Malayan Banking Bhd’s has launched a new capital protected investment plan called 1Malaysia Momentum (M3) Structured Deposit. It is a capital-protected investment plan for investors seeking potential gain regardless of the market conditions. The targets fund size is RM100mil. Closing date for the M3 is Dec 31, 2009, or earlier if fully subscribed.
The M3 is a five-year investment product issued by Maybank via floating rate negotiable instruments of deposit (FRNID) that comes with 100% capital protection if the FRNID is held to maturity or autocalled.
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Hong Leong Bank recently re-launched Essential Credit Card which they firstly introduced a few years back. However, Hong Leong Bank stopped issuing it until the recent re-launched.
Hong Leong Essential Credit Card combines the best features of every credit card so you can enjoy the best of both worlds-the benefits of having multiple cards and the convenience of carrying just one.
The main benefit of Essential Credit Card are 1% unlimited cash back, low fee of 2% on cash advance, higher credit limit and Free for life.
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Bank Islam Malaysia Bhd launched a new Islamic structured investment product called Ziyad NID-i. This is the second Islamic Structured Investment by Bank Islam Malaysia Berhad. Ziyad NID-i is a 5 year investment in the form of Islamic Negotiable Instruments (INI) based on the concept of Mudharabah Muqayyadah.
Ziyad NID-i is designed for investors who hold the view that Asia’s equity market will recover in the medium-to-long term.
Ziyad NID-i will be invested in a basket of six stocks that are expected to benefit from massive stimulus plans undertaken by various Asian governments. The stocks are China Mobile Ltd and CNOOC Ltd from China, Panasonic Corp, Canon Inc and KDDI Corp from Japan, and Australia’s BHP Billiton.
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In Malaysia, real property gains tax (RPGT) is imposed with the intention to curb property speculations. It is imposed on the gains on disposal of Malaysian landed properties and the rate varies from 5% to 30% depends on the holding period.
With effect from April 1, 2007, the Government decided to exempt RPGT in view of the economic slowdown and it was aimed at assisting property developers in disposing of their houses, and spearheading the economic progress.
Prime Minister Datuk Seri Najib Tun Razak, who is also Finance Minister, on Oct 23, however, reintroduced RPGT to put in place a fair administration of taxes.
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After more than 3 years of investigation, finally Security Commission (SC) manage to obtain RM31 million from Swisscash investment scam. The money will be used to restitute eligible investors who have suffered losses as a result of the scam.
The restitution will be based on a court sanctioned distribution plan. Once the court’s approval has been obtained, the SC will appoint an administrator to manage the processing of the claims. The first batch of restitution will be made early next year.
To be eligible for compensation, Swisscash investors must produce some documentary evidence of their investments. The documents are in the form of Telegraphic transfer, bank transfer or internet banking transfer slip make to the Swisscash.
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