Author Topic: EPF  (Read 30229 times)

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« Reply #100 on: February 21, 2017, 06:57:10 AM »

No defaults in the RM219.3b loans given out: EPF
Posted on 21 February 2017 - 05:39am
Lee Weng Khuen
KUALA LUMPUR: The Employees Provident Fund (EPF) yesterday assured members that the RM219.3 billion loans it has extended to corporations and government agencies are being well serviced and none are in default.

The loan exposure accounts for 30% of the pension fund’s total assets under management (AUM) of RM731.1 billion as at end-December, 2016.

“If you look at our exposure to the government and government credit, it is roughly 30% of our AUM, that is a mixture of MGS (Malaysian government securities), GIIs (government investment issues), government guaranteed papers, loans to government and government agencies, none of that has gone into default. We’re very comfortable with our exposure,” said CEO Datuk Shahril Ridza Ridzuan.

He also noted that the EPF will only extend loans to corporations with “AA” ratings. Shahril declined to reveal the quantum of loans which are guaranteed by the government and those not guaranteed.

Earlier, the pension fund confirmed that the RM6.5 billion loan taken by Felda Global Ventures Holdings Bhd’s (FGV) holding company Felda Holdings Bhd is not in default and it continues to service the loan.

Meanwhile, commenting on the EPF’s investment losses in (FGV), Shahril said it was business as usual for its stake in FGV.

“We’ve been selling down FGV for a very long time, and we’ve been trading the stock as well. When it was low, we bought back in and sold later. If you look at 2016, there was hardly any impairment for FGV,” he added.

The EPF was reported to have lost about RM575.8 million from divesting its shares in FGV. It ceased to be the plantation giant’s shareholder in December 2016.

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« Reply #101 on: February 21, 2017, 07:06:02 AM »

财经  2017年02月20日
EPFPNB基石投资者 认购绿盛世国际5.61%

(吉隆坡20日讯)配合首次公开售股(IPO)计划于今年4月初上市的绿盛世国际(EWI),今日与国內两大机构投资者——僱员公积金局(EPF)及国民投资机构(PNB),签署基石投资协议(Cornerstone Placement Agreement),后者將合计认购绿盛世国际5.61%股权。











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« Reply #102 on: February 23, 2017, 06:53:34 AM »

Malaysians Must Know the TRUTH


Malaysia’s Employees’ Provident Fund has stated:
(Chairman) Tan Sri Samsudin said, “The FTSE Bursa Malaysia KLCI, which has almost 33 per cent exposure to the banking sector, yielded negative return for the third consecutive year, closing the year with -3.00 per cent in return. This affected valuations of listed assets held by the EPF as more than 70 per cent of our total investment asset is invested domestically. On the global front, the crude oil prices tumbled to as low as USD30 per barrel, affecting the valuation of oil & gas listed companies. Therefore, as a prudent retirement savings fund, it is imperative to factor in such mark-to-market losses on our income statement.”
In accordance with the Malaysian Financial Reporting Standards (MFRS 139), the EPF is required to recognise net impairment amounting to RM8.17 billion, compared with RM3.07 billion in 2015 to reflect the lower equity prices, particularly in the domestic banking sector and oil & gas sectors in both the domestic and foreign markets.
However, as this chart of the S&P Oil and Gas Production ETF shows, oil and gas stocks had a good year in 2016, compared to 2015.

(SPDR S&P Oil & Gas Exploration & Production ETF)
The SPDR S&P Oil & Gas Exploration & Production ETF tracks an equal-weighted index of companies in the US oil & gas exploration & production space.
A rough inspection of the graph above shows an upward trend in 2016,well into 2017. FOr that reason alone, the EPF’s justification for at least part of the RM 8.17 Billion write-down does not hold water.
In fact,given the roughly 100% jump in oil and gas stock valuations in 2016 that the graph suggests, the EPF ought to have registered a mark-up, not write-down,in 2016 compared to 2015.
This suggests that the actual write-down might well be in excess of RM 8.17 billion,the net figure declared having been reduced by an increase in oil and gas stock valuations.
It does appear as if the EPF is lying to cover losses from something, and that something is more than likely to be losses related to 1MDB.
Mohd. Kamal bin Abdullah at 6:01 PM

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« Reply #103 on: February 23, 2017, 06:58:49 AM »

Dispose of investments in 1MDB, Harapan leaders tell EPF
22 Feb 2017, PM 7:47 (Updated 22 Feb 2017, PM 10:07)
 epf pakatanharapan

Pakatan Harapan leaders today urged the Employees Provident Fund (EPF) to dispose of its investments in 1MDB as soon as possible.

In a joint statement signed by Parti Amanah Negara’s Dzulkefly Ahmad, PKR’s Wong Chen and DAP’s Teresa Kok, the opposition coalition claimed that the decrease in EPF’s 2016 dividend rate was due to EPF’s investment amounting to RM1.72 billion in 1MDB.

Apart from the EPF, Pakatan Harapan also urged government institutions such as Tabung Haji and Retirement Fund Inc (KWAP) to dispose their investments in state investment fund.

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The EPF, they said, was facing financial problems which would in turn affect EPF depositors.

“EPF’s investment of RM1.72 billion is a huge amount, more so since the funds are from the people’s savings,” they said

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« Reply #104 on: February 23, 2017, 09:07:01 AM »

Malaysians Must Know the TRUTH

EPF Borrows Money
This news has not been reported by Utusan Meloya, Berita Harian, NST or Star. It means the gomen has given instructions to hush things up.

Only the Chinese Press has been playing this up. Messages were flying around that the EPF was borrowing RM12 billion.

The EPF has now clarified that they are not borrowing RM12 Billion. They are only borrowing RM1.2 Billion.  (Such a small amount). Here is EPF's explanation why they are borrowing, which itself is strange. 

The news had earlier been reported in the Chinese media.

Lets analyse a little.

EPF says they want to borrow RM1.28 billion to protect against forex risks.

This does not make sense. To protect against forex risks you can buy some currency hedging. You can "lock in" a certain exchange rate  for the currency of your requirement. But you cannot lock in the exchange rate forever. They usually run for a few months.

Some bank must provide this 'lock in rate' and they will charge an arm and a leg.  And there are major risks. This was how our Bank Negara lost all those billions of Ringgits. Still have not learnt any lessons?

If the EPF wants to refinance its assets in the UK, then they should be borrowing in UK Pounds. Not Ringgits. If you borrow Ringgits to refinance Pound Sterling it does not make good sense. This is what happened in the 90s economic crisis. Local corporates borrowed in US Dollar when their earnings were in Ringgit. A bad example : TNB.

Unless the EPF is borrowing in Pounds from DBS and Stanchart Banks.

So the cat is out of the bag - refinance means the EPF borrowed to acquire those assets.

Borrowed in Ringgit or in Pounds?

Oops.  Tapi kenapa nak rahsia sangat? Duit orang lah.

Posted by Syed Akbar Ali

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« Reply #105 on: February 24, 2017, 02:16:55 PM »

Ridiculous to claim EPF in financial difficulties, says Rahman Dahlan
FMT Reporters | February 24, 2017
The Barisan Nasional strategic communications director calls statement by three opposition leaders ‘malicious’, adding that EPF has only RM200 million exposure in 1MDB.
rahmanDahlan-epfKUALA LUMPUR: The Employees Provident Fund (EPF) is not in any financial difficulty and it is malicious on the part of anyone to say so, Barisan Nasional strategic communications director Abdul Rahman Dahlan said today.
In slamming a joint statement by Parti Amanah Negara’s Dr Dzulkefly Ahmad, PKR’s Wong Chen and DAP’s Teresa Kok claiming that EPF was in financial difficulties, Rahman said, “If it was in financial difficulties or made a loss, EPF would not be paying a dividend at all – more so a healthy 5.7% dividend for 2016.”
The opposition leaders had cited the decrease in EPF’s 2016 dividend rate of 5.7% compared with the previous year’s 6.4% as an indication that EPF was in financial difficulties. They said it was due to EPF’s investment amounting to RM1.72 billion in 1MDB.
In a statement, Rahman said, “As was answered in Parliament in May 2015, EPF’s exposure to 1MDB is RM200 million – not RM1.72 billion. This investment is in the 30-year sukuk issued in the year 2009 and is fully guaranteed by the government.
He said EPF had “exposure” of RM1.5 billion in bonds for two Independent Power Producer (IPP) plants – Panglima Power Sdn Bhd (PPSB) and Jimah Energy Ventures Sdn Bhd (JEV).
These bonds, he said, were subscribed by EPF in the year 2003 and 2005 respectively, before 1MDB was founded, and that they were backed by healthy cash flow.

