KWSP

Nie story Teja buat sebelum melangkah keluar dari newsroom malam tadi.

The Employees Provident Fund (EPF) hasdeclared a dividend of 4.5 percent for 2008, lower than the 5.8 percent in 2007. The lower dividend rate is due to the increase in investment provisioning resulting from the sharp decline in global equity prices brought about by theworldwide financial crisis.

Despite the financial meltdown, the EPF recorded the highest ever earnings of 20 billion ringgit in gross income for 2008, an increase of 9.36 percent over the previous year's gross income of 18.29 billion ringgit.

However, the pension fund said in a statement on Monday, the sharp decline in the equity markets, a large provision had to be made resulting in a marked reduction in net income. Its Chairman Tan Sri Samsudin Osman said net income for the year was recorded at 14.26 billion ringgit after deducting allowances for diminution in value of equities and doubtful debts, dividends forwithdrawals, investment expenses, operational expenses, and death and incapacitation benefit payments.

Equities remained as one of the major contributors to the EPF’s returns in 2008, representing 34.82 percent of the EPF’s total gross investment income.

The EPF earned 6.67 billion ringgit from equities which was the second largest contributor to income in 2008 compared to 5.37 billion ringgit in 2007.

As a result of the sharp fall in global equity prices and following a conservative provisioning policy in accordance with accounting best practices,the EPF made allowances of 4.69 billion ringgit for diminution in value of both overseas and local equities, compared to only 0.52 billion ringgit in 2007. Out of the 2008 provision, 3.20 billion ringgit was allocated for overseas equities.

END.

Teja says: Ikutkan story nie memangla kita memahami kelembapan ekonomi global tidak dapat tidak memberi tempias kepada semua ekonomi terutama negara kita yang kecil ini. Tetapi sebagai seorang pencarum yang sekaligus menjadi pemegang saham KWSP, Teja rasa perkara ini tidak sepatutnya berlaku. Yang peliknya, KWSP banyak pulak duit nak diberi kepada kerajaan, untuk stimulus package laa, mini-budget laa, dan projek-projek lain yang tak perlu.
Sudahla, kami secara "sukarela" di minta kurangkan caruman (dikatakan "sukarela" sebab sape yang nak dikekalkan caruman kena isi borang dan hantar borang tu ke HR, sedangkan yang nak dikurangkan caruman, tak perlu buat apa-apa, ia dilakukan secara automotik) Apa nie? menyusahkan.!!