Our first attempt to buy into Amanah Saham Malaysia (ASM) was at the Malayan Banking Berhad. Only 6 persons out of the multitude that waited outside the office since 6 o' clock in the morning got their shares.
So we switched tactic. They said it was better to buy at the Post Office and so we did that as well. As usual, when it reached about #20, it was sold out.
This time around, on the advice of my elder sister, We went early by LRT to the PNB office in KL at 7 am. The line had stretched into a Z shape and had overflown onto the road. In spite of being early we got NO. 4318. Seems those who camped there since 3 am got numbers below 4070. All the rest got numbers from 4100-4400-very big numbers.
We waited with baited breath as our number came loser. We feared the worse-that just before our number, it will be sold out. By the grace of God, we got our ASM shares.
ASM paid 6.8% dividend for 2006, 7.8% for 2007 and 6.25% for 2008. Since the local Bursa is healthy these days and 80% of ASM investments are in fixed income instruments, it is likely they can up the dividend again come January 2010.
Believe me, this is one equity instrument that actually works for most Malaysians.
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