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Retire in style

July 9, 2008

My retirement savings post has sparked some queries and I have been receiving e-mails asking about investment and such to which I have tried to reply as honest as I can. I am no qualified, financial planner, just your ordinary Bruneian.

I hope the text below would help you think about BICB. Its Financial Wealth Planner, Adi, has kindly share the following info, which, sorry guys, he said is actually extracted from Ranoadidias.com. I will update this as soon as I receive fresh information when I meet him. Thanks again Adi.

Many of you may not be aware of BICB Capital’s presence in Brunei. BICB Capital stands for Brunei Investment Commercial Bank Capital which is a subsidiary of BICB, wholly owned by Brunei Investment Agency.

Fa’aizah Dato Abidin, the Managing Director of BICB Capital said Brunei is lacking in Syariah-compliant products (in investment stocks) and that’s where BICB Capital comes in. Their company can act as a distribution arm to access the global fund managers (all Syariah compliant) who manage mutual fund products. The other advantage is the “open-end” concept where you can buy, invest and sell anytime.

They also can act as financial planners to those interested in investment stocks to assess the risks and as Fa’aizah said, it’s the “risk appetite” of the individual. Many Bruneians are uncomfortable with taking risks. Of course, risk factor is always there and Fa’aizah pointed out that by diversification (by investing in different portfolio of stocks) rather than investing in the same stock. The entry of the investment starts at BND $1000 [I will check if this is still valid] which is a pretty good entry level.

So, there you go. For more info, e-mail them at: enquiries@bicbcapital.com.bn or call them at: 223 3066 OR visit them (make sure you make an appointment first) at their office in busy Kiulap. Office hours is: Monday to Saturday; 9am to 4pm.

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