Nahh... Everything is claimable from LHDN. This is part of CSR and when it comes to CSR, you get back pretty much what you put in

If my useless memory serves me right, the last time they did in KL ASNB couldn't get anywhere near those figures. Even there was once done in Seremban and couldn't get any crowd either

I guess the "sale" of AS1M on the stupid rumor pertaining to 1MDB is over but fret not, knowing how gullible Malaysians are, there should be another AS1M "sale" around the corner for as long as the whole 1MDB is still left uncleared

This post has been edited by hyelbaine: Apr 29 2015, 05:11 PM

Looks like its TH and not PNB is the one that's more associated with 1MDB rather than ASNB's AS1M fund

A new deal for Malaysia

To be honest, it's not really that surprising. TH is not under BNM's CMSA law and neither are they under SC's regulations. Unlike other unit trust companies they're not governed by the same rules such as having all deposits/assets named under a trustee on behalf of depositors.

They're not required to provide annual statements and financial reports to depositors because they're not under SC/FIMM. Depositors at TH have no rights unlike unit trust investors who can request for EGM in the event the quota is met.

TH depositors can scream all they want yet they do not have the same rights as a unit trust investor has. End of story

TH has its own "act". They're answerable to no regulators other than a cabinet minister. Same goes for KWAP and LTAT. That's why you'll never see an annual report of their fund, their investment mandate, heck depositors don't even get an annual statement never mind an annual report.

Actually EPF is the same but they are lot more transparent in their dealings and they do disclose their financial statements to the public. EPF voluntarily submit to regulators such as BNM and SC.

ps: Enough of TH later too much OT kena marah liauw

Adoi, so easy meh just do equation like that. If he bothered to look at ASNB's master prospectus, he will find that most of the fixed priced funds are classified as equity with up to 95% invested in equities or maybe reading the annual report where all the breakdowns of asset allocation are there.

PNB however is a different matter but our money is invested in funds with ASNB, where the assets are in the name of Amanah Raya as the trustee on behalf of unit holders.

TH, EPF, LTAT or KWAP however... Well, I don't know

ps: Despite all his bashing of TH, he too still has money (a lot) saved with them. I was waiting for him to show a pic of himself withdrawing from TH but none so far. That's politicians lah for you

KUALA LUMPUR, May 13 ― Permodalan Nasional Berhad (PNB) has denied an allegation that it purchased sukuk bonds from state-owned 1Malaysia Development Berhad.

In a statement, PNB said that it did not purchase any sukuk bonds from 1MDB, neither did they receive an offer from the debt-ridden company.

PNB denies buying sukuk bonds from 1MDB

So question is, who is the other party that kena "paow" along with Tabung Haji?

Here's the actual press statement released by PNB http://www.pnb.com.my/pdf/pressrelease/PNB-1MDB.pdf

Besides, The Star Biz is not the most reliable in the world. Anyone who has followed AirAsia's numerous corporate financial reporting will know some of the editors aren't the most independent and/or transparent.

Hope the new location has got more parking spaces. Financial institutions in Malaysia have a habit of finding locations where that's near impossible to find a place to park

Yes for PNB but no for ASNB. Our funds are with ASNB and their investment mandate is in the master prospectus and their asset allocation can be found in the annual report.

ps: It's ok if there are still those confused between PNB and ASNB. It was the same for me until a few years ago

That would be the drawback for bumi's I guess. 7% income distribution yet capped at 200k (for initial investment) while the other funds while only giving around 6%, does not limit one's ability to invest.

I did some quick calculations; 200k @ 7% vs 300k @ 6% over 20 years... The latter actually yields you more than the former at the end of 20 years although that wouldn't be a surprised now would it

And yet ASNB gets the blame when people find out about such "syndicates"

He overturned SC by the fact that ASB2 is launched so it's not too shocking at all. I think the bumi's will grab this opportunity. I think ASB would have been the easier choice since ASB's track record clearly outmatches EPF's returns. Assuming that ASB2 can continue the performance in its first year's results, than it would be worth it to migrate a portion of one's funds from EPF to ASB2.

Quick but rather stupid question. If you withdraw from EPF to ASB2, than you would only get dividends from ASB2 right? The EPF's dividend would be less the amount that you withdrew to invest in ASB2.

Persiaran Damai Shah Alam? Didn't know that ASNB has a branch there. I only of ASNB branch in the umno building beside TNB. Unless I got my directions in Shah Alam all wrong than I apologize

Hahahha... OK...My bad but at least now I know the name of that main road

This post has been edited by hyelbaine: Jun 2 2015, 04:07 PM

I think I've said it previously, it's hard to provide returns when the fund size is so huge and yet your investment mandate is so limited. As many of you may or may not be aware, pretty much ALL of ASNB's funds are limited to local securities only. Any change to that would require approvals from unit holders, nominee, regulators and also changes to the master prospectus and also binding deeds.

A lot of people assume as such and don't understand to give 6.6% for a fund that has 10 billion units and give 6.6% for a fund that has 15 billion units is not the same. And don't forget too that regardless of the actual NAV, PNB has to honor the RM1 pledge and unlike other unit trust products, it honors on the spot transactions so no time to pusing2 duit to honor transactions.

So the fund managers must not only ensure that investments meet returns target but also ensure RM1 value is preserved and maintaining sufficient liquidity at the same time for honoring on the spot transactions. If you wonder why EPF is more than happy to allow it's savers to withdraw and invest in other unit trusts, this is one of the biggest reasons.

This post has been edited by hyelbaine: Jun 4 2015, 02:27 PM

It's a double edged sword really. There's argument for both sides of the coin. One of the main reasons our local banks weren't affected by the 2008 financial crisis was it's relatively small/low exposure to foreign debt markets. So in this case, it's a good thing.

The other side is of course when you're unable to invest overseas and yet the local market is yielding pretty much nothing, your options to hunt for yields becomes even harder due to the limited options available. Case in point. Compare KLCI's YTD performance as compared to its regional peers. When you can't diversify it becomes a headache.

For fund managers, asset allocation matters not only in terms of type of assets but also its location and also currency.

It just shocks me how gullible people can be. If only these people understood how unit trust works and stop listening to rumours, they might be able to avoid making such stupid mistakes that some are making right now