EPF dividend expected close to 6% despite challenges

 

For 2015, the pension fund declared a dividend of 6.4% which amounted to a total payout of RM38.24 billion and for last year dividends will surely reflect the weak sentiment in the domestic and foreign equities markets

KUALA LUMPUR: The Employees Provident Fund (EPF) is expected to announce its full-year dividend for 2016 this weekend.
For 2015, the pension fund declared a dividend of 6.4% which amounted to a total payout of RM38.24 billion.
For 2016, the dividends will surely reflect the weak sentiment in the domestic and foreign equities markets.
Almost every pension and investment fund suffered from the adverse effects of the steep fall in crude oil prices to historical lows of US$28 (US$1 = RM4.44) per barrel in January, the marked depreciation of the ringgit and ‘British exit’ referendum woes.
EPF was not spared as it was a major investor in Bursa Malaysia with a significant weightage in banking, plantation and oil & gas stocks, which suffered severe losses.
The EPF can be expected to declare a dividend rate of close to 6% despite these challenges.
Market analysts said this would be a decent return to the contributors.
The fund’s foresight in pursuing diversified portfolio investments that included foreign assets put it in good stead to reap decent returns like last year despite the odds.
Analysts say EPF’s dividend would be relatively better than other domestic funds, driven by its foreign assets which, although constitute 28-29% of its investment portfolio, would account for 39-40% of the income.
In short, overseas investments continued to enhance returns.
When one looks at funds worldwide, getting yields is basically a major challenge amid a low growth and low interest rate environment.
Nevertheless, in terms of consistent short- and long-term returns, analysts say very few actually beat EPF because it didn’t have a negative year.
While the first quarter of 2016 was a pretty difficult period for equities, the economy started to turn around in the second half and consequently, third-quarter financial results for EPF picked up.
The fourth-quarter results would be announced at a press conference on Monday along with the full-year results after the dividend announcement over the weekend.
Ironically, while it was an alarming last quarter given that then President-elect Donald Trump’s penchant for controversial statements, the US markets actually rose which helped boost EPF’s global operations and income.
Attractive equity markets where EPF reaped stable returns through investments in property development and infrastructure stocks include the US, UK and Europe.
EPF’s gross income for 2016 would be higher than in 2015, according to analysts, but because Bursa Malaysia took a beating last year, EPF raised its provisions for equities in Malaysia.
Understandably, contributors have to accept that declining dividends would be the “new normal” given the conditions last year.
Contributors still have the trust in EPF which, besides a high level of service, has always exercised prudence in its investment with secure assets a core ingredient of its overall portfolio.
A customer satisfaction survey conducted a few years ago showed that 94.74% of EPF’s customers were satisfied with its services.
As such, whatever the dividend announced by EPF this weekend would be one that is realistic based on market conditions and takes into account the interests of its contributors.
– Bernama



Comments - Dividends should be more than 6% because of the devaluation of the Ringgit in 2016 which was 35% and most EPF investments are overseas or unless the investment in FELDA and 1MDB went up in smoke. My guess the EPF dividend the government is going to declare is 5.5%

Normal to charge Chinese New Year tax, says sushi shop - But question is if it is legal to do so

'We have no intention of cheating our customers; we are Buddhists,' it says, stating that prices of veggies go up during the festive season. ( But question is if it is legal to do so )

 

 

 

 

GEORGE TOWN: A sushi restaurant which charged a 10% “CNY tax” here during the recent Chinese New Year holidays said it was “normal” for eateries to impose a surcharge to offset the rise in food prices during festive periods.( Is it legal or not )

Speaking to FMT, the spokesperson said she was no different from other restaurants, which similarly imposed surcharges on the final bill.
“Do you know that most restaurants impose a 10% tax during Chinese New Year? This is because prices of vegetable go up during CNY. ( Then if the vegetales are expensive then donot sell or open restuarnt for business or 10% surcharge is to make extra money )
“A notice was placed at the cashier counter for our customers to see.
“We have done that on Facebook, too.
“We have no intention of cheating our customers; we are Buddhists,” the spokesperson said.