“As is widely known, these two IPPs were previously acquired by 1MDB but have since been sold in a deal completed in March 2016, which was part of 1MDB’s rationalisation exercise. Hence, these two bonds are no longer associated with 1MDB.
“All three bonds are fixed income bonds that pay fixed coupons and have never been in default. EPF has not lost a single sen in them.”
Rahman noted that the EPF’s remaining RM200 million exposure to 1MDB’s government-guaranteed sukuk was just 0.027 % of EPF’s total assets of RM731 billion.
“Therefore, for the three opposition leaders to claim that EPF is in financial difficulties or that 1MDB had caused losses to EPF is wrong and malicious.
“As current or former members of Parliament, the three opposition leaders have failed in their sworn duties to be honest to the people when they made such ridiculous claims in their joint statement. They must not repeat this in future.”
Rahman described as “commendable” EPF’s 5.7% dividend for 2016, given historical dividends since 2000 and the current global economic situation and the performance of other provident funds and mutual funds in the region.
“For the nine years from 2000 to 2008, EPF had recorded an average annual dividend rate of 4.99%, whereas from 2009 to 2016, this average had increased to 6.1%.
“I am confident that with the accelerating GDP growth in the previous two quarters and the recent sharp increases in the Bursa Malaysia index, God willing, EPF will perform even better for the year 2017,” he added

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« Reply #106 on: February 26, 2017, 07:20:07 AM »

Saturday, 25 February 2017 | MYT 8:57 PM
Look beyond EPF dividends when preparing for retirement


KUALA LUMPUR: Recently, the Employees Provident Fund (EPF) announced a dividend pay-out of 5.7% for 2016 – much lower than the 6.4% dividend for 2015 and 6.75% in 2014, leaving many Malaysians disappointed. 

In fact, this is the first time EPF’s dividend has fallen below the 6% mark since 2010 when a 5.8% dividend was declared.

“In light of the rising cost of living, longer life expectancy and a higher inflation rate, iMoney believes that Malaysians should be taking a more active role in ensuring they have sufficient funds for their retirement.

"It is not enough to just rely on EPF’s yearly dividend pay-outs,” said Lee Ching Wei, CEO and co-founder of iMoney.


Is the new quantum enough to sustain you through retirement?

Based on a recent EPF study, 50% of retirees exhaust their funds within five years of retirement.   

The harsh reality is that Malaysians spend 31.2% of their disposable income on food and food away from home, 23.9% on petrol, housing utilities and 14.6% on transport.
Enter, EPF-approved unit trusts

One way for Malaysians to boost their chances of retirement survival is to grow their EPF contributions at a quicker rate. EPF contributors can invest a portion of their Account 1 savings into approved unit trust funds.

The scheme provides members with an option to enhance their retirement savings by placing a portion of their EPF savings in Account 1 to be invested in unit trusts or through private mandate managed by appointed Fund Managers Institutions (FMI) under the EPF Members Investment Scheme (EPF-MIS).

However, contributors will need to have higher savings in their EPF accounts to participate in the EPF-MIS.

These funds need to achieve a three-year simple average consistent return rating of 2.00, sourced from mutual and hedge fund analytics provider Lipper, which has a scale of 1 to 5.

To invest or not to invest – that is the question

“While there are obvious risks and fees that come with investing in unit trusts, contributors may risk not building enough of a nest egg to fund your golden years. Do you want to rely on EPF dividends or make a portion of the savings “work harder” through unit trust funds?,” added Lee.

The rule of thumb for investing is to start as early as possible, and this also applies to EPF-approved unit trust funds. Unit trust investments are known for their long-term value; usually up to five years or longer.

iMoney encourages EPF members to familiarise themselves with the track record of appointed fund managers before making their decisions and keep track of their EPF contributions and growth.

Obtaining the latest statement can be done online through i-Akaun at myEPF website. Alternatively, members can obtain their statement via EPF kiosks or visit any EPF branches. 

How EPF-approved unit trusts works:

• Effective January 1, 2017, members are allowed to invest up to 30% of excess savings, compared to the previous 20% limit.

• Use the basic savings guide to determine the amount permitted to be transferred for investment under the scheme.

• Members must also be below 55 years old at date of application.

• The minimum amount of investment under the unit trust mandate is RM1,000 while for the private mandate, it may require a larger sum of money.

• Once members fulfil eligibility, they can choose their desired funds. Of the 336 funds listed under the scheme, 220 funds are qualified to be offered for period 2015/2016.

• Members are not allowed to withdraw any amount from the money invested through the FMI.

• EPF will release its control on the invested amount by the FMI when a member reaches age 55 or has made full withdrawal under leaving the country, incapacitation, pensionable employees and death withdrawals.

• Claims or resale of the invested units will be managed by the member or next-of-kin directly with the FMI.

For more details, click on


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« Reply #107 on: February 26, 2017, 07:54:26 PM »

2017-02-26 19:19








DUKE下金蛋 林刚河公司大赚6倍















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« Reply #108 on: February 27, 2017, 07:07:17 AM »

Saturday, 25 February 2017
Can EPF maintain its good returns?

Big-time investor: The EPF receives on a monthly basis about RM2bil from its members to be invested for their retirement needs.
Big-time investor: The EPF receives on a monthly basis about RM2bil from its members to be invested for their retirement needs.
WHEN the Employees Provident Fund (EPF) declares its annual dividend to members, the one thing that usually resonates is the chorus of grumbles.

For members, dividends of 6% plus over the past few years have set the stage for optimism, whereby expectations of high dividends are to be expected year after year.

Those in the industry, however, know just how hard it is to generate the income needed to pay members of the EPF.

“It is a commendable achievement, given the EPF’s exposure to the local market,” says a fund manager.

“The investment climate over the past few years has not been fantastic.”

For the fund managers, the return of 5.7% for 2016 was a good showing when looking at the local stock market over the past three years. In 2014, the FBM KLCI fell 5.66%. The next year, it dropped 3.90% and last year, the index lost 3%.

For the EPF and other local unit trust companies, the health of the local stock market has been a barometer of returns, especially when the EPF has invested 42% of its RM731bil in equities, much of it in the local stock market.

While there are balanced funds out there that might have performed better, fund managers acknowledge that generating close to 6% returns consistently is a tall order, given the sheer vast amounts of money that go into the EPF every month from its members.

The EPF receives on a monthly basis about RM2bil from its members to be invested for their retirement needs. Over the years, the cumulation of those deposits mean that the size of the funds the EPF has to invest will rise, and dramatically it has, making the job of ensuring high returns harder.

The EPF’s fund size grew to RM731bil at the end of last year from RM685bil at the end of 2015. That’s RM46bil more from 2015 and total members’ savings at the end of last year was RM704bil.

And of its investments, the EPF says a total of 48.58% is in fixed-income instruments and 42.33% in equities. The remaining 4.03% and 5.06% were in real estate and infrastructure, and money market instruments, respectively.

The EPF says it will continue to diversify its investment according to its strategic asset allocation, not only focusing on local equities but also across all other asset classes, both domestically and globally.

“In 2016, 56% of the EPF’s profits were contributed by coupon payments on fixed-income instruments and dividends from listed and unlisted equities,” it says in a reply to StarBizWeek.

The one benefit the EPF has is its position as a long-term investor in Bursa Malaysia. It bought a lot of equities cheap years ago and is sitting on a potential profit in the billions. Analysts say that while the EPF knows it has unbooked profits to be made, it does, however, only recognise profits and payments to dividends once it sells its shareholdings.

Analysts also point out that the need to register a profit has also meant that the EPF is active right throughout the year, trading in shares on Bursa Malaysia to capture gains instead of relying on realising paper-profit at the end of the year.

“The EPF’s trading income across all asset classes are dependent on the market cycle, of which during an upward trend, the AFS (available for sale) reserve will increase and therefore facilitate the EPF to realise more gains. Whereas during market downturns, it provides the EPF with the opportunity to rebalance its portfolio, subsequently improving the AFS reserve in the long run,” the EPF says.

The active participation of the EPF in the market has also meant that some of its shareholdings are closer to market prices than before. It is a big shareholder of banking, and oil and gas stocks and it is this group of equities that caused the fund to take a large investment valuation hit last year.

The decline in the prices of banking stocks, of which carry a 33% weight in the FBM KLCI, dragged down the performance of Bursa Malaysia and caused an impairment of RM8.17bil on its investments, compared with RM3.07bil in 2015.

A writedown can, however, be reversed should these group of stocks post an improvement in their performance this year.

Returns from abroad

One of the reasons why the EPF has been able to pay higher dividends has been its investments in equities and abroad. From an asset allocation in equities that ranged in the teens more than a decade ago, investments in equities was 42% of the fund’s investments at the end of last year.

While equities have given the pension fund the so-called fifth gear in driving returns, it also exposes a potential pitfall that the EPF is all too aware of – the domestic market.

But analysts feel the slump in Bursa Malaysia, which for the first time had three consecutive negative returns for a compounded decline of 12%, will not last.

In fact, it is believed that a better market on Bursa Malaysia will help lift the EPF’s investment income and hence its dividends, assuming all goes well in its investments abroad.

RHB Investment Bank Bhd chief economist Lim Chee Sing feels there are grounds for an earnings rebound on Bursa Malaysia this year, with key commodity prices such as crude palm oil and crude oil higher than they were last year.

He says that earnings, after being flat or contracting in the recent past, have a good chance of coming back this year, and that should drive interest in the stock market and valuations higher.

One of the big drivers of returns has been the performance of investments overseas. With the EPF now close to investing 30% of its money in markets outside Malaysia, the returns from such investments have outpaced that of domestic equities.

In 2014, the return on investment (ROI) from its foreign sources was 10.45% compared with 6.34% from Malaysia. In 2015, it was 12.84% versus 5.74%, and last year it was 9.73% against 6.18%.

Analysts say one reason for the better returns could have come from stronger foreign currencies compared with its ringgit investments, given that the ringgit has weakened against nearly all foreign currencies over the past two years.

