Follow up from my frustrating experience yesterday.

Called the ASNB here. Initially I was told that I could not buy ASM due to system upgrading. I explained the ASNB memo on ASN (1-5 Apr) and ASX (5 Apr). Then she said with the system upgrading, it would be slow in getting ASM.

First it is this, later that. Reminds me of MAS (Mana Ada System)!

Asked about going to banks and was told it would be the same with the slow speed.

Giving up. Now they don't deserve the title of being the branch with the highest ASX transactions in Malaysia! Ha.

How much service charges (i.e. %) u pay?
No new units from ASM other than withdrawal by existing unit holders

Still std 5%. Last year promo by RHB better, 2.5% only.

KPI failed for the staff & Branch

Returns from fixed n variable price Funds will be affected by GST
http://www.asnb.com.my/pdf/NOTISPENTING/Su...disclaimer).pdf

Bad news guys..
1MDB energy unit focuses on company’s IPO again.
there's goes your ASx money

http://www.themalaymailonline.com/money/ar...d-potential-inv

To clarify, RHB officer told me need to pay 6% GST on the 5% sales charge. Their promo Apr 1 to end of June 2015.

Bad news!

I think for the fixed price ASX, the impact will be minimum as there is no sales charge etc.

Only the management fees, trustee fees, etc. 6% of these fees will go to govt and thereby increasing these operating costs by 6%?

Cheerio.

Let the hunting begin than

I did a quick check using AS1M annual report on the impact of GST on mgt fee.

The extra 6% on mgt fee equates to about 1% drop in nett profit and a drop of about 0.1% in dividend rate.

I think the overall dividend rate drop will be more than 0.1% due to the 6% GST on other operating costs.

Hope it will not set back by more than 0.2% when compared with before GST.

My 2 cents.

ASNB need to work harder to generate xtra 0.1% to 0.2% to cover GST cost

So, we still pay the normal 5% and it is inclusive the GST?

Damn I pening ad this thing.

CIMB seems so easy, 1 shot got 8k ASM, no more money , otherwise i think can get more. feel like buying it for you guys who dont seem to be able to get, just treat KFC cukup la...

Variable price funds investors will be badly hit.
Assuming every RM1000 worth of investment, 5% sales charge involved. Hence, RM50 goes to the fund manager. And RM3 (6% of RM50) goes to the government.
Meaning U pump in gross RM1000, only RM947 goes to the investment. The rest goes to PNB/IRB.

Consumer/ investors are the one who absorbs the 6%

Is this for depositing time or withdrawing time? Does it affeect the payment of the dividen?

U kena 6% gst when u purchase variable price fund.
Dividend distribution are tax exempted for asnb's fixed price fund.

How about variable fund like ASG? Will the dividen be charge 6%?

Problem is I am in an under developed town where I still do not know which banks here have upgraded their system for ASM (except ASNB but they raised the you-know-what excuse).

KFC for ASNB? I will be seeing IXP for all-encompassing "sedation" charge. Ha.

We have to pay the 6% on top of the 5%. So if SC RM100, then we pay add'l RM6. Total RM106 from our pocket.

This post has been edited by bbgoat: Apr 2 2015, 07:17 PM