Permodalan Nasional Berhad (PNB) and Maybank today jointly launched Malaysia's first online facility for making additional investments in ASB units. With this facility, ASB investors can top up their ASB account online via Maybank2u.com, without the need to visit a Maybank branch or Amanah Saham Nasional Berhad's (ASNB) office.
This new service was launched today by the Prime Minister of Malaysia, Dato' Sri Mohd Najib bin Tun Haji Abdul Razak, after the official opening of the Minggu Saham Amanah Malaysia (MSAM) in Johor Bahru.
Also present at the event were the Deputy Prime Minister, Tan Sri Dato' Haji Muhyiddin bin Mohd Yassin, Menteri Besar of Johor, Dato' Haji Abdul Ghani bin Othman, PNB Chairman, Tun Ahmad Sarji bin Abdul Hamid, its President and Group Chief Executive, Tan Sri Dato' Hamad Kama Piah Che Othman, Maybank Chairman Tan Sri Mohamed Basir Ahmad and President and CEO Dato' Sri Abdul Wahid Omar.
The new service marks a milestone as it offers ASB investors the convenience of making additional investments via Maybank2u.com from anywhere in the world. Another unique feature of this service is that it accepts additional investments to third party ASB accounts, thus allowing family members or guardians to invest for their loved ones.
Tun Ahmad Sarji said that the new service underscores PNB's commitment towards making unit trust investment accessible to all. "The digital generation is comfortable with using the internet for all manner of transactions, so this step is timely in capturing the evolving needs of a new generation of Malaysians. We're happy that Maybank is willing to work with us to achieve that goal."
Tan Sri Hamad Kama Piah said that going online was part of PNB's ongoing effort to fulfill its mandate. "We take our socio-economic objectives very seriously and providing an online service for investment was a logical step to take. We had the same objective in mind when at our own cost we computerised the Post Office back in the 1980s, so that Malaysians could invest no matter how remote the location. We want to achieve an investment savvy society, and reducing the barriers to investment is a key component of that goal."
"So we are very honoured to have the YAB Prime Minister launch this service at MSAM, because it is part and parcel of the same strategy, our "White Ocean" strategy of achieving social goals through value innovation. Value innovation here is to continuously create value for our investors by always moving forward with our products and services. MSAM contributes by providing a platform for information and education on financial planning and investment, and at the same time showcasing the technologies made available by service providers that can make investment less time-consuming and complicated. Through the exhibits and the myriad activities we have planned for this week, we want to make sure that Malaysians, especially our youth, have the knowledge and facilities as well as every opportunity to plan for their own financial freedom."
Meanwhile, Tan Sri Mohamed Basir said that the new service will appeal to those who are technologically inclined as well as encourage other investors to become more savvy by leveraging on technologies for their investment needs.
"We are pleased to work with PNB to offer this innovative alternative for investors to increase their ASB investments," he said. "Given the continuous interest in ASB unit trusts among the public, this new service will certainly reinforce Maybank's leadership in online banking for which we command over 54.8% of market share today."
Maybank President and CEO, Dato' Sri Abdul Wahid Omar said, "The introduction of this service offers an efficient and safe electronic payment alternative as investors do not need to travel to PNB agent offices or carry cash when making additional investments. They also do not need to queue or wait to be served at the counter. They are not restricted by locality to invest and can even ask their loved ones to do for them."
"Maybank offers the largest network of over 380 branches where the public can make investments in its ASNB stable of unit trusts and we will work with ASNB to provide even more valued added services to investors in the future," he added. "Our users have benefitted tremendously from Maybank2u.com which today offers an array of services, including payments to the largest number of payee corporations which number 700. Business partners on the other hand, benefit from our large customer base of over 3.6 million internet banking users."
Investors who wish to use the online service must register as a Maybank2u.com customer and have an active ASB membership number. The investor is only required to enter the ASB membership number, a security Transaction Authorisation Code (TAC) and select his savings or current account to pay for the additional purchases. All successful transactions can be printed for record.
The minimum investment amount is RM1 and the maximum is RM200,000 subject to the investor's purchase limit and funds available in the customer's savings/current account. The new service currently only allows for additional investments and in this first phase is available online from 12.01 am to 5 pm (Federal Territory working days). Those who wish to view their investment status or make withdrawals are still required to go to any Maybank or ASNB offices.