PNB increase stake by acquiring another 43,000 Maybank shares

26-Dec-08

MALAYAN BANKING BERHAD

MAYBANK

43,000

Permodalan Nasional Berhad

289,477,808

PNB increase stake by acquiring another 43,000 Maybank shares.

PNB now owns 289,477,808 shares of Maybank. Closing price on 26/12/08 was RM5.15 per share.

ELIGIBILITY REQUIREMENT FOR INVESTMENT IN ASB

Here's some info on who can invest in ASB. Got it from PNB website. As a short-cut rather than having to go to PNB's website.

ELIGIBILITY REQUIREMENT FOR INVESTMENT IN SEKIM AMANAH SAHAM NASIONAL, AMANAH SAHAM NASIONAL 2, SKIM AMANAH SAHAM BUMIPUTERA AND AMANAH SAHAM DIDIK BY MINORITY GROUP

Eligible Minority Group are as follows : -

1. Siamese
2. Portuguese
3. Indian Muslim
4. Mix Native of Sabah
5. Mix Native of Sarawak
6. Permanent Resident of Singapore ( Malay Citizen )
7. Born Outside Malaysia
   (i) New Identification Card with country birth code number 60 – 93
   (ii) Old Identification Card with starting number 8, 9, H6.., K8.. and K9...
8. Muslim Convert – Malaysia citizen

1. Document Needed for Siamese, Portuguese and Mix Native of Sarawak

1. Copy of Applicant Birth Certificate and Identity Card
2. Copy of Applicant's Father Birth Certificate and Identity Card - Paternal grandfather (if father is born after 1957) (as proof of Domicile)
3. Copy of Citizenship Certificate - If applicant or father was born overseas (Date on the Citizenship Certificate does not exceed 31 August 1967)

Portuguese Only
Borang Sulit must be produced - Approval from Regedor must be obtained.

Note : If father or paternal grandfather are already qualified, applicant are not required to fill in ”Borang Sulit” but the confirmation letter that specifies their eligibility to invest in ASNB unit trust or their accounts number must be attached to the application.

2. Document Needed for Indian Muslim, Permanent Resident of Singapore (Malaysia Citizen), Muslim Convert, Born Overseas and Mix Native of Sabah

1. Copy of Applicant Birth Certificate Identity Card
2. Copy of Applicant's Father Birth Certificate and Identity Card - Paternal grandfather (if father is born after 1957) (as proof of Domicile)
3. Copy of Citizenship Certificate - If applicant or father was born overseas (Date on the Citizenship Certificate does not exceed 31 August 1967)

Mix Native of Sabah Only
Confirmation letter from Pejabat Hal Ehwal Anak Negeri Sabah (PHEANS) need to be obtained.

ELIGIBILITY MATRIX TO INVEST FOR SABAHAN

Reminder :
All photocopy documents must be certified true copy by Group A Officer of Civil Servant/Professionals; or ASNB Officer or Ketua Kampung.

Note:

1. Anyone who invest in any ASNB product does not meant the person is Bumiputera.
2. Applicant will be sent a notification letter if they are eligible to invest in ASNB Unit Trust ASNB.
3. Proof of Domicile = Proof applicant/ father/ mother/ grandfather/ grandmother was in Federation since Merdeka Day (31 August 1957)

Where to Apply
ASNB Headquarters Kuala Lumpur or ASNB Offices.

Latest News Dec 2008 : PNB Will Not Invest Overseas

PNB Will Not Invest Overseas... Good!

KUALA LUMPUR 22 Dis. - Permodalan Nasional Bhd. (PNB), firma pelaburan terbesar di negara ini, belum bercadang menggunakan dana-dana pelabur tempatan untuk dilaburkan ke luar negara.

Presiden dan Ketua Eksekutifnya, Tan Sri Hamad Kama Piah Che Othman berkata, polisi PNB yang membenarkan para pelaburnya mengeluarkan wang pada bila-bila masa merupakan salah satu faktor yang menyukarkannya untuk berbuat demikian.

''PNB bukan tidak mahu menggunakan wang dana pelaburan rakyat tetapi kita perlu faham bahawa PNB adalah institusi unik yang membenarkan para pelaburnya mengeluarkan wang pada bila-bila masa,'' katanya ketika ditemui baru-baru ini.

Jelas beliau, sekiranya PNB melaburkan dana orang ramai ke luar negara, PNB akan menghadapi masalah sekiranya pelabur hendak mengeluarkan wang masing-masing, selain pelbagai masalah lain seperti pertukaran mata wang serta risiko yang tinggi.

Oleh sebab itu, tambah beliau, PNB tidak mahu mengambil sebarang risiko sebaliknya perlu mengutamakan pulangan dan perlindungan terhadap risiko kecairan pelaburan.

Ditanya tempoh masa PNB bersedia melaburkan dana tersebut ke luar negara, Hamad Kama Piah berkata: ''Ini bukan soal masa tetapi keutamaan PNB sekarang adalah memastikan sama ada sebarang tindakan (pelaburan) mendatangkan kebaikan kepada dana atau sebaliknya''.

