sounds like some grand scheme to take down UBB

Good to see the right regulator is referred this time lol

Always suspected SSM isn't supposed to be the right regulator for such "schemes".

But with the report it seems that Amanah Raya is also doing something illegal then since their "cash trust" started much earlier than the heavy promotion from UBB and others.

How can Amanah Raya's "illegal" cash/property etc. trust stays around for so long and under the radar...

This post has been edited by TOS: Jul 31 2022, 11:10 AM

I think amanahraya are holding license to offer and operate unit trust funds,... Thus maybe they also hv license to take in deposits and manage for that "cash trust" too?

Uhmm cash trust is a different product though. Their UT business is definitely legit with proper licensing from SC. But I don't think that automatically makes it "legit" to offer cash trust.

But I could be wrong, just saying.

If they don't hv a license for that.....
Maybe, just maybe, they too can,

Structure that cash trust into holding money from unit trust funds?
Ex: take deposit for "cash trust", then buy unit trust fund, put the unit trust asset into that "cash trust".
If the owner of that "cash trust" dies, amanah will redeem unit trust funds and channel that money out as "cash trust"?

This post has been edited by MUM: Jul 31 2022, 10:47 AM

Looking at the brochure, they just hold cash and that's it.

https://www.amanahraya.my/wp-content/upload...ust_ENG_CS6.pdf (page 5)



I think UBB's case is closer to p-Trust since they get a portion of their income from properties. But well, I never read the trust deed, so can't comment anything anyway.

The line between wealth management and estate management is ever so thin...

🤔🤔Shouldn't this be considered as cash
AmanahRaya Syariah Cash Management Fund?
If it only hold cash and nothing else,.. It will not generate $$.

I think it depends on how you structure the product and market it. Cash management fund is UT, cash trust is a trust. Underlying asset is cash but governed via different legal entities.

Cash entrusted usually is invested in government bonds/bill/notes (if amount is large) or fixed deposit (less amount), so still some $$ there.

👍👍If can put property into a trust, so it should be able to put cmf into it too.
As long as it is liquid n able to preserves the value....

I think the main obvious marketing variance of this amanah n ubb... The emphasised of ROI value as part of the enticement.

Response to the Edge’s Article: ‘Several Cash Trusts said to be Ponzi Schemes’

Jocelline Chee
May 30, 2022

If you meant this article from this link..
https://www.wglegacy.com/response-to-the-ed...-ponzi-schemes/

That response was an old response to that "old" article from the edge, as there was a more canggih one as posted in post 211 with emphasis directed at UBB from gripeo.
Ever wonder why Jocelline Chee did not response to that article this time?


Then again,
You should read the latest from parliment regarding the latest abt cash trust... Read post 219, page 11 by forummer aeiou288.

Better get the $$ out now and stop selling it too

This post has been edited by MUM: Aug 13 2022, 02:16 PM

https://www.sinchew.com.my/advertorial/2022...bf%a1%e6%89%98/

Sinchew advertorial

Lim Lip Eng brought the issue up again during yesterday's (21/02) parliament sitting.

No actions being taken since his last statement?

There were some action made by the parliament about the then "trust funds" products. Refer to Page 11, post 219 by forummer aeiou228.
Now, ....
My guess, Most probably now "some of them have changed the product's packaging", from offering previous cash trust product to new products. Some of them labelled their new products as "asset based solution investment" instead of trust funds.

Something like in this recent thread.
Asset Backed Solutions ABS
https://forum.lowyat.net/topic/5328189

This post has been edited by MUM: Feb 23 2023, 11:16 AM

I have a few trust funds with UBB and pays exactly as per the plan.. thankful for that.

Still getting paid ?

Yes, last in June 1st week.
This one has semi-annual payment (6 months * 6 times) over 3 years lock in period

Basically, some pays twice a year and some once (per annum)

Just received new cash trust program from UBB. Projected return is 9-11%. Got pay every 3 months. Should I join?

Any mention of any penalty for early termination of agreed duration?
(Withraw money/close account before the agreed duration?)