First, the 1Amanah Saham Malaysia went abegging. Now, 1Malaysia Sukuk suffers the same fate.
I wonder how will PM Najib react to this?
Let us read this release from the Ministry of Finance.
" Take up of the 1Malaysia sukuk issued by the Ministry of Finance fell short as only RM2.4 billion out of the RM3 billion sukuk was subscribed as of June 21.
Last year’s Sukuk Simpanan Rakyat, also issued by the Ministry of Finance, was fully subscribed after nine days of sale and the initial amount of RM2.5 billion was upsized to RM5 billion by using the allocation of the second series.
Both sukuks offered a five per cent return per annum for three years to investors.
The Ministry of Finance said today that Sukuk 1Malaysia 2010 amounting to RM2.4 billion was allocated to 74,781 investors who will be notified by their agent banks.
It added that beginning 22 June, investors can sell and purchase the sukuk at agent banks.
The purchase of the sukuk is based on a first-come first-served basis, with no maximum limit, subject to the availability of the sukuk sold by existing sukukholders. The minimum sale or purchase is RM100 and transactions are in multiples of RM100. An administrative cost of 0.1 per cent of the nominal purchase value is payable to the agent banks.
The selling and buying prices are calculated based on principal at par plus accrued profit.
Information on the availability of Sukuk 1Malaysia 2010 and daily prices can be obtained from www.bondinfo.bnm.gov.my or checking with agent banks.
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