Looks like the new Alliance Bank Bandar Puteri Puchong is getting ready for opening. Its located next the Standard Chartered Bank Bandar Puteri Puchong (opp OCBC and Ambank)
I also heard there will be a Public Bank and 2 Maybank branches in Bandar Puteri Puchong coming soon. WOW. Property prices in the surrounding area will surely go up
Bought any 999 gold coins yet ? Looks like prices is set to soar in 2008. If you stay in Puchong, buy them from UOB Puchong
Reasons Why Gold Will Rise in 2008
1980 High
On January 21, 1980, gold closed at $825.50. Today, it takes $2,200.00 to buy what $825.50 bought in January 1980. Therefore, gold still has a long way to go before it reaches and surpasses its all-time high.
1. The Dollar Slide
Over the past five years, the dollar has lost 50% of its value versus the euro. Large institutions and central banks are moving their dollar-based assets into non-dollar-based assets. This is coming at a time when the U.S. economy is slowing to a crawl. In order to stop the U.S. economy from slipping into a recession, the Federal Reserve has no choice but to reduce interest rates in order to stimulate the economy. As rates decrease, the dollar collapses. As the dollar falls, investors are moving their dollar-based assets into assets such as gold – increasing demand and pushing the price even higher.
2. Flight to Quality
The sub-prime mortgage crisis was the catalyst that pushed gold to 28-year highs, and now we’re seeing investors make a flight to quality as fundamentals are supporting strong prices. In 2007, gold produced a return just below 30% while the S&P 500 increased less than 8%. The uncertainty in the U.S. stock market, stemming from the sub-prime crisis, has caused investors to move their assets into stable assets. These assets, such as gold, have provided portfolios with much needed protection and, at the same time, have increased the value of portfolios at a rate of 4 to 1 over the stock market during the past few years.
Al Rajhi Bank has officially opened in Puchong. I saw an ad for that bank today in the SUN paper.
previous news from thestar
Barely two months after its soft launch in Malaysia, Saudi Arabia’s Al Rajhi Bank has quietly opened nine branches in the Klang Valley.
At least six more outlets are slated to open early next year in Kota Damansara, Subang, Puchong, Ampang Jaya, Bukit Bintang and Petaling Jaya, Al Rajhi Bank Malaysia said in an e-mail reply to queries from StarBiz.
Currently under renovation, the branches “would be operational soon’’, it said.
The nine branches are located in Jalan Ampang (the main branch), Taman Tun Dr Ismail, Bangsar, Cheras, Seri Hartamas, Kelana Jaya, Kajang, Shah Alam and Klang.
It is learnt that the bank also has plans to offer Islamic banking services beyond the Klang Valley next year and is eyeing Johor Baru, Malacca and Penang.
In five years, the bank’s vision is to have 50 branches throughout the country. It is said to have employed more than 300 people, including eight division heads.
That is how aggressive the 50-year-old bank is. Al Rajhi is a major player in Saudi Arabia and claims to be the largest Islamic bank in the world with a market capitalisation of US$80bil as at end-March this year.
Its core business in Saudi Arabia is in wholesale, retail, commercial banking and investment banking, all of which are guided by syariah principles. The bank has nearly 600 branches in Saudi Arabia, 1,400 automated teller machines (ATM) and over 8,00 merchant terminals.
Citibank China is giving Free Ferrari tryouts. Wow. What a great way to attract attention!
For now, Citigroup Inc. (NYSE C) is reaching out to China’s wealthy by marketing fancy deposit products tied to stocks and commodities which it already has permission to sell, such as an investment account linked to the stock performance of five retailers. Mr. Selvakesari targeted affluent customers in Singapore with similar products in the mid-1990s. He says they offer customers higher returns than basic Chinese savings accounts do, and they underscore Citigroup’s global reach.
Mr. Selvakesari says he wants to get wealthy people buzzing about Citigroup. He arranges for prospective customers to test drive Ferraris and Range Rovers. His team has invited prospects to “micromarketing events” such as presentations on feng shui, wine appreciation, health and economics.
Now you can cancel all your lost or stolen cards with just ONE phone call. Here’s another innovative service from Citibank. For Citibank credit cardmembers, your life will now be so much easier should your wallet be lost or stolen in Malaysia or abroad. All it takes is a single phone call and all your credit, debit and ATM cards (including those issued by other banks) will be cancelled within minutes to prevent unauthorized transactions.
Card Protection offers other benefits:
* ONE loss reporting hotline for all your cards, 24 hours a day, 365 days a year.
* Reimbursement for the replacement cost of your cards, identity card, passport, driver’s license, cash and even your wallet.
