EPF's alleged insider trading. Scandal again?

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The Securities Commission (SC) said recently that it is following up on claims that the Employees Provident Fund (EPF) was potentially involved in insider trading of Malaysian Resources Corporation Bhd (MRCB) shares.

We hope the allegation is untrue and inaccurate. If this is found to be true, we want all those who are involved in abusing the workers' hard earned money to be hauled up and charged in the court of law for mismanagement of public funds.

EPF had recently declared a reasonably high dividend rate for the last financial year and we appreciate that, but it does not mean by having the excess of funds, you can do whatever you like with the workers' money. It is our money and not yours.

EPF is where we as employees save our hard earnings for our old age in future once we all retire. If the EPF management team cannot manage or prevent such power abuses, we are suggesting a new federal government to take over and put EPF in a proper order.

Just another reminder, "EPF is our Savings for Old Age".

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