Beliau tidak menafikan ada kebaikan menggunakan dana pelabur untuk pelaburan luar negara tetapi risikonya juga tinggi.

''Sebab itu, sebelum membuat sesuatu keputusan pelaburan PNB mengambil kira semua aspek berkenaan kerana pada akhirnya kita perlu memastikan bahawa PNB mampu memberi pulangan kepada pelabur.

''PNB tidak boleh gagal menguruskan dana para pelabur, jadi kita perlu memastikan PNB betul-betul bersedia, baru kita boleh membawa pelaburan tempatan ke luar negara,'' kata beliau.

Sementara itu, Hamad Kama Piah berkata, PNB sedang membuat persiapan untuk berhadapan dengan situasi ekonomi yang dijangka terjejas pada tahun depan.

''Dalam aspek ini kita perlu mengakui, keadaan ekonomi yang tidak menentu dijangka turut akan menjejaskan pendapatan syarikat-syarikat kita.

''Sebab itu PNB perlu bersiap sedia untuk memastikan syarikat-syarikat PNB ini masih mampu memberi pendapatan kompetitif meskipun dalam keadaan sukar,'' ujarnya.

Discontinuing The Gift of Free Unit Pokok for New Unitholders of ASB

Permodalan Nasional Berhad (PNB), as the parent company of Amanah Saham Nasional Berhad (ASNB), the managers of Skim Amanah Saham Bumiputera (ASB), has since the launch of Skim ASB given ten (10) free Unit Pokok to each unitholder of Skim ASB, upon registration of subscription of units by a unitholder.

PLEASE TAKE NOTE that PNB will discontinue the gift of free Unit Pokok for persons who register as unitholders of Skim ASB on or after January 1, 2009. All Unit Pokok issued prior to January 1, 2009 will continue to be bound by the terms of the Tenths Schedule of the Deed of Skim ASB.

Sime, Maybank stocks go up!

Information on two of the biggest equities within ASB. Don't know suddenly why go up? Do you? Things are getting worse ain't it? Especially with the Maddox ponzi scheme. - Dave

KUALA LUMPUR: Sime Darby and Maybank led blue chips higher at midday on Wednesday, pushing up the 100-stock KL Composite Index up nearly 10 points on some fund buying while Asian markets were mostly higher except for Japan and South Korea.

At 12.30pm, the KLCI rose 9.54 points or 1.12% to 864.34. Turnover was 169 million shares valued at RM232mil. There were 203 gainers, 168 losers and 165 counters unchanged.

RHB ASB Loan

Here's loan information for ASB at RHB. You can get it at their website here.

At RHB Bank, we offer you an ASB Loan to finance the purchase of your ASB units. It provides a convenient and affordable way to grow your investment.

RHB Bank offers a high margin financing, low interest rates, flexible loan tenures, optional insurance coverage and low processing fees.

Under this loan scheme, you have the benefit of enjoying your profit distributions and bonus once they have declared (if any). Upon settlement of the loan, the ASB certificate would be returned to you.

You will find it easy to apply ASB Loan Financing. For further information, do give us a call at 03 - 9206 8118 or visit our nearest branches.

Product Features:

Interest rate for Term Loan (TL)

Loan Amount : RM10,000 to RM30,000
1 st year : BLR - 1.75%
Sub years : BLR - 1.25%
Above RM30,000
1 st year : BLR - 2.0%
Sub years : BLR - 1.25%

Overdraft (OD)

BLR + 0%

Loan Tenure

1 year to 20 years or 60 years old whichever is earlier.

Loan Amount Fixed Loan

For 100% Package
Min: RM10,000
Max: up to individual's ASB investment limit

For 95% Package
Min: RM10,450
Max: up to individual's ASB investment limit

Margin of Advance (MOA)
TL for additional / new ASB
investment

100%
With proof of monthly income(e.g. 1 month pay slip / other proof of income e.g. bank account statement)

Up to 95%
Without any proof of monthly income.

TL and OD for personal consumption on unencumbered ASB certificate
95% of ASB certificate

Insurance
Optional
No financing

Mode of repayment
Standing Instruction (SI)

Custodian fee
Term Loan
Overdraft
RM100
RM150

Documents required for both Term Loan & Overdraft
Photocopy of IC
Photocopy of ASB passbook
MOA 100%: 1 month pay slip/ other proof of income e.g. bank account statement
MOA 95% or less: no proof of income is required.

Exit Fee

First 2 years : 3% of approved loan amount
3 rd to 5 th year : 1% of approved loan amount if settled by liquidation of certificates.
However, NO exit fee if settled by own funds

CIMB ASB Loan

Below information on ASB Loan from CIMB I obtained from their website here. I'll be posting a detailed calculations and analysis of viability of using these loans for ASB. However, preliminary calculation of mine shows that you can profit from ASB loan provided that the loan is for a 10-year tenure. I'll show you my calculations in-depth in the next postings.

