ID :
53721
Fri, 04/03/2009 - 18:28
Auther :
Shortlink :
https://oananews.org//node/53721
The shortlink copeid
M`SIAN BANK LAUNCHES FIRST AUTOCALL STRUCTURED DEPOSIT
KUALA LUMPUR, April 3 (Bernama) -- Maybank has launched its first autocall
investment structured deposit, Maybank Autocall Structured Deposit (MASD), an
investment opportunity for local investors to take advantage of China's
economic recovery.
Maybank, a trade name for Malayan Banking Berhad is the largest bank and
financial group in Malaysia, with significant personal banking operations in
Brunei, Singapore and the Philippines as well.
The bank also has large interests in Islamic banking and insurance via its
Etiqa subsidiary.
It will have investments linked to equities in six key corporations that
will benefit from China's economic recovery initiatives, namely its US$586
billion economic stimulus package, the bank said in a statement.
The corporations are China Construction Bank Corp, China Life
Insurance, China Petroleum and Chemical Corp, Petrochina Company Ltd, China
Telecom Corp Ltd and China Communications Construction Company Ltd.
"The autocall is an excellent structured product providing investors
protection for their principal, guaranteed returns, plus the early release of
their funds from the second year or on the anniversary thereafter, if equity
markets rebound sooner than expected," said Maybank head of consumer banking Lim
Hong Tat.
Lim said investors can enjoy potential yield enhancement by participating
in the stock recovery portfolio linked to China's economy, such as the
infrastructure sector, slated to be the largest beneficiary of the Chinese
government's massive economic stimulus plan.
The autocall structured deposit has a seven-year tenure with the
possibility of early termination from second year onwards, it said.
In addition, it offers a five per cent per annum guaranteed coupon payout at
the end of the first year, with potential coupon increases of six per cent per
annum from the second year onwards provided there is no autocall.
The minimum investment amount for MASD is RM100,000 (US$1=RM3.58) and
subsequent top-up
in multiples of RM50,000, it added.
-- BERNAMA
investment structured deposit, Maybank Autocall Structured Deposit (MASD), an
investment opportunity for local investors to take advantage of China's
economic recovery.
Maybank, a trade name for Malayan Banking Berhad is the largest bank and
financial group in Malaysia, with significant personal banking operations in
Brunei, Singapore and the Philippines as well.
The bank also has large interests in Islamic banking and insurance via its
Etiqa subsidiary.
It will have investments linked to equities in six key corporations that
will benefit from China's economic recovery initiatives, namely its US$586
billion economic stimulus package, the bank said in a statement.
The corporations are China Construction Bank Corp, China Life
Insurance, China Petroleum and Chemical Corp, Petrochina Company Ltd, China
Telecom Corp Ltd and China Communications Construction Company Ltd.
"The autocall is an excellent structured product providing investors
protection for their principal, guaranteed returns, plus the early release of
their funds from the second year or on the anniversary thereafter, if equity
markets rebound sooner than expected," said Maybank head of consumer banking Lim
Hong Tat.
Lim said investors can enjoy potential yield enhancement by participating
in the stock recovery portfolio linked to China's economy, such as the
infrastructure sector, slated to be the largest beneficiary of the Chinese
government's massive economic stimulus plan.
The autocall structured deposit has a seven-year tenure with the
possibility of early termination from second year onwards, it said.
In addition, it offers a five per cent per annum guaranteed coupon payout at
the end of the first year, with potential coupon increases of six per cent per
annum from the second year onwards provided there is no autocall.
The minimum investment amount for MASD is RM100,000 (US$1=RM3.58) and
subsequent top-up
in multiples of RM50,000, it added.
-- BERNAMA
