Singapore – Maybank has launched the second Islamic structured deposit, Prestige Structured Deposit, which has no limit on potential returns. Returns based on back-testing is in the range of 4% to 17%.
With features such as 100% principal guarantee (if held to maturity), low minimum investment amount of S$10,000 with no cap on upside, Prestige Structured Deposit is attractive to people of varying risk and investment appetites.
It provides investors with access to an index option comprising 30 Syariah-compliant global equities investing in two high-growth sectors – oil & gas and basic materials.
The index option, SGAM Al Baraka Commodity Index, is managed by Societe Generale Asset Management (SGAM), the global investment arm of Societe Generale.
It has a three-year tenure, and its underlying index will be actively managed and rebalanced along the way, which means its performance potential can be maximised accordingly.
“With this structured deposit, we are again opening up an avenue for retail investors to access sectors that are experiencing growth trends,” said Mr. Rosli Mohd Yusof, Head, Islamic Banking of Maybank Singapore.
According to SGAM (Hong Kong) Ltd structured product sales vice president, Mr. Ronnie Ho, there are several factors contributing to the upswing in these sectors. These include the increasing demand for basic materials from the huge growth in construction and infrastructure projects in China and other emerging economies.
"If we look at the commodity sector, there is a market cycle of usually between seven to 10 years. What we have identified here is that we are in the middle of that cycle which means there is still a potential growth for the next three to five years. In addition, investing in commodity shares is a way to leverage the expertise of those companies that benefit from the commodity sector," added Mr. Ronnie Ho.
Customers can obtain further information at any of Maybank’s 22 Branches islandwide, visit www.maybank2u.com.sg or call 1800-MAYBANK (1800-629 2265).
About Maybank
Maybank started its operations in Singapore in 1960 and is a Qualifying Full Bank with the most extensive network amongst the QFBs with 27 service locations. All the Branches and ATMs are strategically located in both the business districts and the suburban areas for the convenience of our customers.
Maybank started its Islamic Banking operations in Malaysia on 4 March 1993, followed by Singapore in November 2005. Maybank's strong home market position in Malaysia has enabled the Bank to expand its Islamic Banking business overseas in Bahrain, Labuan, London and Singapore. As of 1 Jan 2008, Maybank's Islamic Banking business in Malaysia is housed under its subsidiary called Maybank Islamic Bhd. The subsidiary aims to focus on international currency business, Islamic investment banking and Islamic wealth management. Maybank Islamic will start off with 12 Branches, supported by its conventional Branch network of 376 Branches and 20 private banking centres.
Maybank is Malaysia’s Islamic Banking leader with total Islamic banking assets of over US$6.9 billion (as at September 2007), and is the Largest Islamic Banking Service Provider in the Asia-Pacific Region - based on The Asian Banker Islamic Bank 40 (IB40) survey.
Maybank Singapore offers a range of wealth management products, and currently distributes more than 170 funds. It also launched the region’s first Islamic structured deposit, which targets investors interested in the commodities market.
Maybank has always been customer-centric and is continually pursuing initiatives to better serve our customers in anticipation of their evolving needs. |