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Apply for Skim Amanah Rakyat SARA 1Malaysia

February 1st, 2012
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First, some introduction:

Skim Amanah Rakyat 1Malaysia (SARA 1Malaysia) is a special Scheme initiated by the Government of Malaysia aimed at promoting the participation of the low-income group to save and invest; apart from to assist them in managing the impact of the rising current cost of living.

The Scheme will be implemented in collaboration with Permodalan Nasional Berhad (PNB) and selected financial institutions.

Through this Scheme, eligible Malaysians will have the opportunity to apply for a RM5,000 loan from participating financial institution to invest in Amanah Saham 1Malaysia (AS 1Malaysia) managed by Amanah Saham Nasional Berhad (ASNB), and will receive attractive incentive payments on their savings and investments.

About the loan:

  • The loan amount is RM5,000 per household.
  • The loan is for the purchase of 5,000 Amanah Saham 1Malaysia (AS 1Malaysia)I units.
  • Participation will be opened for one year starting from 30 January 2012* or upon full subscription of the total allocation, whichever is earlier.
  • Participation will be disqualified in the event of:
  1. The participant misses three consecutive monthly payments;
  2. The participant provided false information during application;
  3. The participant is declared a bankrupt; or
  4. The participant dies.

NOTE: there was supposed to be a cash based investment as well (meaning you don’t need to apply for the loan), but latest statement in BERNAMA says only loan-based application will be accepted.

So, what are the benefits?:

If you use your savings to invest, you will get a fixed dividend of RM134 monthly. But, if you choose to reinvest the dividend every month, you will receive RM13,000 at the end of the programme’s five-year lifespan. [but since you can't use cash, so I'm not sure how this will work as nothing is mentioned on the official website].

If you take the loan, repayment is RM84 monthly, leaving RM50 to reinvest and a RM10,000 payout in five years.

Also, surprising to see quota in the allocation. If your aim is to help poor people, why have quota based on race?

1. Are you eligible? Check this out:

  1. Malaysians aged between 18 and 58 years old
  2. Gross household income of between RM500 and RM3,000
  3. Applicants must not be declared bankrupt throughout the loan funding period
  4. Any other terms set by the banks
  5. Applicants and / or spouse must not be a participant or beneficiary of any ASNB-related Government programme:
    • Program Pembangunan Rakyat Termiskin;
    • ASB Sejahtera; and
    • ASW2020-Bandar
  6. Applicants and / or spouse do not have any investments in ASNB unit trust products OR applicants and/or spouse(s) (household) have a combined aggregate investment of less than RM10,000 in all ASNB products
  7. All-clear status for ASNB unit trust account
  8. Application is subject to the distribution of Amanah Saham 1Malaysia (AS 1Malaysia)I as stipulated and availability:
    • Bumiputera – 50%;
    • Chinese – 30%;
    • Indian – 15%; and
    • Others – 5%
  9. Only one member of the household is eligible to obtain the loan funding
  10. Application is approved for a loan at one bank

DEFINITION OF HOUSEHOLD
Eligible household refers to individuals with gross household monthly income of between RM500 and RM3,000 including the following categories:

  • Married – a combination of gross income of the husband and wife; and
  • Single mothers or fathers – individual gross income.

2. Fill up the Application Form

So, you are qualified? Then get the form: http://www.sara1malaysia.com.my/Borang_SARA1M.pdf

3. What documents to prepare and bring? Prepare the following:

Main Documents

  • Application form to participate in Skim Amanah Rakyat 1Malaysia (BPPSARA1M)
  • Loan Form from the participating financial institutions
  • Registration form of Unit Amanah Akaun Dewasa ASNB P1
  • Additional Investment Form ASNB 21
  • Redemption Form ASNB 31
  • Investment Book Renewal Form BS3
  • Risk Disclosure Statement (RDS)

Supporting Documents

  • Original and 2 copies of Mykad of applicants
  • Original and 1 copy of Mykad of spouses (if applicable)
  • Certified Income document
    • For applicants and/or spouses, please provide original and copies of the latest three months’ Pay Slips or Bank Statements.
    • For applicants who do not have Pay Slip or Bank Statement, the income declaration stated in BPPSARA1M Part C will be applicable.

