Tuesday August 4, 2009
PNB: No sales charge for AS 1Malaysia unit shares
KUALA LUMPUR: No sales charge will be imposed on the sale of Amanah Saham 1Malaysia which will be opened for public subscription tomorrow.
Permodalan Nasional Bhd (PNB) president and group chief executive Tan Sri Hamad Kama Piah Che Othman said this was despite the provision for the imposition of sales charges. He did not give the reason for this.
Hamad said AS 1Malaysia, an equity income fund, could invest up to 90% from its value in the equity market.
He added that it was expected to generate competitive returns when the economy and market fully recovers.
“For example, Amanah Saham Wawasan 2020 and Amanah Saham Malaysia which are both fixed price equity income fund has provided income distribution of between 6.25% to 8% in the past five years, which is comparatively higher than the prevailing fixed deposit rate of commercial banks,” he said.
The RM10bil AS 1Malaysia would be open to all Malaysians aged 18 years and above.
The minimum initial investment is 100 units and the minimum additional investment is one unit. The price of one unit is RM1.
Units will be available for subscription at all Amanah Saham Nasional Berhad branch offices and agents nationwide including Maybank, Pos Malaysia, CIMB Bank and RHB Bank.
Transactions at ASNB Offices and Pos Malaysia will be from 8am to 4.15pm. Transactions at ASNB agents will be from 9.15am till 4pm to 4.30pm depending on their respective operating hours.
Investments in cash, bank draft and banker’s cheque made payable to the account holder or Amanah Saham Nasional Berhad are accepted at all ASNB offices and agents.
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