Issue link: https://maltatoday.uberflip.com/i/1091272
16 maltatoday | SUNDAY • 10 MARCH 2019 COMMERCIAL 'Brexit: How will it affect Malta?' discussed during the APS Talks FOLLOWING the success of the first two APS Talks, the third event titled "Brexit: How will it affect Malta?" was organised recently. The series of talks sees experts sharing their knowledge and experience in a range of areas with a public audience. The presenter was Josef Portelli, Head of Invest- ment Management at APS Bank who recently returned to Malta after 13 years in London in successively senior positions with Investment and Asset Management companies. Portelli commented that, "The lec- ture offered the general public the opportunity to obtain insight into the future trajectory of the UK's relation- ship with the EU and the impact that it could have on Malta and its econ- omy. I was pleased that the audience was very engaging, especially during the lively debate which followed the talk, enrichening the experience of everyone involved." AS announced by the Minister for Finance in the last Budget and following the strong de- mand for the 62+ Malta Gov- ernment Savings Bond (MGSB) registered in the past two issu- ances held in 2017 and 2018, the Government is launching another issue of the market- leading 62+ Savings Bond. The bond is being offered for all individuals born in 1957 or be- fore. The Bond will provide the cer- tainty and comfort of a good re- turn for a substantial number of older hard-working savers over the life of their investment. It offers an attractive rate higher than that offered by the market. The Bond targets individuals born in the year 1957 or before, mainly made up of persons who depend on a retirement pension and income from past savings (investments) who have saved all their lives. The persistent low interest rate environment continued to affect negatively the pensioners who are experi- encing a substantial decrease in their additional income derived from past savings. This was the main reason behind govern- ment's decision taken in last October's Budget to re-issue the 62+ Malta Government Savings Bond for the third con- secutive year. The 62+ Malta Government Savings Bond which has been launched a few days ago is to be construed as a separate issue from the previous ones held in 2017 and 2018, even though the terms and conditions are simi- lar to each other. In this regard, an eligible individual can apply for up to €10,000 in this year's issue on top of his/her existing holdings of the 62+ Malta Gov- ernment Savings Bond acquired in the past two years. The interest rate shall be 3% per annum fixed for five (5) years which is significantly higher than any others cur- rently offered in the market. Every eligible individual may invest a minimum sum of €500 up to a maximum of €10,000. The investment shall be fixed for five years and shall not be negotiable on the Malta Stock Exchange and cannot be trans- ferred to any other individual. The bond is intended to be held to maturity, that is, until the year 2024. Yet an individual can encash the full amount in- vested before its maturity date, subject to a penalty equivalent to three months' interest, if the need arises. No penalty will be incurred for early redemption via transmission Causa Mortis. Preference will be given to new eligible applicants made up of (i) individuals born in 1957 and (ii) individuals born before 1957 who were eligible to apply in last years' issuances but did not participate for any reason whatsoever. After the bonds are allotted to these new ap- plicants, the remaining amount available for allocation will be allocated among the existing holders of the 62+ Malta Gov- ernment Savings in accordance with the discretion of the Ac- countant General. The interest on this bond shall be paid semi-annually in ar- rears on the 20th March and 20th September of each year during the tenor of the Bond (unless it is encashed before). The resident eligible individual investing in the 62+ Malta Gov- ernment Savings Bond – Issue 2019 can opt to receive the in- terest net of tax (FWT) or gross and declare the gross invest- ment income in the income tax return. Applications for the 62+ Mal- ta Government Bond – Issue 2019 shall open at 8.30am on Wednesday, 13th March 2019 and close the next day at 5pm on Thursday, 14th March 2019, or earlier at the discretion of the Accountant General. New applicants will be required to apply on application form 'A' which can be downloaded from Treasury's website or obtained from and lodged at any finan- cial institution or authorised investment service provider. Existing holders of the 62+ MGSB who are interested to subscribe in this Bond must complete application form 'B' (sent by post) and submit it at one of the financial institutions or authorised investment ser- vice provider. Further information can be obtained from the Prospectus, which can be downloaded from the Treasury Department's website at www.treasury.gov. mt or by phone on 2596-7125. New issuance of the 62+ Malta Government Savings Bond – 2019 MAPFRE MSV Life has pledged its support to Cari- tas Malta for the forthcom- ing three years as a result of a Support Agreement that was signed today. The financial as- sistance that will be provided by MAPFRE MSV Life will be specifically directed towards the Caritas Malta Female Pro- ject at the San Blas Therapeu- tic Community. The Female Programme opened in 2008 and since then it has made services to women more easily accessible and readily avail- able to those in need. The three year support agreement was signed by Da- vid G Curmi, Chief Executive Officer of MAPRE MSV Life and Anthony Gatt, Direc- tor of Caritas Malta. Also present was Anglu Fenech, Administrative Secretary of Caritas Malta. MAPFRE MSV Life CEO, David G Curmi said that MAPFRE MSV Life, as the leading Life Insurance com- pany in Malta, has been a long standing supporter of the initiatives of Caritas Malta. Caritas Malta Director, Anthony Gatt, expressed his heartfelt appreciation for the support that MAPFRE MSV Life has been giving Caritas along the years. He noted that this donation will con- tribute directly to the Fe- male Programme at San Blas Therapeutic Community. MAPFRE MSV Life to support Caritas female programme for the next three years David G Curmi (left) with Anthony Gatt