Deputy Minister in a Prime Minister's Department SK Devamany has hit out at banks which have put putting obstacles in a approach of Indian Malaysians who want to buy in to a ASM as well as AS1M section certitude schemes.
He pronounced a banks have told these business which they had run out of units whenever inquiries have been made.
"This is since they fear losing bound deposits (placed by customers). we have told off a bank managers, asking them why this is so, as well as informed Permodalan Nasional Bhd (PNB)," Devamany pronounced during Question Time in a Dewan Rakyat today.
He pronounced a Indian Malaysians influenced had longed for to withdraw their bound deposits to buy a special allotment for Indians in a section certitude schemes.
Devamany lamented which Indians have been at a losing end, as bound deposit accounts usually compensate about 2.5 percent interest, whilst some section certitude schemes might bring in about 6.5 percent in dividend.
Met later, he reiterated which a PNB contingency monitor a situation to prevent this from happening as banks fool around an important purpose in ensuring which allocations for a Indian village have been successfully distributed.
Currently, RM420 million value of a special allotment is still watchful to be picked up, out of a total units valued at RM445 million in ASM as well as units valued at RM1.5 billion in AS1M.
The matter came up in a House when S Manikavasagam (PKR-Kapar, left) asked why there has been no sign! ificant imp! rovement in equity ownership between Indian Malaysians, notwithstanding a supervision pledge to safeguard which this would rise to 3 percent.
Devamany pronounced equity ownership has risen from 1.1 percent in 2006 to 1.6 percent after a Ninth Malaysia Plan, as well as which a aim would be met by 2020.
'Cowboy vs real' world
P Kamalanathan (BN-Hulu Selangor) asked if more places would be since to Indian professionals upon a house of government-linked companies (GLCs) as well as to yield special loans for Indians to squeeze equity in listed companies.
Devamany concluded which a purpose in GLCs could have a trickle-down outcome in uplifting Indian equity ownership, as well as pronounced this is being deliberate by a cupboard charge force seeking in to a needs of a community.
However, he was more cautious upon a emanate of special loans for share purchase, expressing stress which a seductiveness as well as a dividends from a shares might not match up. This, he said, could lead to Indians finding it formidable to pay off loans.
M Kulasegaran (DAP-Ipoh Barat, left) afterwards stood up to criticism which a government's policies have been inconsistent when it comes to assistance for Indians.
He pronounced a supervision had usually scrambled to movement after being mauled in a 2008 election by a detriment of Indian votes.
Kulasegaran further pronounced which a community's appearance in a civil use has shrunk to 4 percent.
Devamany disputed a claim, saying Indians have up 5.4 percent of a civil service.
"You contingency get a contribution right. Don't only fire from a hip. This is not a cowbo! y world! " he said.
"This is a genuine world," responded Kulasegaran.
Read More @ Source He pronounced a banks have told these business which they had run out of units whenever inquiries have been made.
"This is since they fear losing bound deposits (placed by customers). we have told off a bank managers, asking them why this is so, as well as informed Permodalan Nasional Bhd (PNB)," Devamany pronounced during Question Time in a Dewan Rakyat today.He pronounced a Indian Malaysians influenced had longed for to withdraw their bound deposits to buy a special allotment for Indians in a section certitude schemes.
Devamany lamented which Indians have been at a losing end, as bound deposit accounts usually compensate about 2.5 percent interest, whilst some section certitude schemes might bring in about 6.5 percent in dividend.
Met later, he reiterated which a PNB contingency monitor a situation to prevent this from happening as banks fool around an important purpose in ensuring which allocations for a Indian village have been successfully distributed.
Currently, RM420 million value of a special allotment is still watchful to be picked up, out of a total units valued at RM445 million in ASM as well as units valued at RM1.5 billion in AS1M.The matter came up in a House when S Manikavasagam (PKR-Kapar, left) asked why there has been no sign! ificant imp! rovement in equity ownership between Indian Malaysians, notwithstanding a supervision pledge to safeguard which this would rise to 3 percent.
Devamany pronounced equity ownership has risen from 1.1 percent in 2006 to 1.6 percent after a Ninth Malaysia Plan, as well as which a aim would be met by 2020.
'Cowboy vs real' world
P Kamalanathan (BN-Hulu Selangor) asked if more places would be since to Indian professionals upon a house of government-linked companies (GLCs) as well as to yield special loans for Indians to squeeze equity in listed companies.
Devamany concluded which a purpose in GLCs could have a trickle-down outcome in uplifting Indian equity ownership, as well as pronounced this is being deliberate by a cupboard charge force seeking in to a needs of a community.
However, he was more cautious upon a emanate of special loans for share purchase, expressing stress which a seductiveness as well as a dividends from a shares might not match up. This, he said, could lead to Indians finding it formidable to pay off loans.
M Kulasegaran (DAP-Ipoh Barat, left) afterwards stood up to criticism which a government's policies have been inconsistent when it comes to assistance for Indians.He pronounced a supervision had usually scrambled to movement after being mauled in a 2008 election by a detriment of Indian votes.
Kulasegaran further pronounced which a community's appearance in a civil use has shrunk to 4 percent.
Devamany disputed a claim, saying Indians have up 5.4 percent of a civil service.
"You contingency get a contribution right. Don't only fire from a hip. This is not a cowbo! y world! " he said.
"This is a genuine world," responded Kulasegaran.
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Courtesy of Bonology.com Politically Incorrect Buzz & Buzz
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