“The EPF’s investment asset has been growing at an average 9.31% over the past five years. Even with the closing in on the 30% overseas exposure, the growth in the EPF’s investment asset alone will provide sufficient room for the EPF to allocate more investment overseas,” says the provident fund.

“Therefore, there will be no pressure on the fund’s dividend generation for the coming years due to the EPF not being able to invest more overseas.”

It adds that the current overseas exposure of 29% is also partly due to the drop in domestic equity prices, coupled with an increase in the valuation for foreign equities following the strengthening of major currencies against the ringgit.

One area where there is optimism for future performance will be the EPF’s investment in infrastructure assets. Its ownership of the PLUS Expressways assets in Malaysia, together with Khazanah Nasional Bhd, has been a bonanza that has seen returns beyond the EPF’s wildest dreams.

“Highway assets, which fall under real estate and infrastructure, provide the EPF with a steady stream of income while acting as a natural hedge against inflation. The EPF is always on the lookout for such assets which fit its risk-return profile as a retirement savings fund,” says the EPF.

Such returns, together with its position as a long-term investor, means it has the financial muscle and staying power most other private owners of such assets cannot afford.

Furthermore, its buoyancy over investments in real estate and infrastructure is based on fact. That group registered an ROI of 8.22% last year, only behind its equity investments.

“The EPF’s strategy, moving forward, is to increase its exposure to alternative investments, particularly real estate and infrastructure, and to diversify its investment in the equity and fixed-income portfolio across multiple sectors and regions. The EPF has also been increasing its exposure to overseas investment as a measure to reduce liquidity and concentration risk in the domestic market,” it says.

Dealing with the currency red tape

There were no restrictions or hurdles when the EPF ramped its exposure to foreign investments after the global financial crisis. In fact, the green lane towards investments abroad helped generate the kind of returns it is seeing today.

But with the ringgit battered against the US dollar and a number of currencies in major markets, the attitude it different now when it comes to making big investments abroad. The EPF says it is in constant communication with Bank Negara on how to handle its investments abroad. That’s understandable, as 30% of RM731bil is close to RM220bil worth of investments overseas.

“The EPF has been working closely with Bank Negara in terms of allocating investments overseas without significantly impacting the value of the ringgit. Bank Negara has been accommodative of the EPF’s requirements and needs to continue its overseas investments, especially for the committed investments, and we believe this coordination will continue to work well into the future,” says the EPF.

This understanding will probably extend to allowing the EPF to recycle its money kept abroad to make purchases in future investments. This means that proceeds from the sale of assets overseas will be allowed to be reinvested outside of Malaysia, an avenue that is neutral for the ringgit’s value against foreign currencies.

But the other way of getting the bang for the buck is to raise financing for foreign purchases, using the leverage to buy assets instead of paying upfront for 100% of an asset bought overseas.

The EPF says that raising financing does not mean it is short of cash. With the name it has in the international market, provident funds such as the EPF get preferential lending rates when they seek loans.

“The EPF is not looking for financing to raise funds, as it has a healthy, positive cashflow from the monthly net contribution and investment proceeds available to be invested. However, the EPF through its subsidiaries does carry out refinancing on its overseas assets in order to reduce its foreign currency exposure, which is in line with investment best practices worldwide,” explains the EPF.

“The returned capital will then be invested in better opportunities available in the market.”


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« Reply #109 on: March 14, 2017, 06:31:35 AM »

EPF money for retirement, not for paying off credit cards & Ah Long

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Employees Provident Fund (EPF) savings should be use for retirement and not to pay off credit cards or Ah Long (loan shark) debts. File pix by SADDAM YUSOFF.
By MELISSA DARLYNE CHOW - March 13, 2017 @ 9:24pm
KUALA LUMPUR: The proposal to withdraw Employees Provident Fund (EPF) savings for the purpose of paying off credit card or ‘Ah Long’ (loan shark) debts is not in line with the body's objective of providing retirement savings for its members, the Finance Ministry said.

The ministry, in a written reply, said such withdrawals will reduce savings for EPF members, hence affecting the savings for their future retirement.

“The EPF's aim is to provide retirement savings to support members when they retire.

“The permitted withdrawals are only for retirement purposes or to add value to their savings upon retiring,” it said.

The ministry said this in a written reply to P. Kasthuriraani (DAP-Batu Kawan), who had asked the Finance Minister to state the number of Malaysians who had gone bankrupt from 2010 until today.

She had also asked if the EPF allows its members to legally withdraw a small amount of money from EPF savings, according to its guidelines, to pay off burdensome credit card loans or Ah Long debts.

Meanwhile, on the number of bankrupts, the ministry, citing statistics from the Insolvency Department, said the number of those bankrupt were 18,119 (2010), rising steadily over the next four years to 19,167 (2011), 19,575 (2012), 21,987 (2013), 22,351 (2014) before seeing a drop in 2015 (18,457)

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« Reply #110 on: March 14, 2017, 10:01:36 AM »
Really good info..

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« Reply #111 on: April 03, 2017, 02:30:02 PM »

EPF lost RM203m from FGV stock investments
 fgv epf financeministry
 5 comments     Published Today 12:55 pm     Updated Today 1:05 pm

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The Employees Provident Fund (EPF) recorded a realised loss of RM203.18 million when it sold off its shares in Felda Global Ventures (FGV) last August.

The Finance Ministry, through a written parliamentary reply last Monday, however, said the EPF had made dividend income of RM105.77 million from its FGV shares.

"EPF will reduce or completely sell off its shares in companies that show continued decline in financial performance as well as weak management, after an analysis is conducted," the ministry said in explaining the fund's investment strategy...

Read more:

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« Reply #112 on: April 10, 2017, 03:37:41 PM »

Malaysians Must Know the TRUTH


As previously reported”

OSK buys Melbourne property for AUD 145 Million, promises gardens in the sky,and gets EPF to pay AUD 154 Million for 49% in a market that is expected to collapse
The further details of the deal can be found on the OSK website and include this disclosure of a AUD 175 Million loan, which is an for the EPF an exposure over and above the AUD 154 million paid over to OSK:
PJ Development Holdings Berhad (“PJD” or “the Vendor”), a subsidiary of the (OSK) has, on 5 April 2017 entered into a Share Sale Agreement (“SSA”) with Employees Provident Fund Board (“EPF” or “the Purchaser”) for the disposal of 100 ordinary shares (“Sale Shares”) representing 100% equity interest in Yarra Development Holdings (Australia) Sdn Bhd (“Yarra Holdings”), a wholly-owned subsidiary of PJD (“the Disposal”);
Yarra Holdings is the registered and beneficial owner of all the issued and paid up shares in Yarra Australia. The principal activity of Yarra Australia is to engage in investment holding.

Yarra Holdings has applied for a credit facility of up to Australian Dollar One Hundred and Seventy Five Million (AUD175,000,000.00) only (“the Facility”) and CIMB Bank Berhad, OCBC Bank (Malaysia) Berhad and RHB Bank Berhad (collectively referred to as “the Lenders”) have agreed to grant the Facility to Yarra Holdings for the sole purpose of advancing an amount not exceeding Australian Dollar One Hundred and Seventy Five Million (AUD175,000,000.00) only to Yarra Australia to enable Yarra Australia to subscribe for the New Subscription Shares
Further details can be found at link
Readers can see for themselves the type of deal OSK’s Ong Elong Huat , his OSK and their business partners have struck with the EPF and its member contributors.
WRITER:  Ganesh Sahathevan

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« Reply #113 on: April 18, 2017, 06:54:03 AM »

未滿18歲受益人不能繼承? 公積金局:權益不受影響
 1270点阅   2017年4月18日
(吉隆坡17日訊)僱員公積金局今日澄清,逝世后的公積金會員存款分配,受益人或18歲以下受益人將自動轉入公共信託有限公司(Amanah Raya Berhad)的說詞不正確。




該局指出,死者的存款分配,將以沒有受益人或繼承者程序處理,即根據伊斯蘭繼承權證書(Sijil Faraid)或分配令,必須先向公積金局呈報。



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« Reply #114 on: April 20, 2017, 04:27:30 PM »

Thursday, 20 April 2017 | MYT 3:54 PM
EPF records RM46.56bil investment income in 2016

KUALA LUMPUR: The Employees Provident Fund ended 2016 with RM46.56bil in total gross investment income, down from RM44.23bil, it recorded the previous year amid a low global growth and lackluster corporate earnings.


Chief executive officer Datuk Shahril Ridza Ridzuan said the slump in crude oil prices, a weak domestic currency, lackluster corporate earnings and large-scale withdrawal of capital from emerging market economies to developed economies and safe-safe haven currencies also impacted the fund.

EPF announced a dividend of 5.7% for 2016 versus 6.4% in 2015.

The fund, which released its annual report 2016 today, recorded a 2.68% rise in annual contributions to RM61.59bil against total annual amount withdrawn of RM46.80bil. This resulted in a net inflow of RM14.79bil.

