Good. Mass withdrawal on June 16 see how they going to handle it.

Sorry guys, I'm quite slow and I think I might need more clarification.

1. With effect from 16th June, IPR will be in the range from 3.0% up to 3.55% (60 months), which will affect ALL the placements regardless the placement is made BEFORE or AFTER this date. (EXCEPT GIA Promo Campaign)

2. With effect from 1st August,
- If we uplift our placement within 3 months, there's NO profit and we will only receive the amount equal to what we have placed.
- If we uplift our placement after 3 months, but still before maturity date, we will only receive half of the profit.
But this is only applicable to placements made from 1st August onwards. Any placement made before 1st August are not affected by this (until rollover/renewal).

EXAMPLE:
Placement 1 (P1)
GIa 12-months Promo Campaign (4.1%, or somewhere there, I forgot)

Placement 2 (P2)
Date of placement: 15th June 2017 (3.45%)
Amount: RM 1k
Period: 2 months

Placement 3 (P3)
Date of placement: 17th June 2017 (3.55%)
Amount: RM 10k
Period: 60 months

i) P1 is not affected at all
o Upon maturity, withdrawal will include all (4.1%) interest.

ii) P2 is affected by item (1) and (2)
o 3.45% will reduce to 3.0% on 16th June onwards.
o Affected by item (2) only if upliftment is performed on 15th August onwards (after renewal/rollover). If upliftment before 14th August, ALL profit is still included.

iii) P3 is NOT affected (kinda) by item (2)
o If upliftment before maturity date, ALL profit is still included
o Will be affected by item (2) after 60 months (which the TNC, rates and everything else are most probably updated by then)


Did I make any mistake? Please guide me if I did. Thank you guys

You and I are on the same page.
Not sure about others.

P2 and P3 should be affected by item (1) but not item (2).

Item (2) will only be applicable upon rollover and/or upon new placements of GIA-i after 1st August 2017. Even you wrote it above

Since P1 and P2 were placed before 1st Aug, it shouldn't get impacted by item (2). Unless, your P2 renewed for a new cycle on 15 Aug (after 1st cycle of 2-mth tenure ended) and you uplift it thereafter, then it will be impacted by item (2).

P3 scenario was discussed earlier as possible "loophole" to regain earned profit upon uplift.

Nobody can validate the behavior, now, until somebody tested the uplift after 1 Aug for placement of 60-month tenure

Yup, but that was what I wrote. I wrote P2 is affected by item (2) after renewal.

And P3 is the results of item (1), and hence I did not mention it.

Maybe someone or me myself will test with a smaller amount. No need to use 60 months period placement to test it out.
(I'll might place 1 placement for 60 months and another few k just to test it out)

Thanks for your reply though.

This post has been edited by CasualMax: May 31 2017, 07:33 PM

where are they? Sorry I tried but can`t find it

This post has been edited by Ramjade: Jun 1 2017, 11:03 PM

Click here to view Investment Account Fund Performance Report (Q1 2017)

Everything will be in history

it doesnt matter.

this is just the investment performance report.

Interested to c the fund size will left how many Billion after Aug

let wish it reduce at least by half , then they re-introduce this old plan.
just like previously they retracted their amex 5% weekend rebate , now need to make a u-turn .

This post has been edited by apathen: Jun 2 2017, 06:25 PM

i asked my Maybank IB remisier regarding this changes.
she tell me that it have not been finalized yet and they still discussing about it so there are still chances.
don't know how true.

maybe they don't dare to risk losing RM20+ billion overnight.

Nope. Once publish, it will take place.

Yup, pretty sure its gona be more than 50% of the fund size.

Wonder if Maybank shares will be sold down on 1/8 due to this move by them.

Doubt it, as this would mean more money to Maybank, as they are forfeiting the interest payable for early withdrawals.

No you don't get what I meant. I meant mass withdrawal of money from maybank, how can maybank handle it. Banks paling scared mass withdrawal. This may cause the share of maybank to drop as maybank have loss "quite some money" from the egia withdrawal.

I'm planning to move my 100k parking in eGIA (fund from BT) to CMF by 15 June as well.. Just open Fundsupermart account..

Fund from BT?