ASB : It's 7.00 cents perunit plus 1.75 cents bonus

ASB ANNOUNCED 7.00 SEN PER UNIT OF INCOME DISTRIBUTION AND BONUS OF 1.75 SEN PER UNIT


KUALA LUMPUR – Amanah Saham Nasional Bhd (ASNB) , a wholly-owned subsidiary of Permodalan Nasional Berhad has announced an income distribution of 7.00 sen per unit and a bonus of 1.75 sen per unit for Skim Amanah Saham Bumiputera (ASB) for the financial year ended December 31 st, 2008 .

The income distribution portion will involve a total payout of RM4.22 billion, almost equal to the allocation made for ASB income distribution in 2007.

The bonus portion will involve a total payout of RM678.03 million by PNB .

PNB Chairman, Tun Dato’ Seri Ahmad Sarji said, the payment will benefit 6.56 million unit holders which currently hold 62 billion units of ASB.

Tun Ahmad Sarji said 2008 is a challenging year for the ASB fund manager as evidenced by the equity market which saw a drop of 40.85 percent in the benchmark KLSE CI during the year following the credit and financial crisis in the developed nations.

Notwithstanding the above scenario, the discipline and prudence practiced by the ASB fund manager has helped to produce an encouraging performance of the fund.

Up to December 10 th, 2008 , ASB has recorded a gross income of RM5.14 billion. Dividend income from investee companies contributed RM3.12 billion or 60.71 percent of the gross income, and profit from the sale of shares contributed RM1.58 billion or 30.75 percent. The rest of the income at 8.54 percent or RM439 million is derived from investments in short term instruments and other investments.

The calculation of the income distribution is based on the average monthly minimum balance held throughout the financial year of ASB ending December 31 st, 2008 . The calculation of the bonus on the other hand is based on the average monthly minimum balance held by the unit holders in the past ten years, starting from 1999 up to 2008.

The income distribution and bonus will be automatically credited into the respective unit holders’ accounts. Unit holders will be able to update their accounts beginning January 2 nd, 2009 .

All transactions for ASB at ASNB head office, ASNB branch offices and agents will be suspended on December 19 th, 2008 until January 1 st, 2009 , to facilitate the calculation of income distribution and bonus.

ASB is a fixed price equity income fund, opened for Bumiputera aged 12 years and above. This fund is aimed at generating long term, consistent and competitive returns to the unit holders whilst ensuring the preservation of capital at minimal risk tolerance level.

Source : www.asnb.com.my

Unit Trust Launch : Public Islamic Select Enterprises Fund (PISEF)

PISEF is suitable for investors who wish to participate in the long-term growth potential of Shariah-compliant bellweather companies in the domestic market. PISEF is an aggressive Islamic equity fund that seeks to achieve capital growth through investment in the largest 50 companies in term of market capitalisation (at the point of purchase) listed on Bursa Securities which comply with Shariah requirements.

Promotional service charge of 5% of Initial Offer Price per unit during offer period.

Minimum initial investment: MYR 1000.00
Min. additional investment: MYR 100.00
Offer Period: 14 August 2008 to 13 September 2008.
Offer unit NAV: MYR 0.25
Sales charge: Up to 5.5% of NAV
Investor Profile: Aggressive
Investment option: EPF Scheme or Direct Debit Instruction or Lump sump

Unit Trust Launch : PB Capital Protected Resources Fund (PBCPRF)

Extracted from Public Mutual website :

Public Bank will launch PB Capital Protected Resources Fund (PBCPRF) on 20 August 2008. The fund provides investors an opportunity to tap into the upside potential of the resources sector while providing 100% capital protection over a 3-year investment period. The fund will be managed by its wholly-owned subsidiary, Public Mutual.

Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said while PBCPRF is a capital protected fund, it provides investors an opportunity to participate in the growth potential of the resources sectors which include oil & gas, metals, agriculture, forestry and paper as well as hedge part of their investments against inflation. “Investing in the resources sectors provides a hedge against inflation, which is currently fuelled by high oil and food prices. Thus, the fund’s investments in the resources sectors will enable investors to hedge against rising inflationary pressures and maintain the purchasing power of their savings,” he explained.

PBCPRF seeks to achieve capital appreciation over the tenure of the fund while providing capital protection upon maturity of the fund. At least 85% of its net asset value (NAV) will be invested in Ringgit denominated zero-coupon negotiable instrument of deposits (ZNIDs) and liquid investments comprising high quality debentures and money market instruments. The balance of its NAV will be invested in equities and equity related securities in resources sectors which are listed in selected regional markets which include South Korea, China, Taiwan, Hong Kong, Australia, New Zealand, Malaysia, Philippines, Indonesia, Singapore, Thailand and other markets.