The annual report, themed “Achieving a Better Future”, was tabled in Parliament on April 5, 2017 and revealed a 6.81% increase in total investment assets to RM731.11bil from RM684.53bil in 2015. - Bernama


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« Reply #115 on: April 20, 2017, 05:28:55 PM »

Thursday, 20 April 2017 | MYT 5:02 PM
EPF to explore natural resources as next investment target
EPF is an investor in palm oil-based companies, including Sime Darby (9.83% stake) and Felda Global Ventures Holdings Bhd. - Reuters pic
EPF is an investor in palm oil-based companies, including Sime Darby (9.83% stake) and Felda Global Ventures Holdings Bhd. - Reuters pic
KUALA LUMPUR: The Employees Provident Fund (EPF) is exploring the natural resources sector as its next investment area as it was more sustainable and able to provide long-term income, said chief executive officer Datuk Shahril Ridza Ridzuan.

He said the pension fund was one of the largest investors in palm oil-based companies.

“We are looking at the potential prospect of taking more direct exposure and also having control of the companies,” he told a press conference after announcing EPF’s Annual Report 2016 in Kuala Lumpur on Thursday. - Bernama

(Longer version of story to come)
Personal Finance , Commodities , Employees Provident Fund


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« Reply #116 on: April 21, 2017, 12:02:53 PM »

Ahmad Naqib Idris
The Edge Financial Daily

April 21, 2017 11:29 am MYT

EPF总执行长Datuk Shahril Ridza Ridzuan表示,该局正在寻求直接投资于一些天然资源领域。



















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« Reply #117 on: April 22, 2017, 08:04:59 AM »

Business NewsHome > Business > Business News
Friday, 21 April 2017
EPF reckons higher dividend

Top management: (from left) EPF deputy CEO (strategy) Tunku Alizakri Raja Muhammad Alias, Shahril, deputy CEO (operation) Datuk Mohd Naim Daruwish, and CFO Sazaliza Zainuddin at the briefing.
Top management: (from left) EPF deputy CEO (strategy) Tunku Alizakri Raja Muhammad Alias, Shahril, deputy CEO (operation) Datuk Mohd Naim Daruwish, and CFO Sazaliza Zainuddin at the briefing.
KUALA LUMPUR: The Employees Provident Fund (EPF) could break out of its two straight years of declaring lower dividends this year if Bursa Malaysia continues its uptrend movement.

In the financial year 2015 (FY15) and FY16, the EPF’s dividend had been on a declining trend after having paid out a high of 6.75% for FY14. The reason for the lower dividends was due to impairments in the value investments that the EPF had to make for the 12% decline of Bursa Malaysia over the past three years.

The EPF’s chief executive officer Datuk Shahril Ridza Ridzuan said that he was comforted that Bursa was already up by between 6% and 7% this year.

“It is already up by 6%-7% for the year, giving us some comfort that Bursa has reversed course, and hopefully, we won’t have a fourth straight year of declines on Bursa,” Shahril said at a briefing on the EPF’s 2016 annual report.

He said that while markets had done well, they were also volatile.

“There is nothing to say that things may not turn in the opposite direction, but it’s just that at this point of time, we can see clearly now that the economic recovery is slowly taking root. If the markets do well for the rest of the year, then generally, we should do well as well,” he said.

Shahril said the EPF’s portfolio showed that the biggest volatility in its holdings were from its investments in equities due to impairments, and the most stable investments were from the fixed-income and private investment segments.

“The income from rental yields, bonds and sukuk is stable. However, investments in the equities market add value to our portfolio despite the volatility. Without returns from the equities market, our total portfolio return would only be in the region of 4%,” Shahril said.

The EPF, which had declared a dividend of 5.7% for 2016, had recognised a net impairment amounting to RM8.17bil, which is more than double the RM3bil of 2015 largely due to the weaker equities market.

Shahril said the retirement fund took a conservative and strict view on impairments or writebacks.

“When the prices of equities fall below our cost, we write-down the value of these assets on our balance sheet. But when prices move up, we don’t do writebacks as we don’t allow unrealised profits to enter the profit and loss statement. It will still be on the balance sheet until we actually sell these assets,” he said.

“When prices rise, the value on our books will actually go up and will carry a higher unrealised profit on our balance sheet until we trade out our positions. It is a very conservative way.”

On its investment plans, moving forward, Shahril said the EPF has been diversifying from purely holding fixed income or equities into the real estate and infrastructure space recently.

“In areas like infrastructure in Malaysia, we do like the long-term returns of the asset. Moving forward, we would like to look into how we can have more direct exposure in the natural resources sector. We are already today one of the larger investors in palm oil production, and we are also investors in palm oil companies,” he said.

“We are looking at a potentially more direct exposure, with direct control and holdings of these assets. The global trend is also that a lot have been investing into the renewable forest space such as farmlands,” Shahril added.

He said the EPF would like to have a portfolio of very long-term assets, which can provide steady cashflow and some landed assets, given the scarcity.

“This is why we have acquired very large stakes in pieces of land before. This underpins our belief that we have assets that provide income and assets that provide an inflation hedge against future costs,” Shahril said.

He said typically, the EPF measured its returns against the inflation rate and usually paid out about 2%-3% above the inflation rate.

On its holding company Malaysia Building Society Bhd (MBSB), Shahril said the EPF supported MBSB’s strategy to eventually become a full-fledged bank.

“We get fairly high dividends from MBSB. If there is a compelling offer (to sell down our stake), then we may look at it, but it is hard to say at this point in time,” he said.

Earnings , Stocks , Markets , EPF , equity , dividend , palm oil


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« Reply #118 on: May 01, 2017, 06:25:50 AM »

2998点看 2017年4月30日







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« Reply #119 on: May 12, 2017, 06:40:36 PM »

Business NewsHome > Business > Business News
Friday, 12 May 2017 | MYT 4:18 PM
EPF outsources RM108b funds to external portfolio managers
EPF chairman Tan Sri Samsudin Osman
EPF chairman Tan Sri Samsudin Osman
KUALA LUMPUR: The Employees Provident Fund (EPF) has outsourced RM108bil as at end-December 2016 to external portfolio managers to invest in  equity and fixed income instruments.

It said on Friday the amount was 10.36% compared with RM97.86bil in 2015.

“This allocation, invested in both equity and fixed income instruments, represented approximately 14.77% of the EPF’s total investment assets,” it said.

EPF chairman Tan Sri Samsudin Osman said: “As we gear up towards becoming a trillion-ringgit fund, we will continue to outsource a portion of our funds as part of our diversification initiative, and to suitably leverage on the knowledge and skillsets of external fund managers that complement our own internal fund management capabilities.

“We will continue to increase our exposure in the markets we are investing in, especially in alternative investments and infrastructure.”

However, Samsudin said taking into account the prevailing market volatility and subdued growth, the EPF's expansion into these alternative investments and infrastructure would be gradual and prudent.

He was speaking at the EPF External Portfolio Managers Annual Awards 2017 on Thursday night.

He also pointed out that the EPF’s investment objective remains to declare no less than 2.5% nominal dividend on a yearly basis, and at least 2% real dividend on a three-year rolling basis.

The EPF also continues to pursue asset diversification in order to mitigate portfolio risks; it plans to increase exposure into alternative investments to 10% of total asset under management.

With about 45% of investment assets being shariah-compliant prior to the launching of Simpanan Shariah in 2016, the EPF now expects to grow these assets by at least RM25bil a year on average to meet the demand of its members.
Samsudin said the competition for high quality Islamic assets was not only confined to investors in the Muslim world, given their attractiveness as an alternative ethical financing tool also appeal to Western pension funds alike.

“The EPF needs more quality Islamic assets to invest in, and we welcome external managers to join us in our commitment to growing our Shariah mandate,” he said.

In line with this, the EPF has also introduced the Best Domestic Sukuk Portfolio Manager award title for the first time to reward managers who have achieved good performance in managing the EPF’s domestic sukuk portfolio, as well as to acknowledge the growing prominence of this asset class in EPF’s investment portfolio.

The 2016 EPF External Portfolio Managers Annual Awards saw 15 other awards being presented to the top performing external portfolio managers.

Earlier this year, the EPF had become a signatory to the Malaysian Code for Institutional Investors. This reflected its commitment to promoting investment best practices and strong corporate governance among its investee companies. 

Samsudin urged all portfolio managers to give full support and to use their influence as a force for good in corporate Malaysia, by ensuring that a high level of accountability and transparency is being practiced by investee companies at all times. 

The EPF’s exposure to shariah-compliant investments covering multi-asset classes currently exceeds 40% of total assets. 

As at end-December 2016, the EPF’s total investment assets stood at RM731.11bil, up 6.81% from RM684.53bil in 2015.

Earnings , Stocks , Investing


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« Reply #120 on: May 22, 2017, 03:43:59 PM »

Business NewsHome > Business > Business News
Monday, 22 May 2017 | MYT 2:25 PM
Nazir Razak steps down from EPF panel

KUALA LUMPUR: Datuk Seri Nazir Razak is leaving his post as Employees Provident Fund (EPF) panel member when his tenure ends this month.

In a recent Instagram post, the CIMB Group Holdings chairman said he had decided, after 15 years in the panel, not to be considered for renewal at the end of the tenure.

Posting a photo of himself standing with EPF chairman Tan Sri Samsudin Osman, Nazir expressed his gratitude to the rest of the panel and all EPF staff.

“After (a record) 15 years as EPF Panel member, I have decided not to be considered for renewal at the end of my tenure this month.

