ASNB Offers 1 Billion Additional Units Of Amanah Saham Wawasan 2020

KUALA LUMPUR, Nov 26 (Bernama) -- Amanah Saham Nasional Bhd, a wholly owned subsidiary of Permodalan Nasional Bhd (PNB), is offering one billion additional new units of Amanah Saham Wawasan 2020 (ASW 2020) to be opened for subscription beginning Wednesday.

PNB president and chief executive Tan Sri Hamad Kama Piah Che Othman said to ensure a fair distribution to the investing public, a maximum investment limit of 10,000 units has been set per account holder during the offer period from Nov 27 to Dec 3.

"The maximum investment will be void after the offer period," he said in a press conference at PNB headquarters recently.

Hamad said transactions of the new ASW 2020 units will begin at 8.00 am at all ten ASNB full operation offices nationwide.

He said unit holders could also subscribe to the new ASW 2020 units at the 1,627 ASNB agents' branches nationwide subject to their operating hours.

With these additional units, the fund size of ASW 2020 will increase to 10.42 billion units compared to 9.42 billion units currently.

ASW 2020 was launched on Aug 28, 1996, with an initial fund size of three billion units.

ASW 2020 is a fixed priced unit trust fund open to all Malaysians aged six months and above subject to a quota of 51 percent for Bumiputera and 49 percent for non-Bumiputera.

"Investors can also invest in the ASW 2020 using the Employees Provident Fund Member's Scheme," Hamad said.

Since its launch, the average income distribution for the ASW 2020 fund has been 7.74 sen per unit, he added.