 

CIMB ASB Loan

Use this term loan facility to buy ASB units. While you are servicing the loan, you'll be earning the annual dividends and bonuses from your ASB investment which you can use to partly pay for the subsequent year loan repayments. It's an affordable, convenient and smart way to make your money work harder.

Eligibility
Individuals aged 18 years and above.
Malaysian or permanent resident.

Features and Benefits
Minimum loan amount of RM10,000.
High financing margin.
Low interest rates.
Flexible loan tenures.
Low processing fees.
Insurance coverage.

Fees and Charges
Click for details on ASB loan fees and charges.
Documentation Fee - ASB Loan / Secured Overdraft against ASNB Products RM50
All Letter of Offer - Stamping RM10
i) ASNB Charges - Purchase and Lien Certificate for ASB Loan RM50
ii) ASNB Charges - Lien Certificate for Secured Overdraft against ASNB Products RM100
ASNB Charges - Transfer from Book to Certificate RM10

Mode of payments
You can make payments via online banking, or
Pay your monthly installments at any CIMB Bank branch, ATM and Cash Deposit Machine (CDM), or
Set up automatic payments via standing instruction.

Act now!
Print and fill up the application form.
Visit our nearest branch and bring the application form along with supporting documents or
Contact CIMB Bank Call Centre at 1300 880 900.

Detailed Announcement On ASB 2008 Dividends (In Malay only)

Below is the detailed announcement so far but in Malay only.

KUALA LUMPUR 15 Dis. – Permodalan Nasional Bhd. (PNB) hari ini mengumumkan pengagihan pendapatan Amanah Saham Bumiputera (ASB) sebanyak tujuh sen dan bonus 1.75 sen seunit bagi tahun kewangan 31 Disember 2008, menjadikan pulangan keseluruhan 8.75 sen seunit.

Jumlah pengagihan pendapatan ASB adalah lebih rendah berbanding tahun lalu yang berjumlah lapan sen tetapi pembayaran bonus, sebaliknya meningkat 0.75 sen seunit daripada satu sen sebelumnya.

PNB pernah mengumumkan pengagihan pendapatan dan bonus tertinggi berjumlah 11.25 sen pada 2000, yang mana 9.75 sen bagi agihan pendapatan, manakala dua peratus adalah bonus.

Pengerusi PNB, Tun Ahmad Sarji Abdul Hamid berkata, pengagihan pendapatan ASB, dana amanah berharga tetap RM1, itu dibuat berdasarkan situasi ekonomi semasa negara.

“Tahun kewangan 2008 merupakan tahun kewangan yang mencabar bagi pengurus pelaburan dana ASB berikutan krisis kewangan serta kredit dan sebagai sebuah pasaran terbuka, ekonomi dan pasaran saham Malaysia juga turut terjejas.

“Meskipun demikian, melalui strategi pelaburan yang berhemat, ASB masih mampu menjana pendapatan yang memberangsangkan,” katanya pada sidang akhbar untuk mengumumkan pengagihan pendapatan ASB di sini hari ini.

Presiden dan Ketua Eksekutif PNB, Tan Sri Hamad Kama Piah Che Othman yang turut hadir berkata, PNB sebenarnya mampu membuat agihan pendapatan ASB sebanyak 11 peratus pada tahun ini.

Bagaimanapun, sebanyak empat peratus daripada pendapatan ASB itu dirizabkan ke tahun hadapan sebagai persiapan dalam menghadapi ketidaktentuan ekonomi dunia.

Ahmad Sarji berkata, PNB memperuntukkan sebanyak RM4.22 bilion untuk pengagihan pendapatan ASB dan pembayaran bonus pula sebanyak RM678.03 juta.

Pembayaran itu akan dimanfaatkan kepada 6.56 juta pemegang unit dengan jumlah langganan sebanyak 62 bilion ASB.

Sehingga 10 Disember 2008, ASB telah memperoleh pendapatan kasar sebanyak RM5.14 bilion.

Menurutnya, pendapatan dividen syarikat-syarikat pelaburan mewakili RM3.12 bilion atau 60.71 peratus daripada jumlah pendapatan kasar manakala keuntungan daripada penjualan saham pula sebanyak RM1.58 bilion atau 30.75 peratus.

Pendapatan sebanyak RM439 juta atau 8.54 peratus diperoleh daripada pelaburan dalam instrumen jangka pendek dan pelaburan lain.

Kata beliau, pengiraan pengagihan pendapatan dibuat berdasarkan purata baki pegangan minimum bulanan bagi tempoh pelaburan sepanjang tahun kewangan ASB yang berakhir pada 31 Disember 2008.

Pengiraan bonus pula berdasarkan kepada purata baki pegangan minimum bulanan yang dimiliki pelabur dalam tempoh 10 tahun bermula dari 1999 sehingga 2008.

Pembayaran agihan pendapatan dan bonus ASB akan dikreditkan ke dalam buku pelaburan pemegang unit dan pemegang unit boleh mengemaskini buku pelaburan ASB mulai 2 Januari 2009.

