Punjabis excluded from 1.5 billion AS1M shares

Kamles Kumar

Those registered as Punjabi, Sikh and Kaur on their MyKad are ineligible to buy Amanah Saham 1Malaysia (AS1M) units reserved under the Indian category. – AFP pic, January 30, 2018.

FOLLOWING news that Amanah Saham 1Malaysia (AS1M) units were extended to Indian Malaysians under Budget 2018, Punjabis now find themselves excluded as their ethnicity is not recognised in fund manager Permodalan Nasional Bhd (PNB)’s registration system.

MIC deputy president S.K. Devamany said the confusion arose when Punjabis tried to register for the shares, as the PNB system only allowed “Indians” and not other sub-ethnic groups.

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  • Malaysian Punjabis need to make up their mind as to whether they consider themselves as Indians or not. I've heard many times during my interactions with Punjabi Sikhs & Christians in the past where they consider themselves to be different from other Indians.

    Not only that, a lot of them especially the elders show a strong repulsive behavior towards Indians. I can remember countless times where I'll be sitting in a certain bus seat or restaurant table and the elders will make a conscious decision to keep the women and children at a safe distance away. I can only imagine their reaction if there is a situation where one of their family members is dating an Indian, especially a lower caste, dark-skinned one.

    If you have that level of discomfort around Indians, then why include yourself in a scheme that is supposed to be directed to poor B40 Indians, basically those poor and marginalized Indians that you despise? You can't have your cake and eat it. Either you're one of us or you're not.

    Posted 4 years ago by KL Bikey