Tuesday, March 17, 2009

EPF @ KWSP - 4.50 % Dividend Rate For 2008

As promised last month, KWSP @ EPF announced its 2008 dividend today. And as expected by most of us, the dividend is lower compared to the previous years, at 4.50%. I got partial of the announcement here:

"Despite the financial meltdown, the EPF recorded the highest ever earnings of RM20 billion in gross income for 2008. This represented an increase of 9.36 per cent over the previous year’s gross income of RM18.29 billion.

Tan Sri Samsudin Osman, EPF Chairman said, “While the year 2008 was challenging due to the unprecedented global financial crisis that has impacted economies worldwide, EPF’s investment portfolio for the year performed better at the gross income level compared to 2007. However, due to the sharp decline in the equity markets, a large provision had to be made resulting in a marked reduction in net income.” "

I would say, It's impressive for EPF to record such a high earnings in 2008, despite the global financial crisis. Eventhough I wish for better dividend rate, I am thankful for the 4.5%. We hope for the best for 2009.

The dividends will be credited to its members’ accounts on 23rd March 2009, next Monday.

You may read related news on NST online too.