Malay Indians need help to buy ASM units: MIC

Kuala Lumpur, Apr.25 (ANI): The Malaysian Indian Congress (MIC) is reportedly concerned that many Malay Indians may not have the financial means to take up the 15 per cent quota of Amanah Saham Malaysia (ASM) units allocated to the community.

Party president S. Samy Vellu was quoted by The Star as saying that according to Permodalan Nasional Berhad, as of last Wednesday, Malay Indians had bought only 10.71 per cent or 53.5 million units of their quota of 499.5 million.

He proposed that the government assist the Malay Indians by providing a partial grant or loan to buy the units through any of its agencies or financial institutions.

MIC secretary-general Dr. S. Subramaniam said he would discuss with Prime Minister and Finance Minister Najib Razak a mechanism to ensure that the Indians could purchase the entire ASM units allocated to them. (ANI)