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 Ultimate Discussion of ASNB (47457-V) Se7en, Wholly owned subsidary of PNB (38218-X)

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BigQuestion
post Jan 19 2017, 05:53 PM

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Quick question guys,

I am totally new to this, I have ASB and ASD.

I was told to renew my ASD, I'm not sure why it needs to be renewed.

My plan is to close my ASD and transfer the fund to my ASB. How and where can I do this?



How do I withdraw my ASB fund to bank?

This post has been edited by BigQuestion: Jan 19 2017, 06:09 PM
BigQuestion
post Jan 19 2017, 06:46 PM

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QUOTE(nexona88 @ Jan 19 2017, 06:27 PM)
I think for ASD, u needs to change passbook..

well u can closed your account at ASNB, Maybank, CIMB or RHB..

u just go tell the staff giving Q number there..
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Do know why ASD need to change a new passbook?

Can I renew my passbook at Maybank?

This post has been edited by BigQuestion: Jan 19 2017, 06:56 PM
BigQuestion
post Jan 20 2017, 07:27 PM

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Someone needs to explain to me like I'm 5 year-old.

Why it is hard to get unit on ASB?

You are giving them money and they refuse?

As I know the maximum unit for ASB is 200 000, but if exceed 200 000, should I withdraw the balance and put it in other fund such as ASB2?
BigQuestion
post Jan 20 2017, 08:27 PM

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QUOTE(Ramjade @ Jan 20 2017, 08:17 PM)
First, there are limited units in the market because ASX FP is view as a product where you cannot lose money (how can you when NAV is RM1? laugh.gif)
So let's assume that there are 1,000,000 units available. Because it's such a "hot product", Ah Cheng, Lee, Chong, Boon, and Pang each grab 200,000 units each. Now there are no more units left. Come Mr Yap. He wants to buy RM200k too but because all the units are held by  Ah Cheng, Lee, Chong, Boon, and Pang, so even if he got RM200k, he cannot buy because there's none left.
Now Mr Yap is persistent. He try everyday. He say die die must put!. So one day Pang decide to sell RM100k because he's getting married, need to go honeymoon, so he sold off 100k units, so now there's 100k units in the market. But Ah Cheng have been eyeing the units too. He always leave book with the banker ask them to try RM50k everyday. Ah Cheng managed to grab up 50k units. So poor Mr Yap only managed to grab RM50k.

Understand?  laugh.gif
If you had trouble topping up, go affin/ASNB.  smile.gif
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Thanks some great explanation. I understood instantly. thumbup.gif
BigQuestion
post Jan 20 2017, 10:33 PM

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QUOTE(MGM @ Jan 20 2017, 09:03 PM)
Are u referring to ASB/ASB2 for the bumi, or ASM/ASW/AS1M for all Malaysian?
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ASB/ASB2
BigQuestion
post Jan 21 2017, 12:49 AM

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QUOTE(Ramjade @ Jan 20 2017, 11:25 PM)
If ASB/ASB2, then it's due to the max limit of RM200k. Why do they limit? Simple. Assuming that all units in ASB/ASB2 can be snapped up, imagine how much money will be flooded into KLSE? ASNB will become large shareholder in lots of companies which SC does not want. Which means all companies decisions will need ASNB approval. Which is dangerous.

The scenario is IF all the units for ASB/ASB2 are subscribed. laugh.gif

If you want to grow that, make you don't withdraw any dividends at all yearly.
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Let's say I have RM210k in my ASB, should I withdraw the RM10k and put it in other fund such as ASB2?
BigQuestion
post Jan 21 2017, 01:33 AM

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QUOTE(Ramjade @ Jan 21 2017, 12:55 AM)
Just keep la. Why do you want to withdraw? Next year, when dividend is given, your new limit will be RM210k + dividend.
If you want to add ASB2, just use cash from elsewhere.
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Please bear with me,

I thought the maximum investment is RM200 000?

Let's say I lump sum invest RM200 000 into my ASB, next year + dividend(7%) become RM214 000.

On the year after that is RM214 000 x dividend 7% ? My new maximum become RM214 000?
BigQuestion
post Jan 21 2017, 11:03 AM

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QUOTE(foofoosasa @ Jan 21 2017, 07:24 AM)
you're right .  brows.gif
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QUOTE(Ramjade @ Jan 21 2017, 08:40 AM)
Yes. That's right. Lump sum RM200k, that's the max initial limit. Then IF you DON'T WITHDRAW the dividend, and say you get RM14k as dividends, then your new limit is RM214k. What this mean is you can withdraw out RM213k, then when you topup, you can topup RM213k instead of only RM200k.
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My god.......

My family and cousins are wrong for so many years now.

Once maxed out RM200k they withdraw the dividend income because they thought maximum is RM200k. sweat.gif

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