When asked if she could have called the “tax” a surcharge, the spokesperson said: “Yeah, maybe next CNY, we will call it a surcharge. And also put it on the front door as you suggested.”
Recently, a woman complained to FMT saying her bill for six people was levied a “10% CNY tax”, on top of a 10% service charge and 6% GST.
She said she was only aware of the “tax” when she got her receipt.
Later, she found out that the tax was only applicable from Jan 27 to Feb 2. But she had gone to the restaurant on Feb 3.

 

She later contacted the restaurant to ask for a refund of the tax paid, which came up to almost RM20.
The restaurant agreed and apologised, citing “error” in the point-of-sale system.
The Consumers Association of Penang had called the CNY tax “likely illegal

 

 

Comments

 

What is the Ministry of Domestic Trade and Consumer Affairs going to do about this as not only this resturants but all Chinese resturants , hair dress saloons and other business having been doing this extra 10% surcharge from day one. Best solution take them to court and calculate the years he resturant , hair saloon or other businesses have been operating multiply the days in a year it charges 10% surcharge multiply ( Average days taking from the 10% surcharge days divide by 10 equal to 10% ) is the extra 10% the businesses have been charging the consumers 10% extra surcharge and fine them by multiplying by 100 times. This will teach theses businesses that there is still Law in Malaysia ) because when the pig hair brushes issue came out , the ministry raided the business almost immediately

 

 

Let see if the minstry walks the talk or are going back to sleep again because the consumers have suffered enough

 

 

DOWN DOWN & DOWN: BUYERS TO DICTATE PRICES OF MALAYSIAN PROPERTIES IN 2017 – RESEARCH FIRM

KUALA LUMPUR – The local property market, which saw a decrease in sales last year, will continue to be subdued this year, the research arm of property consulting firm Rahim & Co said today.
“The property market is expected to remain subdued for a period of 12 to 18 months,” the firm told a news conference here on in its summary of findings on the Property Market Review for 2016 and 2017.

The firm added that it will be a buyers’ market as there will be a period of adjustment and price consolidation to close the gap between prices demanded by sellers and those looking to buy.
“Affordable housing will continue to be popular this year where the people are facing rising cost of living especially for young families,” it said.
But the firm also expressed concern that there may be an oversupply in the commercial sector.

 

While residential transactions across the country had decreased, retail space had continued growing in most of the states, according to the review.
About six million square feet of new mall space is expected to come up in the next couple of years.
“Absorption of new supply coming into the market is expected to slow down and capital values as well as rental rates are to remain competitive,” it said.
Retail sector is also expected to face “tougher times” due to declining consumer sentiments, the firm said.
– Malay Mail


Comments


Please get real as the Chinese are not buying properties for investment here but overseas where their hard earn money is more secure. Only property they are going to buy is a simple house to live in and a shop to do business and nothing extra. With Ringgit on freefall , best to invest money overseas as the money will grow with bank interest , increasing property prices and also apperication of foreighn currency against Malaysian Ringgit.

Why invest in Malaysia and see the investest money depericate daily and lose 10 to 20% value against foreign currency tearly.


Only a dumb fool will do that and the Chinese are no dumb fools

How to access blocked websites

Please use the below link to unblock websites

http://www.unblockaccess.com/

Gomen Already Grinding To A Halt : SPM Results Delayed, No Money For Scanner.- From around the blogs

Before you read the news, folks say that Universiti Putra Malaysia also has budget to pay salaries of their staff only until August this year. So far no one knows if the gomen will table a Supplementary Budget for the period after August.

Here is some news which says that this year's SPM results will be delayed by two weeks because the Lembaga Peperiksaan has no money to purchase a new OMR scanner to grade the examination papers.

*Mesin semak jawapan rosak, LP tunda umum keputusan SPM 2016*

KUALA LUMPUR: Kerosakan mesin pemprosesan pembaca tanda optik (OMR) dan kekangan kewangan membaik pulih mesin berkenaan, menyebabkan Lembaga Peperiksaan (LP) terpaksa menunda pengumuman analisis keputusan Sijil Pelajaran Malaysia (SPM) 2016.

