EPF DIVIDEND AT 4.75% CONFIRMED

EPF DIVIDEND

The results is out - It's confirmed that EPF is paying 4.75% as dividend.

What are the responses to the result announced?

“MTUC immediate response to the announcement of the 4.75% dividend by EPF is DISAPPOINTMENT, especially when EPF persisted that they are doing much better,” said MTUC secretary-general G. Rajasekaran.

MTUC felt that the EPF had to explain itself. According to Rajasekaran, the 4.75% was “nothing to shout about” as contributors had previously received 8.5% dividends.

Prof Datuk Dr. Hamdan Adnan of Malaysian Consumers Association agreed that the rate should have been higher. Prof Hamdan urged EPF to be more transparent in its dealings and described the level of transparency as leaving “much to be desired.”

Malaysian Association of Productivity executive President Ahmad Moidin said EPF could have done better not that the Asian Financial Crisis was well over. “Before, their explanation was that they invested in companies that were not doing well due to the crisis. With the economic improvement, there should be better results.” Maybank share prices have rise approx 8 times against the price at the time of the crisis. Many other listed entities like Telekom, TNB, Maxis, PBB, YTL, etc, have also manifolded. Didn't EPF gained from the upsurge?

Malaysian Employers Federation President Jaafar Carrim said the dividend was reasonable and EPF should be commended for the result.

What about the contributors' response????

As for me, I'm more interested in the Performance Measurement System which was propagated by our beloved Prime Minister and implemented by the new CEO at EPF. I am interested to know how EPF measure their performance and what is the benchmark set and measured against as compared to the regions index. I am interested in the New Balance Scorecard System that the New CEO had talk so loud recently. How do they balance the performance of their results? How did they set the criteria for performance and did they listen to the customers and clients as enunciated in the Balance Scorecard philosophy? Did they recognize who are their customers and clients or is it that they only care to respond to the cabinet ONLY???

Again, my doctrine blares: "Mediocrity will only breed mediocrity".