Any comment on HONG LEONG BANK POWERLINK FD+Unit Trust fund?

Caveat emptor

Call your RM or call the bank, or go to the branch.

So it looks like more people seeing this problem now.

One of the banks that I asked said 50k min for the DCA. Can't recall which one. But I think they need people to have the PB status before allowing it.

But I thought it is difficult to play this "strike" price. So decided to do the plain old simple way of buying the bank draft or TT when the need comes.

This post has been edited by bbgoat: Aug 12 2015, 02:25 PM

Oh ya, you reminds me that CTB min trade is RM50k.

Since you need USD after all, you are in win win situation. If you never strike, you ringgit still yield better return than FD, eg. 2 weeks trade for £ at spot-0, the interest rate is 10%p.a today. (Sorry, I don't have USD trade info)
You have a 50% chance to strike if you choose spot-0, that means in the event ringgit recover, you ringgit wil be converted to USD at your chosen spot rate + 2weeks 10% interest income.
It doesn't matter if you never strike, you will still earn the 10% interest and at any time you can stop the trade and buy USD the plain old way when the need comes.

Most banks I knew offer DCA with min 250K.

If you need USD in the near term, it is best time to enter DCA with recent volatility in the market, you have nothing to lose if you really need the USD.

Initially I wanted to get into DCA. But after asking around including asking our Captain on this, he told me he also do the bank draft and TT type of transferring fund for his kid in the U.S.

Also I may need large amount about twice a year for the fees. Then on/off for some other expenses. Don't quite like the playing the strike price type of DCA. Also the amt has to be large 50k, 100k depending on the banks.

I think one has to hold PB status before bank allow us to do DCA. That will need 200k/250k onwards for the acct in thebanks.

I have asked CB, SCB, OCBC, UOB on this DCA before. I think most of them are 100k and above though I think one of them say 50k. I may be wrong. That was several months ago. I then decided to forget about it as buying bank draft or TT is more straight forward.

Don't quite like the strike price and the future date. The FD rate offered also varies with the strike price and future date.

Anyway I play it simple.

This post has been edited by bbgoat: Aug 12 2015, 03:54 PM

CB is now quoting TT rate for USD at RM 4.0645. On Monday I bought at RM 3.9590. A difference of about 0.1. That is some k difference for the amt I bought. Luckily I did it on Monday. The volatility is scarely.

How this will affect the economy and then OPR and FD wait to be seen.

Will OPR going to reduce as expecting in September?

Yea I have placed some there. If you withdraw early yes there will be deduction from the principle amount against the interest which you have received earlier.

if they reduce, Ringgit will shrink further,
if they increase, KLSE will drop further.
Either way, its great for those who hold 700 million USD.

Affin bank pays RM255m for 0.51ha of land in TRX.

Not the bank but its group company

The paper stated Affin Bank Berhad.
http://www.thestar.com.my/Business/Busines...land/?style=biz

It works out to about RM4699 per sqft.

This post has been edited by aeiou228: Aug 12 2015, 09:28 PM

My simple thoughts (based on my very limited knowledge in economics) ...

With MYR dropping, inflation will go up. When inflation goes up, interest rate will follow .. which might reduce foreigners selling MYR assets.
If BNM is to reduce interest rate, MYR will drop further as foreigners will sell more .. then MYR drop further.

Any comments from experts?

Meaning affin bank will have long term fd promo soon...haha

Today's evening news paper headline is really spine-chilling.

As the matter of fact, Affin's 4.33% 15mths FD is the highest among commercial banks.

Still not looking for affin due to branch location hard to get parking , I'm more prefer OCBC , RHB and BR

I got similar amount of money to place FD like u last week. I split it into 3 bank to be safe.

Maybank 3+3+3 promo FD
PB 6+6 Promo FD
Ambank 9 month FD promo.

All the rate hovering around 4.0-4.1%

hope it helps

Interest rate up ---> slowdown the economy, as loan become expensive.
A slow or poor economy condition --> weak currency.
Weak currency --> import bill goes up --> inflation --> raise rate again?

If like that vicious cycle looping, not something wise to do.