MTUC: Let EPF invest abroad more aggressively
MTUC president Datuk Abdul Halim Mansor addresses a press conference in Subang Jaya December 26, 2019. — Picture by Choo Choy May KUALA LUMPUR, Feb 22 — The Malaysian Trades Union Congress hopes the government would give the Employees Provident Fund all the leeway it needs to invest abroad more aggressively to offset any downturn in the domestic economy.
Its president Datuk Abdul Halim Mansor said returns from investments abroad had been very positive for the fund and enabled it to announce satisfactory dividends for 2019 despite the daunting economic environment. The EPF today declared a dividend of 5.45 per cent for Simpanan Konvensional and 5 per cent for Simpanan Shariah, which involves a payout of RM41.68 billion and RM4.14 billion, respectively. “In this context, MTUC is confident that the EPF will scrutinise and, if needed, make improvements to its internal processes and procedures to approve investments locally and abroad to maximise returns for better dividends. “At the same time, MTUC urges the government to ensure national policies are continually reviewed and improved to bring about an environment that will stimulate investment and raise the productivity of workers,” he said in a statement. On the domestic front, Abdul Halim said the KLCI had dropped by about six per cent for the whole of last year, making the nation’s stock market among the worst performers in this region. The showing reflects directly on the difficulty faced by the EPF in giving out higher dividends to the contributors. The local equity market was also weak. Globally, geopolitical developments and the US-China trade war were among the factors that stunted the global economy. “All these developments impacted EPF’s investments which resulted in lower dividends for 2019. But we are confident EPF will take appropriate measures to see if its investment policies can be strengthened to tackle the economic headwinds ahead to ensure better returns from 2020 onwards,” he said. Abdul Halim noted that dynamic policies must be put in place to address the challenges of the digital era in a world without borders, which could help elevate Malaysian companies and government-linked companies into truly competitive global players and at the same time, help the EPF achieve better returns. — Bernama
Please follow us on Google to support us Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EPF announces 5.45pc dividend after ‘challenging’ 2019 | Malay MailKUALA LUMPUR, Feb 22 ― The Employees Provident Fund (EPF) delivered a solid performance for 2019 in terms of both its operational and financial results, allowing it to declare a dividend of 5.45 per cent with a payout amounting to RM41.68 billion for Simpanan Konvensional. With this, the EPF...
Read more »
Lower EPF dividends for 2019 fair and satisfactory, says MTUCHowever, MTUC president Abdul Halim Mansor says EPF needs to find ways to secure higher dividends in the future. FMTNews MTUC EPF
Read more »
2020 to be challenging due to Covid-19, says EPF chief | Malay MailKUALA LUMPUR, Feb 22 — The Employees Provident Fund (EPF) expects 2020 to be just as or even more challenging than 2019, with the full impact of the COVID-19 virus likely to drag down already soft global growth, Chief EPF Officer Alizakri Alias said. The US-China trade war still sees no signs of...
Read more »
MTUC accepts 2019 EPF dividend rate of 5.48 per cent as being fairKUALA LUMPUR: The Malaysian Trades Union Congress (MTUC) accepts the lower dividend from the Employees Provident Fund (EPF) as ‘ fair’.
Read more »
MTUC wants EPF to invest aggressively overseas | The Malaysian InsightCongress wants policies to address challenges of digital era.
Read more »
MTUC says EPF dividend rate fair in view of economic challengesPETALING JAYA: The Malaysian Trade Union Congress (MTUC) says the EPF dividend rate for 2019 is relatively fair considering the pressing economic challenges in Malaysia and globally.
Read more »