Post #7247

COVID-19 // global economy recession // ASB Hi everyone, how are you guys doing? Regarding COVID-19, Let's do whatever we can do to fight it and avoid doing whatever things that could continually spread it; Pray, stay at home, practice good hygiene and also.., be prepared for global economy recession.. Okay, this post is not intended to scare people, but just as reminder & to create awareness so that we can be wisely prepared for what's going to come. First of all, I'm so grateful for our new Malaysian Prime Minister & the government for the actions & decisions they made not only in order to fight COVID-19 by giving free test & screening as well as treatment to COVID-19 patients, implementing MCO & disinfection of places throughout the whole country, but also to take care of our welfare during this MCO by cutting half of the salary of all ministers including our Prime Minister himself for two months (first time in history of Malaysia) to contribute to COVID19 fund which then enable all of us to be given incentives accordingly with nobody left behind; plus help us be prepared with global economy recession;(why do you think we are given moratorium automatically for 6 months when the MCO lasts only for 28 days? Yes, for us to be prepared for global economy recession. This isn't for us to be blindly happy & go shopping since we have been given 6 months moratorium, but be grateful & do not waste this opportunity to save, save and save more!). Anyway, you see, this COVID-19 is affecting people globally to the point we have Movement Control Order (MCO) and for some countries; a total lockdown – this will affect global economy trades and idk but personally (since I'm not an expert in economy, I'm gonna remind you that this is my personal view – based on logic and common sense of course) that even the well-known lowest risk investment in Malaysia; ASB unit trust dividends & bonus will DEFINITELY be affected in this year 2020 too, hopefully (crossing my finger) not worse than 2019. Last year's (2019) is ASB's lowest dividend ever since ASB unit trust is launched in 1990. Some of you may already know the reasons why; poor local stock market performance which could possibly make ASB's return to negative if not because of ASB's foreign investment; yes, we're lucky that ASB invested in foreign investment too which is 22% of its portfolio and it is able to help ASB distribute a total dividend & bonus of 5.5%, at least. (Starting 2020, ASB is going to increase foreign investment to 30% as one of their five-year strategic plan) What we've touched just now was regarding poor local stock market performance and we depended on foreign investment to ensure that we still get positive return of our investment in ASB unit trust.. & think about now; with MCO & Lockdown Order here and there not only in Malaysia but globally. Hmm.. 🤔 Well, there's still a light though because Malaysia's biggest trading partner is China and China is the country who have successfully overcame COVID-19 but that doesn't mean that we're totally spared from experiencing this global economy recession, because both Malaysia and China are interdependent with other countries' trade as well. So, yeah... I've talked a lot now so yes please, be ready. Save up more. Don't see the moratorium as an opportunity for you to spend more on trivial stuffs but it is an opportunity for you to save up more given that you do not need to pay your house and car loan for 6 consecutive months starting April to September! Our government has opened the way, you need to take it to help yourself. Of course, we hope that everything will turn out to be okay, but there's no harm to be well-prepared for the worst. #thoughts@quietworld🍃