Amanah Mutual Bhd (AMB), a wholly-owned subsidiary of Amanah Saham Nasional Bhd (ASNB), recently launched a 300-million unit Syariah-compliant fund. The fund called AMB Dana Aqeel Capital Protected.
The Shariah compliant close-ended fund will have a maturity period of three years and has a nominal value of 50 sen per unit.
The fund would invest a minimum of 85 per cent of its net asset value (NAV) in locally issued Islamic bond or sukuk to provide capital protection at maturity. The remaining 15 per cent of the fund’s NAV would be invested in a diversified portfolio of Shariah compliant equities for potential returns including cash equivalent instruments for liquidity of the fund.
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On the 25th February 2010, ECM Libra Investment Bank Berhad has launched their newest online trading portal, ecmmoney.com. With the new online portal, they hope to reach more retail investors throughout the country and make online investment easier for retail and professional traders.
With ecmmoney.com, you will be able to buy and sell Bursa Malaysia shares online easily and no remisier services is necessary. The portal also act as one-stop center for local and international financial news.
Together with the launched, ECM Libra run a promotion on brokerage rate for cash upfront package. The detail on the promotion are,
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I believe most of you know that we are eligible to withdraw EPF or KWSP money from account II for the purpose on buying new house or reducing loan amount or monthly loan repayment. I believe this is great facility offered by EPF.
However, I am shock when I come across an article where someone claim that EPF scam us if we withdraw money from Account II for monthly housing loan repayment.
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March 14, 2010
Banking,
Home Loan
Affin Bank,
Alliance Bank,
AmBank,
Bank Islam,
BFR,
CIMB Bank,
Citibank,
Conventional,
EON Bank,
Hong Leong Bank,
HSBC,
Islamic,
Maybank,
OCBC,
Public Bank,
Rate,
RHB Bank,
Standard Chartered
With recent hike of Overnight Policy Rate (OPR) by Bank Negara Malaysia (BNM), Banks do not take a long time to raise BLR and BFR. The first bank to raise the BLR is Bank Simpanan Nasional.
BLR normally used in conventional loan package while BFR normally used in Islamic loan package. However, most of the time BLR & BFR figures are the same.
The table below show the latest BLR or BFR rate for most of banks in Malaysia as at 12th March 2010. This table is no longer maintained. The latest rates can be found on this page.
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CIMB recently launched a new conventional structured product that may allow high-net worth investors to earn a fixed annualised return of 4.88 per cent, plus an equity style dividend. The product called CIMB Twin Yield Income Investment.
The product is for investor who look for a combination of safety, good regular income and potential further upside. The product yields two returns, from high cumulative fixed-income returns referenced to CIMB group’s “AA3” rated sub-ordinated note and variable equity based dividends from markets where CIMB group is well positioned in.
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