Semua urus niaga bagi ASB akan ditangguhkan bermula pada 19 Disember 2008 sehingga 1 Januari 2009 bagi tujuan pengiraan pengagihan pendapatan dan bonus.

'Harus' to invest in ASB & ASN

For fellow Muslims, here's information that'll clear the air regarding your life savings in ASB. Whether can or not...

In summary, it's okay to invest your money in ASB. And it's okay to use it for Hajj. And yes, you have to pay zakat for all your investments in ASB. No running away folks.

No English translation, so I just took it from JAKIM website here.

Harus Melabur Dalam ASN dan ASB

Jawatankuasa Fatwa (JKF) Majlis Kebangsaan Bagi Hal Ehwal Ugama Islam Malaysia yang bermuzakarah bagi kali ke-80 bermula pada 1 hingga 3 Februari 2008 telah memutuskan bahawa Hukum melabur dalam Skim Amanah Saham Nasional (ASN) dan Skim Amanah Saham Bumiputra (ASB) serta dividen atau bonus yang diterima adalah harus.

Oleh itu, umat Islam boleh menyertai skim pelaburan ini dan tidak perlu merasa ragu-ragu terhadap status pelaburan yang telah dibuat serta dividen atau bonus yang telah diterima.

Seramai 15 orang ahli Jawatankuasa hadir pada muzakarah kali ini dan sebanyak sebelas (11) kertas kerja telah dibincangkan pada muzakarah kali ini.

Turut hadir pada muzakarah ini ialah Timbalan-timbalan Ketua Pengarah JAKIM, Pengarah Bahagian Penyelidikan dan Pengarah Bahagian Keurusetiaan dan Perhubungan Antarabangsa JAKIM. Muzakarah kali ini juga turut menjemput pihak Permodalan Nasional Berhad (PNB) dan Unit Perancang Ekonomi (EPU) Jabatan Perdana Menteri untuk memperjelaskan isu ASN dan ASB.

Sementara itu, Pengerusi JKF, Prof. Dato' Dr. Abdul Shukor bin Hj. Husin dalam ucapan aluannya berharap Jawatankuasa ini akan berperanan dengan lebih berkesan agar impak dari penubuhan Jawatankuasa dapat dimanfaatkan oleh semua pihak dan akan sentiasa menjadi rujukan seluruh masyarakat Islam dalam dan luar negara.

ASNB fixed-priced unit trust funds a hit with investors

How true.. Crazy to play the market at the moment. Better put into the Amanah Saham unit trusts first. In comparison, my Public Mutual funds lost nearly 10% this year.. Cry...cry...cry...but never mind money in KWSP can only get back when I'm 55 years old, so lot's of time to recover.

By LAALITHA HUNT

AMANAH Saham Nasional Bhd’s (ASNB) fixed-priced unit trust funds launched in the past few years have proven to be big winners due to their commendable returns.

These equity-based funds, namely Amanah Saham Wawasan 2020 (ASW 2020) and Amanah Saham Malaysia (ASM), have achieved compounded annual growth rates of 10.78% and 6.3% respectively since the time of its launch.

ASW 2020 and ASM have been providing an annual average distribution income of 7.74 sen and 7.12 sen respectively.

To paint a clearer picture, say if an investor had placed RM100,000 in ASW 2020 10 years ago, his investment value would amount to RM251,360 today.

Similarly, by placing the same amount in the ASM fund 10 years ago, the investor would have RM173,340 today in his investment account.

ASM was launched on April 20, 2000, with an initial fund size of two billion units which were fully subscribed in 21 days.

ASM undertook its first increase in fund size two months later in June 2000 with one billion units fully subscribed in four months.

In April 2006, one billion units of the ASM open for subscription were fully subscribed in 45 minutes.

The most recent offer of ASM’s additional units was in July 2007 which saw all the 500 million units, capped at 50,000 units per investor, fully taken up in 30 minutes.

Earlier in March 2007, a total of 800 million units, also capped at 50,000 units per investor, were fully sold out in one day.

ASW 2020 also drew strong response for its subscription quota for non-bumiputra investors since its launch in August 1996.

Besides the notable payouts, both these funds have fixed prices at RM1 per unit unlike other unit trust funds, which is an attractive feature for risk-averse investors.

According to an analyst, ASNB’s strength lies in the fact that it manages a big fund and has the luxury of time.

“These two factors are crucial to beat the market at any time,” the analyst added.

To date, the fund size for ASW 2020 and ASM stands at 10.42 billion units and 7.2 billion units respectively.

This includes the additional one billion units each offered to the public last month for both these funds. In comparison to these fixed-priced unit trust funds, ASNB’s variable priced balanced fund, Amanah Saham Nasional 3 (ASN 3), did not perform as well.

ASN 3, which has a fund size of 112.91 million units, only registered a compounded annual growth rate of 3.7%.

