Friday, December 5, 2008

The Worse Is Yet To Come?

The Employees Provident Fund’s (EPF) total investment income for the third quarter fell 60.4% to RM2.06bil from RM5.2bil in the previous quarter as its investments, were affected by the global economic uncertainty.

The EPF said due to the current global economic uncertainty, stock markets across the globe had fallen significantly, including the local equity market.

In the same period, the KL Composite Index fell 243.81 points, or 19.3%, to 1,018.68.

They really know how to time the announcement, don't they? End of third quarter should be end September but it took them till December to announce the result. Look like they are urging us to reduce our 11% monthly contribution to 8%. Read this - don't sign the form to maintain the 11% monthly contribution cause we could not manage them, too hot to handle!

You have been warned so don't blame us if we announce the full year result in due course! Serious food for thought!

2 comments:

hoeyin said...

Bro, you confusing me la... 11% or 8%??? I think the other day The Star listed down that every year, EPF pays better dividend and returns in KLSE.

CheeWee said...

To maintain 11%, need to inform HR & sign on the form, wef Jan 09 salary. If no form, HR will reduce automatically to 8%, i.e. take home more $$$.

Yeah, read the article. The columnist said on average over the years, EPF paid -average out 6%, whereas during the same period, including the 97 crisis plus now, Bursa investment was worse off. However, we hv to hv an eye for the good shares, i.e. if we made some good choices, the returns shld be more impressive, as much as > 10%.