Remaining 1.6 Billion ASM Units Offered To All Malaysians From July 21

KUALA LUMPUR, July 15 (Bernama) -- Permodalan Nasional Bhd (PNB) will be offering the remaining 1.6 billion Amanah Saham Malaysia (ASM) units, including those initially set aside for Bumiputeras, for subscription by all Malaysians from July 21.

PNB president and group chief executive Tan Sri Hamad Kama Piah Che Othman said a maximum investment limit of 20,000 units would be imposed on each account holder for seven days until July 27.

"Thereafter, investors can subscribe for the ASM units without any maximum investment limit depending on the amount of units left. Sales for the additional ASM units are based on a first-come, first-served basis," he told reporters here today.

The 1.6 billion units are part of the 3.33 billion additional ASM units announced by Prime Minister Datuk Seri Najib Tun Razak when launching the 2009 Malaysian Unit Trust Week in Johor Baharu on April 20.

Of the 3.33 billion units, Bumiputera investors were allocated 50 percent, Chinese 30 percent, Indians 15 percent and other races five percent.

Previously, ASM units were open to Malaysians aged six months and above irrespective of race.

ASM was launched in 2000 with an initial fund size of 2 billion units and all had been taken up within 21 days.

Since then, new additional units have been offered six times totalling 7.63 billion. The trust units allocated for the Chinese and Indians have been fully subscribed.

Hamad said the quota on the additional 3.33 billion units was imposed for three months from April 21 to diversify investor profile.

"The three-month period was sufficient to give all parties enough time to invest and to allow comprehensive participation," he said.

Asked whether PNB would lose if the Bumiputera quota was retained, he said: "We can create new units when we want to lauch new products and we can add more. When we have the need for anyone to make additional investments, we can create new units."

PNB has various funds for subsription by Bumiputera investors. Among them are Amanah Saham Wawasan (1.7 billion), Amanah Saham Didik (1.6 billion), Amanah Saham Nasional (921 million) dan Amanah Saham Nasional 2 (2.2 billion).

ASM was the second trust fund launched by PNB for all Malaysians.

Asked on Amanah Saham 1Malaysia, Hamad said: "Let the Prime Minister make the announce announcement. The date has been set."

Najib, when speaking at a gathering on the occasion of his 100th day in office on July 11, said the government had agreed to PNB establishing a new unit trust fund called Amanah Saham 1Malaysia with a size of 10 billion units.