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Tuesday, July 24, 2007

Making Smart Use of MYKAD for ASM Units

In a country that boasts IT savvy and smart managers, it is disappointing that ordinary folks have to endure long queues that end in frustration as the queueing was all in vain.

This is the second time that thousands of Malaysians were "treated" to a sold out situation for ASM shares.

While it is understandable to limit the offering to RM500m, the method of distribution leaves much to be desired.

I suggest the use of MYKAD to allocate such units on an allocation basis using the info readily available with PNB.

For a start, all those who have already more than 10,000 units should be ineligible for future offerings until everyone who does not own 10,000 units and wants to subscribe is given the opportunity.

Let's suppose we have 500,000,000 units and we want to allocate say 1000 units to each applicant. That means 500,000 citizens can benefit.
This is where the MYKAD can be used. The units can be distributed based on the states info plus perhaps the last digits ending with "0" and "1" for the first offering of the year, "2" and "3" for the second offering etc.

This means that all states will covered and 20% of the population comprising males and females equally will be able to subscribe.

PNB can advertise that those with the correct MYKAD numbers(and not already owning 10,000units) can apply for 1000 units within a one-week period by ATM transaction - no need to queue.

After the one-week period, if there is any surplus PNB can offer the same group of citizens (subject to 10,000units rule)the chance to subscribe for 2000 units within a two-week period.

One month after the initial subscription period, the balance is opened to all citizens (subject to 10,000units rule).

As the most important investment body in the country, one would expect that PNB should be able to devise a more equitable and efficient method to sell ASM units.

Unless those frustrated crowds at the banks make for a good photo shoot?

1 comment:

PeterP said...

Your idea is not only good but very fair in ensuring all have a chance in helping to prosper the country.

However, as usual, well meaning policies are always hijacked for the benefit of the well connected few.

And the frustrated crowds not only make for a good photo shoot, but the photos will be used as 'proof of the benevolence' of the gomen.