Investors in rush to snap up ASM shares

PETALING JAYA: The public made a beeline to Amanah Saham Nasional Bhd (ASNB) branches and agents nationwide to buy share units as an insurance against the effects of the economic slowdown.

Many bought the Amanah Saham Malaysia (ASM) units, which were made available to the public yesterday, because they were attracted to the minimum 5% return on investment.

Architectural designer Benjamin Thomas, accompanied his sister, Melissa, to the Maybank branch in SS2 for the purchase.

The long queue had Melissa in two minds but Benjamin persuaded her to be patient because the purchase was worth it.

The 53-year-old, a regular investor said: “Throughout the years, I have invested 150,000 units and the returns have allowed me a bit of luxury, such as taking my family for budget holidays to Singapore,” he said.

Another regular investor, a retiree known as Madam Ng, said she decided to top up her investment because the extra money from the returns would come in handy.

Ng, 60, added that the shares were also more profitable than investing in fixed deposit which offers an interest rate of 2.5%.

Her only grouse was the long wait.

“I hope more banks will be agents so the public don’t have to queue for so long. It’s very tiring,” said the former English teacher.

Currently, ASM can be bought from ASNB offices nationwide, as well as through its agents, Malayan Banking Bhd (Maybank); CIMB Bank Bhd, RHB Bank Bhd and Pos Malaysia.

First-time buyer Irene Chong, 40, said the investment returns would help increase her children’s education funds.

The housewife also persuade her 14-year-old son to invest as well.

Chong suggested ASNB agents, which currently accept only cash, to allow the public make purchases with bank drafts as carrying large sums of money could be dangerous.

New father Adrian Chong, 32, hoped that returns from the shares would help him to financially support the latest addition to his family, a son.

“With the current challenging times, saving is more important than spending,” said the lecturer.

Student Mohd Azam Abdullah, 24, who was also buying share units for the first time, said his parents had advised him to do so.

A total of 3.33 billion ASM units were put up for sale yesterday, and will on sale until July 20, subject to availability.

Another 2 billion units of Amanah Saham Wawasan 2020 will be offered starting April 27 to May 6.