Friday, December 02, 2011

Why fund the Barisan Nasional government if you are against their policies?

Since August 2011, I have started to move out part of my savings in Malaysia and invest in Singapore.

This is because I see no reason for me to fund the government that I do not trust. And, if the Lynas Rare Earth Processing Plant in Kuantan is approved for operation, I will dispose all of the Amanah Saham Unit Trust and withdraw all the available fund in account2 (KWSP) and park them in Singapore.

You do not need to wait for a general election to express your unhapiness on the existing ruling government. On top of the vote, one can pressure the government by withdrawing your money from all the funds that buying the Government Bonds.

Main Malaysia Government Bonds Buyers:
2. Unit Trust managed by Permodalan Nasional Berhad (PNB)
3. Fixed deposits under GLC banks (Maybank, CIMB, BSN, Agro Bank)

It is too easy for Malaysia government to issue bonds (debts) because there are ready government bonds buyer like KWSP and PNB.

It is not a good sign when PNB is launching a new unit trust (like Amanah Saham 1 Malaysia). The owner of PNB is the government. When the government need money, bonds will be printed. PNB will then raise fund by introducing new unit trust product or expand the fund size of existing unit trusts in order to buy the bonds.

Citizens who invest in the PNB unit trusts is paying real money to PNB in exchange of a booklet. PNB will then used the money to buy the government bonds (debts).

Why fund the Barisan Nasional government if you are against their policies?

Not convinced? Read below post:
Is the EPF (KWSP) being looted?

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