Malay Indians angry, fraud suspected in ASM sales

Written by: Super Admin
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Putrajaya, Apr 29: Malaysian Indian are allegedly furious over the unexpected sale of Amanah Saham Malaysia (ASM) units, which were specially allotted to the community.

Deputy Minister in the Prime Minister's Department S.K Devamany has said to have received atleast 60 calls since last Monday, Apr 20 from agitated Indians. The calls complain that the banks tell them that the units allocated to the respective branches had been sold out.

According to a report, Indians had acquired only 138.15 million units of ASM, which was only 27.7 percent of the total allocated to them, Devamany pointed out.

Suspecting a fraud he has called on an investigation into the issue and said that there has been some loophole that has led to the banks claiming that there are no uints left.

He also said that the government must facilitate loans for Indians especially those in the lower economic strata.


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