This RM 3.4 billion Amanah Saham 1 Malaysia in theory was open to all Malaysians with 244,117 investing since last year, 50% of these shares have been allocated to the Malay muslims. 89% of the 30% Chinese quota had been taken up (BH 25/2/2010 at page 4). The Malay muslims have the options to exclusively purchase ASN, ASB, ASM and ASD 2020.

But as for the 15% of the quota for the Indians it is not stated by PNBs’ Chief Executive Officer Tan Sri Hamed Kama Piah Che Othman as to how many percent was take up by the Indians. We estimate only a mere 1% of the Indians bought up this shares as they cannot afford or have the means to do so.

And neither did UMNO secure loans for Indians from Maybank or CIMB with 4% interest  to purchase these Amanah Saham, and obtain at least 7% to 12% dividends from the saham, as done for the malay muslims.

P. Uthayakumar

The UMNO government made a grand announcement of RM 1.5 Million quota for the Indians in the 1 Malaysia unit trust fund. But the poor and hardcore poor Indians and even the middle upper middle and upper class of Indians cannot afford to buy these 1 Malaysia Unit Trust simply because they do not have the money arising of UMNO excluding the Indians from the National mainstream development of Malaysia.

Even for the poor Malays, UMNO secures loans for them from Maybank, CIMB etc at about 4% interest when the dividends alone are 7% to up to 12% an ASN and ASB Unit Trust. So 100% of the ASN, ASB shares have been taken up by the malay muslims.

But this bank loan facility has been denied to the Indians.

One Malay-sia?

ASB : RM 4.95 Billion plus RM 537.65 Million  bonus payout to 6.78 million (malay muslims), says the Chairman of Permodalan Nasional Bhd (PNB) Tun Ahmad Sarji. But why is this part of the country’s wealth not shared with the poor and working class Indians. Why are the Indians yet again being excluded from the national mainstream development of Malaysia.

The UMNO Amanah Saham 1 Malaysia ASB, PNB or any other such shares gives out lucrative dividends and bonuses of 7.3% and upwards even up to 12%.

IF only UMNO and PNB arranges for Maybank, CIMB etc loans  for these poor and working class Indians as they have done for the malay muslims, these Indians would have also benefited at least from the 7.3% minus 4% bank interest ie 3.3% net profit per annum returns. Just by lending and or giving their names and their Identity Cards and without taking out a single cent to Maybank, CIMB etc these poor and  working class Indians would be guaranteed a minimum of a couple of thousand ringgit of this PNB bonuses and dividends every year. It is in effect free money by the UMNO government but the poor Indians are excluded.

This UMNO government’s scheme of redistributing the wealth of the country to the poor must also reach out to the poor and working class Indians as it reaches out the Malay muslims.

P. Uthayakumar.  

HRP Secretary General