Not only that, there is a chance that your ASNB and EPF dividends paid will also be taxed, unless exemptions are given.

Ya true for single tier system, what I said earlier would have been "double-taxation". We will know the scope of taxation soon, during second reading of Finance bill this December. Unfair indeed, but if they can grant tax relief for foreign dividends, then maybe important sources of income like EPF/ASNB would likely to be spared from the rout. EPF especially so since it serves as retirement fund (401k/IRA account in the US also tax-free until you withdraw at retirement age).

For prosperity tax based on budget 2022 yes it is one-off, industry observers are watching if this so called one-off tax will become the "new normal", given the government's failure to control its spending and desperate to find new source of revenue.

This post has been edited by TOS: Nov 7 2021, 06:56 PM

PNB invested in Goto in their latest pre-IPO funding.

https://www.reuters.com/technology/indonesi...ing-2021-11-11/

(Mandarin news from Sinchew below)

https://www.sinchew.com.my/20211111/%e5%8d%...8a%95%e8%b5%84/

https://www.theedgemarkets.com/article/cove...g-sapura-energy

I think he means fixed price funds and variable price funds, not "accounts" as in ASNB member accounts.

https://www.sinchew.com.my/20211125/%e5%9b%...88%98%e5%a4%a7/

PNB has difficulties finding good returns for unit holders in an era of low interest rates and lofty valuations.

https://www.sinchew.com.my/20211207/%e8%82%...af%b4%e8%af%9d/

Sapura in dire financial straits. Cash flow in 1H FY 2022 almost equals to 0. Bankruptcy in the worst case.

Sapura shares (equities) account for 0.37% of ASM2's NAV in AR 2021 (September 2021), 0.53% of ASM1's NAV in AR 2021 (April 2021). Still waiting for ASM3 detailed investment list from ASNB.

The Edge report (English): https://www.theedgemarkets.com/article/sapu...et-sales-likely

(Mandarin): https://www.theedgemarkets.com/article/%E6%...%BD%8E%E7%82%B9

This post has been edited by TOS: Dec 7 2021, 07:02 PM

https://www.theedgemarkets.com/article/sapu...l-going-concern

https://www.sinchew.com.my/20211208/%e6%8a%...83%82%e9%a2%9d/

Out of the 3 billion investment PNB made in Sapura back in 2019, PNB lost 2.4 billion on paper.

This post has been edited by TOS: Dec 8 2021, 10:20 PM

How much would you expect for the "bonus" portion then?

This is correct. PNB's investment in Sapura and Velesto has long been questioned by the more informed observers in the market many years back.

https://www.theedgemarkets.com/article/cove...rgy-and-velesto

Google "PNB Sapura" and you can find strings of news, comments, criticism, articles etc. on PNB's choice to hold a stake in the 2 O&G companies.

Equities are always "residual ownership" of companies, so they come behind reference shares (RCPS-i) (PNB owns 98% of that), bonds (no sign of PNB holding that, based on ASM2 most recent 2021 AR) and bank loans.

The market price of bonds/RCPS can give you an indicator of how much is left to salvage if the worst comes true.

The funny thing is PNB still sees hope in this cash-burning machine.

https://www.theedgemarkets.com/article/cove...g-sapura-energy

This post has been edited by TOS: Dec 12 2021, 12:33 PM

All 3 have stakes in Sapura, but they are not directly comparable since the ARs don't show the fund holdings at the same time.

Sure, still waiting for ASNB's reply. They are later than usual compared to last year. Only replied my for ASM2 nearly a month later.

By the way, ASM2's foreign equity portion has risen to 22-23% of overall NAV, based on their 2021 AR.

Sapura lost 669 million in 3Q.

https://www.sinchew.com.my/20211213/%e6%b2%...%bd%e6%ba%90-3/

https://www.theedgemarkets.com/article/sapu...tinue-weigh-its

This post has been edited by TOS: Dec 13 2021, 09:17 PM

I am non-bumi, so I only know about ASM, ASM2 and ASM3. However, another VP fund I own, ASN Sara 1 does not have stakes in Sapura, based on their most recent interim report.

As for dividend announcement, look for the date of "Financial Year End" here: https://www.asnb.com.my/asnbv2_2funds_EN.php#hargatetap

The next day after the end of financial year is the day when dividends will be credited into your account.



This post has been edited by TOS: Dec 20 2021, 02:07 PM

https://www.theedgemarkets.com/article/alte...expensive-folly

https://www.theedgemarkets.com/article/will...e-sapura-energy

Meanwhile, PNB/ASNB and EPF will not be affected by FSIE implementation.

https://www.theedgemarkets.com/article/fore...fsie-withdrawal

This post has been edited by TOS: Dec 20 2021, 09:20 PM

https://www.sinchew.com.my/20211223/%e6%b5%...8a%95%e8%b5%84/

For those who can understand Mandarin, a little comment on the part where they mention the PNB 118 tower is fully funded by "internal resources".

I think that is not true as PNB's latest annual report (2021) for ASM 2 *shows that PNB Merdeka Ventures bonds (which is the "internal resources") account for 1.77% of total fund NAV.

*(You need to email them for the full list of holdings, they just show top 20 in their published AR)

This post has been edited by TOS: Dec 23 2021, 07:22 PM

Thanks. ASNB didn't show the exact name of the bonds, only the issuer/company in the full detailed list they sent to me.



PNB Merdeka Ventures is the issuer behind the 2 programs.

http://www.pnbmerdekaventures.com.my/pdf/M...0Newspapers.pdf

https://islamicmarkets.com/publications/pnb...had-rm2-billion

So, they are (kind of) misleading the public. After all, what other fixed income securities could PNB Merdeka Ventures Sdn. Bhd. be issuing? The tower isn't finished. This is clearly an infrastructure bond. And our money is in it.

For your info, "PNB Merdeka Ventures Sdn. Bhd." has appeared in ASM1's 2021 AR accounting for 1.4% of NAV (the highest of all FI portion, even higher than MGS/GII holdings).



And they appear in ASM3's 2020 AR.



*Both are from screenshots of detailed list upon email request, not shown directly in the AR.

So it's clearly not a new investment.

This post has been edited by TOS: Dec 23 2021, 11:44 PM

FAQ for ASB income computation. Should clear the air for many I guess.

https://www.asnb.com.my/ASBIncomeDistribution_EN.php

https://www.thestar.com.my/business/busines...ication-efforts