My ASB 2008 Dividend Analysis

Now that the news is out already. This year's dividend stands at 7sen per unit as compared to 8sen per unit. That's nearly 1sen per unit down. For someone like me, this drop in dividends really matters by a few thousand already. Btw, forget about the bonuses, it only matters if you had a lot of money in ASB for the past 10 years. If you had consistent savings for let's say 3 years, count your bonus like this 3/10 X 1.75% X whatever savings you had for the past 3 years.

My analysis is perfectly simple. Based on PNB's prospectus, ASB's investment is 29.35% and 23.84% in Sime Darby and Maybank respectively. That's almost 53.19% of all ASB holdings.


Above is Maybank's performance this year. With it's fiasco in Indonesia earlier and also the credit crunch going on around the world now, no wonder the shares drop.

Sime Darby is easy, price of CPO dropped massively.

You're lucky to even get 7% is all I can say.

Till next year when dividends are announced again.

How to calculate ASB dividend and bonus

Those still confused on how to calculate your dividends this year 2008, here are some tips on how to calculate them. Found it really useful Would like to share with you guys.

Calculating Dividend

ASB dividend is computed monthly but will be distributed annually. Let's say PNB have declared that this year's dividend rate is 7%. This is how to calculate your dividend:

monthly dividend income = 0.07 / 12 x mininum balance
Annual dividend income ( this will be shown up in you balance) = sum of monthly dividend for that year

Calculating Bonus:

Bonus is given on the basis of minimum monthly bonus for the past 10 years (120 months). Bonus will be most beneficial to those who have been saving for at least 10 years. Let’s say ASB bonus is 2% this year.To calculate Bonus:

monthly bonus = 0.02/120 x minimum monthly balance

When I say montly balance, it is not this year’s months only, but including the months’ from the past 10 years.

this year bonus = sums of monthly bonus for the past 120 months

Example: Let’s say that you have invested for the past 4 years (48 months) and your average monthly balance for the past 48 months is $1000. So your bonus will be 48 x ( 0.02/120 x 1000) = $8

So that’s how to calculate the bonuses and dividends for ASB.

ps. did many grammatical corrections from the source.

ASB's 2008 payout of 8.75 sen a unit, down from 2007

That's what I thought also. ASB investments are 100% in equities. No way they can beat the market. Plus, according to Tan Sri Hamad Kama Piah Che Othman the size of the fund is getting bigger. When all other investment opportunities are gone, guess where everyone's putting their money at. At least most of bumiputeras anyway.

KUALA LUMPUR, Dec 15 - Unstable market conditions have led Amanah Saham Nasional Bhd (ASNB) to declare total payout of 8.75 sen a unit for the Skim Amanah Saham Bumiputera (ASB) for 2008, down from 9.00 sen declared last year.

The payout comprises 7.00 sen per unit in income distribution or totalling RM4.22 billion and a bonus of 1.75 sen per unit for a total of RM678.02 million for its 6.56 million unitholders who hold 62 billion units of ASB

ASN's parent company Permodalan Nasional Berhad chairman Tun Ahmad sarji said up to Dec 10, 2008, ASB has recorded a gross income of RM5.14 billion, Bernama reported today.

The dividend income from investee companies contributed RM3.12 billion or 60.71 percent of the gross income and profit from the sale of shares contributed RM1.58 billion or 30.75 percent, he said.

The rest of the income at 8.54 percent or RM439 million was derived from investments in short-term instruments and other investments.

ASB is a fixed price equity income fund, open to Bumiputeras aged 12 years and above, which is aimed at generating long-term, consistent and competitive returns to the unitholders while ensuring the preservation of capital at minimal risk tolerance level.

PNB president and group chief executive officer Tan Sri Hamad Kama Piah Che Othman said under the unstable market conditions, four percent reserves were carried to next year.

"PNB restructures its position regularly because we are a long-term fund manager. We want to maintain our performance and portfolio to consistently provide competitive returns," he said.

Last year, ASNB announced an income distribution of 8.00 sen per unit and a bonus of 1.00 sen per unit for ASB, an increase of 0.70 sen per unit compared with the income distribution of 7.30 sen per unit declared in 2006.

The bonus payout was 1.00 sen per unit in 2007 compared with 1.25 sen per unit the previous year.

The total of 9.00 sen per unit for ASB income distribution and bonus meant an increase of 0.45 sen per unit compared with 8.55 sen per unit for 2006, benefitting 6.35 million unit holders who then held 55.22 billion units of ASB.

Up to 13 December, 2007, ASB has recorded a gross income of RM5.13 billion or an increase of RM1.16 billion or 2.19 percent against RM3.97 billion in 2006.

2008 ASB Dividends Announced Today

A dividend of 7 sen per unit and a bonus of 1.75 sen per unit have been declared for Amanah Saham Bumiputera (ASB) fund for this 2008 year.

Dividends units will be added automatically into your fund and will be available for withdrawal 2nd of January 2009.

more news coming soon on this...