The Initial Issue Price of PBCPRF is at RM0.9901 per unit during the 45-day initial offer period of 20 August 2008 to 3 October 2008. The service charge is at RM0.0099 per unit, which is 1% of the NAV of the fund during offer period. “As PBCPRF is a close-end fund, the units will only be sold during Offer Period. The minimum investment for the fund is RM1,000,” said Tan Sri Teh.

Public Mutual’s Chairman Tan Sri Teh added that PBCPRF’s capital is protected with a Capital Protected Value of RM1 per unit at the Maturity Date. The Maturity Date is on 13 October 2011 or earlier if the fund is fully sold before 3 October 2008.

PBCPRF is suitable for risk adverse investors. Interested investors can visit any Public Bank branch nationwide or call free-phone at 1-800-88-3323 during normal working hours to find out more about PBCPRF.

Unit Trust Launch: OSK-UOB

The OSK-UOB Global Capital Fund (GLOCAP) is a feeder fund that will invest principally in one of the funds managed by UOB Asset Management Limited (UOBAM), Singapore that is the United Global Capital Fund (UGCF). UGCF launched in June 1996 is a collective investment scheme domiciled in Singapore which invests in securities issued by banks, finance companies, insurers and other corporations which carry on the business of financial services or which derive their revenues from subsidiaries carrying on the business of banking and/or financial services.

GLOCAP is suitable for investors who seek investment opportunities in the global financial services sector; wish to invest in an established foreign fund managed by a renowned fund manager; and are willing to accept a higher risk in their investments to obtain potentially higher returns in the long term (at least 5-7 years).

Minimum initial investment: MYR 1000.00
Min. additional investment: MYR 100.00
Offer Period: 11 June 2008 to 1 July 2008.
Offer unit NAV: MYR 0.25
Sales charge: Up to 5.5% of NAV
Type: Growth fund
Investment option: Lump sump or saving

Islamic Unit Trust Launch: PBSN

Permodalan BSN Launches Islamic Unit Trust Fund
PBSN has just recently launched their new islamic unit trust - Dana Al-Jadid. The fund is suitable for investors who have moderate to high risk tolerance. It is also meant for investors who prefer higher capital growth investments under syariah principles and have medium- to long-term investment horizons.

PBSN has appointed Prudential Fund Management Bhd as the external investment manager.

Minimum initial investment: MYR 500.00
Min. additional investment: MYR 100.00
Offer Period: 21 days since 18th June 2008
Offer unit NAV: MYR 0.25
Sales charge: Up to 3% of NAV
Type: Islamic balance fund

Source: Bernama; 18th June 2008

News Flash : Public Mutual declares distributions for 8 funds

Public Mutual declares the final distributions for eight of its funds.

Six of these funds have declared interim gross distributions in December 2007 ranging from 3.50 sen to 10 sen per unit. Among the eight funds declaring final dividends, Public Ittikal Fund and Public Balanced Fund declared a final gross distribution of 5 sen each, which in addition to the 10 sen already paid in December 2007, amounts to a total gross distribution of 15 sen respectively for the year ended 31 May 2008.

Public Islamic Equity Fund, Public Far-East Select Fund, Public Regional Sector Fund and Public Dividend Select Fund declared final gross distributions of 1.50 sen each, which in addition to the interim gross distributions of 5 sen, 4 sen, 3.50 sen and 3.75 sen respectively, amounts to total gross distributions of 6.50 sen, 5.50 sen, 5.00 sen and 5.25 sen respectively for the year ended 31 May 2008.

Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said that among the regional funds, Public Far-East Select Fund, Public Regional Sector Fund and PB ASEAN Dividend Fund have generated a one-year return of 18.92%, 15.20% and 15.34% respectively for the period ended 16 May 2008. These funds have outperformed their respective benchmarks which registered gains of 6.04%, 9.57% and 3.50% respectively for the same period.

Source:- www.publicmutual.com.my

Petrol is now RM 2.70 per litre

5th of June 2008... The dawn of new consumer price hike..
Just read through the stuff; extracted from Star online (www.thestar.com.my) :-

Thursday June 5, 2008
Petrol price up by 78 sen - and will be reviewed monthly


PUTRAJAYA: The Government announced yesterday an increase in petrol and diesel prices, stating that it can no longer continue to subsidise fuel.

Prime Minister Datuk Seri Abdullah Ahmad Badawi said the new prices were still at a 30-sen per litre discount from market prices.

In other words, if the market price is RM3 per litre, Malaysians will be charged RM2.70 at the pump. He said the price would be adjusted monthly based on the global oil price.


