Over these past few weeks, senior people like me, ahem, are talking about Sukuk and all those so-called investments thingie. People at my age and those who are older than me usually would have some savings for the kids’ education and our old age. So, those of you who are younger, you may not be interested in this issue but read on….’cos you may learn ‘how not to get fark without realising’.
Our EPF returns used to be 8% per annum, once a upon a time. Then, shit hits the fan and it tumbled down and spiralling underground. So, we can no longer rely on our EPF to save us from going to sleep on the streets when we are old. We have to have some investments.
Buying landed properties in Penang is almost impossible for us (who don’t deal with drugs, gamble with horses, who are pimps or cronies) now because a decent landed home, semi-D only is above RM500K. Buying unit trusts, investing in gold, foreign currencies have their risks as well. So, whether we like it or not, we ended up holding the our piggy bank money in fixed deposit accounts.
But as you know….the interest rates went dipping so low, we may as well use the money as our pillows and maybe mattresses (if we exchange RM1 notes and stack it nicely).
Then along come the 1Malaysian dream…..Hari hari you see the paper telling us our PM is putting forward an investor friendly government. And I say….yeah right……if that is call investor friendly, then, your favourite 5xmom is as noble as Mother Teresa.
In The Star, our dear, beloved, honourable Prime Minister and his beautiful wife were standing there with a bunch of mak ciks who look so happy with this so-called investing. Invest my kar’ch’ng lah! That is what you know? That is forcing us poor rakyats to have no other choice than to put our money into this giant pig bank and then, let THEIR 1Malaysia dream takes off. While we get farked with measly 5% returns.
You may say I am ungrateful but hor, you try to calculate, how much more can we earn with this 5%? And you go calculate how many billions of rakyat money are now in the hands of errrmm…I am not saying.
Therefore, don’t fool us with the rosy picture of people investing. We are merely grasping to the best returns, no matter how bad it is, because we have no other avenues.
(P/S : Don’t any unit trusts, bonds, personal financial investment folks try to sell me anything ‘cos my husband is a finance man, ok? Please take your briefcase and go play far-far.)
People, please hand me some extra strong clorox to wash my mouth because it tastes rotten to describe something above.
Its like using the Rakyat’s monies to roll. Take here, spend, take again, spend. Every 6 months open one fund/amanah/sukuk. Thats what I think lah. I could be wrong. 🙂
Terence – Yayaya, we could be wrong. 😛
Terence – you are right. They are going to suck away another few billions under ASM & ASW.
1Malaysia Ponzi scheme?? 😛
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and I wonder what are the returns of those? 12%? And don’t forget that the poor folks will never ever get any benefits from it cos they don’t have the money to invest.. (referring to Domino)
Angie – This way we will all die die together-gather mah, more fun wor.
See the way how the spend, I’m wondering how they can even promise 5% return.
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As if 5% is a big bullock cart wheel… cheh…
Politikus with pathetic thinking… like the rakyat think like ppl from time before the 80s
Even a 10% discount at retail store is not a saving unless you are buying 10 pcs of toothpaste
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but what can do? if don’t invest in this, then what to do with the money huh? don’t want to make high risk investments now, so this is the best bet there is.
don’t care what they do with my money lah, as long as just give me the shitty 5% as promised.
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calvaryzone – Doh…that’s exactly what I said in my post lah. Next time, read properly before commenting, can?
Agnes – That chimp bank you also know whose one lah.
Bryan – No need to say one…sekali chap-lap, hampalang khong kah khiau
oo.. that’s your? betul juga. my colleague today ‘put in’ a.k.a invested one big stack of money in that ASW hoping to get good dividen by end of the year. by the way, is it fixed interest? otherwise, at the end of the month the rate come out different or lower?
Am one of the ‘lemmings’ who rush like mad during lunch hour to apply for the ASM today. How much is the dividend anyhow? LOL, don’t even know, but buta-buta chuck in some $$. Tried for the sukuk on the 3rd day last week…then only found out sold out on 2nd day! Darn! Hate the damn government but still kwai-kwai handover $$ just for the measly 5% interest!
Jen – Gua tak tak tau lah. But my sis told me the crowd queued from 7.30 am when the bank only opens at 9.30 am wor. The Sukuk ok lah cos max 50K. The rest all 10K, 20K, at the end of the term, not much also lah. I heard the Sukuk only for three years or something. And I think cannot withdraw for certain period. Gee, I really don’t pay attention to these things one. My job is to spend money, not make money. LOL.
Wei Nee – I heard it is a mad, mad rush and lots of people fighting to get a place. So mah fan, I stay home better ler.
If Penang state create Bus Cooperative to fix Penang traffic problem, in long term, the membership dividends will be much better than all federal government run funds.
But too bad, KTK sold Penang rights of the public transport to the federal, now LGE difficult to find way to get it back for Penang people. And in Klang valley, people also face the same problem. Sigh!
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For long term investment can try foreign stocks. Now very cheap only. Buy some and keep. 10 years down the road your 10K can become 100K or even 300K. ASW and ASM a bit risky now as the dividen is not fixed. And the unit price can also fluctuate. I think they have launched another RM2.5Bfor Sukuk after the first batch was fully taken.
absolutely!! this is why whenever ppl asked me if they should put their money in these govt bonds, i said no… it’s better to go buy public bank shares, much better return.
and if they have faith… buy citibank shares in US, it will guarantee huge return when u retire.
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