As usual, we are off the mark.
During the good years when banks were paying off fixed deposits at good rates, EPF was in the shadow-a laggard and whipping boy giving good money away at 'chicken shit' rate. Now it is forecasting low rates again, giving a thousand reasons why it cannot give better rates. So, what is new?
Right now, it has one bank, RHB, under its belt, a development banking agency, MBSB as well as a construction giant called MRCB with its nuggets of property in Brickfields. And what about the Sg.Buloh project and its profit offerings to EPF?
Coupled with that the government has been throwing handsome assets in the way of EPF. What can possibly go wrong? London property purchases? Tokyo stock market?
Let us read what Azlan of EPF has to say about your dividend potential next year.
The Employees Provident Fund (EPF) expects to declare a dividend rate of between 4.5 per cent and 5.5 per cent annually despite challenges in the global economy so says its CEO, Azlan.
He trumpeted in a good year like 2010, 5.8% was possible.
“The important thing is capital preservation. We feel that EPF now has got very good investments. Going forward, we are steady and comfortable,” he said
Azlan added EPF’s overseas investments during these challenging times were safe.
“On the positive side, we may find opportunities to buy or sell during the current market uncertainty, on a selective basis,” he said.
He said EPF was talking with the government to finalise the terms of the agreement on the development of the 1,200-hectare Rubber Research Institute land in Sungai Buloh.“We hope to finalise it before year-end,” he said.
So, do something for the members-build houses we can afford and give us first preference!
