Malaysia’s Financial Blogger | Financial Freedom Ideas | imDavidLee.Com

Maybankard

27th of July is the day that i get the 1st credit card which is from Maybank. It takes about 3 weeks to proccess. As a normal human, they need to prepare something when applying the credit card but fortunately i no need to prepare anything since my salary is bank in to Maybank. As long as ur monthly income exceed or equal to Rm1500 then will do. So, the bank officer just need to photostat my identity card for pre-approve only.

As i know, maybank credit card have 2 types for normal level user which are Maybank Visa Wave and Visa Flex. Do you know how to differentiate between each other?

Maybank Visa Wave which is the one that i personally own currently, it will waived you 2 years only means that there will no have annual fees for 1st 2 year. But i heard my seniors who are my work colleague said that you must call them after 2 year if they did not make any call to ask you whether wanna continue the credit card service or not. The another type is Visa Flex, it will waived you forever but u must maintain at least 2 transaction per month.

Age requirement:
As a principal cardholder, you must be aged between 21 to 65 (inclusive).
As a supplementary cardholder, you must be at least 18 years old.

Income requirement:

Allow Blog Feeds

500 Million Additional Units for ASM

Amanah Saham Nasional Berhad (ASNB), a wholly-owned subsidiary of Permodalan Nasional Berhad (PNB) is offering 500 million new units of Amanah Saham Malaysia (ASM) to be opened for subscription on Wednesday, 18 July 2007.

The offer will commence concurrently at all ASNB Offices and agents branches at 9.30am nationwide, including Sabah and Sarawak.

To ensure a fair distribution to the investing public, a maximum investment limit of 50,000 units has been set per accountholder during the offer period from July 18, 2007, until 24 July, 2007.

ASM is a fixed price unit trust fund and opened to all Malaysians aged 6 months old and above.
PNB President and Group Chief Executive Tan Sri Dato Hamad Kama Piah Che Othman said the additional units was aimed at new investors who had missed out on the earlier opportunity and existing investors who seek to top up their investments.

In line with the upcoming 50th Merdeka Celebration, PNB would like to present all Malaysians with an opportunity that will allow them to share with the nations prosperity, he said during a press conference in Kuala Lumpur on Friday, 13 July 2007.

ASM was launched on 20 April 2000 with a fund size of 2 billion units which was fully subscribed in 21 days. This is the fourth time that ASM has offered new units for subscription and the response has so far been overwhelming.

Last year 1 billion units of ASM were fully subscribed in less than 2 hours and another 1 billion units were fully subscribed within one day when the new units were opened for subscription in March, 2007.

In the last seven years since its inception, the average annual income distribution declared by ASM is 7.02 sen per unit.

Allow Blog Feeds

Public Mutual Old System Vs New System

There have been quite a few people get confused by the Public Mutual new system. Yes the calculation is slightly different now. So which calculation actually benefit the investors more ? The answer is…
*People who get used to previous system can refer to Case B.

Case A:Assume that investor would like to invest MYR 10k into PFEPRF during offer period excluding service charge which the NAV is RM0.25 and the service charge is 5.45%.

Service charge 5.45% = 0.0545

Total service charge = Effective Investment amount * Service charge
= MYR 10,000 * 0.0545
= MYR 545

Total payable amount = Investment amount in PFEPRF + Total service charge incurred
= MYR 10,000 + MYR 545
= MYR 10,545.00

Number of units = Effective Investment amount/NAV per unit
= MYR 10,000/RM0.25
= 40,000 units

Case B:
Investment MYR 10k inclusive of initial service charge(5.45%).

Effective investment amount = Total Paid Amount/(1+service charge)
= MYR 10,000/(1+0.0545)
= MYR 9483.17

Number of units = Effective investment amount/NAV per unit
= MYR 9483.17/MYR 0.25
= 37932.68 units

Effective investment amount = Total NAV
= NAV per unit * Number of units

Public Mutual Property and Resorts Fund

Public Bank’s wholly owned subsidiary, Public Mutual will be launching two new funds on 10 July 2007, which are Public Far-East Property & Resorts Fund (PFEPRF) and Public Islamic Select Bond Fund (PISBF). PFEPRF is an equity fund to achieve capital growth over the medium-to long-term period by investing in property investment and development, hotel and resorts development, and real estate investment trusts (REITs) in domestic and regional markets.

Launching at a NAV of MYR 0.25 per unit, PFEPRF is suitable for moderate investors who can expect longer periods of market highs and lows in capital growth. During the 21-day initial offer period from 10 July 2007 to 30 July 2007, a promotion service charge of 5.45% of NAV per unit is levied. The minimum initial investment for the fund is MYR 1k and the minimum top-up is MYR 100.