PRIME MINISTER LAUNCHES AS 1MALAYSIA
31 July 2009

 

KUALA LUMPUR – Prime Minister Dato’ Sri Mohd Najib Tun Abdul Razak today officially launched Amanah Saham 1Malaysia, an all-Malaysian fund managed by Permodalan Nasional Berhad (PNB).

AS 1Malaysia is a fixed price equity fund priced at RM1.00 per unit with a total fund size of 10 billion units, the biggest fund offering by PNB thus far.

Also present at the launch were the Chairman of PNB, Tun Ahmad Sarji Abdul Hamid and PNB President & Group Chief Executive, Tan Sri Dato’ Hamad Kama Piah bin Che Othman.

AS 1Malaysia will be opened for public subscription beginning August 5, 2009, during a 30-day offer period beginning August 5, 2009 till September 3, 2009.

The minimum initial investment of AS 1Malaysia is 100 units and a minimum additional investment of 1 unit.

To ensure a wider participation from the investing public, the maximum investment limit during the 30 day offer period has been set at 50,000 units per accountholder for those between the ages of 18 and 55. The maximum investment limit for those above 55 is set at 100,000 units per accountholder. This is to provide a choice of investment diversification for this age group to plan for their golden years. The maximum investment limit will be void after the initial 30 days offer period. Redemption of units during the offer period is not permissible.

During the offer period, subscription of the units is subject to an allocation of 50 per cent for Bumiputras, 30 per cent for Chinese, 15 per cent for Indians and the remaining 5 per cent for other minorities.

The allocation of the units is based on the country’s ethnic tabulation demography aimed at generating wider participation from all levels of society and at the same time, to achieve a diversification for the trust funds’ investment profile.

The AS 1 Malaysia units will be made available for subscription at all ASNB branch offices and Pos Malaysia offices nationwide from 8 a.m. till 5.00 p.m. and at ASNB agents, Maybank, CIMB Bank and RHB Bank from 9.15am till 4.00 to 4.30pm depending on their respective operating hours. No sales charge will be imposed on AS 1Malaysia units offered during the initial 30 days period.

Meanwhile, PNB, Maybank, RHB Bank and Pos Malaysia will jointly contribute 100 free units of the AS 1Malaysia to nearly 50,000 first year undergraduate students who recently enrolled in the public higher learning institutions’ 2009 academic session.