe in July (assume there are still units available by July).

The correct term should be Bumiputra as Malay is not the sole race recognised as Bumiputra under the Malaysian constitution.

No. This is NOT ASW2020. ASM Bumiputra lot will be open to all other races in July.


Both ASW2020 and ASM are capital guaranteed. Just like ASB. ASM has a minimum return of 5% (according to STAR newspaper_. Not too sure about ASW2020 and ASB.


It's safer i assume.

This post has been edited by MilesAndMore: May 4 2009, 09:27 PM

It is clearly stated that both ASW2020 and ASM are capital guaranteed. Please refer to PNB website.

maximize your savings at ASB before you turn to other capital protected fund such as ASW2020, ASM or ASD.

Only ASM. The ASW2020 quota will remain at 51% for Bumiputra and 49% for Non-Bumiputra. So far the 49% units allocated for Non-Bumiputra has been fully subscribed.


No.

No. It's not. There are other investment products offered overseas that offer good returns just like ASB, ASW2020 and ASM. Ponzi Scheme is a whole different thing, better get your facts right before you make any assumptions

Most of the funds in ASB, ASW2020 and ASM are invested in reputable companies such as Petronas that are making billions of Ringgit every year.

In US, the US treasury is selling trillions worth of government bonds that also offer high return to other goverments. And how about some hedge funds that can offer 20% - 30% return ? The returns of some Hedge Funds are significantly higher than our ASB, ASW2020 or ASM but of course Hedge Funds are off-limit to average joe like us. Are those ponzi scheme ? Again, NO. You've got to be amazed with how things work in the world of finance.

If you really want to talk about Ponzi Scheme, i'd say Sukuk actually sounds more like Ponzi Scheme than any of the funds sold by PNB but i'm pretty sure Sukuk is fully legit and NOT a Ponzi Scheme

This post has been edited by MilesAndMore: Jun 14 2009, 04:21 PM

No. It is NOT TRUE at all. I have been an ASB account holder since 2002 with a capped savings at RM10,000. That was because i was still under 18-year-old then. I was allowed to increase my investment in ASB to a maximum of RM200,000 a few years later.

And for your information, we did not get 10% return since the late 90s. The best return for ASB was 12% or 13% but that was in the early 90s, so my mom said. And things work a bit differently for ASB compared to ASW2020 and ASM. For ASB there are dividend and bonus. The calculation for bonus is based on average of your total fund for the past 10 years. The dividend for last year was 7% only, and 1.75% for bonus. Each account holder will get a full 7% dividend but not the full 1.75% bonus unless you've been holding the same amount of fund in the last 10 years. So the bottom line is that we did not get 10%+ return as you claimed and ASNB also did not say about the 100% confirmed return. Where did you see this thing about 100% confirmed divided every year ? The ASNB only guaranteed that you won't loss your principle, just like many of the principle guaranteed funds out there offered by commercial banks and investment banks.


Just so you know, Bernard Madoff's ponzi scheme also offered his investors a guaranteed return of 5%/pa. Why only 5% ? According to New York Post, he offered only 5% return so people won't get suspicious of the investment scheme he was running

This post has been edited by MilesAndMore: Jun 15 2009, 12:05 AM

Obviosly we need a finance guru to explain about how ASNB works

BNM is interested. So is foreign media. Unlike Ponzi Schemes, ASNB will need to present many supporting documents when they are due to credit dividend to their account holders. This includes the financial report of the companies they invested in. The quarterly as well as the year end consolidated results of the companies etc.

With Ponzi Schemes, it is much less complicated and always have a transparency issue. They will tell you they use your money to invest in many different companies or foreign countries but very often the companies they claim your money is invested in are the companies many have never heard of. Fake financial reports sometimes will be present. The financial market in Malaysia, unlike United States is still very heavily regulated. So your money is safe and ASNB is definitely not a Ponzi Scheme. In fact it works very differently compared to a typical Ponzi Scheme.


This is usually what you'll be told in university but not quite true. Many US traders will tell you otherwise

This post has been edited by MilesAndMore: Jun 18 2009, 07:26 AM

You can open an ASM account either at Pos Office, ASNB Office, Maybank, CIMB Bank or RHB Bank. Bring along your IC. If i'm not mistaken, they only accept cash.

An indirect sign that he has max up his ASB

They are idiots. RHB Bank allows this, no problem.