How to become very rich in Malaysia

Some tips I collected somewhere. Try any of these tips and you'll become rich beyond your dreams... Dave

Connections and the ability to flip assets can get you going places

If you have ever wondered how to get rich in Malaysia – fabulously rich and very quickly at that – here’s a model that you might want to look at very closely. Not easy to do but if you do have a couple of projects in the bag, it will set you up for several lifetimes.

First you need connections – strong ones, the higher the better and if it goes right up to the top all the better. You need this because you need to convince the powers that be that your projects are good.

But you might ask if your projects are so good, why do you need connections? Why don’t you just go out and execute? Good questions, those. Here’s the answer - you need the state to give you something to do the deal that will help the nation.

Still can’t figure it out? See, it’s like this. You want to help the country, right? The country needs say a port. But you can’t build a port just like that. You need land to build a port. You tell the state or federal government you need land – cheap land, preferably free to build the port.

Or to take another example, you want to help the country by building a power plant. But look, you need land too and not only that you need the power to be sold. So you want an agreement – an iron-clad one to sell the power to Tenaga Nasional and to pass through all costs.

You see, that’s your reward as an entrepreneur – you get someone else to build the power plant, they guarantee the performance of the plant and someone else guarantees to buy your power and pay for all your costs. Nice deal? You bet. Billionaires have been made that way.

Or you may want to start an air hub. If you are persuasive enough, you can even convince the government to compulsorily acquire the land and sell it to you cheap. Once you have cheap land, lucrative contracts and concession agreements, the sky’s the limit.

Let’s take it a step further. If you want to realise the value of all of these things that you have and still keep control of them, it’s nice to have a listed company into which you can inject them. Inject one asset for shares and you gain control of the company.

And then inject others over the years for cash, taking the money out of the company. Who says you can’t have your cake and eat it too?

Do it right and get a flow of assets to inject in (you can do anything with discounted cash flow valuations – just change the discount rate, and presto, the value changes!), and you get a tidy flow of profits and cash into your personal accounts over the years. I mean a really tidy flow.

Just how much can you make this way, you ask? Why don’t you take a guess first? Did you say RM500mil? Guess again. RM1bil? How about five times that and you may be getting into the right order of magnitude.

One Tan Sri Syed Mokhtar Albukhary actually made some RM4.5bil that way - actually more because he still controls the listed company. (
MMC’s latest RM1.7bil deal irks investors7) We are not saying he is the only one, which makes your chances of joining the ranks better – if you are connected to high places that is.

But then again, if things change – and that’s still a big ‘if’ – you might not find it so easy anymore.

# P. Gunasegaram is managing editor of The Star. He thinks it is high time we changed the way we did business

Amanah Saham Nasional TV ad (Malaysia-1981/198x)

ASN TV advert from those days...

History of Amanah Saham Nasional

Some stuff on the history of ASN...

1. INTRODUCTION

The unit trust scheme known as Amanah Saham Nasional (ASN) is a scheme
for mobilising Malay savings for equity investment. It was launched in
1981 as a major vehicle for implementing the transfer of corporate
assets held under trusteeship to the Bumiputera. Unlike BIMB and TH,
ASN is aimed mainly at improving the economic conditions of the
Bumiputera, especially the Malays and therefore, the ethnic aspects
overshadow the religious ones. Nevertheless, as the relationship
between Islam and Malayness are so intertwined, ASN has also been
associated with the Islamisation package of Dr. Mahathir.

As discussed in the previous chapters, the government adopted the NEP
to restructure society so that the economically backward Malays would
be able to own at least 30 per cent equity in the corporate sector.
Previous experience shows that the Malays were more interested in
capital appreciation than in equity ownership. In other words, the
shares allocated to the Malays were sold when the price went up, thus
defeating the objective of the NEP. Research also indicated that when
Malay shareholders sold their shares, the proceeds were used for
consumption and not for investment purposes.

In order to find a more effective way of achieving the aims and
aspirations of the NEP, the Government established a Working Committee
in 1977 under the chairmanship of Tun Ismail Mohamed Ali. The
committee drew up policies for the establishment of a Bumiputera
Investment Fund. Among these were:

a) The information of a fund as a business entity with the
authority to invest in all forms of investment and the authority to
obtain loans;

b) The establishment of a unit trust fund to distribute these
investment to the Bumiputera community

As a result, the Bumiputera Investment Foundation (BIF), or Yayasan
Pelaburan Bumiputera (YPB) was set up on 9 January 1978 under the
Companies Act, 1965, as a company limited by guarantee. The YPB
provides funds for the purpose of subscribing to shares in companies
which wish to issue their shares to the Bumiputera community in
compliance with the NEP. It also formulates policies and guidelines
for Bumiputera equity investment participation. It has acted as a
catalyst in encouraging the savings habit, developing entrepreneurship
and investment skills among the Bumiputera community.

