Wee Ka Siong Wan Fayhsal Have To Swallow Their Pride As Epf Declares Highest Dividends In 7 Years

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AS the 8.78 million active members of the Employees Provident Fund (EPF) rejoiced over the 6.3% dividend for its 2024 financial year, MCA president Datuk Seri Wee Ka Siong who is one of the two major critics of the retirement fund has denied claiming that “EPF was in critical condition or there would be lower dividend for last year”.
This follows the call made by the PKR Youth information chief Ammar Atan who called for the Ayer Hitam MP and Bersatu supreme council member Wan Ahmad Fayhsal Wan Ahmad Kamal to apologise for having incessantly “sparking panic” by stating that EPF “is in is in a critical condition and will pay low dividends”.
“A higher EPF dividend for 2024 doesn’t erase the fact that losses from the “sell low, buy back high” move involving MAHB (Malaysia Airports Holding Bhd) shares did happen,” he justified in a Facebook post.

“In fact, the dividend could have been even higher if that had not occurred.”
Added the former transport minister in his self-defence: “The issue (that) I raised was based on public records and intended to spark a constructive discussion on EPF’s investment management. Nothing more, nothing less.
“I demand that Ammar Atan retract his false and defamatory statement about me immediately.”
Earlier, Ammar who is also the Amanah Youth vice-chef has demanded that both Wee and Wan Fayhsal who is also the Machang MP “retract their accusations and apologise to Malaysians and EPF” for their malicious claims.

For the record, EPF had on yesterday (March 1) declared a 6.3% dividend for both its conventional and shariah savings for FY2024 which was the best return since the 6.9% in FY2017. The total dividend payout amounted to RM63.05 bil.
As a comparison, the retirement fund had churned out a return of 5.5% and 5.4% for its conventional and shariah savings respectively in FY2023.

Made possible by strong investment performance, the FY2024 dividend rates beat market forecasts of 5.8% to 6.2% for conventional savings and between 5.4% and 5.6% for shariah savings.
Aside from Ammar, both Wee and Wan Fayhsal who are seemingly viewed as “crusading against the sales of MAHB against BlackRock” have also been mocked by Madani government backers on the social media.
Likewise, brickbats were also hurled at the opposition faction for their lack of faith in the Madani government.




- Focus Malaysia

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