ASSAR Group

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Home > ASSAR Fund and ASSB Corporate Information

 

AMANAH SAHAM SARAWAK BERHAD (ASSB) is the management company for the Sarawak State Unit Trust fund, Amanah Saham Sarawak (ASSAR).


1. INFORMATION ON THE FUND (“ASSAR”)

ASSAR is an open-ended income fund issued and distributed by Amanah Saham Sarawak Berhad. Categorised as a fixed income fund, ASSAR seeks to provide investors with regular income over the medium to long-term investment horizon. A key feature of ASSAR is the Repurchase Price of a Unit is guaranteed not to fall below RM1.00 during Guaranteed Period.

Generally, ASSAR is suitable for investors who are seeking a certain level of capital protection or guarantee and a diversified investment portfolio comprising a minimum of 70% of its NAV in fixed income instruments, money market instruments and/or deposits, and a maximum of 30% of its NAV in equities.

An eligible applicant is: -

a Bumiputera of Sarawak origin who is at least 18 years old; or

a Bumiputera corporation operating in Sarawak; or

any other Bumiputera who, in the opinion of the Manager, have contributed directly or indirectly to the development of the State of Sarawak.

Depending on the level of net income ASSAR generates, ASSAR will provide distribution at least once every Financial Year.

 

For more information, please click on the link below to view, download or print.
Note: You will need
Adobe Acrobat Reader in order to view or print the electronic application forms. If you do not have it, you can download it from Adobe Acrobat Reader which is free of charge.:

ASSAR Product Highlights Sheet dated 8 September 2023.pdf

ASSAR Prospectus dated 20 October 2022 and Application Forms (Individual/Corporate).pdf


TOTAL NUMBER OF FUND AS WELL AS TOTAL VALUE OF FUND OPERATED BY ASSB:

Amanah Saham Sarawak or better known as ASSAR (the Fund) is the only fund being managed by ASSB and as at 31 May 2024 the NAV of the Fund is RM526,264,490.86.

 

TRUE NAV, SELLING PRICE AND REPURCHASE PRICE PER UNIT OF THE FUND:

As at 11 July 2024:-

True NAV per Unit

RM1.1007

Selling Price per Unit

RM1.1007

Repurchase Price per Unit

RM1.1007

 

The Selling Price or the Repurchase Price will be calculated based on the true NAV per unit at the next valuation point after the application for Units or repurchase request is received by the Manager provided that the Selling Price or the Repurchase Price shall be RM1.00 per unit if the true NAV per unit at such time is less than RM1.00 during the Guaranteed Period.

*The Fund will be valued at 6.00 p.m. on each Business Day. However, if the Fund has exposure to investments outside of Malaysia, the Fund shall be valued at 1:00 p.m. on the next Business Day.


DISTRIBUTION OF THE FUND

Interim Distribution for Financial Year Ending 30 June 2024

Entitlement Date Distribution Rate Total Income Distribution
31 December 2023 2.5 sen per unit (equivalent to a dividend yield of 2.36% per unit) RM 11.71 million


For more information, please click on the link below to view, download or print.

Note: You will need Adobe Acrobat Reader in order to view or print the electronic application forms. If you do not have it, you can download it from Adobe Acrobat Reader which is free of charge.:

ASSAR Annual Report 30 June 2023.pdf

ASSAR Semi Annual Report 31 December 2023.pdf new animated gif icon 2 | GIF Images Download

 

2. INFORMATION ON THE MANAGEMENT COMPANY, AMANAH SAHAM SARAWAK BHD

BOARD OF DIRECTORS:

The Board of Directors of ASSB comprises of the following:

YBhg. Dato Sri Haji Wahab Haji Dolah (Chairman) (Non Independent)
Date of appointment : 15 July 2019

YBhg. Datu Haji Soedirman Haji Aini (Non Independent)
Date of appointment : 18 January 2000

YBhg. Datu Hasmawati Sapawi (Non Independent)
Date of appointment : 31 October 2017

YA Datu Saferi Bin Ali (Independent)
Date of appointment : 1 May 2022

YBhg. Datin Josephine Anak Hilary Dom (Independent)
Date of appointment : 1 July 2022

 

INVESTMENT COMMITTEE:

The present composition of the Investment Committee is as follows:

YBhg. Datu Haji Soedirman Haji Aini (Non Independent)
Date of appointment : 1 June 2023

YBhg. Datu Hasmawati Sapawi (Non Independent)
Date of appointment : 15 December 2020

YA Datu Saferi Bin Ali (Independent)
Date of appointment : 1 August 2022

YBhg. Datin Josephine Anak Hilary Dom (Independent)
Date of appointment : 1 August 2022

 

Frequency of Investment Committee Meeting:

Reporting directly to the board of directors, the Investment Committee's main responsibility is to oversee and draw up broad policies for the fund management activities of the Fund. The members of the Investment Committee (“the Committee”) meet regularly, at least once every two (2) months to review the Fund's investment portfolio to ensure that all statutory guidelines relating to investment by unit trust funds are complied with.

