Okay,.. guys,.. HA/PA = Hibah or Pengisytiharaan Amanah,... yes, something to do with the Islamic or Normal Will. But what has these wills got to do with the State EPU body ?

Perhaps I need to look at the actual document in order to visualise it better,...

Probably because the mkt was not that bad yet when ASM closed her books back in April 31st this year, compared to August 31st, when ASW closed her books.

Okay,.. confirmed that I really need to have my statement in front of me before I can visualise better,.. I can imagine what Items 3 and 4 are now,...

Still, I supposed Item 5 relates to the State EPU body. What is this about then ?

Yes, that's right,.. sorry, replied too hastily...

Edited to emphasise the point : the reason stands,.. back in March 31st this year, the mkt conditions were still not that bad yet compared to the time in August 31st...

This post has been edited by Hansel: Nov 4 2015, 10:26 PM

Well, hoped it's not something detrimental to investors or 'tricky'..... like something along the line of adding the 'Nilai Aset Bersih' column in the depositor books for the ASM and the AS1M.

Yeah,... this sounds reasonable,... I guessed we need to confirm this with ASNB.

Wow,.. never had so much discussion over an evening abt ASX FP Funds.

That's the tickle here - if ASW2020 has this loan facility thing for some people. then this would be the second point supporting the fact that the ASW2020 might be safe from a conversion, similar to the ASB and the ASB2.

Bear in mind that for the ASM and the AS1M - there is no loan facility tied to their units being used as collaterals.

Actually it's the national EPU under the PM's Dept that is giving out the loan. Interest-free to the unitholder, and the unitholder will get to enjoy the dividend payout every year till end-of-life. It's called ASW2020-Bandar.

http://myadha.blogspot.my/2010/06/asw-2020...skin-tegar.html

http://www.umno-online.my/2010/06/24/pm-la...mbah-sejahtera/

Thw units do not really 'reach' the unitholders' hands. The units are 'imaginary', and the Gov't will just credit the dividend 'earned' by each unitholder into the unitholder's account every year.

That field in the depositor's book about the payback must be a field for the recording of the unitholder's actions pertaining to these 'imaginary' units, whatever they may be.

Since the units do not actually drop into the unitholder's hands, and the unitholder has no means to sell away the units, it does not really matter what the nav is, should the units convert from FP to VP next year. ...

Wil,.. not really, if you look closely at the mechanics of the Sara1Malaysia and the ASW-Bandar initiatives :-

Both of them do NOT need to take into account the actual nav of each unit. The holdings do not really belong to the investors, and the investors are not able to sell away the units and pocket the gains from this disposing. What the investors reap are only the yearly dividends declared.

Hence, if the nav of each unit should change, there is no impact to the investors, or more precisely, the benefactors.

FORUMMING AND DISCUSSING OVER FORUMS IS THE RIGHT WAY ! BUT BE MINDFUL OF WHAT YOU READ AND DIGEST OVER THE INPUTS CAREFULLY.

This is my standard behaviour when I read forums. Some inputs put in might be inaccurate due to some misunderstanding, for eg,... or some shortage of information. The mistake could be a bare and honest one, or perhaps could be a deliberate misrepresentation,... hard to say...

I think this concept here is similar in=principle to what our EPF is telling us in the recent amendment towards the EPF Act. ASNB benchmarked our AS1M dividend rate to 4.0% only, but when the dividends are given out, they exceed 6.00%.