MIC president Dr S Subramaniam says party will intensify its promotion to achieve target of RM1.5 billion.
KUALA LUMPUR: The Amanah Saham 1Malaysia (AS1M) scheme for the Indian community has got off to a good start with the amount of investments reaching RM180 million, three days after it was launched.
MIC president Dr S Subramaniam said the party would intensify its campaign and promotion, and believed that the target of RM1.5 billion could be achieved.
“We did not set any time to reach the RM1.5 billion target but will see its growth within this year.
“This (AS1M) is an investment that provides consistent and low-risk returns.
“For those who do not want to take big risks, they can invest in AS1M,” he told reporters after launching the India Community Education 4.0 Tour Programme (Minder 4.0) here today.
The 1.5 billion additional AS1M units for the Indian community, by Amanah Saham Nasional Berhad, were opened for purchase on Jan 29.
It is expected to benefit some 50,000 Indians in the country.
New investors can purchase a minimum of 100 units, sold at RM100, to a maximum of 30,000 units.
Meanwhile, commenting on Minder 4.0, Subramaniam said the programme, organised by Putera MIC, with Deputy Education Minister P Kamalanathan, targeted more than 5,000 students this year.
He said the programme was important to help Indian students in Form 4 and 5 to be aware of the opportunities for public education in Malaysia, while increasing their ability to make the right education choices.
“I hope the students will be able to attend this programme and then use the knowledge given to apply for entry into the public higher education institutions.”
Starting on Jan 24, 2015, Minder, among others, also intended to increase the number of B40 (referring to the bottom 40% of households with a monthly income of RM3,900 and below) Indian applications to public universities and public education systems to upgrade their economic status.
“Until 2017, more than 16,000 students have benefited,” he added. -FMT
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