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KUALA LUMPUR: Malaysian banks remain committed to assisting its customers and borrowers post-automatic blanket moratorium which ended on Sept 30, particularly those who continue to be affected financially.
PETALING JAYA: There is still hope for Malaysia if the country embarks on reforms, says Datuk Seri Nazir Razak
“ET tu, Brute? (And you, too, Brutus?), ” Julius Caesar uttered as his close friend Marcus Brutus stabbed him in William Shakespeare’s fictional account of the murder of the Roman dictator, The tragedy of Julius Caesar.
“I am relieved that the government has allowed us to take out money from Account 1 of our Employees Provident Fund (EPF). I sell flowers and cookies from home to earn a living while my husband works in Singapore. My business was badly hit due to Covid-19 and my husband was unable to send back as much money as he used to as he now has extra expenses to bear due to the closure of the border. He used to travel back and forth between Johor and Singapore daily but he now has no choice but to remain in Singapore where he has to fork out extra cash for his rent there as well as for his daily basic needs. I am depending on my sales here for my five children who are between 14 and 24-years-old. Three of them are schooling while two are still looking for jobs. The money from the EPF really helps to ease our burden but I have made it a point to only take it out when we are desperate. ”S. Sumathi, 47, trader
Fund has to juggle between being a retirement fund and an aid in times of crisis
AS more withdrawals are made from the Employees Provident Fund (EPF), there are concerns that this will affect the local equities and bond markets.
Permodalan Nasional Bhd (PNB), the country’s largest fund manager, surprised the market this week after announcing that it plans to sell its entire stake in one of its flagship investee companies – Chemical Company of Malaysia Bhd (CCM).
Blanket EPF Account 1 withdrawals and extensions to the loan moratorium set dangerous precedents
ON Monday, the Employees Provident Fund (EPF) released the new and improved mechanism to allow members to utilise their retirement savings held in Account 1 of their EPF account under a new programme named i-Sinar.
KUALA LUMPUR: Maybank Investment Bank Research is maintaining its earnings forecast and RM1.29 target price for SP Setia Bhd with a Buy call.