Maybank no longer backs its paper gold with physical gold. They may say they does. You will never know.
Dear Valued Customer,
With effect from 16 May 2011, Gold Savings Passbook Account (GSPA) has been renamed as Maybank Gold Investment Account (MGIA). In line with MGIA’s enhanced features, existing GSPA accountholders who wish to withdraw from their account in a form of gold wafer may do so, subject to availability as per Clause 16.2 of the GSPA Agreement with a premium charge applicable. Accountholders have until 2 September 2011 to withdraw in the form of wafers, after which the available options of payment will only be in the form of cash or credit into their accounts.
For GSPA accountholders who are holding Maybank gold wafers, you may convert the gold wafers to cash or credit them to your account at the prevailing market price at selected Maybank branches from now till 2 September 2011. The selected Maybank branches are listed below:
Kuala Lumpur Main
Penang Main
Kuantan Main
Bukit Bintang
Alor Star Main
Seremban
Kota Bahru Main
Malacca Main
Shah Alam
Tawau
Ipoh Main
Wisma Satok
Kota Kinabalu
Lahad Datu
Should you still wish to have the option of retaining the gold in physical form, we would suggest that you opt to purchase the Kijang Emas gold coin issued by Bank Negara Malaysia which is available at selected Maybank branches.
Thank you.
Those who invested in Gold Savings Passbook Account (GSPA) will have until 2nd of September to withdraw their physical gold wafers. Thereafter, your gold investment will in paper format – a passbook.
Before that I have 3 laptops. One, I gave it away to my father in law. Two, is 3 years old. Three, is 2.5kg. I travel frequently too. It makes perfect sense to have a light weight lappie as a travel companion.
I went to Digital Mall in PJ and brought home a 13″ MacBook Air.
So that now you have decided to buy silver bars for your investment and yet you are stuck at another cross road.
“With so many types of silver bars in the market, which one should I buy”
To answer the above question, it is best that we look into what’s available in our market. Not all silver bars are made equal. I have noticed a few particular brands are more popular here than others. Over the course of my own research, I have summarized that the following silver bars are among Malaysian’s favourites.
They are:
Pamp Suisse Silver Bars
Scottsdale Silver Bars
Sunshine Silver Bars
Silver Towne Silver Bars
PAMP Suisse Bars – The Royce Rolls
If you must know, PAMP stands for Produits Artistiques Métaux Précieux, which in French means artistic, precious metals products. With that alone, it’s worth the extra dollar. Not only is the PAMP Suisse bar one of the most popular bullion in the world, it is also one which carries a very high premium.
While a generic silver bar may sells at around 2-4 dollars above spot price, PAMP Suisse bars are sold at 20 dollars above spot price. They don’t call her the Royce Rolls of silver bars for nothing. Buy in bundles of 25s, and the ladies will come with a nice outer box.
… and that lady in the bar, her name is Lady Fortuna.
Scottsdale Silver bars are easily recognisable by their distinctive lion logo on all their bars. They are made in USA with prefectionist manufacturing. Portion of their silver are recovered thru recycling activities from the photography and manufacturing industry.
Undoubtedly, “The Stacker” would be Scottsdale Silver’s signature product. Scottsdale Silver’s “The Stacker” stacks nicely ontop of each other making it easy, neat and space-saving for storage. Stackers come in various weight: “The Stacker (10oz)”, “The Kilo Stacker (1kg)” and “The King Stacker (100oz)”. All are authorized for use in IRA by the Internal Revenue Service of the United States of America and are ISO-9000-2008 certified.
Think IRA (Individual Retirement Account) as the American’s version of KWSP. Americans has the option to buy precious metals as part of their government backed retirement plan.
I received 2 messages from my MSN messenger yelling in joy, “Gold hit $1,600 an ounce! WOW!”… A quick check into my inbox and I have few newsletters on gold hitting the new high of $1,600/oz as well. So, what’s the big deal really?
Everybody is expecting gold to go further than $1,600. Do a quick google search and you’ll probably see pages of prediction of gold hitting $2,000, $2,500 or even more than $3,000 an ounce. So really, what’s there to shout when it’s $400 short from the $2,000 target?
To answer the above question, it is best that we look into what’s available in our market. Not all silver bars are made equal. I have noticed a few particular brands are more popular here than others. Over the course of my own research, I have summarized that the following silver bars are among Malaysian’s favourites.
If you must know, PAMP stands for Produits Artistiques Métaux Précieux, which in French means artistic, precious metals products. With that alone, it’s worth the extra dollar. Not only is the PAMP Suisse bar one of the most popular bullion in the world, it is also one which carries a very high premium.
