Focus

Avoid debt for ASB investments - Asyraf Wajdi

By FARHANA ABD KADIR
27 Sep 2023 07:37pm
Asyraf Wajdi said the public should refrain from taking on debt to invest in ASB due to the declining dividend rates. FILE PIX
Asyraf Wajdi said the public should refrain from taking on debt to invest in ASB due to the declining dividend rates. FILE PIX

SHAH ALAM - The public should refrain from taking on debt to invest in Amanah Saham Bumiputera (ASB) due to the declining dividend rates.

Majlis Amanah Rakyat (Mara) chairman Datuk Dr Asyraf Wajdi Dusuki said the current financing rate for ASB was approximately 4.7 per cent, and the increase depends on the Overnight Policy Rate (OPR) conditions.

"Never borrow to invest when ASB dividends are only about 4.6 per cent, and this amount keeps diminishing each year," he said in a Facebook post today.

Commenting further, Asyraf said a fundamental principle of investing was to avoid going into debt to prevent financial burdens.

He added that profits seldom sustain themselves when generated from borrowed sources.

"As the Shariah Committee and Board of Directors chairman of a local commercial bank in the past, I never allowed the bank to offer financing products for ASB investments," he said.

Related Articles:
malaysia
Invest
avoid
debt
ASB
Sinar Daily
More Like This
ECRL, valued at RM50 billion, has reached 72.93 per cent completion as of September 2024. Spanning 665 kilometres, the ECRL will connect the Klang Valley to the East Coast, reducing travel time between Kota Bharu and Gombak from seven hours by road to four hours by rail. - File photo
ECRL, valued at RM50 billion, has reached 72.93 per cent completion as of September 2024. Spanning 665 kilometres, the ECRL will connect the Klang Valley to the East Coast, reducing travel time between Kota Bharu and Gombak from seven hours by road to four hours by rail. - File photo
National Key projects make rapid progress, changing Malaysia's transportation landscape
Mammoth projects like the KL Sentral redevelopment, Pan Borneo Highway and the East Coast Rail Link (ECRL) are modernising urban centres and creating transport-oriented development.
Photo for illustration purpose only. - Photo illustrated via Canva
Photo for illustration purpose only. - Photo illustrated via Canva
National UMS: Three decades of excellence in Sabah's higher education and counting
Established on November 24, 1994, UMS has achieved remarkable milestones, including publishing hundreds of high-impact journals and producing groundbreaking innovations and research with some of this work being incorporated into government policies, contributing significantly to Malaysia’s...
The interior of Norpadilah's home, which features an English-style 'farmhouse' concept while still preserving its Malay identity. - Photo by Bernama
The interior of Norpadilah's home, which features an English-style 'farmhouse' concept while still preserving its Malay identity. - Photo by Bernama
National Creative ideas using recycled materials generate lucrative income for housewife
Who would have thought that crafting items from discarded materials could generate an income of thousands of ringgit?
Malaysian biker Katiravan Subrayan made his way to the southern part of the globe, travelling through Latin America. - Photo by Bernama
Malaysian biker Katiravan Subrayan made his way to the southern part of the globe, travelling through Latin America. - Photo by Bernama
National Katiravan Subrayan’s endeavour to save the planet takes him to Antarctica
On Nov 12, Katiravan became among the handful of Malaysians who set foot on the icy continent.