EPF: This Is Service!

Yes, the EPF has become people-centric!

Beginning this month, it opens its office at Shah Alam, Petaling Jaya and Kepong on the first and third Saturdays of every month from 8.30am to 12.30pm.

However, payments of contributions cannot be made on Saturdays.

If these days fall on public holidays, then they will also not open.

Among the services offered are receiving withdrawal applications, providing and receiving EPF forms from employees and employers, issuing members' statements of accounts, handling enquiries and giving advice on EPF services.

Looks like a minimal service offering........

Why you should attend AGMs - not for free food and door gifts

Ooi Kok Hwa wrote this in THE STAR today. Makes interesting reading.

"There are many reasons why investors look forward to attend an annual general meeting (AGM). Some attend because they hope to get free door gifts, while others look forward to the free food.

Nevertheless, there are serious investors who prepare well for an AGM. They are there to seek answers to issues related to the listed companies.

However, some investors feel that it is a waste of time to ask questions during the AGM as company directors will find ways to avoid answering them – for example, issues highlighted by investors in the previous AGM that have yet to be resolved.

We encourage investors to attend AGMs because this is the best time for them to ask questions about the financial performance and/or business decisions of the companies.

Given the time constraints of AGMs, we advise investors to read through the annual reports before attending these meetings.

Investors need to focus on company issues and not on the personalities of certain company directors. If possible, investors should take down notes so that they can refer back to the things that the company directors have promised to do.

Investors also need to examine all the resolutions at the AGM – for example, directors who are newly appointed or those seeking re-appointment.

We need to scrutinise whether these directors have relevant experience and appropriate financial skills as well as their background and reputation in the industry.

One of the most important issues to investors is dividends. We need to check not only the stability of dividend payments but also consistency according to the company’s dividend policy.

Companies need to reward shareholders with good dividends if they are unable to find any good investment opportunities to utilise the excess cash.

Unfortunately, we have seen a lot of companies that refuse to pay special dividends despite having excess cash.

One of the most common questions raised by investors is about directors’ fee. Most of the time, the fee should be the same as in the previous year.

If there are any significant increases, we need to check whether the fees are proportionate to the reported earnings as well as the overall salary expenses.

Given that AGMs are normally held a few months after the previous financial year-end, investors can take the opportunity to ask management about the outlook for the current financial year versus the previous year’s performance.

We can also request the management to elaborate further on the company’s prospects, capital expenditures or special capital calls in the near future.

Lastly, we need to exercise our rights by voting on the resolutions. Sometimes the results of the resolutions may not be in line with our wishes, but at least we have voiced our views.

If minority shareholders are active and show interest in the company’s future, management will likely be more careful in making business decisions, especially on projects that may be viewed as not maximising shareholder value.

Ooi Kok Hwa is an investment adviser and managing partner of MRR Consulting."

Now, you know why Genting M does not tell us why they did not dispose of the USD1.5 million cash hoard they have as dividends or as a bonus issue?. They are going to America!

Adventa: A Potential Buy-in

OSK has maintained its 'buy' recommendation on Adventa today, setting the target price at RM5.37. Is this a bridge too far?

Maybe at the moment, it may look far-fetched.

OSK expects Adventa to announce its second quarter 2010 results today, which they figure may come in below their  expectations.

OSK cited higher latex price, smaller new orders and the weakening of the USD against MYR during the quarter for their stance..

'Going forward, we believe 3QFY10 would be a better quarter for Adventa as the latex price increase is easing and the USD-MYR rate has stabilised, and it experienced a slight increase in production capacity from its new nitrile glove lines,' OSK added.

Seriously, is OSK talking through its hat.?

With this type of projection for Adventa's price, I fear OSK may just eat crow!

Not bird-Brained!

Smart bird!

Elvis-My Way

Amazing Grace!

Elvis Oldies yet Goodies!

 Suspicious Minds


Elvis' weddings photographs through the song, 'You Were Always On My Mind'.


 Lonesome no more with Elvis.



My first memorable song from Elvis! 'Return to Sender'



'The Wonder of You' - Elvis at his best!



Wooden Heart, we all ain't!

Engelbert - Suave and Sizzling!

Definitely not the 'Last Walz'



'Love Me with All of Your  Heart', pleads Engelbert, in full verbal compassion.


Engelbert songraphy through the mezmerising, " Eternally".



Engelbert sings Stranger in Paradise. Enjoy!

EPF : Becoming Relevant

The list of critical illnesses had been expanded from 13 to 36, EPF chief exeutive officer Tan Sri Azlan Zainol said in a statement today. 

"The new expanded list takes into consideration the significant costs required in treating these critical illnesses, and is aimed at helping members fully settle or help ease their financial burden of seeking treatment," he added.

Members can now withdraw their savings also for Alzheimer's Disease, Parkinson's Disease, chronic liver and lung diseases, Systemic Lupus Erythematosus (SLE) with Lupus Nephritis and paralysis. 

Azlan said that for withdrawals to treat family members who are under the age of 16, joint withdrawal could be made with other family members to cover the required medical expenses subject to the balance in Account 2 and total cost of treatment.

Family members include spouse, children, stepchildren or legally adopted children, parents, parents-in-law, step parents or legally foster parents and siblings.

All withdrawals are subjected to the validity of medical report, bills and receipts which must not exceed one year from the date the withdrawal application is submitted. 

All bills and receipts must also be in the name of the patient or applicant.

Withdrawals are not allowed for illnesses outside the approved list or when the cost of medical treatment is fully covered by the respective member's employer or the employer of his or her family members.

Those receiving fertility treatments or alternative treatments such as acupuncture or traditional medication are also not entitled.

The 36 critical illnesses are aplastic anaemia, appalic syndrome, Alzheimer's Disease, benign tumour of the brain, blindness, cancer,

cardiomyopathy, chronic liver disease, chronic lung disease, coma, coronary artery disease, deafness, encephalitis, fulminant viral hepatitis, heart attack, heart valve replacement, kidney failure, loss of independent existence, loss of speech, major burns, major head trauma, major organ transplant, medullary Cystic disease, meningitis, motor neurone disease, multiple sclerosis, muscular dystrophy, paralysis, Parkinson's disease, poliomyelitis, primary pulmonary, stroke, surgery to aorta, systemic lupus erythematosus with lupus nephritis, terminal illness and total permanent disability. 

I think the EPF is becoming more relevant!