KUALA LUMPUR: The Permodalan Nasional Berhad (PNB) Amanah Saham 1Malaysia investment scheme to benefit the Indian community, especially those in the B40 category will be introduced in the 1st quarter 2018.
Director-General of the Socioeconomic Development of Indian Community Unit (SEDIC), Prof. Datuk Dr NS. Rajendran said as with any new scheme, SEDIC together with PNB are in the midst of setting up the software and hardware required for a smooth implementation process.
“All applications would be accepted through online channels and also satellite offices, which would be set up in various states,” he said in a statement, today.
He added that SEDIC will be providing timely updates with regards to AS1M launch and its application procedures.
Prime Minister Datuk Seri Najib Razak in the 2018 budget announced a new investment initiative to benefit the Malaysian Indian Community.
An extra 1.5 billion units will be allotted under the Amanah Saham 1Malaysia Scheme (AS1M) by PNB to enable Malaysian Indians to top up their investment in this unit trust fund, up to 30,000 units per investor.
To ensure equitable representation in this investment scheme, especially for the benefit of B40 families, the Government would allocate a special funding of RM500 million as a special interest-free loan scheme over a period of 5 years to encourage and enable participation of this B40 group.
An interest free loan of RM5,000 for the purpose of investing in Amanah Saham 1Malaysia will be provided to qualified B40 families.
The SEDIC-PNB investment scheme is aimed at achieving the target earmarked in the Malaysian Indian Blueprint (MIB), which is to ensure at least 50 per cent of registered poor households can demonstrate increased savings within 10 years of MIB implementation.