Berdasarkan surat pekeliling dikeluarkan bertarikh 12 Februari 2017 yang ditanda tangani Pengarah LP, Datin Nawal Salleh, pengumuman analisis keputusan SPM 2016 yang sepatutnya diadakan pada 2 Mac, terpaksa ditunda kepada 16 Mac ini.

Surat pekeliling yang salinannya turut berikan kepada Ketua Pengarah Pelajaran, Pengarah Peperiksaan dan Pengarah Perancangan Dasar Pendidikan itu menyatakan mesin pemprosesan OMR yang sedang digunakan LP uzur dan rosak sekali gus menuntut untuk diganti.

"Namun LP menghadapi kekangan peruntukan kewangan menggantikan mesin berkenaan dan hanya boleh dibaiki."

Ini menyebabkan tugas berkaitan pemprosesan data tertangguh untuk kerja membaiki mesin berkenaan, " katanya.

Timbalan Menteri Pendidikan, Datuk P Kamalanathan ketika dihubungi berkata, perkara berkenaan perlu disiasat.

My comments : There is very poor maintenance culture everywhere in Malaysia especially in the gomen. When the oil price was US70 per barrel or US100 per barrel, they will just call the supplier (possibly a crony) and a new OMR machine would arrive within days, possibly at two times or three times the market price. Why bother repairing or maintaining it when you can just buy a new machine?


If you are rich, why bother changing the tyres on your car? Just trade in the car for a new one.

Now when the oil prices have crashed, so much money has been stolen by MOI and the gomen has no more money, the gomen people are beginning to realise that they do not even know how to change a lightbulb.

"Namun LP menghadapi kekangan peruntukan kewangan menggantikan mesin berkenaan dan hanya boleh dibaiki."

The solution? The SPM results will be delayed by two weeks.
Why not just delay it by an even one month - lagi senang nak kira.
Tak payah fikir banyak.

The Surat Pekeliling is dated 12hb February 2017? But the SPM exams were completed last November (??)

Have the machines been working hard since November 2016 or did the Pengarah woman just turn on the machine in February 2017 and found out that the machines sudah rosak?

Its already happening folks. They will drive their cars until the fuel runs out. Then they will get down from their cars, just stand there and stare, not knowing what else to do.

This is happening already.

More party resignations? That’s news to Guan Eng

He says there is also no evidence that two more senior DAP politicians in Selangor and Johor are leaving the party

GEORGE TOWN: DAP secretary-general Lim Guan Eng has confidently dismissed predictions that more members will leave the party.
He said DAP was unfazed by the resignation of four elected representatives in Malacca over the weekend.
“I am sure our members will stick with the party. The majority of DAP members in Malacca have also indicated support for the leadership,” Lim told FMT today.
On Sunday, Kota Melaka MP Sim Tong Him and state assembly members Goh Leong San, Lim Jak Wong and Chin Choong Seong quit the party claiming loss of confidence in the party’s leadership, which they said had moved away from its original objectives.

They may stand as independent candidates in the next polls.
Lim said the Malacca episode was an isolated one and is unlikely to be repeated.
“The resignations were due to the personal grievances of the Gang of Four as a result of their defeat and rejection by Malacca DAP members in the 2015 party elections.” he said.
Lim said he had also not heard of anything to support the prediction that two more senior DAP politicians in Selangor and Johor were leaving the party.
“Let’s see whether BN can orchestrate the end of DAP because this is news to us.
“But if it does not happen, then BN has a lot of explaining to do.”
Recently, Tunku Abdul Aziz Tunku Ibrahim, who was formerly DAP vice-chairman, claimed two DAP loyalists from Selangor and Johor would be leaving the party next to signal “the beginning of the end for DAP”.


