ASM declares 7.8 sen income distribution

KUALA LUMPUR: Amanah Saham Nasional Bhd has declared a higher income distribution of 7.8 sen per unit for its Amanah Saham Malaysia (ASM) for financial year ending March 31, 2008 from 6.8 sen previously.

Permodalan Nasional Berhad's (PNB) chairman Tan Sri Ahmad Sarji Abdul Hamid said the income distribution would involve a total payout of RM450.78 million, up by 61.3 per cent from RM279.47 million last year.

"The income distribution will be reinvested in additional units of ASM, to be automatically credited into the unit holders' accounts on Apr 1, 2008," he said in announcing the income distribution here today.

PNB said up until March 26, 2008, ASM has recorded a 55.59 per cent increase in gross income to RM534.52 million from RM343.55 million in the financial year ended March 31, 2007.

"Dividend income from investments made throughout the year contributed RM236.03 million, or 44.16 per cent, of the gross income.
"Profit from the sale of shares contributed RM215.04 million, or 40.23 per cent, and the remaining income of RM83.45 million, or 15.61 per cent, was derived from investments in short-term investments," it said.

Launched in 2002, ASM, which is an Equity-Income Fund, is aimed at providing unit holders with a long-term investment opportunity that generates regular and competitive returns through a diversified portfolio of investments.

Up until March 26, 2008, 314,608 unit holders have invested in a total of 5.78 billion units of ASM.



This post has been edited by sweeyin: Mar 28 2008, 08:41 AM