Friday, May 19, 2006

what the fuck is epf doing with all our money ?

since i wrote something on epf the other day, i decide to browse through the kwsp website. interesting enough, there a some information worth mentioning.

their latest financial report is only up to 2004, but this caught my attention.

kwsp top 20 equity investment by percentage listed at bursa malaysia.

1. malaysian building society bhd - 63%
2. rashid hussain bhd - 31%
3. commerce asset holdings bhd - 25%
4. cycle & carriage bintang bhd - 20%
5. the news strait times press - 19%
6. globetronics technology bhd - 17%
7. ammb holdings bhd - 16%
8. acp industries bhd - 15%
9. drb-hicom bhd - 15%
10. akn technology bhd - 15%
11. sime darby bhd - 14%
12. melewar industrial group bhd - 14%
13. petronas gas bhd - 14%
14. jt international - 14%
15. ytl corporation bhd - 14%
16. wct engineering bhd - 14%
17. star publication bhd - 14%
18. chemical co. of malaysia bhd - 14%
19. patimas computer malaysia bhd - 13%
20. ijm corp bhd - 13%

on the profile of the members, the chairman, Tan Sri Abdul Halim Ali is also the chairman of malaysia buildings society berhad and director in cycle & carriage. coincidence ? i find that very hard to believe. 63% stake in a company in which you are also the chairman ? is that allowed ? somebody please tell me i'm wrong.

one of the panel of investor, Nazir Abdul Razak which is najib's brother by the way is also one of the director in commerce asset holdings bhd. can actually advise epf to invest in a company in which you are also a director ? come on, both cases have multiple conflict of interest, how can this be allowed. and this shareholdings are big.

next on anyone mind would be, why arent they investing heavily on top gunners dividend payers like, public bank, dutch lady, esso, bat, etc, and if you run through the investment portfolio, a large chuck of it is in govt bonds. they call this safe investment. how abt property investment ? minimal. you heard of ppl making a killing when they acquire properties on posh places, like kiara, damansara, taman duta, and we wonder where is epf ?

this is why we get shitty dividends.

3 comments:

KY said...

since when did u think they care?

Inevitable said...

And all we can do is sit duck until u are 55 years...

ducky said...

you mean they dont care ! omg ! its the end of the world ! we cannot retire, we have to work 100 years old !