     

    * BPPSARA1M MUST be signed before a WITNESS – either the Employer/Penghulu/Official at the Department of Orang Asli Development/Government Official in a Managerial Position /Member of State Legislative Assembly/ Member of Parliament

4. Where to go to apply? 

Go to any branches of the following banks: Maybank, RHB, CIMB, BSN. If your application is approved, the bank will inform you.

5. Got questions? Contact them! :

Special Project Unit – SARA 1Malaysia
28th Floor, Menara PNB
201-A Jalan Tun Razak
50400 Kuala Lumpur

Tel: 03-2057 3065
Fax: 03-2050 5140

Email: saracare@sara1malaysia.com.my
Website: http://www.sara1malaysia.com.my

HOTLINE from 9 a.m. to 5 p.m.
Monday to Friday (excluding public holidays)

reference: http://www.sara1malaysia.com.my/n_index.php

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Application for Rm500 Bantuan Rakyat 1Malaysia extended to February 10

January 13th, 2012
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Good news to those who missed the application for Bantuan Rakyat 1Malaysia. The deadline has been extended by another month, to February 10.

Want to know how to apply, how’s eligible etc? Refer to my earlier post here:  Apply RM500 Bantuan Rakyat 1Malaysia

The deadline for the public to submit the application form for the RM500 Bantuan Rakyat 1Malaysia (BR1M) scheme has been extended to Feb 10.

Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said the form could be submitted at all Inland Revenue Board (IRB) offices and agencies handling the aid.

The one-month extension came following appeals from those who were unable to submit the form by Tuesday.

The forms had been distributed since last month to assist households earning below RM3,000 a month.

Ahmad Husni said successful applicants would be given vouchers which they could cash at all Bank Simpanan Nasional, CIMB and Maybank branches.

“The distribution will begin on Sunday and is expected to take two months for completion.

“During the period, successful applicants will receive letters informing them of the dates and venues of the voucher presentations.

“The banks will also provide mobile counters for recipients to cash the vouchers which are valid until April 15,” he said.

Ahmad Husni said besides the letters, applicants could also check their application status by calling the hotline 1-800-222-500 and 1-300-88-3010 beginning Monday.

The hotline will operate between 9am and 5pm on working days.

Unsuccessful applicants can appeal by filling a special form available all IRB offices and the selected agencies.

The form can also be downloaded from the Finance Ministry’s websitewww.treasury.gov.my.

As of Tuesday, 3,102,054 applications had been approved from 4,123,713 forms received.

“The rest are being processed,” he said.

source: http://thestar.com.my/news/story.asp?file=/2012/1/13/nation/10255017&sec=nation

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Apply RM500 Bantuan Rakyat 1Malaysia

December 12th, 2011
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The Bantuan Rakyat 1Malaysia (BR1M) whereby households with monthly income of RM3000 and below can get RM500 one-time payment is out since 10 December. Those interested can download the form from Treasury website at:

http://www.treasury.gov.my/pdf/br1m/Borang_BR1M.pdf  or LHDN offices as well selected location like some schools.

REMEMBER, the form is FREE, FREE, FREE.

Need help understanding if you are eligible or not? refer the below diagram:

Note that need to submit copy of your MyKad and also payslip (if have). And those registered in e-Kasih also eligible.

 

 

 

Even if your married children stay with you and have their own income, you can still claim (and they also can claim) as long your income is below RM3000.

Single parents or those staying alone also can claim, as long as monthly income below RM3000.

You can also refer the document at: Mekanisma Bantuan RM500 9 Dis 2011 Edaran Laman Web

 

For help,  you can call/email:

Talian hotline : 1-800-222-500 (Bebas Tol)

Waktu operasi : 9.00 pagi hingga 5.00 petang (hari bekerja)

Emel : belanjawan2012@treasury.gov.my

Perkhidmatan mulai 7 Disember 2011 (Rabu)

Bilik Operasi Bajet
Aras 10, Blok Tengah
Kompleks Kementerian Kewangan Malaysia
1-800-222-500 (Hotline)
03-8882 3786 (Faks)

You can also refer to your MP or ADUN for the forms.

Hurry to register by end of the year 10 January 2012.

 

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RRI Indian workers for generations!

November 29th, 2011
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Just imagine this, generation after generation working away, and now left with nothing. All this while, quarters provided, got salary, and enjoyed at relaxing environment, but their future is very bleak without ownership of house nor any suitable skills for uplifting their economic status. Can you imagine what is the fate of their kids?  Did the previous generations ever thought of getting out of the vicious cycle or were they ever given a chance to do so?

