Where are all the money goes to? Is it being use inside the 60bil mini budget? EPF blame that lower rate of returns due to the global economic crisis. The earnings for 2008 is 20bil which is the highest ever EPF get, but why they are referring to 2009 economic crisis as a reason to blame? Maybe they want to use the money for emergency such as unexpected General Election or even by-election in order to favour the ruling party, who knows?.... Malaysia is always can right? Malaysia Boleh....
http://thestar.com.my/news/story.asp?file=/2009/3/17/nation/3493990&sec=nation
Tuesday March 17, 2009 - The Star
EPF declares 4.5% dividend for 2008
PETALING JAYA: The Employees’ Provident Fund (EPF) Board declared a 4.5% dividend yesterday for its members, blaming the lower rate of returns on the global economic crisis.
EPF declared a 5.8% dividend in 2007.
However, despite the financial meltdown, EPF recorded its highest ever earnings of RM20bil in gross income last year, up 9.36% from the RM18.29bil recorded previously.
“While last year was challenging due to the unprecedented global financial crisis that has impacted economies worldwide, EPF’s investment portfolio for the year performed better at the gross income level compared to 2007.
“But due to the sharp decline in the equity markets, a large provision has to be made, resulting in marked reduction in net income,” said its chairman Tan Sri Samsudin Osman.
The dividends will be credited into members’ accounts on March 23.
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