As highlighted during 2011 Budget, Prime Minister of Malaysia recently launched Amanah Hartanah Bumiputera (AHB) investment fund. AHB is managed by Pelaburan Hartanah Bhd (PHB) and has the fund size of 1 billion units. The fund size will be increased by another 500 million units next year.
AHB is a syariah compliant unit trust scheme and it would enable Bumiputera investors to own real estate assets with a minimum investment of RM500 and maximum of RM200,000.
Subsequently, additional investment can be done in multiple of RM100. For withdrawal, investors are allowed to do it once a month with minimum amount of RM500. Minimum account balance is RM500.
It is open to Bumiputera above three months of age, with investors below the age of 18 requiring a Malaysian legal guardian signatory.
The unit trust is a fixed price fund and will be sold at RM1 a unit. Bumiputera who are interested to participate in the scheme can go to Maybank branches nationwide to buy the AHB units.
[continue reading…]
Citibank Global Transfer gives you the convenience of transferring funds online instantly between your own Citibank accounts and other Citibank accounts across Asia-Pacific. It can be done at ay times, 24 hours a day, 7 days a week through your online banking account.
With Citibank Global Transfer, you have an option for fund transfers in local currency or other foreign currency. Every transfer subjected to flat transfer fee of USD10 per transaction.
There is no minimum amount you can transfer per transaction. However, there is a maximum limit up to USD 12,500 per day and multiple transactions is allowed.
To set up a Citibank Global Transfer, you just need the recipient’s name and account number. Funds are debited from your account and credited to the recipient’s account instantly.
[continue reading…]
We continue to maintain our OVERWEIGHT call on the Auto sector, which will continue to remain favorable next year pointing that valuations remain attractive. Our top pick for the sector is now UMW, given the stock’s laggard performance and in view of the turnaround in its oil and gas bolstering FY11 profitability. Nevertheless, we continue to like Tan Chong in view of its earnings trajectory over the next 3 years as it transforms into a regional player from its exposure in the Indochina and BIMP-EAGA market. On the autoparts side, Delloyd Ventures is our favorite pick in favour of its Indonesian exposure from both the autoparts and plantation division, of which, valuation for the latter remains undemanding despite the recent rally in CPO prices.
Below are the target prices for automotive sector.
[continue reading…]
Amanah Saham Nasional Berhad (ASNB) has announced an income distribution of 6.00 sen per unit for Amanah Saham Nasional 3 Imbang (ASN 3) for the financial year ended 30 November, 2010.
This is an increase of 0.5 sen per unit compared with the income distribution of 5.50 sen per unit last year.
The income distribution will involve a total payment of RM7.3 million and would benefit a total of 10,952 unit holders who hold a combined 121.02 million units of ASN 3.
[continue reading…]
Investors and analysts were generally bullish on Petronas Chemicals Group Bhd’s (PCG) listing on Bursa Malaysia tomorrow, saying Southeast Asia’s largest initial public offering (IPO) to date will hold its ground although tension in the Korean peninsula continues to threaten sentiment.
Apart from the chemical company’s strong financial fundamentals, analysts say it enjoys strong leverage from its parent company, the national oil corporation, Petroliam Nasional Bhd (Petronas).
Investment houses giving early target or fair prices for PCG. Most of them generally targeted higher than IPO subscription prices. For comparison the IPO price is RM5.04 for individual and RM5.20 for institutional investors
[continue reading…]