Comments


Best for DAP if those who do not belief in the Malaysia for Malaysians struggle leave now because if they stay back can sabotage the next GE14 for DAP and the opposition. Please do not stop them and just thank them for doing DAP a favour by leaving DAP now than later

Wag The Dog : Mark Knopfler - Thanks to Steadyaku47 Blog

Najib’s secret weapons - If only they work

From around the blogs https://www.mariammokhtar.com Mariam Mokhtar - The woman the Ulama - UMNO and PAS fear most with also Siti Kassim another fearless woman what walk the talk



Najib Abdul Razak has two powerful secret weapons to control Muslims, in particular the Malays. It is for Malaysians – yes you – to destroy them!

He is scared of ‘Aunties’ like Maria Chin Abdullah, the leader of Bersih, whom he arrested and placed for 10 days in solitary confinement. He hounded the dance choreographer, Bilqis Hijjas, who released yellow balloons which landed close to him. Umno-Baru thugs, thrashed Zunar’s exhibition, in Penang. The same thugs which stormed the Penang state assembly in 2014.

Najib uses the state machinery, like the inspector-general of police (IGP), the civil service and the judiciary, to do his bidding.

The on-off secret weapon

One secret weapon is the PAS president, Hadi Awang.
When Najib has bad news to hide, Hadi’s hudud bill is used to maximum effect, to put the fear of God in Malays.
Last May, The Wall Street Journal revealed that Good Star Limited was owned by Jho Low. Several hundred millions of ringgits of taxpayer’s money had been sent to Good Star, and then redirected to Najib’s personal account.
Najib needed a distraction. Enter Hadi’s hudud bill.
He also used this bill, to distract us, when we were angry over Maria’s detention, last November

Three sets of laws

Minister in the Prime Minister’s Department, Azalina Othman Said, moved Hadi’s bill from the bottom of the list, to the top of the pile, last year.
With her legal background, Azalina should have known that this bill goes against the Federal Constitution.
A nation cannot be ruled by three sets of laws. Civil law, syariah law and one for the élite.

‘You help me, I help you’ in Kelantan

Najib will collude with Hadi, and use Islam as the proverbial whip.
Umno-Baru hopes to be returned to power, but they need Hadi’s help. The hudud bill, in Kelantan, is the price Umno-Baru must pay for this help; but be warned, hudud is like a cancer, if not excised, it will spread throughout the country.
Muslims are afraid to speak out, with the millstone of Islam weighing them down.
 

If you became the PM, what 10 things would you immediately ban?

Thanks to Mariam Mokhtar https://www.mariammokhtar.com and she is one lady I respect her for her views on making Malaysia a better place to live. and also a damn smart lady to come up with the below wish list. I could not do any better if I tried

You are fed up with Malaysian politics. Let us imagine that you have just become the prime minister of Malaysia. On your first day in office, what would you ban?

This is my to-do list. What’s yours?

 

Ulamas

The ulamas are the root of Malaysia’s problem. Some of them distort Islam and encourage us to practise racism and misogyny. They are more interested in the after-life, than life on Earth. Many claim that the Malay women are destined for hell. What can a woman expect in heaven, 72 studs? One man is a handful, but 72? One popular ustaz, claimed that women, who go to heaven, will be rewarded with an unlimited number of kitchen utensils, Pyrex, and gold bangles. Hell seems preferable.

Umno-Baru and PAS

Umno Baru/PAS politicians for using the ulamas to further their aims, of driving a wedge in multi-racial and multi-cultural Malaysia.

The IGP

He prefers to tweet, and enjoys catching cartoonists, Bersih and human rights activists instead of catching thieves.

Traffic police and JPJ roadblocks.

If the law was properly enforced, why are lorries and buses which are not road-worthy on the roads, people who have no driving licence driving cars, and drivers who have convictions for drug-taking and traffic violations driving buses? People who mis-use the emergency lanes, are not given stiff jail sentences, nor heavily fined, and their licences revoked .

“Datuks”

Datukships are being “donated” to thugs, gang leaders and people who are obnoxious, arrogant and abusive, who think a Datuk ship permits them to get away with crime, including beating people up, accepting donations and murder.

