Sharing some Investing and Economic insights:
BUKAN MAIN-MAIN! The issue of insufficient savings in the Employees Provident Fund (EPF) is at a serious level: 6.3 million members under the age of 55 (or 48%) are having less than RM10,000 in their accounts as of 30 Sep – Ministry of Finance.
- That has increased from 4.7 million in April 2020, before the Covid-19 special withdrawals.
- Do you know? You can set your own retirement fund with Raiz;
- Click here to open Recurring Investment.
- Set target amount. Set goal for “Retirement”.
- Set any amount and frequency to invest. For example, RM5 a day.
Sam Altman (the maker of ChatGPT) has been dismissed as CEO of OpenAI, by the company’s board of directors.
- Unlike other tech founders such as Mark Zuckerberg of Meta’s Facebook, Altman did not have equity in OpenAI.
- OpenAI remains a privately held company (meaning it is not publicly traded on any stock exchange).
- Microsoft has invested US$13 billion into the startup, making it by far its biggest shareholder with roughly 49% stake.
- Mr Altman is now being hired by Microsoft to lead its in-house AI team.
Sime Darby Berhad has obtained shareholders’ approval to buy Permodalan Nasional Berhad (PNB)’s 61.2% stake in UMW Holdings Berhad for RM3.57 billion.
- The two automotive and industrial giants are going to be merged.
- Sime Darby – BMW, MINI, Rolls-Royce, Porsche, Hyundai, Ford, Land Rover
- UMW – Toyota, Perodua.
Raiz is about helping you save & invest more – being able to save 5% of your salary every month is better than earning 5% return. Having a disciplined savings habit can help improve your financial position quicker (than spending time choosing the best fund manager).
Do you know?
As of 30 September 2023, Malaysia’s local stock market (Bursa Malaysia) has a total size of RM1.76 trillion. The largest investor is PNB with RM159.7 billion, followed by the EPF with RM154.12 billion, and Khazanah Nasional with RM62.7 billion.
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