Can imagine similar scenario happening for estate workers.

Hopefully in this case, the government is able to provide the families a piece of land or other award for their hard work and loyalty.

 

THE 86-year-old Rubber Research Institute of Malaya (RRIM) in Sungai Buloh, Selangor, will soon make way for a new integrated development in the Klang Valley and the 300 workers out of the 660 are worried that they would be forced to relocate to other research stations in various states.

The 1,348ha site, owned by the Malaysian Rubber Board (MRB) since 1925, is expected to be become a commercial, residential and transport hub under a joint venture between the Federal Government and the Employees Provident Fund.

The workers will have to be relocated to other research stations in Sungai Sari in Kedah, Bukit Kuantan in Pahang and Kota Tinggi in Johor.

Solid foundation: One of the oldest houses still standing within the grounds of RRIM. The 70-year-old house is now abandoned after the family moved out.

Some 243ha would be retained for RRIM facilities, which will include the headquarters, Centre for Excellence that houses latest research and development amenities, a business cluster to encourage foreign investments, the Royal Commodity College trains workers for the industry and a museum.

The site is one of the federal assets to be redeveloped under the Greater Kuala Lumpur Strategic Development Project, an initiative under the 10th Malaysia Plan to revitalise the city.

A. Vellaiamah, 70, worked as a rubber tapper at RRIM for 41 years.

The mother of four is suffering from an enlarged thyroid and doctors had advised her not to go ahead with the surgery as there might be complications.

Three of her children have died of cancer.

Her father Ayamuthu was the only chief security guard at RRIM in the 1940s. Vellaiamah’s husband, Kandhasamy, was a chief driver here who died 26 years ago.

Her son, Gunasegaran, who represents the family’s fourth generation, now works at RRIM.

“My paternal grandmother worked as a rubber tapper, too. I have spent most of my life in this estate. I am sad with the impending development as that would mean we would be displaced to other states and my grandchildren won’t have the opportunity to work at RRIM.

“This place holds sentimental values for me because the Indian community are the ones who made RRIM what it is today. I consider my family to be one of the pioneers of RRIM,” she said.

For Vellaiamah, she will mostly miss working in the serene environment as well as the freedom for her three grandchildren to play at the football field and spend time with other kids at the RRIM quarters.

Rubber estate takes up 939ha while the remaining area houses nurseries, laboratories, midstream and downstream pilot plant factories and staff quarters, two schools (a Tamil and Islamic religious school), a mosque, a Hindu temple and recreational facilities.

All in the family: Janaky (back row, left) and her grandchildren S.Sangeetha (from left) S. Thanabalan, S. Tines, S. Thineswary and S. Arnin who are living at the RRIM quarters.

R. Janaky, 58, who works as a general worker, will be retiring next year but wants to extend her employment until the age of 60.

“I don’t know where they will post us to next. I have worked at RRIM for 31 years. My husband. a supervisor, has also just retired. My son works as a general worker at RRIM, so you can see the tradition we maintain in the family because we love working here.

“It is close to impossible to find a beautiful green lung like this in Klang Valley in this day and age. We would like to remain here and I hope the management will listen to our plight,” said the mother of five and grandmother to nine.

P. Chinna has a year before he retires from RRIM as a field recorder.

The 58-year-old is a third generation from his family working at the estate.

“My grandfather and father both worked at the RRIM experiment station in Sungai Buloh.

“I was born within the grounds of RRIM,” he said.

The father of three brought up his children on the estate.

“There are a lot of good memories and we have built precious relationships with the people here.

“I am just worried that couples who both work at RRIM will be relocated to different states which could disrupt their family union.

“The management should at least consider retaining about 80ha to house the workers. The relocation move could prove stressful to a lot of us,” said Ramasamy.

source: http://thestar.com.my/metro/story.asp?file=/2011/11/26/central/9964591&sec=central

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MIC creates Mainco for economic uplifting

October 21st, 2011
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Yeah, I know, one of the first thing that crosses our mind is – Not another MAIKA! A reader in MK also voiced the same.  Just to quote one example from that letter:

 

… Last but not least, the proposal to set-up 200,000 hectares of Indian owned plantations is eerily similar to Maika’s past record which eventually ended in the fragmentation of these estates in areas such as Tumbuk Estate, Kuala Langat.