“It’s been such a huge honour and privilege to serve since 2002, and witness EPF assets grow from RM200bil to over RM750bil today, pay consistently good dividends, and diversify from pure Malaysian investments to almost 30% in the rest of the world,” he said in the post.

Nazir added that EPF was a world-class pension fund and a great Malaysian success story.

“So long as it continues to be led with integrity by a strong leadership team and follows its established institutional processes, EPF will continue to grow from strength to strength,” he added.

Among the comments to the post, thanking Nazir for his contributions during his tenure was a comment from group chief executive officer and founder of AirAsia Bhd Tan Sri Tony Fernandes.

“Good leadership is to know when to move on.

“Onto bigger and better things and hope the foundation you helped to build will maintain and grow. “Take a bow for all the work you have done in being part of a great organisation,” he said.
Corporate News


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« Reply #121 on: May 25, 2017, 06:37:57 PM »

EPF: 1Q17 member contributions grew 2.97%, YTD total at RM708.14b
Supriya Surendran

May 25, 2017 18:05 pm MYT
KUALA LUMPUR (May 25): The EPF said total contributions it received for the first quarter ended March 31, 2017 grew 2.97% year-on-year (y-o-y) to RM17.36 billion from RM16.86 billion, bringing its total accumulated members' contributions to RM708.14 billion.

The EPF, which stands for Employees Provident Fund, said total EPF members grew 1.54% y-o-y to 14.91 million in 1Q17 from 14.69 million, of which 6.92 million or 46.4% were active members.

It also shared that the quarter incorporated, for the first time, the number of applications approved for its Age 60 Withdrawal scheme, also known as the 'Akaun Emas'.

Implemented on Jan 1 this year, the scheme registered 46,656 withdrawals in 1Q17, of which 17,929 were approved for lump sum withdrawals, with 28,627 for flexible withdrawals, said EPF.

In a statement today, EPF chief executive officer Datuk Shahril Ridza Ridzuan said Akaun Emas was introduced as a second retirement nest egg for members working beyond age 55.

"Like the Age 55 Withdrawal, the Age 60 Withdrawal also allows members to make lump sum or flexi withdrawal, although we advise members to choose the latter as the balance of savings will continue to earn dividends," he said.

All new contributions received after age 55 will be automatically parked under Akaun Emas and can only be withdrawn when members reach age 60. There is no change to the current Age 55 Withdrawal.

Meanwhile, approved applications for Age 55 Flexible Withdrawal fell 38.61% to 55,925 in 1Q17 from 91,099 in 1Q16, while the amount withdrawn declined 27.25% to RM2.2 billion from RM3.03 billion.

Approved Age 55 Lump Sum Withdrawal also fell 18.86% y-o-y to 49,371 in 1Q17 from 60,844, though withdrawal amount fell only a marginal 1.49% to RM3.3 billion from RM3.35 billion.

Among the reasons for fund withdrawals, across age group, performing the Hajj and education saw the biggest y-o-y jump. Approved Hajj withdrawal applications tripled to 108 from 38 applications, while the number of approved applications for education withdrawals jumped 62.3% to 71,885 from 44,292.

EPF also reported that 36,707 members, accounting for RM2.67 billion in allocation, had switched from Simpanan Konvensional to Simpanan Shariah in 1Q17, thus raising the total number of members who had made the switch to 671,744 from the closing date of Simpanan Shariah 2017 on Dec 23, 2016.

Registration for Simpanan Shariah is ongoing, and members who wish to register for Simpanan Shariah beginning Jan 1, 2018 may do so until Dec 24 this year, it added.

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« Reply #122 on: May 30, 2017, 03:48:27 PM »

EPF investment income jumps 73.9pc to RM11.79b in 2017 first quarter
Tuesday May 30, 2017
02:39 PM GMT+8

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EPF CEO Datuk Shahril Ridza Ridzuan says the better performance was boosted by much improved domestic and global markets. ― Picture by Yusof Mat Isa
EPF CEO Datuk Shahril Ridza Ridzuan says the better performance was boosted by much improved domestic and global markets. ― Picture by Yusof Mat Isa
KUALA LUMPUR, May 30 — The Employees Provident Fund's (EPF) investment income jumped 73.9 per cent to RM11.79 billion in the first quarter ended March 31, 2017 (1Q17) from RM6.78 billion in the same quarter last year.

Chief Executive Officer Datuk Shahril Ridza Ridzuan said the bullish performance was boosted by the significantly improved domestic and global markets in the quarter under review.

The value of EPF investment assets increased 2.2 per cent to RM747.17 billion from December 31, 2016, involving Shariah-compliant investment worth RM352.73 billion, while the balance were conventional assets, he said in a statement today.

Of the total investment assets, equities made up 41.76 per cent with RM7.10 billion contribution, representing 60.2 per cent of total investment income for the quarter. This was 178.6 per cent higher from the RM2.55 billion recorded in the corresponding quarter last year.

The recovery in the banking sector contributed to about 30 per cent of the trading and dividend income for the portfolio during the quarter.

In addition to improvement in the domestic equity market, he said the global market also continued to provide opportunities for the EPF to realise its gains despite volatilities arising from the elections in eurozone countries, US President Donald Trump's healthcare bill, the US interest rate hike and negotiations surrounding Brexit.

“These market moving factors were alleviated by the positive economic numbers, including the revised growth forecast for major economies,” he said.

Shahril Ridza said EPF's overseas investment accounted for 29 per cent of its total investment asset and contributed 37 per cent to the total investment income in 1Q17.

Income from Malaysian Government Securities and equivalent contributed about RM1.94 billion to the total income; loans and bonds (RM2.14 billion); money market instruments (RM372.79 million); while real estates and infrastructure (RM246.27 million).

Following the commencement of Simpanan Shariah on January 1 this year, RM952.10 million out of the total gross investment income worth RM11.79 billion was generated for Simpanan Shariah, while RM10.84 billion for Simpanan Konvensional. — Bernama

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« Reply #123 on: June 01, 2017, 08:52:59 AM »

4526点看 2017年5月31日
























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« Reply #124 on: June 14, 2017, 02:11:13 PM »

主页 财经 财经新闻 逾半基金跑輸公積金 回酬至少9%才劃算
逾半基金跑輸公積金 回酬至少9%才劃算
 12244点阅   2017年6月13日



















陳文博也建議年輕人以平均成本法(Dollar Cost Averaging;也稱懶人理財術或定期定額投資法)進行投資,即定時定額進行投資,並投資在具高成長潛能及藍籌股項。




RM1000 X 5.7% = RM57

★如果提領公積金投資信托基金,該信 托基金一年后回酬率是10%,那便是

RM1000 X 10% = RM100
RM1000 X 3% = RM30
RM100 – RM30 = RM70


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« Reply #125 on: June 15, 2017, 06:09:36 PM »

The Star Online


Business NewsHome > Business > Business News
Thursday, 15 June 2017 | MYT 2:50 PM
EPF warns members of false messages, scams

KUALA LUMPUR: The Employees Provident Fund (EPF) has warned members of false messages and scams which have been circulating via the social media, short messaging service (SMS) and WhatsApp application.

In a statement on Thursday, EPF said it had identified a false SMS message sent to members, claiming their EPF accounts would be blocked within 24 hours, unless they contacted a given mobile phone number. 

"Official messages from the EPF will display a five-digit shortcode as sender identification (ID), and the messages will not be sent to members from a personal mobile number," the pension fund said.

EPF said there were syndicates or agents that had been actively promoting their services via social media, offering assistance to members wishing to withdraw their EPF savings in return for a fee.

It said there had been cases involving submission of falsified documents to facilitate the approval of withdrawals by these agents.

"EPF does not appoint or endorse any third party to facilitate members' application for withdrawals.

"Members who are eligible to make withdrawals from their accounts can deal directly with EPF free of charge," it said. 

EPF has urged members to be cautious upon receiving any messages related to the EPF and not be misled by such false messages, and to refrain from calling the number on the SMS/WhatsApp or dealing with the sender of the false message.

For clarification or further information, members may call the EPF Contact Management Centre at 03-89226000 or visit any EPF counters nationwide.

Members may also refer to EPF's responses to false information at this link: - Bernama



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« Reply #126 on: July 26, 2017, 02:07:09 PM »

Wednesday, 26 July 2017
EPF defends its move to exit troubled companies

Sharing insights: (from left) Moderator and CNBC Asia’s Sri Jegarajah together with Shahril Ridza, Wan Kamaruzaman, Abdul Rahman and Khazanah Nasional Bhd executive director and strategy head Ahmad Zulqarnain at the conference
Sharing insights: (from left) Moderator and CNBC Asia’s Sri Jegarajah together with Shahril Ridza, Wan Kamaruzaman, Abdul Rahman and Khazanah Nasional Bhd executive director and strategy head Ahmad Zulqarnain at the conference
KUALA LUMPUR: While institutional investors are often criticised for “taking the easy way out” when they exit troubled companies, it is sometimes wiser to leave when the investee company refuses to make changes, said the Employees Provident Fund (EPF).

Speaking at the Invest Malaysia 2017 conference, EPF CEO Datuk Shahril Ridza Ridzuan gave the example of its decision to exit Malaysia Airlines.

“For example, one of the first things we did when we came in was we dumped Malaysia Airlines as we believed it was going to go bankrupt.

