Amanah Saham Wawasan 2020
Yesterday saw the launch of the additional 2 billion Amanah Saham Wawasan 2020 for those aged 6 months and above. Of these, 51% were allotted to bumiputras.
In the news today, it was reported that all 49% allotted to non-bumiputras were snapped up within 4 hours. Some people even came to queue as early as 4am to ensure that they grab a piece of this investment, capped at 20,000 units per account holder.
This was also the case as seen when the Amanah Saham Malaysia (ASM) was launched last week, all the 999 million new ASM allotted to the Chinese were sold out within 24 hours of launch. However, those allotted to the Indian and bumiputra community are still on sale as of today according to The News Straits Times.
Now, don’t get me wrong, but the one question one would ask is why are these units still withheld? Why not just release to the public so that the intention of these funds – which is to raise capital and to provide a safe avenue for investment – is completed?
And I am also thinking, why is the sale of these funds not on a first-come-first serve basis? Why waste everybody’s time queueing up in the hot sun and then to be told that those allotted to you is sold out … but there are actually other allotment which is not fully subscribed yet?
This post has 3 comments
April 29th, 2009
Exactly my thoughts too. Let’s just wait and see if these unsold units will eventually be opened to people who are truly interested or they’ll just leave them unsubscribed. But I’m thinking if they are left unsold, someone or some company out there who qualify within that criteria will snap it all up before it can even be opened to others!
April 29th, 2009
Or it could be quietly sold …. shhh …
May 2nd, 2009
Amanah Saham Awas 2020…
Speaks for itself…
I definintely won’t put my money in this
Have you ever seen a major successful fund management company with such delapidated office? Having thousands of people to run a small portfolio of properties under their fund?