To date, there is a community of 30 ex-plantation workers who are still waiting for the houses and gratuity compensation promised by Maika which never materialised, thanks to Maika’s failure to protect the best interests of its employees.

So, here’s the story: MIC has set up a company known as Mainco (Malaysian Indian Company/MIC Investment Company?). The purpose is to access various projects under all the TPs (ETP mainly, but I guess can extend to GTP, RTP too). However, there’s no mention if Mainco will ask the community to invest ala MAIKA. I strongly think they shouldn’t, as the comparison will be made to MAIKA. Perhaps at a later stage can consider listing or cooperative style membership, if the investment is successful.

So far, there’s some mention of getting soft loan from government to kickstart the company.

The other issue is who will benefit from such a company. Would it be cronyism all over? A case of “who you know” rather than “what you know” may get you the projects.  Anyway, we shall wait and see how it progress.  Would be interesting to see the roadmap/blueprint of plans and also how transparency is built-into the operation, organisation and management of the company.

The MIC has set up a special purpose vehicle known as Mainco Bhd to tap into the many development projects unveiled by the government in order for the Malaysian Indian community to reap the economic benefits from these projects.

Mainco, which has already been registered, would vie for business opportunities under the Economic Transformation Programme (ETP) such as those arising from the Mass Rapid Transit and the Greater Kuala Lumpur development projects, MIC president G Palanivel said today.

It would also acquire new businesses or buy into listed companies.

To operationalise Mainco and undertake these activities, MIC will ask for government support by way of soft loans, said Palanivel (right), who is also Minister in the Prime Minister’s Department.

“We want to make Mainco a successful business group and empower the Indian community,” he told Bernama in an interview.

The move would also contribute to efforts to lift the community onto the country’s mainstream of economic development from being a sub-stream community now.

He said the MIC was also requesting the government to award eight percent of the civil contracts in the country to Indian Malaysians.

This will enable Indian Malaysian contractors to make higher profit margins.

“Otherwise, if an Indian Malaysian uses other people’s license, then the profit margin will be very minimal, so we are looking at direct contract award,” he added.

Asked when all these plans would come to fruition, he said, “We need time and the support of the government.”

MIC was preparing the project paper containing all its proposals on how “we can work with the government and the private sector,” said Palanivel.

The MIC president expressed confidence in the government, under the leadership of Prime Minister Najib Abdul Razak, which was more sensitive and responsive than before the 2008 elections.

The government’s speedy response was evident when the Suria Cooperative proposed by MIC just after he took over was set up speedily with an RM8 million fund to provide financial help to Indian Malaysian retailers and enable traders to expand their businesses.

Furthermore, in the 2012 Budget, unveiled on Oct 7, he said the government had accepted MIC’s proposal for RM100 million to be set aside for Indian Malaysian entrepreneurs especially for women under Amanah Ikhtiar Malaysia.

The same amount has also been extended to the Chinese Malaysian community.

He said the MIC was also looking at Indian Malaysian participation in future eco-friendly projects such as extracting oil and essences from fragrant flowers.

“There is a demand for such environmentally-friendly products in European countries where consumers are willing to pay a premium,” he said.

Dairy projects including cattle farming to produce milk and milk by-products were also in the pipeline, said Palanivel.

There were plans to set up Indian Malaysian-owned palm oil plantations for which the MIC had requested for 20,000 hectares of land and funding, he said.

‘Soft loans rather than grants’

He reiterated that the MIC preferred requesting for soft loans from the government rather than grants to operationalise plans to uplift the economic status of the Indian community.

As to the economic standing of the community, he said more than 30 percent of Indian Malaysians could be categorised as low-income economy.

And many do not even have any income and some earn below RM500 per month, doing menial jobs like washing plates.

This was evident from the thousands of Indian Malaysians who turned up at the party’s Sunday service centres nationwide, be they from rural or urban areas.

“They look impoverished,” he said.

“The poor have to be mainstreamed, we have to empower, mentor and counsel them and in the process build up their capacity. We need a 10-year plan to bring the community out of its present rot,” he said.

Palanivel said that a good percentage of Indian Malaysians have been deprived and this “deprivation has led to violence, robbery and murders”.

“The community has lost its empowerment and capacity,” he said, adding that the time has come for deliverance out of poverty and low income.

source: http://www.malaysiakini.com/news/179059

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