Be careful with our money, EPF told

The management board of the Employees Provident Fund (EPF) has recently approved the transfer of about RM1.5 billion from EPF to finance the special funding scheme for the sales of houses in public housing programmes in Kuala Lumpur. According to Umno supreme council member who is also the federal territories and urban well-being minister Raja Nong Chik Raja Zainal Abidin, the funds taken out from EPF will be given to the Federal Territories Foundation to help some 20,000 eligible tenants and interested buyers living in the People Housing Programme (PPR) and the KL City Hall public housing units. This is not the first time EPF has allowed these hard earned savings which belongs to our people to be channeled into different organizations and companies. And such transfers were worrying us right now since we all only got to know this via the newspaper reports today. Last year, we were informed that EPF had waived billions of Ringgit loaned to various GLCs and government agencies after an u...