AS1M allocation to ethnic groups extended to Dec 31

 What happen?? So far only RM2.5b of the RM10b subscribed after much hyped about the fund at the beginning. LOL

KUALA LUMPUR: Permodalan Nasional Bhd (PNB) has extended the Amanah Saham 1Malaysia (AS1M) subscription allocation to ethnic groups to Dec 31, 2009.

PNB president and group chief executive Tan Sri Hamad Kama Piah Che Othman said the decision to extend the allocation ratio was to provide extra time for people from all ethnic groups to invest in the fund.

The investors of AS1M came from various economic backgrounds including medium and low-income earners, he said in a statement on Oct 1.

“I hope everyone would take this opportunity to participate in this AS1M fund by opening a new investment or making an additional investment,” he added.

AS1M, a fixed price fund with a size of 10 billion units, was launched on July 31, 2009 by Prime Minister Datuk Seri Najib Tun Razak.

It is open to all Malaysians with an allocation of 50% for bumiputeras, 30% for Chinese, 15% for Indians and 5% for other ethnic groups.

As of Sept 27, more than 2.5 billion units had been subscribed by 165,661 investors.

Hamad Kama Piah also said Amanah Saham Nasional Bhd (ASNB) would be conducting investment seminars, focusing on AS1M in selected locations nationwide beginning this month. — Bernama