Why do you think as a non-depositor I started reading Tabung Haji's account? It all started with the BNM advisory letter... and it's a valid one
Why would I care to check tabung haji's website every other week if the annual report is out?

But... is there anything tangible you think we can do?

A personal view of mine. Many people KNOWS the theory. It's the practical part of it that is worrisome. Answerable to his/her GOD, doesn't bring back money that is actually due to depositors if no malpractice is carried out. Our tax money (aside from other Govt revenue) are used to bail out GLC's time and time again. So, he is answerable to GOD? AG's report, despite all the wastage, people aren't prosecuted for their "crimes" because it was only due to incompetency or/and "unaware". Yet, we all know they have pocketed in some form or another. So, answerable to GOD as well? Right, you want evidence which the common people can't provide. Then Malaysia must be a very corrupt free nation since many assumed scandals go unpunished because of lack of evidence.

My opinion is, if GOD's leniency is the core value of their practice, we wouldn't have so much malpractice in Malaysia.

So, forgive me when I doubt the principles or values of the people managing our retirement funds, especially now when there are separate funds. They can just switch returns here and there, and none of us would be wiser. Oh wait, except GOD.

They can go to hell for all I care in the afterlife. But while they are still alive and breathing, they are answerable for their actions to the people and to the law.

Forgive my post, it may sound personal, but it isn't, especially not to you. I have merely given up hope that the people in power have GOD on their mind when carrying out their duties.

Off Topic alert!

KPFun,
Once upon a time i would have flipped too.

However, with time, i remembered what momma told me.
momma told me to focus on things i can affect
and for things i'm forced to "pay" and can't affect, think of them as a tax on being a gaijin

i make momma proud by
saving net salary (cash) & doing so with US, SG, AU, CH investments
+ keep paying "taxes" on being a gaijin in the country to "use the facilities".

when i retire, i'll do the same @ HCM or Chiang Mai - pay the "taxes" for the usage and can't be bothered with how it's spent, as long as the "facilities" are useful / acceptable.

Just a thought - no right/wrong and hopefully, less ruptured spleens trying to change the unchangeable

This post has been edited by wongmunkeong: Sep 7 2016, 11:48 AM

Unfortunately, none for the moment, the political power is too strong.


About your care of checking tabung haji's website every other week if the annual report is out.

1MDB fired E&Y and KPMG, is your answer.

Good opinions and discussions in the last few postings,...

I wonder those who doubt the country's administration have made arrangement to move out of the country ?

There are many brilliant people migrated. Because they don't trust the administration any more. They felt that the taxes they pay are being abused. They don't get equal treatment, and of course they don't trust EPF too where their retirement funds are kept...

We have been talking about "the ship is going to sink" for many years (remind me of unker dreamer ). But yet outsiders (world bank, credit rating agencies etc) think otherwise.

At least unker dreamer walk the talk. He said bye bye to malaysia...

I moved my children out,... I've walked the talk too,....

How about u?

In and out,... I have a lot of my funds and assets outside anyway,... Malaysia becomes my diversifier now, instead of outside,...

I'm glad I made the move to dispose a large proportion of my funds from the PNB late last year. If that catalyst of a possible conversion to VP Funds did not come, I would have just been contented and stayed inside PNB.

When that catalyst came, I made ALL the steps to strengthen my portfolio outside and transferred my funds out. I have an even stronger portfolio outside of the country now, earning foreign currencies. In the process of strengthening my portfolio, I was alerted by some quarters, my external investment bankers, to move my children out, to go to schools outside.

It is good for my foreign investments if we are residents in those countries.

So,..all in.. I am glad that catalyst came,.. and things turned out as such for me today.

My children are still young,.. not of university age yet,.. moving them out is more expensive,.. but no choice-lar, bro,...

I think you made the best move. I have been through that too.

Malaysia is bad, but not that bad lah. But for long term, it is better to diversify outside. No harm. If one day touch wood the ship really sink like unker said, at least got some thing to fall on to

But right now, the ship is still moving. So your strategy of keeping more outside and a portion inside is still the best and forward looking

Yeah long time never heard of Dreamer 101 ...... we need him to provide us more advice.....

Okay, bro,... Tq,...

OOOOPppppppssss

EPF's 2Q investment income down 26% on year at RM8.44b



By Sangeetha Amarthalingam / theedgemarkets.com | September 9, 2016 : 2:12 PM MYT


KUALA LUMPUR (Sept 9): The Employees Provident Fund (EPF) posted a 26.04% drop in second quarter investment income at RM8.44 billion, from RM11.4 billion a year earlier, mainly on RM3.58 billion worth of non-cash impairments on its listed-equity investments.

In a statement today, EPF's chief executive officer Datuk Shahril Ridza Ridzuan said its investment income drop in the second quarter ended June 30, 2016 (2QFY16), reflected a challenging global and domestic environment.

"Since late last year, the EPF has been preparing itself for a challenging global and domestic environment. The uncertainty was made worse by developments such as Brexit and continued low commodity prices.


"We have seen and expect a further slowdown in global economies and increased volatility in equities. Markets saw lower valuations in share prices, particularly in the financial and oil and gas sectors, compared to the same quarter last year," Shahril Ridza said.

He said the RM3.58 billion worth of non-cash impairments reflected lower equity prices from a year earlier.

According to him, the EPF registered mark-to-market losses in its income statement.

"On a gross basis, the quarterly investment income in Q2, 2016 was RM12.07 billion, which was RM233.95 million higher, compared with RM11.83 billion recorded in Q2 2015. However, as a prudent fund, we continue to recognise mark-to-market losses on our income statement, while leaving gains on our balance sheet.

"This will ensure that our balance sheet remains healthy and allows us to take advantage of any market recovery. Impairments to present market values will allow us the opportunity to realise gains in the future," Shahril said.

This post has been edited by prophetjul: Sep 9 2016, 03:35 PM

Since EPF registered 2 consecutive quarter of poor results, I wud b happy if they can declare Dividend of at least 6% for 2016 as compared to 6.40% in 2015

Possible since even during the global financial crisis and Asian financial crisis they declared 6.84 and 4.5.

thats my concern too~~too many sentimental factor affecting the returns on our epf money. black box operations...it never be a fair game.

Thanks to Masters for the reply. As a small french fries, i cant stop but keep worrying about the future. There are so many uncertainties with the conditions with the politics. but real, there is really nothing i can do. at least one thing i can do is stop worrying and DO what i can do.

Dun worry so much as U will cross that bridge when U get there