More shares for Indians

> Amanah Saham offer starts on Jan 29

PUTRAJAYA: An additional 1.5 billion units of Amanah Saham 1Malaysia (AS 1Malaysia) by Amanah Saham Nasional Berhad (ASNB) will be offered to the Indian community starting from Jan 29.

MIC president Datuk Seri Dr S. Subramaniam said the initiative was to encourage the Indian community to invest in unit trust funds.

“The initiative under Budget 2018 demonstrates the government’s commitment to resolve issues pertaining to the Indian community on a long term basis.

“With the additional 1.5 billion units for the Indian community, it would further increase the opportunity for equity participation by the Indians,” Subramaniam said during a press conference at Menara Usahawan yesterday.

Also present were Permodalan Nasional Bhd group chairman Tan Sri Wahid Omar and Socio Economic Development of the Indian Community director general Prof Datuk Dr N. S. Rajendran.

Subramaniam said the initiative will benefit more than 50,000 Indians in the country.

AS 1Malaysia was first launched in 2009 to provide regular and consistent income while preserving the unit holder’s capital over a long term period through diversified portfolio investments.

Investors can subscribe to the additional 1.5 billion units by visiting ASNB branches or its agents which include Maybank, CIMB, RHB, POS Malaysia, Affin Bank, Alliance Bank, AmBank and Bank Muamalat.

Existing AS 1Malaysia account holders can also top up their investments through www. myasnb.com.my.

Subramaniam, who is also health minister, said besides the additional units, the government has also allocated a special funding of RM500 million over a period of five years in the form of interestfree loan schemes.

“Qualified B40 Indians will be provided with an interest free loan of RM5,000 per household, which will then be invested in AS 1Malaysia.

“The investment scheme would eventually supplement the savings of 100,000 participants from the B40 group,” he said.

Subramaniam added that the scheme will be launched by Prime Minister Datuk Seri Najib Abdul Razak next month.

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