To further the YPB's objectives, in March 1978, the National Equity
Corporation (NEC) or Permodalan Nasional Berhad (PNB) was incorporated
as a wholly owned subsidiary of the foundation. PNB is a commercial
organisation, managed by professionals who are responsible for
selecting and operating the portfolio of shares of limited companies
in Malaysia to be held in trust for subsequent sale to individual
Bumiputera investors. In May 1979, National Unit Trust Limited also
known as Amanah Saham Nasional Berhad (ASNB) was then incorporated as
a wholly owned subsidiary of PNB to establish and manage a National
Unit Trust (NUT) or Amanah Saham Nasional (ASN) scheme as an
intermediary for the channeling of shares to the Bumiputera community .

To launch ASN, the Government instructed the Bumiputera companies (eg.
PERNAS) and statutory bodies (eg.SEDCS) to sell part of their equity
portfolios to the PNB at book value. Thus, it was reported that PERNAS
had to suffer a substantial loss for the year 1982 because it had been
forced to transfer more than RM 1 billion of assets to PNB. This
government-imposed sale of assets resulted in serious opposition from
PERNAS and other affected Bumiputera Companies.

2. ASN SCHEME: SOME SALIENT FEATURES

The main features of the scheme have been carefully devised to
encourage the widest possible individual participation based on PNB's
preparatory research to ascertain the socio-economic profile of the
typical Bumiputera unit holder. At the same time, incentives are
provided in the scheme, as a form of savings and investment.
Therefore, the scheme does not have exactly the same features as other
ordinary shares. In ordinary shares, the buying and selling prices of
each unit are quoted on a daily or weekly basis. The unit-holder, as a
risk-taker, can expect to make capital gains in addition to a certain
level of investment yield as dividend. It is the prospect of capital
gains rather than investment which is the typical motivation behind
participation of in such shares. Unlike ASN, until 1991, the scheme
holder could only resell their units to ASNB at the original par value
of RM . This condition was designed to build a strong Bumiputera
equity ownership.

The ASN scheme is based on a clear separation of equity ownership from
corporate control. Ownership is controlled by its unit holders, but
they do not have the right to appoint or change the managers.
Immediate control, as distinct from ultimate control, including
decisions regarding the investment portfolio, rest with a management
team appointed by PNB and the YPB. By way of compensation for this
separation of ownership and control, unit- holders were guaranteed a
minimum annual dividend of 10 percent until 1990. In addition, the
first RM 400 of investment income is tax-exempt resulting in earlier
yield of up to 15 percent.

3. PROGRESS AND DEVELOPMENT

The year 1990 marked the passing of an important phase in the
operation of PNB. During the past decade, the operations of PNB have
been expanded and its original objectives have been achieved. PNB
started the decade as an investment organisation and by 1990, it had
grown to become an important institution for the mobilisation of
Bumiputera savings.

In December 1990, ASN had a total of 2,460,977 unit holders as
compared with only 841,200 on 31 December 1981, the year which ASN was
launched (PNB Annual Reports 1981 and 1990). Net investment of ASN
unit holders rose from RM 299.1 million as of 31 December 1981, to RM
8, 511.4 million as of 31 December 1990. Through prudent investment of
the portfolio of ASN, the unit holders been rewarded with satisfactory
returns. During the decade, the return on investment ranged from 13
percent to 20 percent a year comprising dividends and bonus units
provided by the PNB. The total dividends and bonuses paid out to unit
holders rose from RM 75.4 million in 1981 to a cumulative amount of RM
4,135 on 31 December 1990 (PNB annual report 1990).

In December 1990, the PNB appointed an independent actuary to survey
the investment return of pooled funds and savings institutions in
Malaysia over the previous 10 years. The results of the survey showed
that ASN provided the highest annualised rate of return on investment.
As an example, an annual investment of RM 1,000 a year in ASN from
1981 would have accumulated to RM 31,762.67 on January 1991.

In view of the growth of PNB during the last decade up to 1990, it
undertook a strategic review of its operations. As a result, various
programmes were implemented which would provide the necessary
preparations to position PNB and to enhance its expected role in the
decade of the nineties.

A major work program was to enable transactions in ASN to be conducted
at variable unit prices from 2 January 1991 as specified by its Deed
of Trust. Another project was the launching of a new scheme called
Bumiputera Trust Scheme (Amanah Saham Bumiputera or ASB) on 2 January
1991 with a fixed transaction price. This was to enable Bumiputera
unit holders to continue investing in a scheme with a similar features
to that of ASN before the latter commenced operations based on market
prices on 2 January 1991.

In 1991, PNB faced a new challenge, that of managing two unit trusts
with different characteristics. The challenge included transforming
ASN, the original scheme, into a conventional unit trust scheme while
at the same time promoting ASB, a new scheme with guaranteed buying
and selling prices similar to the old pre-1990 ASN.

