Yes USD

Wow, another HNWI in this thread.
Very important to learn from sifu Hansel n Icemanfx.
Understand how these successful people think n do.
Achieve 10% of them amount, also new wealth milestone.

Ha ha ha, i am only a economic student.

From OCBC:
Important notes
Terms and Conditions for Premier Private Client

How to qualify as a High Net Worth Individual (HNWI)?

The value of your net personal assets must exceed RM3 million (or its equivalent in foreign currency); or

Your gross income in the last 12 months must be no less than RM300,000 (or its equivalent in foreign currency); or

Your gross income jointly with your spouse in the last 12 months must be no less than RM400,000 (or its equivalent in foreign currency)

This rm3 million must be invested in OCBC to qualify?

FOR MBB:
Maybank Private Wealth is designed to create wealth opportunities for Clients with USD1 million in Investable Assets with Maybank.

For SCB:
Eligibility
3. This Programme is open to all SCBMB customers who fulfil the following conditions:
3.1 individuals aged 21 and above;
3.2 Maintain a minimum of RM3,000,000 Assets Under Management (“AUM”) with us in deposits and/or investments
3.3 have maintained all their accounts with SCBMB and/or Standard Chartered Saadiq Berhad (“SCSB”) in good standing,
without any breach of the relevant terms and conditions or agreements;
4. Your membership will be reviewed on a yearly basis at the end of each

This post has been edited by MGM: Nov 20 2019, 12:22 PM

Those are not a good measurement of HNWI.

With only those as benchmark, we are still staying in a terrace house, driving proton jap cars, and tarpau food at hawker stalls.

I think it's RM 3mil AUM with the same bank.

This post has been edited by moosset: Nov 20 2019, 12:25 PM

stocks like MahSing, AirAsia etc?

AA declared their huge dividend last time but their stock price still didn't rise to RM 3++.

If same bank then there r even less bank private clients, probably 10% of 0.01%.

Same, and I imagine lots of my coll also qualify for HNWI

I believe bank clients are less than the actual number of ppl who have assets more than 3mil.

I know there are ppl who don't trust bank employees so they are not part of the private clients (they don't even apply to be premier customers), and some bought properties instead of just having cash in banks.

Most buy property with borrowing. AUM with bank is not limited to cash only.

Only about 0.2% of adults in this country have >$1m net worth.

If bank is not the appropriate people to define who is hnwi, who would be?

But, I think HNWI like sifu Hansel has million-million in bank because of using their stock brokerage. Otherwise, I agree with other seniors, money in the bank - so low interest.

However, Sifu Hansel might have million-"million everywhere, hence the Maslow self actualization stage of being Private Client. Free makan, Prestige, Confidentiality, etc. Syabas!!!

Have to admit we all different levels of needs lah.

not to mention those who have millions in Amanah saham....

they may not be bank private clients but still have millions!

This post has been edited by moosset: Nov 20 2019, 01:56 PM

Ya, Ya... Cannot agree more, I see the sifus n many Snr from asnb thread. Hentam $30k/shot.

Sometimes, feel envy... But learn to accept n learn from them.

But, unlikely any of them sifu really subscribe to FI/RE. I think the movie... For most Malaysians, Greed is Good!!

FI/RE is more of a angmoh lifestyle??!!! Oops reached my daily msg quota liao. Bye!

That stats just goes to show Msia is a ridiculously low income nation.

Its nice that the bank tell me I'm a HNWI, but I certainly do not feel like it... and my peers in the same range agrees.

There is no doubt Malaysia is a low income nation e.g priority banking aum is RM 250k instead of SGD 250k of same bank in SG, private bank aum of RM1m or RM 3m instead of $3m in sg, about 4% of adults have over us$100k net worth.

Bros,... you only put 3mil RM inside a bank iF the bank can help you make money or the bank has strong investment programs for you to participate in.

Or,... the bank gave your company a lot of loans and you have to please the bank like this.

Otherwise,... no need,....

Err,... I am not a PB client in Msia.

PB client in Singapore even more SOLID.

Riches and 'wealthiness' is relative. One is rich, another is not richer, another is even richer. So,... no point comparing like this.

What we can compare is : the strength of our knowledge and our capability to predict future mkt movements with accuracy based on years of experience and reading and forumming and conversing and blogging.

I have UNHWI's coming to me wanting to talk to me abt instruments and opening of accounts, maneuvering around accounts for best risk vs returns and how to aim for best returns.

To me,... this is more important. But that's what I think,....