If u know how to use ODASW, spot on!!
But based on the current shrinking return of ASW dividend and increasing in OD rate. Not worth to do the ODASW.
I have discontinue 5 OD accounts pledged against ASW.

Overdraft against ASW.

Last time ASW could be in the form of certificate and pledge to the bank for OD facility, 5 years ago, BLR was 5.5% and OD interest rate can get up to BLR-2% (for my case), so net OD rate was 3.5% compared to ASW which was 6.6% in average. Therefore there is a gap on the cost of fund and the return in ASW.

So there are some ppl see the opportunity. There were many ppl use ASW to pledge with bank, OD out the money and use OD to deposit in ASW and pledge again...do it multiple times to maximize the OD, so 100K of seed capital may ballon up the deposit till RM1mil or more with multiple OD placement.

Eventually ASNB found the loopholes and stopped the ASW in certificate form....

No more, those who still holding the ASW certificate can still do the OD financing but the return is not great anymore.
For now, fixed priced fund, only ASB and ASB2 can be in the certificate forms.

Strategy: Park on the FP funds that easy to get first, such as AS1M.

If you want to diversify it (Even I don't see the logic of doing it), you can transfer from AS1M to other fixed price fund on the first day of the month, so that you will not loose any dividend. Note: Only can do it on the first day of the month.

show the ASIM passbook with the balance.
Then try other ASX FP fund to buy in, if got unit only withdraw from AS1M.

i did it before, but i stopped for many years as i dont see the logic of moving around FX price, after all they pay the same rate.

Received my ASW2020 statement for 2015 today  

I see got one "extra" weird detail below Yuran Tahunan HA/PA & GST 6% Yuran tahunan HA/PA.

its called "Bayaran Balik Pinjaman" @ Pinjaman dari Unit Perancang Ekonomi Negeri (UPEN)
since when we can take loan to invest in ASW2020