 

KEY MANAGEMENT TEAM:

The key management team of ASSB comprises of the following:

Chief Executive Officer
Puan Norlia Madon

Head of Operations & Corporate Communication
Encik Kadari Bin Abg. Abu Bakar

Head of Corporate Marketing & Sales
Encik Kadari Bin Abg. Abu Bakar

Senior Compliance Officer (SCO) for ASSB
Puan Ng Boon Wank*

Manager, Finance
Cik Rajuna Ambi*

 

*Payroll under Permodalan ASSAR Sdn Bhd.

 

SUMMARY OF FINANCIAL INFORMATION:

The following is a summary of the past performance of ASSB based on audited financial statements for the last three (3) years.


Year Ended 31 December


2023
(RM)

2022
(RM)

2021
(RM)

Paid-up share capital

10,000,000

10,000,000

10,000,000

Shareholders' funds 16,122,704 15,465,459 12,066,233
Revenue 6,271,748 6,318,414 6,895,328
Profit/(Loss) before taxation 657,245 3,399,226 1,253,409
Profit/(Loss) after taxation 657,245 3,399,226 1,253,409

 

3. INFORMATION ON THE EXTERNAL FUND MANAGER

With effect from 21 October 2022, ASSB has appointed AHAM Asset Management Bhd (“AHAM”), a licensed fund manager under the Capital Markets and Services Act 2007, as the External Fund Manager for the Fund.

As the External Fund Manager, AHAM is responsible for providing investment management services to the Fund in accordance with the investment management agreement. AHAM reports to the Investment Committee of ASSB on a regular basis with regard to the performance of the portfolio and its investment strategies. AHAM is entitled to an annual management fee and this fee shall be borne by ASSB.

AHAM has more than twenty (20) years of experience in providing fund management services and as at 31 March 2024, AHAM manages funds totaling RM84 billion with 34% in equities, 23% in fixed income, 8% in mixed assets, 31% in cash management solutions and 4% in other assets.


4. INFORMATION ON MANAGEMENT COMPANY’S DELEGATES

(I) Settlement, Valuation and Fund Accounting

ASSB had appointed ASSAR Nominees (Tempatan) Sdn Bhd ("ANTSB") since 1 January 2005 to perform settlement as well as valuation and accounting functions for the Fund. Incorporated on 26 July 1995, ANTSB is a wholly owned subsidiary of Permodalan ASSAR Sdn Bhd (“PASB”), the holding company of ASSB.

Under the terms of the revised service level agreement dated 19 January 2023, ANTSB shall ensure settlement of all investment transactions, maintain proper books of accounts, carry out daily valuation, give information and assistance relating to the Fund as required by ASSB. All fees and expenses arising out of this appointment are not charged to the Fund and are solely borne by ASSB.

The overall staff strength of ANTSB as at 31 March 2024 comprises of one (1) assistant manager, two (2) executives, one (1) junior executive and one (1) clerk.

(II) Middle Office and Back-Room Functions

With effect from 1 January 2017, ASSB had outsourced its middle office functions of Compliance, Internal Audit and Risk Management to ASSAR Corporate Services Sdn Bhd (“ACSSB”), a wholly owned subsidiary of PASB. The back-room functions (i.e. IT, Finance, Human Resource, Legal and Secretarial) of ASSB were subsequently also outsourced to ACSSB with effect from 1 January 2023 following ASSAR Group Restructuring Exercise.

Pursuant to PASB Board of Directors’ Meeting on 31 January 2024, the revised PASB Group Corporate Structure was approved which involved the establishment of the Group Corporate Governance Division and the en-bloc transfer of all staff of ACSSB to PASB. In light of this, the provision of all of the above said functions had been taken over and been provided by PASB with effect from 1 February 2024.

 

 

 

Resources:

Click on the link below to view, download or print:

ASSB PDPA Policy

 

 

 



Last Updated on Friday, 12 July 2024 09:01