This article first appeared in The Edge Financial Daily on April 22, 2019

KUALA LUMPUR: Malayan Banking Bhd (Maybank) is anticipating to see a 15% rise in Amanah Saham Bumiputera (ASB) unit trust investments at the on-going, week-long Minggu Saham Amanah Malaysia 2019 (MSAM 2019) in Sungai Petani, Kedah, that will total some RM120 million, versus RM104 million recorded at the same event last year.

The anticipated increase is based on continued confidence of customers investing in Amanah Saham Nasional Bhd (ASNB) products, and the convenience provided through Maybank’s digital channels that offer the benefits of speed, with minimum documents needed, Maybank said in a statement yesterday.

According to Maybank’s head of Community Financial Services Malaysia Datuk Hamirullah Boorhan, the group has garnered over RM6.1 billion worth of ASBN investments in the first three months of this year.

“We are hoping to record over RM25 billion of ASNB investments by the close of the year,” he added.

He said MSAM events serve as an ideal avenue for the public to understand more about saving for the future and the various investment options available in the market. The MSAM this year is open to the public from 10am to 10pm from April 19 to April 25 — except for April 25, when it will close at 5pm.

Apart from providing visitors the opportunity of investing in ASNB unit trust products, Maybank is also showcasing a range of other savings and financial planning products including its own unit trusts, insurance and takaful protection products, will writing, deposit products as well as providing financial advisory services at MSAM 2019.

At this year’s MSAM, Maybank has also launched its new online application service for ASB financing, which is available via the Maybank App, that allows existing customers to apply for ASB financing on-the-go. While non-existing customers can also apply via the Maybank App, they will need to visit the branch for verification purposes.

“In line with our aim on becoming the digital bank of choice, we continue to offer our customers new digital conveniences that will improve the way they plan their finances.

“The online application service for ASNB unit trusts via the Maybank App provides them the avenue to view and apply for investment products to suit their needs. On top of that, they will now be able to apply online for financing if they wish to increase their investments,” said Hamirullah.

“The new service will also improve the loan processing time and provide faster loan approvals and disbursements,” he added.