Posts Tagged ‘UOB Bank’


Quick Bite: UOB Back in Stock

Here is a quick one. I previously blogged about UOB running out of stock for their gold bullion product. UOB is finally out from the Gold Bullion dry spell. They have now replenished their bullion silo with the new 2012 Australian Kangaroo Nugget. Only Australian Kangaroo are available though. I confirmed this as I have paid Jalan Raja Laut’s UOB a visit last Friday. Get it while it lasts!

On another end, a Maybank representative updated me that Kijang Emas will only be in stock from next year onwards.


UOB: Sorry, Gold Coins are Out of Stock

I went to UOB at Jalan Raja Laut around lunch time today to do my regular Ounce Cost Averaging on Gold. I usually buy gold bullion at beginning of the month. I took my queue ticket and patiently waited for my turn.

When my turn was up, I walked to the counter and said to the banker, “I would like to buy gold bullion coin”.

I got a shocking reply.

“Sorry, all gold bullion coins are out of stock.”

Out of Stock!
^ Screen captured from UOB website at 5pm today

I was like, “What?”

“Yes. Out of stock.”

“When is the next batch of stock coming in?”

“No idea. But we have ordered since a month back.”


Maybank: Discontinuation of Physical Gold Wafers

Maybank gold saving account

Maybank no longer backs its paper gold with physical gold. They may say they does. You will never know.

Dear Valued Customer,

With effect from 16 May 2011, Gold Savings Passbook Account (GSPA) has been renamed as Maybank Gold Investment Account (MGIA). In line with MGIA’s enhanced features, existing GSPA accountholders who wish to withdraw from their account in a form of gold wafer may do so, subject to availability as per Clause 16.2 of the GSPA Agreement with a premium charge applicable. Accountholders have until 2 September 2011 to withdraw in the form of wafers, after which the available options of payment will only be in the form of cash or credit into their accounts.

For GSPA accountholders who are holding Maybank gold wafers, you may convert the gold wafers to cash or credit them to your account at the prevailing market price at selected Maybank branches from now till 2 September 2011. The selected Maybank branches are listed below:

Kuala Lumpur Main Penang Main Kuantan Main
Bukit Bintang Alor Star Main Seremban
Kota Bahru Main Malacca Main Shah Alam
Tawau Ipoh Main Wisma Satok
Kota Kinabalu Lahad Datu

Should you still wish to have the option of retaining the gold in physical form, we would suggest that you opt to purchase the Kijang Emas gold coin issued by Bank Negara Malaysia which is available at selected Maybank branches.

Thank you.

Those who invested in Gold Savings Passbook Account (GSPA) will have until 2nd of September to withdraw their physical gold wafers. Thereafter, your gold investment will in paper format – a passbook.

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