Wednesday, July 15, 2009

MARK YOUR CALENDAR!!! Unsold ASM units open to all Malaysians from July 21

Permodalan Nasional Bhd (PNB) will open the remaining 1.6 billion units of Amanah Saham Malaysia (ASM) for subscription to all Malaysians beginning July 21, after the expiry of quota-based offer period on July 20.

These unsold units are part of the 3.33 billion additional ASM units announced on April 20. Of the 3.33 billion units, 50% was allocated for bumiputras, 30% for Chinese, 15% for Indians and the remaining 5% for other races.

"PNB had placed the quota for a period of three months in an effort to promote this fund to all races and to diversify investors' profile. We think this three-month period was sufficient to enable all to invest," PNB's president and group chief executive Tan Sri Hamad Kama Piah Che Othman said at a media briefing here on July 15.

"The quotas for Chinese and Indian had been fully taken up. But beginning July 21, those who want to invest more can do so," he added.

To ensure fair distribution to the investing public, each investor will be allowed to buy maximum 20,000 ASM units from July 21 to 27. The investment limit will be void after July 27. The purchase of ASM units will be on a first come first serve basis.

ASM is an equity-income fund launched in 2000 with a fund size of two billion units, which were fully subscribed in 21 days. Since its introduction, ASM had offered six additional launches with total units of 7.63 billion.

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