Day +1028 : Labourious in vain(一场忙碌一场空)

I am fine today.

I was determined to invest in Amanah Saham Wawasan (ASW) but coincidently, I had to do my post-transplant follow-up yesterday. In order to be an early bird, I went to UH to draw blood as early as 6:00am. I got a very good queue number and I managed to reach Puchong at 8:30am after drawing blood.

I saw many people queuing up at Maybank and CIMB to purchase ASW. I went to RHB bank in IOI mall and found out that they were about 20 people queuing there; relatively less people compared to Maybank where the queue had already extended to Public bank at 8:30am.

However, I still felt that the queue was too long at RHB in IOI mall. I went to RHB branch at TESCO about 8:45am and I was number 3 in the queue :-) While Maybank opened at 9:15am, this branch would only open at 10:00am but I was quite confident that I would be able to purchase the fund successfully.

However, we were told that the system hanged when the bank opened. The queue was getting longer – at least 60 people at 10:00am. No transaction could be done and people were just waiting there. I waited for about 45 minutes and left as I need to attend an interview session in the company.

I still hope that I could purchase the fund when I came back from UH in the afternoon, but Richard informed me the non- bumiputera allocation was sold out at 12:05pm :-(

For the sack of investing in ASW, I uplifted my FD prematurely, opened a saving account in RHB and transferred money over there, running here and there, waiting patiently for my turn, just hoping of getting a better return, but despite all these efforts, failed to deposit a single cent into ASW :-(

In fact, I planned to open 5 accounts yesterday – one for myself and one for each of my children. The outcome was zero account.

So this is really labourious in vain(一场忙碌一场空). I believe many people experienced the same :-) At least we try!

See you next post :-)

Day +1022 : Sold out incredibly fast

I am fine today.

I uplifted some fixed deposits this afternoon and intended to invest some more into ASM under my wife’s account. But we were told that the allocation for non-bumiputra was sold out by Maybank staff. This indicates that people still have a lot of money in hand :-)

Based on Fortune Sense estimation, it would take 6.5 days to finish the allocation but it finishes in less than two days only. My third sister even told me that it might take a few weeks to finish the allocation. With this, I was so confident I would be able to deposit some more into this fund, and uplift the fixed deposits without checking with Maybank first.

I only found out today that there is quota on the ASM allocation.

Quote from nstonline:

Half of the ASM units will be for Bumiputeras, 30 per cent for Chinese, 15 per cent for Indians and five per cent for the people of other races. ASM units reserved for any race that remain unsold after July 20 will be open for sale to others.

So Fortune Sense estimation may be applicable to Bumiputeras only.

Since I had uplifted the fixed deposit already, I will try to invest in Amanah Saham Wawasan which is due to open next Monday.

See you next post :-)

Day +1021 : Purchasing Amanah Saham Malaysia (ASM) unit trust fund

I am fine today.

My third sister called yesterday advising me to invest on ASM which will be offering from today onward 3.33 billion units with RM1 per unit. Each investor is entitled to buy a maximum of 20,000 units.

The fund gives a return rate range from the lowest 6.25% (year 2009) to the maximum 7.80% (year 2001 and year 2008).

Comparing to fixed deposit, the return is still very good :-)

If people got a lot of money, the offering will be sold out very fast. So there is no guarantee that one could purchase the units successfully.

This is the first time ever I purchase this fund. As such, I need to open an account. Richard told me that in fact I could open an ASM account at post office first and then deposit the money into the account through Maybank where my money is. Maybank is very slow in opening the account but relatively fast in handling the purchase of additional units for those who with account.

After fetching Adriel to the kindergarten, I stopped by at the post office in Tesco Puchong at 8:30am on the way back, but there was no one there. I saw a notice saying that ASM transaction will only start 9:30am onwards. After seeing this notice, I decided to open the account at Maybank as it started to carry out ASM transaction at an earlier time, which is 9:15am.

When I reached Maybank, there were about 20 people queuing there. There were two counters handling ASM transaction only, one for those who needs to open account and the other one for those who already has an ASM account.

I was given a queue number of 5014 which meant that there were 14 people without ASM account in front of me.

Worrying that I might need to wait for too long before my turn, I went to the post office at Tesco Puchong again. The post office staff told me that they won’t be able to check the availability of allocation online; as such there was no guarantee that the units that I would like to purchase would be processed successfully. It looked like they had to have offline transaction :-(

I went upstairs to see if RHB branch in Tesco handle ASM transaction, and gladly found out that it did. The branch opened at 10:00am and I was the first one in the queue. So this is a good place to handle ASM transaction :-) I opened the account with RM100 initial deposit and then rushed back to Maybank.

I got a queue number of 3077 and the ASM counter was serving 3029. This means that I need to wait for at least one and half hour before my turn.

It was very fortunate that I met my neighbor who had an excess queue number, 3033 :-) With this queue number, I managed to purchase additional units in about 20 minutes.

Another trust fund, Amanah Saham Wawasan (ASW), which yields a higher return rate, will be offering 2 billion units next Monday. I plan to invest into this fund too :-)

According to Fortune Sense, the ASW offering will be fully subscribed in 1 day while ASM will only be sold out in 6.5 days. So if you would like to invest in ASM, there is still plenty of time for you to do that.

Quote from Fortune Sense:

Just for calculation purpose, the RM 2.5 billion Sukuk Simpanan rakyat with the maximum allowed per investor is 50, 000 units sold out in 2 days. The Amanah Saham Malaysia (ASM) with 3.33 billion units is estimated to be fully subscribed in 6.5 days.For the Amanah Saham Wawasan 2020 (ASW 2020) non bumiputra portion, 0.98 billion (49%) should be fully subscribed in 1 day. Anyway this is just an estimation by mathematics calculation, it is still depends on the response of the people after RM 2.5 Billion Sukuk Simpanan Rakyat.

See you next post :-)