Little Napoleons

These people are in charge of public services but their service is far from exemplary. Rude, officious, abusive, petty-mindedness, arrogant are some of the nicer descriptions which the public use, after meeting them.

The moral police

Do we need our private lives to be controlled by lechers who are taxpayer funded, voyeurs? Dirty old men being paid for by the state to satisfy their perversions.

Hypocritical Politicians

These include politicians who drive Porsches but tell the rest of the rakyat, to use kapcais, camels or Protons. We want politicians who do not squander taxpayers’ money, or steal from the public purse.

Children of politicians/civil servants

Some of them think that being decked-out in their bling, luxury watches, designer clothes, while driving imported sports cars, enables them to lord it over you. They see no conflict of interest in owning companies which will compromise the official public roles of their mamas and papas.

Spouses

Especially those who are considered the power behind the throne, and fly from one shopping mall capital, in the world, to another, buying up gems and bags which are so airy, that they can hold many kitchen sinks at once.

What if I don’t want to be PM?

You may not be interested, but you have the power to change how we are run in GE-14.


Use your vote wisely.

SABAH TURMOIL: MUSA TO CALL ELECTIONS IN APRIL – PENANG & SELANGOR TO JOIN IN? SABAH GOVERNOR POST FOR MUSA, IF HE AGREES TO POWER TRANSITION WITH NAJIB?

This is from Apanama’s Blog here :

http://www.apanama.my/2017/02/sabah-state-election-in-april.html?m=1

 

 

Sabah early election, probably two months
BN move to test political undercurrents
decision made for Sabah, by Putrajaya.

Candies and cookies to woo voters.
worth at least a few billion ringgit.
Santa Claus long before Christmas this year.

60 state seats

BN 48 state constituencies
Musa has been CM for 14 years.
on his way out.
removing Musa breath of fresh air

senior minister tendered resignation due to 1MDB scandal
streams of denials and ridicule.

Zahid Hamidi announced minister who tendered resignation NOT Anifah Aman

Why focus on Anifah Aman?
Azmin did not name Anifah.

Salleh Keruak and Rahman Dahlan increasingly impatient.

Anifah quiet lately
impending resignation put on hold after FDI by prime minister

2 hour negotiation in KL put things on hold
pending outcome of ongoing horse trading

Ketua Pemuda Umno Malaysia post for CM’s son
CM could be next Governor of Sabah.

Anifah may not last with a new state BN leader

 

local sentiment favours Hajiji Noor (Sulaman state assemblyman)
well liked leader who is capable of being game changer

“Rahman Dahlan is not even part of the equation”

cannot rule Musa Aman and Shafie Apdal bury the hatchet.
Politics is the art of the impossible
Whether election in April as planned or with peninsula in Sept/Oct
Who dares rule out Shafie Apdal as next Chief Minister of Sabah?

My comments : Talk is the PRU14 will be held after the SEA Games in August (??)

They are going to “make sure” that Malaysia wins if not all then maximum gold medals. TV and media will be playing the “feel good” news again and again for a week. Then when the folks are feeling good they will suspend Parliament and declare the General Elecions. That is the game plan, maybe.

The BN has to move quickly in Sabah because Shafie Apdal is getting stronger by the day. There was talk of a small hiccup in Shafie’s momentum but now with the rumours about Anifah Aman wanting to resign, Shafie is back on top again.

So it really does not matter if they will have the Sabah state elections in April.

 

 

And yes if Musa Aman is slated for the cowshed, he may make an alliance with Shafie Apdal. Why not?

Here is the nightmare scenario for BN – what if Musa Aman makes a private and quiet deal with Shafie Apdal? Meaning it will not be known in public. “Satu untuk engkau, dua untuk aku”.

There could be a show stealer if both Penang and Selangor also dissolve their Assemblies and go for an election. My feeling is both Penang and Selangor will see the Pakatan securing a greater number of seats. And PAS will lose big, very big losses.

If that happens UMNO will have to reconsider how many seats they want to share with PAS. It will also give greater boost to Bersatu and Amanah to go after more PAS held seats (State and Parliament) in the PRU14. PAS will also drop the RUU355, hudood etc.

