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 EPF Suspended Public Mutual as Approved Fund Mgr, Suspension starts 29th October, 2012

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dexterhau
post Oct 30 2012, 09:14 AM

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I got the same thing from my agent as well... They said PM agent openly condemn EPF Fund Performance. I think because of that EPF beh song la... Then gantung dia punya lesen... =.=' Why EPF act like Small Kid?
jayen
post Oct 30 2012, 09:16 AM

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Hi sam sam,

Sure, of course. If you see the link in the first post, there are many others companies you can invest in apart from Public Mutual.
TSdaniellehu
post Oct 30 2012, 09:37 AM

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QUOTE(dexterhau @ Oct 30 2012, 09:14 AM)
I got the same thing from my agent as well... They said PM agent openly condemn EPF Fund Performance. I think because of that EPF beh song la... Then gantung dia punya lesen... =.=' Why EPF act like Small Kid?
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It is a valid argument and still, not good enough to put PMB on suspension.
prophetjul
post Oct 30 2012, 09:54 AM

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QUOTE(daniellehu @ Oct 30 2012, 09:37 AM)
It is a valid argument and still, not good enough to put PMB on suspension.
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Dats the reason i mentioned the ketuanan attitude of gomen workers
TSdaniellehu
post Oct 30 2012, 10:02 AM

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QUOTE(prophetjul @ Oct 30 2012, 09:54 AM)
Dats the reason i mentioned the ketuanan attitude of gomen workers
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haha!! couldn't agree more! people get punished because they dislike the way you walk or talk!
KonKam
post Oct 30 2012, 10:03 AM

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Good that PM is suspended.
Switching charges so high.
Almost like buying share charges.
TSdaniellehu
post Oct 30 2012, 10:42 AM

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QUOTE(KonKam @ Oct 30 2012, 10:03 AM)
Good that PM is suspended.
Switching charges so high.
Almost like buying share charges.
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as much as we acknowledge the service charge is on the high side, and NOT the switching charge (at RM 25/swicth), I personally feel that this is not the time nor place to complaint about charges which is NOT in line with the title.
dexterhau
post Oct 30 2012, 10:53 AM

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The charges are high but their service not bad la...
Kaka23
post Oct 30 2012, 11:10 AM

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I hope they will lift up this in 1-2 months time.. then many can continue to invest
Felice821
post Oct 30 2012, 11:17 AM

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Means that even existing can't continue to invest? or just applied to new investor?
TSdaniellehu
post Oct 30 2012, 11:42 AM

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Good news guys! I have just learnt that EPF is going to lift the suspension on PMB by the end of the day.

This post has been edited by daniellehu: Oct 30 2012, 11:48 AM
Great Eastern Agent
post Oct 30 2012, 11:46 AM

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QUOTE(daniellehu @ Oct 30 2012, 07:09 AM)
Please be informed that the services of Public Mutual Berhad (IPD Code 03) as Approved Fund Management Institutions (IPD) under the EPF Members’ Savings Investment Withdrawal have been suspended with effect from 29 October 2012.

Accordingly Public Mutual Berhad (IPD Code 03) is prohibited from opening accounts for EPF members and/or receiving credit transfers from EPF members commencing from 29 October 2012. However, the IPD is still responsible for managing existing members’ investments, if any, transferred before 29 October 2012.

You may click the link below as to verify this announcemnt

http://www.kwsp.gov.my/portal/en/web/kwsp/...ment-institutes
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I heard EPF suspend PMB because of their consultant promote PMB by using EPF logo, criticize their returns by doing comparison side by side in brochures & i think this is maybe for temporary only until PMB clarify with EPF.
hmm.gif Hope so!!

Added on October 30, 2012, 11:48 am
QUOTE(Great Eastern Agent @ Oct 30 2012, 11:46 AM)
I heard EPF suspend PMB because of their consultant promote PMB by using EPF logo, criticize their returns by doing comparison side by side in brochures & i think this is maybe for temporary only until PMB clarify with EPF.
hmm.gif Hope so!!
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HI rclxms.gif rclxms.gif
I just got news suspension Lifted ready!! thumbup.gif

This post has been edited by Great Eastern Agent: Oct 30 2012, 11:48 AM
b00n
post Oct 30 2012, 01:30 PM

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yeap, received the news as well. PM will recieve an official memo today noon on the upliftment.
hann6085
post Oct 30 2012, 01:47 PM

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good to hear that..
samuraislash
post Oct 30 2012, 02:06 PM

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good to hear that.. my client just sms me about this matter and staright away googling. thx for the info guys.
mibukyoshiro
post Oct 30 2012, 02:11 PM

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This is just about ketuanan of gomen..similar to incident last week, one kedai siam near my house just got raid becoz of this Mr Immigration Officer was not satisfy waiting too long for his dishes sad.gif
kusha
post Oct 30 2012, 02:24 PM

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got this msg from my agent

Suspension already uplifted - official letter should be received by today.

Did receive memo that UTCs are prohibited to use non-authorised advertisements or promotional materials, including materials that make
any reference to EPF or contain any information on fund performance comparison, especially with EPF dividend rates - if breach, Management
will terminate agency contact
MakNok
post Oct 30 2012, 02:41 PM

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QUOTE(daniellehu @ Oct 30 2012, 10:42 AM)
as much as we acknowledge the service charge is on the high side, and NOT the switching charge (at RM 25/swicth), I personally feel that this is not the time nor place to complaint about charges which is NOT in line with the title.
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the switching charges will only be rm25 after 90 days.

if not,
switching from balanced/equity fund is 0.75%
switching from bond is 0.25%
switching from Money Market is Rm50

Please take note
Nokialover
post Oct 30 2012, 03:19 PM

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any good PM agents out there? i wanna invest my epf acct
debbierowe
post Oct 30 2012, 03:19 PM

so fast 6 stars di...
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so current customer will have to sell all fund and get cash or??
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