Indian youths urged to take advantage of AS1M allocation

KUALA LUMPUR: The Indian youths should take advantage of the 1.5 billion additional units of Amanah Saham 1Malaysia (AS1M) which will be opened for subscription from Jan 29, says MIC Youth chief, Datuk C. Sivaraajh.

He said it was the perfect opportunity for young Malaysian Indians to diversify their future income and make a secure investment in both Malaysia’s future and ensure financial security for their future.

“Most of the banks in Malaysia already act as agents for Amanah Saham Nasional Berhad (ASNB), where Malaysian Indians can go and sign up for the units and also increase their unit shareholding to 30,000 units if they had previously bought AS1M units.

“Buying units in AS1M only requires a minimum investment of RM100, with investors only needing to bring their identification cards to be allocated with the necessary units,” he said in a statement here yesteday.

He added young parents could also buy AS1M units for their children as the eligibility was not restricted to any age, in that it worked as an early investment for their children’s education, among others.

MIC president Datuk Seri Dr S. Subramaniam on Tuesday said more than 50,000 Indians were expected to benefit from the 1.5 billion additional units.

He said this initiative, announced by Prime Minister Datuk Seri Najib Tun Razak during the tabling of the 2018 Budget, demonstrated the government’s commitment to resolve issues pertaining to the Indian community on a long term basis, as well as provided investment opportunities that generated consistent income. — Bernama