“Of course, FGV (Felda Global Ventures Holdings Bhd) was another case – we thought it would be difficult for the company to turn around under its current leadership,” he said.

He said this in response to a question on whether institutional investors often “ran away” from troubled firms by divesting their stakes in public-listed companies (PLCs), instead of staying on and instituting changes in these companies.

The EPF had gradually sold its stake in FGV and declared early this year that it no longer has any interest in the company.

Asked if EPF would revisit FGV as an investment, Shahril said that “as we are not involved anymore, we don’t look at it.”

“We are a long-term investor but ultimately, we are a portfolio investor. Given the size of the EPF, and the fact that we hold stakes in so many companies, it is frankly a difficult and onerous task to spend so much management bandwith to try and change companies when they refuse to change,” he said.

Shahril added that it spent a lot of time communicating with its investee companies on issues of governance but in some cases, it took the view that “things are not going to change”.

“Academically, we talk about how institutional shareholders can put pressure and force some change but at some point, institutional investors have to decide to cut their losses and put their money to better use elsewhere.

“There is a limit to what an institutional shareholder can do if we don’t have direct control over the management,” he said.

Retirement Fund Inc (KWAP) chief executive officer Datuk Wan Kamaruzaman Wan Ahmad, who was also a panelist at the session, said the fund had often stayed on in troubled companies as it was “stuck” due to liquidity issues.

“It is not by choice but due to circumstances, for example, the latest is obviously FGV. Some have managed to divest their stakes and some have not been able to.

“Some thought it was at a low level and collected more shares and ended up in a bigger problem,” he said.

However, he said it had ultimately decided to stay on in the company as it felt that there was light at the end of the tunnel.

“It is a GLC and there is a lot of support from the government – they will not let it fail because it will affect a large group of stakeholders,” he said.

He added that as a portfolio investor, KWAP did not take any controlling interest in companies, keeping its stakes at a maximum of 20%.

“We do not get involved in the day-to-day running of the company and we do not have board directorships. It is much easier to stay focused this way,” he said.

Permodalan Nasional Bhd (PNB) president and group CEO Datuk Abdul Rahman Ahmad said the difficulty faced by institutional shareholders was whether it was able to effect change.

“I think Malaysia is a bit unique in this sense, because there are not that many companies here that are truly institutionalised – there is usually an owner.

“As an institutional investor, we have to make a judgement on whether we are able to influence the controlling shareholder or the management team chosen by this shareholder, to change,” he said.

Otherwise, he said, it was only fair for the institutional investor to exit.

Stocks , Earnings , institutional investors epf kwap pnb


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« Reply #127 on: August 01, 2017, 08:51:49 AM »

 17 2 1 20
Putrajaya’s rising debt is scary, says Wong Chen
Robin Augustin | August 1, 2017
The Kelana Jaya MP notes that the borrowings are partly funded by EPF.

PETALING JAYA: How much more can the government borrow before it hits the wall?
That was the question Kelana Jaya MP Wong Chen raised when FMT asked for his comments on the latest auditor-general’s report.
He noted that the report showed Putrajaya had been spending more money than it had been collecting.
Wong, who heads PKR’s commerce and investment bureau, said the gradual increase in Malaysia’s debt over the last five years showed that the government had poor fiscal discipline. This had in fact been true for the last 18 years, he added.
The auditor-general’s report revealed that the federal government’s debts had now grown to RM648.475 billion from RM501.617 billion in 2012.

In the last two years, it said, there was an increase of RM18 billion in total debt, up 2.8% from RM630.54 billion in 2015.
It attributed the debt growth to an increase of RM15.759 billion in domestic debt and RM2.176 billion in foreign debt last year.
In 2015, spending stood at RM24.283 billion. This increased to RM26.48 billion in 2016.
The report said the government had borrowed close to RM100 billion for development expenditure and to settle debts previously incurred.
Wong said the “scariest thing” was that most of these debts were funded by the Employees Provident Fund (EPF) savings as a result of the pension fund’s purchase of government bonds as a debt instrument.
According to a report in The Edge in April last year, EPF invested RM167 billion in federal government securities, representing 23.8% of its total investments.
Wong said the government would be putting EPF money to risk if it continued to rule with “no fiscal discipline, unabated corruption and the continuance of wastage”.
“These debts need to be repaid and the interest alone costs us an incredible RM27 billion a year,” he said.

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« Reply #128 on: August 02, 2017, 02:28:19 PM »

EPF calls for higher government contribution in retirement scheme
Emir Zainul

August 02, 2017 13:26 pm MYT
KUALA LUMPUR (Aug 2): The Employees' Provident Fund (EPF) is calling for the government to increase its contribution in the 1Malaysia Retirement Savings Scheme (Skim Simpanan Persaraan 1Malaysia, SSP1M) to cater to the increasing growth of labour in the 'gig economy'.

"We want the government to increase that amount (of contribution) to incentivise people to subscribe to the scheme," EPF chairman Tan Sri Samsudin Osman told reporters in a press briefing for the International Social Security Conference 2017 here today. 

SSP1M is a government initiative to ensure self-employed individuals without fixed monthly income have a savings plan upon reaching retirement age.

Currently, the government is contributing 10% with a maximum amount of RM120 per year to members of the scheme, on top of the scheme's yearly dividend.   

According to Samsudin, the growth of the gig economy, also known as the informal sector, has increased by 31% this year, outpacing the workforce in traditional jobs.

"As the gig economy is rising at a faster pace than the traditional job market, individuals who seize work opportunities in the gig economy are often, inadvertently, left out from social security coverage," Samsudin said. 

EPF Deputy Chief Executive Officer (Strategy Division) Tunku Alizakri Raja Muhammad Alias said since there is no formal protection system for the self-employed who falls under the gig economy, there is a growing concern for a savings plan for when they retire.

"EPF sees the exponential growth in the gig economy. That's why we need to make sure that people understand the importance of retirement and how to prepare as early as possible. So financial literacy is a key sector," Alizakri said. 

"A lot of people are making a lot of money in the gig economy for now, but the thing is if they don't understand that they need to also save for the future, then they will be in trouble when retirement comes," he added. 

Consequently, Alizakri mentioned EPF is taking on a larger advisory role to its members. He noted EPF has taken the first step by introducing its retirement advisory service since last year, claiming Malaysia is the second country in the world to introduce this service.

"Our employees are now certified to be able to give advice to our members on how to prepare for their retirement in the future.

"So the sort of products and services that you'll see EPF introduce in the next few years will be catered towards more of the changing lifestyle," Alizakri added.

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« Reply #129 on: August 03, 2017, 04:35:04 PM »

 0 1 0 1
Will government now use EPF funds to help 1MDB, Amanah asks
FMT Reporters | August 3, 2017
Amanah strategy director Dr Dzulkefly Ahmad says no one has a clue as to what 1MDB’s default really means to Malaysia and the ringgit.
Dzulkefly-Ahmad-1mdb-epf-kwsp-1KUALA LUMPUR: Now that 1MDB has defaulted on paying money it owes to Abu Dhabi-based International Petroleum Investment Company (IPIC), Amanah wants to know if the government will dip into the coffers of Petronas or the Employees Provident Fund.
Amanah strategy director Dr Dzulkefly Ahmad said in a statement it was not unlikely that 1MDB and the ministry of finance would be unable to come up with the money in the extra five days given to it by IPIC to do so.
IPIC had said it had not received payments of US$602.72 million and US$26.02 million that were due to be paid under a consent award and its settlement of a debts problem with the ministry of finance and 1MDB. The money was to have been paid by July 31.
On Tuesday, 1MDB said it had written to IPIC to say that the money would be paid in August.

Dzulkefly said it seemed that the government was frantic, noting that all the “rationalisation programmes” 1MDB had talked about also appeared to be incapable of preventing it from defaulting.
“Now it is known to the entire world that 1MDB is unable to pay and were graciously given an extension until Aug 5. My guess is 1MDB and even the ministry of finance will still default.
“No one has a clue as to what this default really means to Malaysia and the Malaysian ringgit? Will (Prime Minister) Najib Razak now do the obvious and resort to Petronas’ coffers or EPF’s savings?”
He said “hot on the heels of the bad news of Dalian Wanda’s inability to be the master developer for Bandar Malaysia, this default is surely adding salt to injury”.
He also said legal proceedings in a French court over alleged corruption in Malaysia’s purchase of the Scorpene submarine and the indictment of Razak Baginda, Najib’s one-time political analyst, could not have come at a worse time.

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« Reply #130 on: August 04, 2017, 07:02:20 AM »


EPF has no plans yet to invest in Bandar Malaysia project
Published: August 3, 2017 07:26 PM GMT+8


 EPF CEO Datuk Shahril Ridza Ridzuan said EPF has yet to decide whether to invest in the Bandar Malaysia project. — Picture by Yusof Mat Isa
EPF CEO Datuk Shahril Ridza Ridzuan said EPF has yet to decide whether to invest in the Bandar Malaysia project. — Picture by Yusof Mat Isa
KUALA LUMPUR, Aug 3 — The Employees Provident Fund (EPF) has yet to decide whether to invest in the Bandar Malaysia project, said its Chief Executive Officer, Datuk Shahril Ridza Ridzuan.

“No one has approached us yet, and we have not seen any plans for the development thus far,” he told reporters after delivering his closing remarks at the International Social Security Conference 2017 here today.

