NEW writer recently received the 2014 Annual Report Amanah Saham Bumiputera (ASB). Authors often eagerly waiting for this report Bumiputera savings in ASB's proxy to the deposit savings rate in Malaysia. They are still very low invest in the units of other unit trusts.
At first glance, roughly, there was an increase in savings last year, where the average deposits increased by 13 percent since 2012, to RM15,928. In other words, over the past two years, the Fund has increased the savings of RM1,831.
However, when examined more closely, there are significant disparities. If you look at savings of 72 percent shareholder ASB bottom, which totaled 6.16 million depositors, which analyzed data very sad.
In fact, the majority of the natives have only an average savings of RM536 in the ASB last year. This is the reality. Not even 1,000. Never mind a little, it was very short, from RM611 in 2012.
Compared with an average total deposits showed an increase, the lowest class of storage is not increased, but decreased by 12.3 percent since 2012.
Due to the small amount of savings, the average dividend received by this group was also low at only RM45 last year, or RM3.75 per month. The total is only enough to eat bread rolled and teh tarik once a month.
This is in contrast to the rich, or more accurately, the top group comprises 0.2 per cent of shareholders ASB.
Compared with the majority of savers who have only RM536, the average savings elite, or more precisely, 16.928 savers, last year was RM745,038, or about 1,400 times that of those under 72 per cent.
In fact, the average savings increased by 7.7 percent from 2012 to 2014. The dividends received by them is also good. Armed with high initial investments, the group scored an average of 0.2 per cent dividend of RM63,328 or any number of RM5,277 per month.
In other words, the dividends received for last year would fund children's education in private universities or in cash to buy luxury motorcycles Ducati Scrambler.
Does the storage gap has widened or contracted? Obviously, it has widened. In the author's view, the cost of living is increasing, and the average salary is low, the main constraints to increase the number of Bumiputera majority of their savings.
When viewed from this angle, the launch of the GSP Scheme 2 last year was less effective strategy, only benefits the rich. Issues to be addressed are the financial constraints rather than a lack of places or platform to save.
It should be noted, the issue of lack of savings, and widening the gap, not just focus on indigenous people, but also occurs in other communities. In fact, the income gap widest in Bumiputera not, but in the non-Bumiputera, especially the Chinese.
The PNB efforts, through Sunday Trust, for example, to persuade the natives to save money in a trust scheme is strongly supported. At present, more than half the natives did not have a savings account at ASB, the number of very sad.
This can be boosted if there is awareness of savings and investment can be fostered at a young age and in school. PNB also urged authorities to review the requirements complicate savers withdraw their savings, but at the end of the year.
It is important to ensure that depositors receive nominal yield high dividends. The author understands that the majority of savers who make salary deductions will often remove their savings back in the early months.
This may be due to lack of cash for monthly expenses, or no penalty for making withdrawals. It's different when compared with other savings schemes impose a service charge for each output. Production appropriate mechanisms should be reviewed to ensure that the majority of savings increased.
We do not want a situation where the gap between Bumiputera widening, making the rich richer and the poor poorer.
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