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Sabah tots among lucky ones
Published on: Wednesday, January 03, 2018

Kota Kinabalu: Six lucky babies in Sabah – three in Tawau and six in Ranau – were among the first in the country to receive the Amanah Dana Anak Malaysia 250 (ADAM50) for being born on New Year's Day.

Ranau Hospital Director Dr Clarence Dharmasena Sirisani when met, described the three babies as lucky infants as they would benefit from the RM200 Investment Book as announced in the 2018 Budget (pic).

One of the mothers, Norlaila Binti Ibrahim 24, from Kg Gambaron Telupid, was delighted, that her baby was getting the incentive.

The first baby, a girl was born at 7.31am on January 1, from Kg Sinarut, while the second baby was born at 1.40 pm and the third baby was also born at 4pm both baby boy and from Kg Gambaron Telupid.

In TAWAU, Dieh Siong Teck, 27, said it was "double joy" for him and his wife following the safe delivery of his first child and getting the incentive.

"We will continue to save for our child's future," he said.

Norhasimah Abd Suhun, 35, who delivered a girl at about 4.50am, thanked the Government for the incentive for her seventh child. "This gift will be for her education," the civil servant said.

Tawau Hospital Director Dr Norlimah Arsat said four New Year babies were delivered at the hospital as at noon – three to Malaysian families and one to a foreign couple.

Under the ADAM50, every Malaysian baby born from Jan 1 until 2022 will receive RM200 worth of unit trust.

For bumiputra babies, the amount will be credited into Amanah Saham Bumiputera (ASB), while non-bumiputra babies will have the incentive put in Amanah Saham 1Malaysia (AS 1Malaysia) accounts.

Permodalan Nasional Berhad (PNB) president and CEO Datuk Abdul Rahman Ahmad urged all new parents and parents-to-be to take advantage of the incentive to save for their children.

"We would also like to encourage parents to make additional investments in ADAM50 and take advantage of the compounding interest.

"The investment limit for ASB will be up to RM200,000 while for AS 1Malaysia, it will be up to RM50,000," he said.

With a monthly additional investment of only RM50 and assuming a retained 6pc income distribution rate per annum, the total investment when the child reaches 18 years of age would be RM19,574 compared to only RM571 if there is no additional investment. ADAM50 is a special free incentive worth RM200 in the form of unit trust which was announced by Prime Minister Datuk Seri Najib Tun Razak in Budget 2018.

Abdul Rahman added that with an annual birth rate of around 500,000 in Malaysia, the total cost of providing the incentive over five years will be around RM500mil, to be borne equally by the Government and PNB.

The registration period for ADAM50 is up to one year from the date of birth. The mother, father or guardians of the baby must be Malaysian citizens age 18 and above.

"Once the account is activated, the RM200 will be credited automatically into the baby's ASB or AS 1Malaysia account.

"After registering their baby's birth at the National Registration Department, parents can then head to Amanah Saham Nasional Berhad (ASNB) or its agent banks such as Maybank or CIMB to register," Abdul Rahman said.

He added that the ADAM50 incentive was being offered up to Dec 31, 2022, as a trial concept and not an open-ended commitment so that the Government and PNB can gauge the take-up rate for the benefit.

For more information, visit www.asnb.com.my, call 03-20573000 or e-mail asnbcare@pnb.com.my.

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