Yes, this morning we went out to PNB to line up to subscribe for the Amanah Saham 1Malaysia Unit Trust (AS1M). To our surprise, the waiting crowd was smaller. Heard that at 1am, there were only three eager beavers this time, camping out compared to the other time.Apparently, the crowd started coming in about 5am. This time the staff of PNB were more orderly. They got us to have lining-up numbers and to get us to thumb-print and sign the forms. Once, we got into the main office, we took our counter numbers in orderly fashion. They started sales at 8.00 and we got our units by 9.30 am.For those who want to buy using bank drafts,the PNB's advice is to write your own name or Amanah Saham Malaysia Berhad as payor on the draft. Once, you are deemed successful in acquiring the units, you can only collect your passbook 3 days after that. Heard there are a lot of confusion this time around. They are many interpretations of what this fund is. Some said that it is a trade-able fund and come go up and down the par value of RM1.00 per unit. Others say that PNB will buy from you still at RM1.00 if you should redeem it. Yet others say that you can only start selling the units after a month.I guess the Malay quota of 5 billion units may unlikely be subscribed with all these varied interpretations going around. Soon, this portion will be re-open for general subscription again and big corporations will just gobble all the balance up!
Let us see what happens in the next few days.