Shahril was asked whether the retirement fund was open for any joint-venture partnership on the mega property development project.

Meanwhile, Shahril said EPF would continue to invest in local infrastructure projects as they came under its core investment segment.

“We have always been the biggest supporter of the government’s spending for infrastructure projects,” he said, adding that the retirement fund was the single largest lender for infrastructure projects such as power plants, highways and the Mass Rapid Transit. — Bernama

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« Reply #131 on: September 13, 2017, 02:25:53 PM »

EPF, Khazanah to boost US investments
Updated about 3 hours ago · Published on 13 Sep 2017 11:20AM · 0 comments
EPF, Khazanah to boost US investments
Malaysia Airlines Bhd will buy eight 787 Dreamliners from Boeing and inked the deal as part of the prime minister’s visit to the US. – EPA pic, September 13, 2017.

THE Employees Provident Fund (EPF) and Khazanah Nasional Bhd plan to expand their investments in the United States and purchase more Boeing jets to help strengthen the American economy, Prime Minister Najib Razak said in Washington today.

The EPF alone is expected to invest between US$3 billion (RM12.6 billion) and US$4 billion (RM16.8 billion).

“I want to say that we came here with a strong value proposition to put on the table. We want to help you strengthen the US economy,  ” Najib said at his delegation meeting with US President Donald Trump.

Najib, who is also finance minister, said the Malaysian delegation had three specific proposals.

First, he said Malaysia intended to increase the number of Boeing planes to be purchased by Malaysia Airlines Bhd (MAB), “we are committed to 25 planes of 737-MAX 10, eight 787 Dreamliners and there is strong probability, not possibility, that we will add 24 (or) 25 more 737-MAX 10 in the near future”.

In five years, with the additional purchase, the deal will be worth beyond US$10 billion, he said.

The 737 MAX 10 will be the airline’s most profitable single-aisle airplane, offering the lowest seat costs ever while the 787 Dreamliner is a long-haul, mid-size wide-body, twin-engine jet airliner.

Later, the prime minister witnessed the signing of a memorandum of understanding between Malaysia Airlines and Boeing Aircraft Corporation for the purchase of aircraft and the setting up a maintenance, repair and overhaul facility in Sepang, totalling US$3.9 billion.

The discussion with Trump was the highlight of Najib’s three-day visit to the US.

Najib said the government would also try to persuade low-cost carrier, AirAsia Bhd, to purchase US-made General Electric engines.

“Second, we have the EPF, which is major pension fund in Malaysia. They have got big sums of capital to be exported, they have invested close to US$7 billion in terms of equity in the US and they intend to invest an additional US$3 billion to US$4 billion to support your infrastructure redevelopment,” said Najib.

Khazanah Nasional, which has an office in the Silicon Valley, California, has also invested about US$400 million in high-tech companies and intends to increase its investments. – Bernama, September 13, 2017.

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« Reply #132 on: September 14, 2017, 07:00:27 AM »

All foreign investments subjected to stringent risk assessment, says EPF
Updated about 10 hours ago · Published on 13 Sep 2017 8:48PM · 1 comments
All foreign investments subjected to stringent risk assessment, says EPF
The Employees Provident Fund says every investment proposal goes through a stringent risk assessment and robust due diligence process to protect the interests of its 14 million members. – AFP pic, September 13, 2017.

ALL foreign investment opportunities are analysed to ensure the risk-return tradeoff fits the requirements of a retirement savings fund, the Employees Provident Fund (EPF) said today.

This came following yesterday’s announcement that the EPF will invest an additional US$3 billion (RM12.6 billion) to US$4 billion on infrastructure redevelopment in the United States. Prime Minister Najib Razak made the announcement at a meeting with US President Donald Trump at the White House.

“We have the Employees Provident Fund, which is a major pension fund in Malaysia. They’ve got quite a big sum of capital to be exported. They have invested close to US$7 billion, in terms of equity, in the United States.

“And they intend to invest three to four additional billion dollars to support your infrastructure redevelopment in the United States,” Najib told Trump at the meeting.

In a statement this evening, the EPF said it scrutinises foreign investment opportunities before making an investment decision, in line with its long term overseas diversification programme.

“The US is one of the key markets within the EPF’s investment universe given its size and depth,” the EPF said.

EPF said its overseas investment accounted for 29% of its total investment assets and contributed 37% to the total investment income as of the first quarter of 2017.

“As a retirement fund, the EPF ensures that every investment proposal goes through a stringent risk assessment and robust due diligence process to protect the interests of its 14 million members,” the savings fund added.

Opposition leaders, however, questioned why Malaysia was intent on helping the US economy when Malaysians faced rising living costs with fewer foreign investments.

Selangor Menteri Besar Mohamed Azmin Ali expressed shock over Najib's announcement, adding that money held by the EPF was money held in trust for the rakyat and could not be used indiscriminately. – September 13, 2017.

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« Reply #133 on: September 15, 2017, 03:10:59 PM »

Rafizi: Najib's EPF investment in US breaches his own ministry's rules

 rafiziramli najibrazak epf
 6 comments     Published Today 2:22 pm     Updated Today 2:27 pm

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PKR vice-president Rafizi Ramli says that Prime Minister Najib Abdul Razak's announcement that the Employees’ Provident Fund (EPF) would increase its US investments, goes against his own ministry's limitations.

“What he (Najib) does not realise is that his announcement goes against the rules set by the Finance Ministry, which limits EPF’s foreign investment to only 30 percent of its total investments,” said Rafizi in a statement today.

He said according to EPF’s chief executive officer (CEO) Shahril Ridza Ridzuan in a Feb 2017 interview, EPF has nearly reached its maximum limit of 30 percent foreign investment.

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« Reply #134 on: September 17, 2017, 08:22:26 AM »


经济学者指投资美国 助增公积金局收益
国內 最后更新 2017年09月16日 21时48分
经济学者指投资美国 助增公积金局收益






EPF次季投资收入115亿 股票投资贡献53%
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阿布沙希有意收购 公积金局:不卖PLUS
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公积金局会员7月21日起 更易申请存款缴教育贷款
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« Reply #135 on: September 20, 2017, 02:01:02 PM »

EPF warned against letting go its stake in PLUS
Bernama | September 20, 2017
They say some 14.5 million EPF contributors have enjoyed good returns from the highway operator.

KUALA LUMPUR: Some 14.5 million contributors to the Employees Provident Fund (EPF) may lose out on a steady stream of dividend income if the pension fund sells its 49% stake in highway operator PLUS Malaysia Bhd, analysts say.
These concerns come amid reports that entrepreneur Abu Sahid Mohamad is eyeing to take over PLUS through his flagship Maju Holdings Sdn Bhd.
Besides EPF’s 49% equity in PLUS, the majority 51% shareholding is held by UEM Group Bhd, a wholly-owned subsidiary of Khazanah Nasional Bhd.
Analysts say the proposal should be rejected as both the pension fund and the government’s investment arm have enjoyed good returns from PLUS since end-2011.

They also said PLUS represents a core business for Khazanah and a core investment for EPF and was undoubtedly an important income generator for both.
Analysts said these issues meant that PLUS should continue to remain in EPF’s portfolio as a long-term strategic investment.
EPF chief executive officer Shahril Ridza Ridzuan said last month that the fund had no plan to dispose its 49% stake in PLUS “as the investment in the company was reaping good returns”.
Bernama quoted him as saying that the fund and UEM Group had invested substantially in expanding its network, especially in the Klang Valley.
He was also quoted as saying that “PLUS Malaysia has contributed substantially to EPF’s earnings”.
UEM Group, after receiving a non-binding letter of intent from Maju Holdings, also said it has no intention to sell its stake in PLUS Malaysia.

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« Reply #136 on: November 05, 2017, 03:34:03 PM »

0.4% EPF members have more than 50% of savings in fund
Updated about 57 minutes ago · Published on 5 Nov 2017 2:20PM · 0 comments
0.4% EPF members have more than 50% of savings in fund
The median monthly household income of Malaysians in 2016 improved 6.6% to RM5,228 from RM4,585 in 2014. – The Malaysian Insight file pic, November 5, 2017.

JUST 0.4% of Employees Provident Fund (EPF) contributors own more money than the combined savings of the bottom 51.9% of the fund’s members, The Edge reports.

Figures from EPF’s annual report 2016 showed that this small fraction comprised 28,727 contributors who held about RM47.2 billion worth of savings in the fund.

The very rich have more money than the combined savings of the bottom 51.9% of its members, comprising 3.6 million contributors who owned RM43.9 billion in the fund.

“EPF data also showed that two-thirds of its members aged 54 have less than RM50,000 in their EPF account while two in 10 have less than RM8,000,”  The Edge said.

Last month, the Department of Statistics Malaysia said the median monthly household income of Malaysians in 2016 improved 6.6% to RM5,228 from RM4,585 in 2014. The mean monthly household income also increased by 6.2% to RM6,958 last year, from RM6,141 in 2014.     

The mean household income for the middle-income group held the highest growth at 6.9% per annum to RM6,502 last year, from RM5,662 in 2014.

In terms of income distribution, chief statistician of Malaysia Dr Mohd Uzir Mahidin said the Gini coefficient measurement showed a decline to 0.399% last year from 0.401% in 2014, indicating an improvement in the Malaysian household income distribution.

