Apr 15, 2009

sukuk (not an english word)

Glad she's staying!! here's probably the reason.

The first series of this Islamic bond, called Sukuk Simpanan Rakyat (SSR) 01/2009, is part of the Government’s RM60bil stimulus package announced on March 10, where up to RM5bil in saving bonds will be issued this year for people aged 21 and above, and with a maturity period of three years.

This programme is designed for Malaysian citizens as an alternative savings vehicle providing double the current fixed deposit rates, with option for account holders to withdraw their money any time.

and this...

“This is a good way to make our money grow as it is safer and more secure compared with other kinds of investments,” she said when met at a bank yesterday.

The pensioner who bought the maximum amount available for an individual at RM50,000 said the interest return at 5% was the main attraction for her.

“The interest rate for FD (fixed deposit) is only 2.5% for a year.

“I’ll encourage my friends and family to buy the bonds too as now it seems to be the best way to make money grow, especially for pensioners like me,” she said.

there's 2 schools of thought.

1. "hey, the government is giving us money. that's double the interest of the fixed deposit!!"
2. "bond, means I am giving the government loan. I don't think i want to borrow the government. it maybe in black and white, but if the government goes hollow and bankrupt due to some reason, i think i will get back less than 2.5%"

my school of thought.
- if got extra money to spare, no harm in investing. but then again, don't believe the bloody shit everyone is spinning, believing it is oh-so-stable and oh-so-certain.

remember, nothing is certain, except for tax and death.

3 comments:

wicrap said...

any 'malaysian' can invest in this?

Bond more secured compare to stocks. But no risk no gain too.

Maturity in 3 years..hmm...long term stuffs.

bongkersz said...

"The pensioner who bought the maximum amount available for an individual at RM50,000 said the interest return at 5% was the main attraction for her."

Oh my, oh my.. a meagre 5% is the main attraction?

Hmm.. this is just another spin by the MSM to make these government bonds sound attractive.

Hey, if the government's financial is so stable so good so certain, WTF (Why The F**k) it needs our money in the first place? Think..

1. Lower FD interest - to discourage savings
2. Now this 'sukuk' thing is introduced with slightly higher interest is to 'twist your arms' into buying/investing in it.

Right there bro, nothing is certain except death. Tax.. er.. debatable. :D

pilocarpine said...

tax... i dun think it's dat debatable..