I did heard other trust companies burst. but UBB so far i just receive my 3rd dividen on the 10% product last year. so been enjoying it ever since.

If u heard its gonna boom please share your sources, as i had place it more than 7 years now

I have 3 trusts with UBB as well. One maturing end of this year. I didn't hear any news personally until I read some comments here. Happy to be updated on the boom news if any.

https://monitor.financescam.com/intel/7819-...sian-investors/

This post has been edited by lightbulk: Dec 12 2024, 09:07 AM

looks like the same article 2 years ago been reuploaded

same thing too

https://www.gripeo.com/ubb-amanah-berhad/

some updates...

UBB Amanah Welcomes Trustee (Amendment) Bill 2024, Strengthening Industry Governance and Transparency
UBB has been seeking these changes for some time now because of the increasing number of players within the industry. We strongly believe that these changes will significantly enhance the industry and bolster public and investor confidence.
The key provisions in the amendments include:
- Enhanced transparency requirements requiring trustees to now maintain comprehensive, updated records of the beneficial ownership to ensure greater visibility in the trust management.
- Expanded regulatory authority by empowering the authorities to inspect and enforce compliance and ensuring that trust assets are responsibly managed.
- Preventing asset misuse by introducing measures to enable swift action to be taken against trustees found mismanaging trust assets, including suspension, investigation referrals and termination of licenses.

Professor Dr. Maszlee bin Malik as the new Chairman and Director of UBB Amanah Berhad
We are delighted to announce Professor Dr. Maszlee bin Malik as the new Chairman and Director of UBB Amanah Berhad. Dr. Maszlee is a renowned academic, former Malaysian Minister of Education, and a passionate advocate for social and educational reform, bringing a wealth of experience in governance, community empowerment, and public policy.
We are confident that Dr. Maszlee’s visionary leadership and deep expertise will greatly enhance UBB Amanah Berhad’s mission to foster trust, transparency, and responsible governance. His commitment to positive social impact aligns seamlessly with our values, and we look forward to the new heights we will achieve under his guidance. Please join us in warmly welcoming Professor Dr. Maszlee bin Malik to UBB Amanah Berhad.

When did he become professor

As of March 2023, he serves as a Professor at the Faculty of Psychology and Social Sciences at the University of Cyberjaya. Prior to this, he was an Assistant Professor in the Department of Political Science at the International Islamic University Malaysia (IIUM) from 2000 to 2018.

you maybe right but your principal money still stuck in there...unless u earn 20K thru dividend alone...

received my dividends in 15june, next tranches would be in oct.

Any idea what their underlying investments are in? Do you get like statement or annual report of your investments?

i didn't ask for statement/report, not sure if they give any. i have no idea what their business is, i just trust my financial planner.

Ok cool. Always wondered what the invest in...

They're primarily collateral-backed loans, from what I understand.

how does it work? after 3 years you can withdraw all capital? dividend can withdraw every year or end of term 3 years?

While waiting for his response, you can try read post 236, 237 n 238 on page 12 for some info.

The interest paid is not compounded. currently UBB standard is 3 years contract. and all interest will automatically pay out every 15 or 30 of the month depending when you start.

Every year, around June to July, the promotion will start on a different term of trust.

Don't forget is not about the interest, how much you receiv,e high or low, you're backup for your family (estate planning)

This is not an investment product, it is an estate planning product.
How they can pay you,

What the bank profit from, but sometimes the bank can't do, that is where they earn

Tell me from your understanding which part of UBB trust is estate planning and what do you understand about estate planning?

The question here is the underlying investment, even if it may not be investable by a bank, an investment bank can pick up the product, if its so good and beneficial for investors, why arent we seeing it more?

Just my onw opnion

What I understand is they are doing short-term loan, with collateral at the shortest time. These companies that took a loan are on form listed corporate. This information will not be listed is just like Coke, KFC recipe.

I have friend who pass away, his family got back thier money within the stated period. Another friend of mine got back his 7-figure amount within a month, no penalty because it only requires a 6-month what the deed mentions.

To many people think this interest they give is high, but to me it is just peanuts, compared to what I saw from the real investment.

That investment that you saw also doing short-term loan, with collateral at the shortest time, same as those trust companies that offer cash trust. ?