A Gini coefficient of zero expresses perfect equality, where all values are the same (for example, where everyone has the same income).

The income disparity ratio also improved between the rural and urban setting at 1:1.76 last year from 1:1.78 in 2014. The incidence of poverty decreased to 0.4% last year from 0.6% in 2014.

“But is income inequality really going down? A 2014 World Bank Study, co-authored by economists Dr Muhammed Abdul Khalid and Lee Hwok-Aun, seems to indicate the reverse is true if we look at EPF savings accounts, where the Gini coefficient has risen from 0.643 in 2003 to 0.661 in 2013,” The Edge said.

The report also said that according to Bank Negara Malaysia data, the wages and salaries of Malaysian workers grew less than 1%, or about RM17 in real terms. – November 5, 2017.   

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« Reply #137 on: February 10, 2018, 12:49:49 PM »

Putrajaya to announce highest EPF dividend in 21 years
Published: 9 Feb 2018, 9:59 pm     Modified: 9 Feb 2018, 10:05 pm

Putrajaya is expected to announce the highest dividend rate for the Employees Provident Fund (EPF) since 1996 this weekend.

Multiple sources told Malaysiakini that Putrajaya will announce a dividend rate of between 6.8 percent and seven percent for the year 2017.

If this estimate is correct, this would represent a significant spike of more than one percent in dividend rate, as the rate for 2016 was 5.7 percent.

It is likely the EPF dividend rate for 2017 will be the highest ever since Najib Abdul Razak became prime minister in 2009...


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« Reply #138 on: February 10, 2018, 06:30:18 PM »

Putrajaya to announce highest EPF dividend in 21 years
Published: 9 Feb 2018, 9:59 pm     Modified: 9 Feb 2018, 10:05 pm

Putrajaya is expected to announce the highest dividend rate for the Employees Provident Fund (EPF) since 1996 this weekend.

Multiple sources told Malaysiakini that Putrajaya will announce a dividend rate of between 6.8 percent and seven percent for the year 2017.

If this estimate is correct, this would represent a significant spike of more than one percent in dividend rate, as the rate for 2016 was 5.7 percent.

It is likely the EPF dividend rate for 2017 will be the highest ever since Najib Abdul Razak became prime minister in 2009...


That's called Election year dividend ?

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« Reply #139 on: February 13, 2018, 02:34:38 PM »

EPF: Members' savings, data integrity not compromised
Published: Today 1:32 pm     Modified: Today 1:45 pm

The Employees Provident Fund (EPF) has assured that its members' savings and the integrity of its data have not been compromised following a fire which ravaged its Selangor headquarters in Petaling Jaya this morning.

In a statement, EPF's corporate communications department said the Petaling Jaya office and branch have been temporarily closed until further notice.

“As the safety of customers and staff is our prime concern, total evacuation of the building has been taken, and office and counter services are closed until further notice.

“We would also like to assure members that there has been no compromise to data integrity or members savings in any manner.

“We will continue to monitor the situation as it develops and will provide an update once the branch is back in operations,” it added


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« Reply #140 on: February 14, 2018, 06:23:57 AM »

 317 4 0 327
Stop rumours about EPF fire or else, warns MCMC
FMT Reporters | February 13, 2018
Malaysian Communications and Multimedia Commission says anyone found spreading rumours and 'fake news' may be liable under Section 233 of MCMC Act.
mcmc-1PETALING JAYA: The Malaysian Communications and Multimedia Commission (MCMC) has urged people not to spread rumours or share any baseless speculations on the fire at the Employees Provident Fund (EPF) building in Jalan Gasing earlier today.
MCMC said any individual or party found to be disseminating “fake news” may be liable for action under Section 233 of the Communications and Multimedia Act for improper use of network facilities or network service.
“In this regard, the public is reminded not to share, distribute, upload or trust any form of content that has not yet been verified. Instead, refer the matter to the authorities or official sources,” it said in a statement.
The EPF building that overlooks the Federal Highway caught fire today, with flames and thick smoke coming from its upper floors.
Videos of the fire and comments flooded social media, especially through WhatsApp.
The 58-year-old building is a familiar landmark for tens of thousands of motorists using the busy highway.
The original building with its aluminium-grille facade underwent a facelift several years ago to reflect the retirement fund’s corporate image.

Messages on WhatsApp and other social media platforms have been spreading “fake news” pertaining to the cause of the fire, loss of records and “threats” to other government financial bodies.
The EPF has given an assurance that the data of members was never in any danger of being compromised by the fire as its data servers were in a secured remote location and “supported by world-class back-up and recovery procedures”.
The fire was believed to have been caused by sparks during maintenance work on the first floor on the outside of the building
Fire and Rescue Department deputy director-general (operations) Soiman Jahid said an inflammable polyfoam was used as cladding for the building structure and this hastened the spread of the fire.
The damage was mainly restricted to the exterior of the building and some cars parked alongside i

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« Reply #141 on: April 03, 2018, 11:20:46 AM »
EPF money nowadays people use for business modal only

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« Reply #142 on: July 12, 2018, 06:30:26 AM »

EPF gave RM21.16 billion to govt-owned Pembinaan PFI In a statement, EPF says the money was used as capital to fund development projects identified by Putrajaya. EPF says all sources of repayments for the funding are from the government and are currently in order. PETALING JAYA: The Employees Provident Fund (EPF) has clarified that it provided RM21.16 billion funding to the government-owned Pembinaan PFI Sdn Bhd, which was to be used as capital to fund development projects identified by Putrajaya. In a statement today, it said the financing was within the EPF’s risk-return profile and a comprehensive documentation process was conducted to ensure that the basis of the investment was fair and reasonable. “All source of repayments are from the government and are currently in order,” it said. The EPF has also assured that all investment decisions conform to the EPF’s mandate to protect members’ savings and interest. The EPF statement follows postings being shared on WhatsApp expressing fears that money provided to Pembinaan PFI was in danger of becoming another 1MDB affair. In 2015, the Edge Financial Daily had quoted then Serdang MP Ong Kian Ming as saying a little-known company owned by the finance ministry, Pembinaan PFI Sdn Bhd, had recorded RM27.9 billion in debts at the end of 2012. Ong said the amount could have reached RM47.4 billion at the end of 2014. In a statement, he had added that the spending of Pembinaan PFI did not appear anywhere in any of the federal government’s budget accounts and this meant all its expenditure was for “off-budget” items. The report further said the company’s debts were listed as part of the federal government’s contingent liabilities. “Without accountability on how Pembinaan PFI is spending its borrowings, transparency on how it is servicing its debts, and vigilance from finance minister and prime minister Najib Razak, the company can easily turn into another 1MDB,” Ong had said then. Pembinaan PFI is 99.9% owned by Minister of Finance Inc. The Federal Land Commissioner (FLC) holds one share in Pembinaan PFI. The Edge Financial Daily report further said that the Auditor-General’s (AG) Report in 2013 (series 3) stated that PFI had the third-highest liabilities among all government-owned entities at the end of 2012. Its total liabilities were RM27.9 billion, behind two well-known companies with huge assets, revenues and profits — namely Petroliam Nasional Bhd (Petronas) (RM152 billion) and Khazanah Nasional Bhd (RM69 billion), the report stated. -FMT

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« Reply #143 on: July 19, 2018, 10:14:25 AM »
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« Reply #144 on: August 11, 2018, 03:09:31 PM »

Government must encourage people to save, economists say
Mawinderjit Kaur | August 11, 2018
Yeah Kim Leng says the government should enact a special social security net for those who are not in formal sectors while Barjoyai Bardai suggests prioritising insurance over EPF savings.

PETALING JAYA: An economist has urged the government to enact policy measures to encourage people to save following the disclosure that the bulk of some 22 million employees have no formal social protection.

Yeah Kim Leng of Sunway University Business School said it was alarming that so many Malaysians were in this situation.

“What we need is a policy measure to see how that number can be reduced,” he told FMT.

“I think the government should put more resources into enacting a special social security net, especially for those who are not in the formal sectors.”

He voiced concern that without any action on the part of the government, those who retired with insufficient savings could find themselves in financial trouble.

He also suggested that courses on financial literacy be taught at universities or in training courses designed by human resources departments to help create a more financially educated and independent society.

Earlier this week, Employees Provident Fund (EPF) chairman Samsudin Osman revealed that 62% of some 22 million working-age Malaysians are self-employed and not covered by any formal social protection.

He also said recent statistics indicated that more than 70% of Malaysians do not have a rainy day fund for emergency expenses.

“It is a sad fact that many Malaysians do not have enough savings for retirement. As a social protection agency, this is of great concern to us,” he said.

He added that at 36%, Malaysia was behind countries such as Singapore and Taiwan in terms of financial literacy.

Economist Barjoyai Bardai meanwhile offered a different solution which he said would require only minimal investment from the government.

“What we need is a comprehensive programme to protect against causalities,” he told FMT.

“I believe (investing in) insurance is much better than EPF as EPF is just savings that can only be withdrawn during difficult times.

“To me, insurance groups or group takaful works better as this only needs minimal investments.

“This should be a nationwide programme as it would collect investments from the people, not the government, which makes it cheaper.”

Social security protection in Malaysia is mainly provided by the Social Security Organisation while the EPF serves retirees.