seems like that is what ASB is so probably you can just park it in ASB

Can. Around 30 years?

I'm surprised not more bumis are acquainted to this benefit 🤔 or they just don't trust PNB with their money?

Bro i have made 100k loan on 2017, if this year i loan another 50k, then on 2020 i loan another 50k is it wise?

or just go straight additional 100k?

Thank you bossku.

Yes you could! That is just cash investment, with a lump sum amount. Not everyone has the opportunity to do this, if you have RM200k to spare, that is good for you.

As for the duration, using a simple capital appreciation would do. 332 months to get your RM200k to become RM1m at 6% p.a.



Now just use NRIC and thumbprint to withdraw. No need books/certificates anymore

You are a sharp one - I mean it. You are asking the right questions. No, they do not publicly disclose the fund's Net-Asset-Value. The SC knows about it, but they have their reasons to not disclose them, I can probably speculate - you may come to the same conclusion anyway.

In any case, at the point of purchase (say, today) you would be paying RM1 per share, but you do not know the actual value of the share. Could it be RM0.80 per share (which means you are over paying) or is it RM1.20 per share (which means you are underpaying, which is good)?

This post has been edited by wild_card_my: May 3 2019, 04:13 AM

How bout if already have 650k in asb. Still can add by cash?

They are just not aware. There are also elements that ASB and ASB-F are haram, but these people are probably pondok people. To give out Fatwas, you need to be:

a) Appointed
b) Know the Islamic rules (fiqh)
c) Know the worldly matters of the topic (Finance, in this case)

But due to these people spreading their own "Fatwas" a number of people incurred opportunity costs.

I would say finance as much as you cam possibly afford.

Remember, this is akin to borrowing to invest, it is still an investment. You are not borrowing to buy a car or to go for a holiday. Make sure you are able to repay the installments

Depends on your softcap.

Please read my post on it here: ASNB softcap

This post has been edited by wild_card_my: May 3 2019, 12:03 AM

Can go directly to asb counter and ask them how much unit boleh beli? Asking on behalf of my mum. She doesnt own a hp so cant register for myasnbportal. Thanks.

I fyou print your ASNB statement, you should be able to see it at the top.

Ok. Thank you very much.

Cool thread. 35 years loan is a bit too much no?
If you are 25, a fresh grad with sub 3k salary that will be tough.

If you consider that buying properties, the max tenure is also 35 years... is it too much? hehe. Well the biggest advantage this has over properties is that the ASB units are very very liquid. You can always ask the bank to cancel it anytime, and there is a ready buyer of your units - the ASNB itself. The second advantage is that it doesn't experience appreciation nor depreciation - which means banks are happy to extend financing to the investors to buy into the fund, upfront, in lump sum (max of RM200,000 per fund)

With properties, if your property drops in value, you are in deep shit. You are stuck, can't sell it off, and if you are even more unlucky no body may rent the property for months at a time. Oh and if siht hits the fan, in the case where you can't pay your instalments, the bank can force-sell your house, and if the auctioned price is lower than your loan balance, the bank can sue you for bankruptcy.

As a mortgage broker... I don't know why people buy properties in this day and age to invest. Property is now oversupply.

This post has been edited by wild_card_my: May 3 2019, 12:33 AM

I am still confused about the 200k cap.

Is the 200k the total amount of Wawasan 2020, 1Malaysia, and Amanah Saham Malaysia or the limit for each of those 200k, so the total is 600k?

Park

Wait wait. I do not know anything about funds other than ASB1 and ASB2 - because I do financing for ASB1 and ASB2, so my concerns are related to these 2 funds and not so much the others. I dont know if they have limits - I can check I guess. But more to that later

But I can perhaps answer part of your question. As far as ASB1 and ASB2 are concerned... the original capping starts at RM200,000. This capping can be increased by earning distributions (ASB1 distribution on 2nd January, ASB2 distribution on 1st April).

Your capping is increased based on the "total cumulative distribution earned since the inception of your account". So if you have earned RM50k worth of distributions since you opened the ASB1 account, your total capping of your ASB1 account would be RM250k.

However, the total capping of your "collateral" has a hard cap of RM200k. Following the example above, you can borrow RM200k through ASB-financing with the banks, the bank will buy on your behalf RM200k worth of units, and you can top up RM50k into your ASB1 account - making your total investment in ASB1 worth RM250k. Your distribution at the end of the year would be calculated based on RM250k.

That is the gist of it, different entry time would change your distribution earned, but that is a topic for another comment.

This post has been edited by wild_card_my: May 3 2019, 03:29 AM

i not Bumi but born in marehsia... can do what?

if one of the spouse is bumi, can the non-bumi spouse apply join account for ASB?

You mean you, as a non-bumi, has a spouse who is a bumi, and you want to open an ASB-financing account?

But i don't think is possible to open a/c for non-bumi, but at least could joint name..if possible or something to that effect.