If the BN loses Penang, Selangor and Sabah (or loses many seats in Sabah) then MOI may decide to abolish the GST BEFORE the PRU14 in September or October. Even totally abolish import duties, taxes and APs for automobiles. Consumer prices will come crashing down. People will be happy.

– http://syedsoutsidethebox.blogspot.my/


Benhurplugup  Comments

deal or no deal , BN is on the way out and will be lucky if it wins 5 to10 state seats . This is going to happen same as what Berjaya did to USNO and PBS did to Berjaya and this time Warrisan will kick out BN by itself if PH dose not want to play ball with Warrisan. For Musa Aman no deal can save hime. End of Sabah fixed deposit. Fixed deposit maturity have arrived and time for a full withdrawal

 

WHO’S PISSING WHO OFF: YOUNG MALAYSIAN CHINESE DON’T CARE ABOUT POLITICS? SERIOUSLY?

Years ago there was a “notion” among Malaysians especially Malays that Malaysian Chinese were not interested in politics, didn’t care who ruled the country and didn’t give a hoot what happened, as long as they were “free to do business and make a lot of money.”

That so called “notion” was not backed with evidence, of course, and could have been furthest from the truth. But, that was the “general impression” those days. Perhaps the Chinese themselves encouraged the moulding of such an impression with their action or lack of it rather.

Then things changed, should I say, for the better. The community showed they really cared for the nation. They wanted to have a say in politics, on how things ought to be done for their own benefit and that of fellow Malaysians, regardless of the political parties they supported.

And that’s how it is until now.

But a few days ago, PKR president Datuk Seri Wan Azizah Ismail said in an interview with Sin Chew Daily that her party’s survey showed that young Chinese are somehow reluctant to go to the polls with many of them “don’t even register as voters”.

According to Wan Azizah, only 13% of Chinese youths aged between 21 and 29 have registered as voters, compared to 80% of Malays in the same age bracket.

It’s a given that she’s concerned because Pakatan Harapan deems the support of Chinese and non-Malays as crucial for them to win GE14, which many believe is to be held this year.

I’m not going to dwell into such concerns. Instead, I would like to put forth some questions.

Why the political apathy? Are young Chinese not interested in politics? To me, it’s yes and no.

Those not interested could be due to “lack of exposure”, or they simply don’t give a damn…

However, there are many who are interested in and fully aware of the current state of affairs in this country.

Take students for example. A big number of young Chinese pursuing tertiary education in the country are in private universities where “political activities are not felt ” compared to public varsities.

 

Still being internet savvy, these youngsters are not deprived of information and thus have their pulses on the goings-on.

Having said that, the question to ask is: are young Chinese satisfied with how things are run in this country? Or are they so contented that they feel it’s not necessary to change things via the ballot box, hence their unwillingness to register as voters?

I dare say that many Chinese, young or old, are not happy (to put it mildly) with government policies they see as discriminatory to non-Malays, or Malay-bias policies. They have always wanted all that to change.

Even pro-government Chinese feel that way, but they maintain “change must be from the inside”.

So, have the young given up seeking fair and balanced policies envisaged all this while? Or they have given up on the desire for change?

Or have they resigned to a “whatever” and “come what may” situation? No matter on which side of the fence they are on.

To Wan Azizah, Chinese youths’ indifference towards politics “has a lot to do with the current state of political affairs”.

The opposition leader did not elaborate. Nor did she give the specifics. At least not during the recent Sin Chew Daily interview.

Leaving that aside, I must say that of late our politicians from both sides of the political divide are making headlines for wrong reasons.

So, the big question to ask now is: are young Malaysian Chinese fed up with politics, or it’s the politicians that’s peeing them off, opposition as well as government?

And the bigger question is: who should first change their attitude? The young Chinese? Or politicians themselves?

– http://mysinchew.com.my

 

Comments - Showing displeasure by the way they are spending their hard earned money and business whoare baised to them suffer the most