* Protection against unauthorized usage due to lost or stolen cards of up to RM300,000.
Sometimes, life is ironic. My friend who works in Citibank told me that he has taken a home loan not from Citibank but from another competitor. The reason ? Well it seems that a Citibank Home Loan is only competitive if its for re-mortgage or for a second home. Most of the time, you can only get a 85% loan from the Citibank Home Loan. Its tough if you don’t have enough money for that downpayment.
A good alternative to a Citibank Home Loan would be the OCBC Bank Graduate Home Loan scheme, which is targeted at young graduates between 21 and 35 years old who hold at least a diploma and minimum two years’ working experience.
Thoo said fresh graduates might settle for cheaper properties at the “wrong locations”, resulting in them not being able to enjoy a positive appreciation later.
“With our low entry rates, they would be able to choose a better located home and not get into a bad investment from the beginning,” she said, adding that the banks would review the debt-servicing ratios of applicants.
I called up some banks in Bandar Puteri, Puchong today to get some Fixed Deposit Rates. 2 of branch did not pick up the phone. That shows that they are still on Raya leave. Some more rates info here
OCBC Bandar Puteri, Puchong (Tel: 1300885000)
3 months = 3.2%
6 months = 3.4%
Ambank Bandar Puteri, Puchong (Tel: 80605944, 21788888)
3 months = 3.4%
6 months = 3.5%
Citibank Bandar Puteri, Puchong (Tel: 58851111)
3 months = 3.3%
6 months = 3.45%
Standard Chartered Bank Bandar Puteri, Puchong (Tel: 80646801)
3 months = 3.2%
6 months = 3.45%
OCBC , Bandar Puteri, Puchong , Standard Chartered Bank , Citibank , Ambank
OCBC has opened its 27th branch in Bandar Puteri, Puchong on 18 Aug 2006. Other banks nearby include Citibank, Ambank, StanChart. The new OCBC branch is also located near Giant and Yogazone.
OCBC Bank Bhd, has spent RM5 million to open up a branch in Bandar Puteri Puchong in Selangor. Datuk Albert Yeoh, director and chief executive officer, said the new Puchong branch would serve the needs of small and medium-scaled enterprises (SMEs) and corporate customers in the area as well as in the surrounding vicinity.
According to the Star, they are also setting up four branches by the end of the year, bringing the total number to 29. “We will have branches in Bukit Damansara, Puchong, Miri and Batu Maung in Penang up and running by year’s end,” director and chief executive officer Datuk Albert Yeoh told reporters at the presentation of prizes to winners of its “Luxury Condo” contest yesterday.
Yeoh said the Puchong branch has 27 staff workers as well 60 additional mobile staff that will go out to serve the bank’s customer needs and attract potential customers. “They (the mobile staff) are very important as they represent another channel of distribution for the bank,” he said. The latest Puchong branch will bring OCBC Bank’s branch network to 27. In September, the bank will open a branch in Miri followed by Bukit Damansara in October. Yeoh said the investments for both banks were between RM3 million and RM4 million each.
About OCBC - Oversea-Chinese Banking Corp.Ltd
We are one of Asia’s leading financial services groups and one of the largest financial institutions in the combined Singapore-Malaysia market with total assets of S$136 billion. We have an extensive network of over 310 branches and representative offices in 15 countries and territories including Singapore, Malaysia, Indonesia, Vietnam, China, Hong Kong SAR, Brunei, Japan, Australia, UK and USA. This network includes more than 200 branches and offices in Indonesia operated by OCBC Bank’s subsidiary, PT Bank NISP. Find out more about Singapore’s longest established local bank. OCBC Bank’s insurance subsidiary, Great Eastern Holdings, is the largest insurance group in Singapore and Malaysia in terms of assets and market share. Its asset management subsidiary, Lion Capital Management, is one of the largest asset management companies in Southeast Asia.
Citibank’s newest branch in Puchong has opened on 10 Aug 2006. Its telephone number is 03-58851111. It situated just next to Giant Puchong. According to the Edge, they will have two new branches located in Jalan Batu Tiga Lama in Kampung Bukit Kuda and Damansara Perdana.
Right now they are having a promotion for their Time Deposit. The rate is 3.70% for 3 months.
Citibank Bhd will focus on small and medium enterprises (SMEs) to further grow its business, said Citigroup country officer and Citibank chief executive officer Piyush Gupta.
“SMEs, which form the economic backbone of Malaysia, have been identified as Citibank’s fastest growth segment in the next five years, contributing 20% to total revenue annually from the current 5%,” Gupta told a press conference after the opening of its latest branch here yesterday.
Occupying 10,747 sq ft, the Puchong branch has 35 employees.
