By ZUHRIN AZAM AHMAD
zuhrin@thestar.com.my
KUALA LUMPUR: The Amanah Saham Wawasan 2020 Bandar (ASW2020-Bandar) has been launched with an allocation of RM100mil to help the hardcore and urban poor.
The scheme, launched by Prime Minister Datuk Seri Najib Tun Razak yesterday, is aimed at benefiting 8,439 poor families who had been identified through the “eKasih” programme earlier.
Under the scheme, each family will be allocated a principal investment of RM10,000 of ASW2020-Bandar shares under the name of the head of the family. The unit trust is managed by Permodalan Nasional Bhd.
Najib said the recipients would be entitled to annual dividends and other returns.
“The principal investment will remain the Government’s money but you will take home all other returns. The returns may be about RM600 and RM700 a year which may not be much but I am sure it will go a long way in improving one’s quality of life,” he said at the launch of the scheme at Tasik Titiwangsa here yesterday.
Najib said the allocation was for the life-time of a recipient and was not transferable to other family members in the event of his or her death.
In such a case, the principal investment would be offered to others in the group, he said.
He said although 8,439 families were eligible for the scheme, only 4,976 would receive it as the others had yet to be located.
“Maybe they are no longer under the hardcore poor category, have moved elsewhere or simply are not interested in the ASW2020 shares.
“Nevertheless, we will ensure that those eligible will benefit from the scheme. We are very committed to the Government’s inclusiveness approach outlined in the New Economic Model,” he said.
From Star Online Published on June 25, 2010