Half empty or half full?: Azhan Sharom showing the difference of how much petrol one can buy with RM1 Wednesday and today at a petrol station in Kuala Terengganu.

“Malaysians still pay lower than the market prices as far as petrol is concerned,” he told a packed press conference when announcing the restructuring of the subsidy package.

Abdullah said that although the restructuring would result in consumers having to pay more, prices were still lower compared with Singapore and Thailand.

He said the Government would save RM13.7bil through the restructuring.

From the savings, he said RM4bil would go to the National Food Supply Guarantee Policy, RM1.5bil for subsidising cooking oil and RM400mil to subsidise rice imports to make the price uniform in peninsular Malaysia, Sabah and Sarawak.

The Government would also spend RM200mil on flour subsidy, RM100mil on bread subsidy and RM7.5bil was meant for contributions to the subsidies for petrol, diesel and gas.

On top of that, Abdullah said, the Government would have to fork out RM5bil to pay to owners of cars and motorcycles eligible for rebates introduced under the restructuring of subsidy package.

“Our effort is certainly not an attempt to be popular but we try our best to help the people. We cannot satisfy everyone,” he said.

Abdullah said demand for public transport would go up with the rise in fuel prices and the Government was currently addressing the need to improve services.

He reiterated that the public should make changes to their lifestyle, saying they must ensure there was no wastage in resources such as water, energy and food.

He said if certain adjustments were made, the public would not be “too badly affected by price increases”.

He said the hike in fuel prices would cause a projected increase in inflation of around 4% to 5%. It would also have an impact on the country’s gross domestic product (GDP) growth but was confident that it could be maintained at 5% this year.

Abdullah said the Cabinet committee on anti-inflation had to come up with a system to ease the public’s burden from higher fuel prices.

“What is important is that we want to ensure the restructuring will encompass a mechanism that will protect and benefit those in the lower and middle income group.

“We are truly committed in ensuring these groups will not be burdened by the increase in petrol and food prices,” he said.

Asked if the subsidy restructuring would result in Malaysians going to the streets to demonstrate their unhappiness, Abdullah was confident the people would not resort to that.

---- The Changes ----
1. Price increase

Petrol – RM0.78/litre
Diesel – RM1/litre
Electricity:
Commercial and industrial – 26%
Retailers and small restaurant operators – 18% (for first 200kWh per month)
Residential – new pricing structure for users above 200kWh per month

Prices effective today (per litre)

Petrol – RM2.70 (previously RM1.92)
Diesel – RM2.58 (previously RM1.58)

2. Rebates

> 2.a RM625 per year
For private vehicle with engine capacity of 2000cc and below, including private pickup trucks and jeeps with engine capacity of 2500cc and below.

> 2.b RM150 per year
For each private motorcycle with engine capacity of 250cc and below

> 2.c RM200 reduction on road tax
For private petrol and diesel vehicles with engine capacity above 2000cc

> 2.d RM50 reduction on road tax
For private motorcycles with engine capacity above 250cc

3. Streamlined diesel subsidy
(for approved transportation companies, vessel owners and fishermen)

3.a Diesel – RM1.43 per litre (previously RM1 per litre for fishermen and RM1.20 per litre for vessel owners)

3.b RM200 per month for every owner and employee of Malaysian-owned vessels registered with the Fisheries Department

3.c 10sen per kilo incentive for every kilogram of fish caught by registered vessels

3.d 10sen per litre for every litre of diesel used by river transportation operators according to approved quota

4. Gas subsidies restructure
(for Peninsular Malaysia)

4.a For power producers – from RM6.40 per mmBtu to RM14.31 per mmBtu

4.b For industrial users (consuming less than 2mmscfd) – from RM9.40 per mmBtu to RM24.54 per mmBtu

4.c For industrial users (consuming above 2mmscfd) – from RM11.32 per mmBtu to RM32.56 per mmBtu

5. Electricity tariff restructure

5.a Households using 200kWh and below every month will not be affected. This covers 59% of households in Peninsular Malaysia with a monthly bill under RM43.60.

5.b Commercial and industrial users face 26% increase. Small retail and business outlets consuming under 200kWh per month face 18% increase.

5.c Liquefied Petroleum Gas (LPG) and
Natural Gas for Vehicle (NGV) - No change. Prices remain at RM1.75 per kg (LPG) and RM0.635 per litre (NGV)

5.d Oil palm windfall tax

- For Peninsular Malaysia 15% for every tonne of CPO exceeding RM2,000

- Sabah and Sarawak 7.5% for every tonne of CPO exceeding RM2,000 > Abolition of cess tax

- Service tax threshold for restaurants and eateries . Service tax now for restaurants with annual sales of RM3mil (previously RM500,000)

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