On 2 January 1991, ASN began transactions at variable unit prices.
ASN's pricing is subject to the market performance of the shares of
companies quoted on the KLSE. The new pricing system thus requires
unit holders to follow the movements of share prices on the KLSE and
the various factors affecting them. The new pricing was well received
by unit holders as reflected by the overall performance of ASN in
1991. As of 31 December 1991, the total number of unit holders in ASN
was 1,310,499 with a total investment of 1,666.82 million units (PNB
Annual Report 1991: 11) ASN unit holders have also begun to adapt
themselves as investors to the new pricing arrangement and have been
able to take advantage of the capital appreciation of ASN units as
indicated by the large number of units sold, when they considered the
prices to be attractive.

To ensure separate management of ASN's investments, a new company,
Pengurusan Pelaburan ASN Berhad (ASN Management Investment Limited)
was incorporated on 20 June 1991. This separate structure enables the
investment managers of ASN and ASB to concentrate entirely on their
respective portfolios.

PNB's main investments is in four main sectors, i.e. industry,
plantation, mining, property and finance (PNB Annual Reports). Its
sources of investment can be divided into four:

a) Purchases from stock-market and institutions;
b) Allocation of shares through companies;
c) Restructuring from the Ministry of Trade and Industry;
d) Transfer Scheme from government to Bumiputera

Where can you do Amanah Saham transactions?

Here's a list of places :

1. At PNB offices around the nation. Check :- http://www.asnb.com.my/english/branches.htm
2. At post offices.. but can deposit and withdraw up to RM5,000 only. Check http://www.pos.com.my/V1/main2.asp
3. At Maybank:- www.maybank2u.com.my Unlimited
4. At CIMB - www.cimb.com.my Unlimited
5. At RHB - www.rhb.com.my Unlimited

Your money in ASB will more than double in 10 years

Let's say you have RM10,000 by end of this year. If you leave it in ASB for next 10 years, your money will more than double! RM10k will turn into RM21k!

Here are results of ASB performance since 1990. The bonus is average of 10 years savings. eg if you have rm10k for 10 years, you should get 10/10 x 1%.

2007 8.00 + 1
2006 7.30 + 1.25
2005 7.25 + 1.75
2004 7.25 + 2.00
2003 7.25 + 2.00
2002 7.00 + 2.00
2001 7.00 + 3.00
2000 9.75 + 2.0
1999 8.5 + 1.5 + 2 (2% is special bonus)
1998 8.00 + 2.50
1997 10.25 + 1.25
1996 10.25 + 3.0
1995 10.0 + 3.00
1994 9.50 + 4.50
1993 9.00 + 4.50
1992 7.50 + 5.00
1991 8.50 + 4.00
1990 8.00 + 6.00

Compare that with a Bandar Utama house sold for RM280K in 1997, now worth about RM520K. If you put into ASB, you would get RM588K! That's RM68k more. Not forgetting the risk if you end up buying a house in Bukit Rahman Putra or Rawang!

Forget about rentals, most of it will be wiped of clean for renovations and repairs anyway.

Where ASB Invests… The Top 20 KLSE Counters..

Where ASB Invests… The Top 20 KLSE Counters..

ASB Suspension of Transactions 19/12/2008 to 1/1/2009

PNB Confident Of Distributing 7-8 Pct Dividend For ASB, ASN Unit Holders

This is good news indeed - Azmi Shahrin

December 03, 2008 17:14 PM

KUANTAN, Dec 3 (Bernama) -- Permodalan Nasional Bhd (PNB) is confident of distributing between seven and eight percent dividend for unit holders of Amanah Saham Bumiputera (ASB) and Amanah Saham Nasional (ASN) despite the uncertain global economic environment.

President/chief executive officer, Tan Sri Hamad Kama Piah Che Othman, said PNB was expected to announcement the dividends for the two funds this month.

He said distributing the competitive dividends was possible based on PNB's previous record during the 1998 financial crisis.

"PNB, in its 28 years of existence, has never failed to pay a dividend.

"We hope to continue to pay the same rate of dividend like in the past," he said.

Hamad Kama Piah said this after handling over PNB's business zakat of RM2.35 million to the Tengku Mahkota of Pahang, Tengku Abdullah Sultan Ahmad Shah, who represented Pahang Islamic Affairs and Malay Customs Council (MAIP) here today.

On Nov 24, PNB declared a seven sen income distribution for Amanah Saham Nasional 3 Imbang for the financial year ended Nov 30, 2008.

He said the dividend rates of between seven and eight percent were considered high considering the present global economic crisis and the fall in share prices.

Hamad Kama Piah said PNB investments, especially those overseas, had been affected by the uncertain global conditions.

"PNB invests in share markets and big companies. If the companies suffered losses PNB will also be affected although not too badly," he said.

He said PNB currently has 19 million investors with investments of RM89 billion.

-- BERNAMA

--
Azmi Shahrin
012-9198557

~~~~~~~~~~~~~~~~~~

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ASM Launch 1 Dec 2008

One billion ASM units on offer was started yesterday 1/December. 
Just curious what are the return of those funds that launch by PNB (Permodalan Nasional Berhad), above attached are the 3 years average return.

ASW2020, still the highest!

Information extract from: http://www.asnb.com.my/