Have Dr Wee and Wan Fayhsal gone on the “defensive” ever since EPF declared the “high dividend” recently?
It's highly likely that the majority of the more than 8 million contributors to the Employees Provident Fund (EPF) would have been ecstatic over the unexpectedly high dividend of 6.3% declared recently for both the conventional and shariah savings for the year 2024!
However, MCA president Dr Wee Ka Siong and Bersatu supreme council member Wan Ahmad Fayhsal both appear unimpressed and have refused to budge from their firm stand.
Still adamant that EPF had incurred “losses” from the MAHB shares deal…?
In fact, Wee had reportedly said that the higher dividend declared would not erase the losses suffered by EPF in the “selling low and buying high” shares saga relating to Malaysian Airports Holdings Bhd (MAHB); according to him, the dividend paid out to contributors could have been even higher (than the 6.3% declared) if not for the controversial transaction!
Furthermore, the MCA president had denied that he had said EPF was in critical condition, or that the retirement fund would give lower dividends as was claimed by the information chief of Pakatan Harapan’s youth wing Ammar Atan; a furious Wee had accused the latter of making a false and “defamatory” statement. (Was he hinting at taking legal action…?)
Meanwhile, vocal Machang lawmaker Wan Ahmad Fayhsal seemed to have a different kind of bone to pick; ironically, he had questioned the high dividend payout by the Employees Provident Fund (EPF), claiming that it could have been aimed at trying to gain the favour of the public.
Was the high dividend declared actually designed to boost public perception of the unity government?
Unsurprisingly, Fayhsal had poured cold water on the impressive 6.3% dividend announced which was said to have been the highest paid out by EPF in seven years; according to the former Bersatu youth chief, it was immaterial as the total payout of RM73.24 billion allegedly took up almost all of EPF’s RM74.46 billion investment income for 2024!
Nevertheless, critics may argue: Isn't it the norm for retirement funds, unlike ordinary businesses, to redistribute almost the entire net income from investments for the particular year as dividend to their members?
Anyway, just like the MCA president, Wan Fayhsal has also taken umbrage at the allegations hurled by the PH youth information chief, and has effectively given the latter an ultimatum: Apologise and retract the slanderous statement or get ready to be sued!
Wan Fayhsal warns PKR youth leader: “Don't stir the hornet’s nest - you haven't reached our standard yet…!!”
For the record, it would seem like from the onset the Machang MP has been stridently opposing the privatisation deal involving MAHB and GIP-Blackrock, not just in his social media accounts, but also in parliament.
In fact, he had even alleged in a Facebook post last December that the Madani government was literally “toying” with the rakyat including EPF (KWSP) contributors by selling the MAHB shares at a lower price and where a potential loss of up to RM4.9 billion may be incurred; could this be among the reasons that had prompted the PH information chief to lash out at Fayhsal and demand for an apology?
In closing, the latest turn of events in the neverending EPF-MAHB “shares” controversy may have actually sparked an interesting talking point among observers: Why is it that ever since EPF announced the unexpectedly high dividend recently, both Dr Wee Ka Siong and Wan Ahmad Fayhsal seemed to have gone on the defensive - even to the extent of hinting at legal action for "defamation?"
Main information source: Focus Malaysia, FMT, Suara Keadilan, Malaysiakini, Malaysia Gazette and Facebook Wan Ahmad Fayhsal.
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