SEDIC - Permodalan Nasional Berhad (PNB) Amanah Saham 1Malaysia Scheme for Indian Community
SEDIC - PNB Amanah Saham 1Malaysia Scheme Press Conference by Datuk Seri Dr. S. Subramaniam
Following the 2018 budget announcement by YAB Prime Minister Dato’ Sri Najib Abdul Razak, an additional 1.5 billion units will be allotted under the Amanah Saham 1Malaysia Scheme (AS1M) by Permodalan Nasional Berhad (PNB) to enable Malaysian Indians to invest in this unit trust fund, limited to 30,000 units per investor (inclusive of units purchased prior to this).
This scheme will be made available to the public on the 29th January 2018 at 8am. There are 2 options available to invest in this scheme, either by visiting the nearest PNB branches/ agents which include Maybank, CIMB, RHB, POS Malaysia, Affin Bank, Alliance Bank and Am Bank or performing an online transaction at www.asnb.com.my. For more information on the availability of branches nationwide, please visit www.asnb.com.my or www.sedic.my.
The AS1M scheme was launched by PNB in 2009, originally with 1.5 billion units allotted for the Indian community. With the 2018 budget announcement, an additional 1.5 billion units will be earmarked for the Indian community which would further encourage equity investments among the Indians.
Moreover, to ensure equitable representation in this investment scheme, especially for the benefit of B40 families, the Government has also allocated a special funding of RM500 million as an interest-free loan scheme over a period of 5 years. An interest free loan of RM5,000 for the purpose of investing in AS1M will be provided to qualified B40 families and this investment scheme would eventually supplement the savings of 100,000 participants from the B40 households, particularly those below the poverty line. This special interest free loan scheme will be launched by YAB Prime Minister in February 2018. As with any new scheme, there would be systems and processes in place for a smooth implementation process, which would be explained at a later date.
This SEDIC-PNB investment scheme is crucially aimed at achieving the target earmarked in the Malaysian Indian Blueprint (MIB), which is to ensure at least 50% of registered poor households can demonstrate increased savings within 10 years of MIB implementation. Beyond meeting the minimum basic needs, it is also important to assist those with income-earning capacity to lift themselves out of poverty in a sustainable way. Budget 2018 demonstrates the government’s commitment to resolve issues pertaining to the Indian community on a long-term basis.
SEDIC will be providing timely updates on AS1M and its application procedures. Do keep yourself updated by visiting our website at www.sedic.my or follow our Facebook page @mysedic.
PROF. DATUK DR. NS. RAJENDRAN
Unit for Socioeconomic Development of Indian Community (SEDIC)
Prime Minister’s Department