EPF is the biggest ponzi scheme in Malaysia! Otherwise why do you think they tried so hard to raise the minimum withdrawal age to 60? Is is bcoz they really care for the rakyat? Or they just buying more time to have more and more employees plunging their 23% of income into their hole?

If a ponzi scheme doesn't allow its members to to withdraw, it will go bust long time ago like Bernie Maddof! If your mum is over 55 and wants to withdraw her 10m in the epf, i'm sure it will be done swiftly. No doubt about it!

My question is : how do you know whether epf is not using the people's contribution now to cover for the 10m your mum withdrew a year ago?

Even if Ajib takes another 10b out of EPF as donation, there will be future generation of rakyat to keep on dumping their monies into the EPF, required by law! This is what is great about this ponzi!

If the underlying assets is only worth 50sen a unit as you said, this is just another PONZI scheme! But don't worry this PONZI will not bust as long as got pipu believe they could sell at RM1.00. They will keep buying into it to keep the PONZI alive!

This is the interesting part! During the 1997/1998 crisis, ASW actually gave the best dividends. Did they short sell the FKLI to make the money?

Year Dividend (sen)
1997 10.10
1998 9.80
1999 8.20
2000 8.80
2001 7.25
2002 7.25
2003 6.60
2004 7.00
2005 7.10
2006 6.80
2007 8.00
2008 7.00
2009 6.30
2010 6.35
2011 6.50
2012 6.60
2013 6.70
2014 6.60

The ASW was launched 28 Aug1996. How many early years they could have?

https://en.wikipedia.org/wiki/1997_Asian_financial_crisis


In July 1997, within days of the Thai baht devaluation, the Malaysian ringgit was heavily traded by speculators. The overnight rate jumped from under 8% to over 40%. This led to rating downgrades and a general sell off on the stock and currency markets. By end of 1997, ratings had fallen many notches from investment grade to junk, the KLSE had lost more than 50% from above 1,200 to under 600, and the ringgit had lost 50% of its value, falling from above 2.50 to under 4.57 on (23 January 1998) to the dollar. The then prime minister, Mahathir Mohammad imposed strict capital controls and introduced a 3.80 peg against the U.S. dollar.

Malaysian moves involved fixing the local currency to the U.S. dollar, stopping the overseas trade in ringgit currency and other ringgit assets therefore making offshore use of the ringgit invalid, restricting the amount of currency and investments that residents can take abroad, and imposed for foreign portfolio funds, a minimum one-year "stay period" which since has been converted to an exit tax. The decision to make ringgit held abroad invalid has also dried up sources of ringgit held abroad that speculators borrow from to manipulate the ringgit, for example by "selling short". Those who did, had to repurchase the limited ringgit at higher prices, making it unattractive to them.[35] In addition, it also fully suspended the trading of CLOB (Central Limit Order Book) counters, indefinitely freezing approximately $4.47 billion worth of shares and affecting 172,000 investors, most of them Singaporeans,[36][37][38] which became a political issue between the two countries.[39]

In 1998, the output of the real economy declined plunging the country into its first recession for many years. The construction sector contracted 23.5%, manufacturing shrunk 9% and the agriculture sector 5.9%. Overall, the country's gross domestic product plunged 6.2% in 1998. During that year, the ringgit plunged below 4.7 and the KLSE fell below 270 points. In September that year, various defensive measures were announced to overcome the crisis.

This post has been edited by ikanbilis: Aug 18 2015, 09:39 PM

Thanks for pointing out, we add another 2% for 1999. My question is : with the klse plummeting till below 300 pts, how did the ASW give such high dividends for 1997, 1998 and 1999?

My view is bcoz interest rates are as high as 8-9% that time, so in order to retain people's money in ASW, they have no choice but to declare super high dividends, even though their NAV is so much below RM1.00.

Isn't this a PONZI? They may pull it off the last time, can they pull it off again this time? That's the million dollar question.

If our gomen can freeze $4.5b of CLOB shares during the Asia crisis, there is nothing our current gomen under Emperor Ajib cannot do. Freezing of ASx withdrawal? Sap sap sui only lah...

Why so defensive? I'm just providing an alternative discussion whether you should put all eggs into one basket? Why do you think the ASx just a month ago it's almost impossible to top up, nowadays many people can open all new ASx account easily?

Since you ask, I'm currently working in the States, my assets are spread in 3 countries U.S.30%, Spore 30% and M'sia 40%. I'm working on it to be 4:4:2 in the near future.

Everyone can learn to diversify their portfolio, you don't have to use the famous quote kalau tak suka, keluar lah...

Walao! You think i have unlimited resources meh?

U.S. - bcoz i work here. I got my income here.

S'pore - Coz my home town in JB. Always go shopping in Spore.

Malaysia - I'm a Malaysian. Have property here.

In fact 2 weeks ago I just TT back US$10,000 to M'sia when ringgit was beginning its slide.Even though the gomen is screwed, I'm always a Malaysian at heart.

The AR 2014 does not provide the straight forward NAV. We have to rely on the RM178m expense they charge as "Yuran Pengurusan" to derive at the figure.

Working backwards using Yuran Pengurusan * 100 / Units in Issue

178,430,500 * 100 / 16,892,100,000 = 1.0563

The AR report is written in BM, it took me a while to understand the the gist of it.