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MIC chief: Two billion unit trust for Indians within five years

MIC chief: Two billion unit trust for Indians within five years
Bernama - Malaysian Indian Congress - MIC - Najib Razak - Permodalan Nasional Berhad - Subramaniam Sathasivam - Unit Trust
September 12

(Bernama) – The Malaysian Action Plan for the Indian Community (MIB) is expected to provide two billion unit trust for Indians in the country within five years, MIC president Datuk Seri Dr S. Subramaniam said.

He said the offer, aimed at raising the Indian community’s economy, would be opened through Permodalan Nasional Berhad (PNB) to two categories, the B40 low-income households and the second category is open to all Indians.

“This is the first initiative of its kind for the Indian community to help them save, make contributions and promote a culture of long-term savings,” Dr Subramaniam, who is also the Health Minister, told reporters here today.

Dr Subramaniam who had earlier chaired the MIB Community Liaison Committee Meeting, said the matter was still in discussion between PNB and the Socio-Economic Development Plan of the Indian Community (Sedic).

Also present was Sedic director-general Prof Datuk Dr N.S. Rajendran.

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