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No. 4653 PP 2644/12/2008 (020369)

Thursday
December 4, 2008
TELLING IT AS IT IS www.sun2surf.com

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KUALA LUMPUR: The Employees
Provident Fund (EPF’s) investment
income in the third quarter fell 60.4%
to RM2.06 billion from RM5.19 billion
in the second quarter this year.
The income was also lower than
RM4.25 billion in the third quarter of
last year.
The drop was mainly because of
the fall in income from equities to
RM1.26 billion compared to RM2.54
billion in the second quarter, said EPF
in a statement.
In line with accounting best practic-
es and as a conservative provisioning
» Fewer visitors expected pg2
EPF’s investment income down 60.4% in Q3
policy, the EPF also made allowances
amounting to RM2.29 billion for dimi-
nution in value of equity investments
due to deterioration in market value.
The pension fund invested RM77.68
billion of its assets in equities with the
bulk of it in trade and services (38%),
finance sector (33.9%) and equity
(8.5%).
EPF said its income from Malaysian
Government Securities (MGS) and
loans and bonds posted higher returns
compared to the second quarter. In
the third quarter, returns from loan
and bonds increased 3.1% to RM1.71
» ‘Upset’ Tunku Imran quits Petra Group pg6
billion while the returns from MGS fourth quarter is likely to reflect the
rose 1.4% to RM1.21 billion. full impact of the global meltdown,
EPF invested RM102.37 billion in although there is still hope the local
MGS, RM132.6 billion in loans and equity market will bounce back due to
bonds, RM17.94 billion in money the country’s competitive edge.
market instruments and RM1.82 billion Commenting on the latest
in properties. quarterly results, Azlan said “the EPF
Its income from money market has maintained its MGS investments
instruments in the third quarter fell despite the bond market’s recent sell-
to RM142.25 million from RM191.46 off caused by concerns of inflationary
million in the second quarter. Returns trends triggered by rising transport
from properties fell to RM21.53 million and energy prices”.
from RM22.66 million previously. “MGS is still a low-risk investment
EPF chief executive officer Datuk and we will stick to such investments
Azlan Zainol said the outlook in the in the best interests of our members.
news without
borders
“In addition to this, we maintain
a low risk profile by continuing with
our policy of having the majority of
our loans and bonds in high-grade
companies with credit ratings of AAA
or AA,” he said.
“The outlook in the fourth quarter is
likely to reflect the full-scale impact of
the global meltdown, although there is
still hope for Malaysian equity market
to bounce back as we believe Malay-
sia’s competitive edge still has the
capacity to hold the country in good
stead during these difficult times,” said
Azlan. – Bernama

Bill needs support of all by Terence Fernandez

newsdesk@thesundaily.com

UALA LUMPUR: The

commission on enforcement
agencies such as the police,
immigration and customs.
the judicial candidates.
“The members of the commission
will meet among themselves and
party or individual, he said his
reforms were meant to be realised
only beyond the second half of his

K
Malaysian Anti-Corruption
Commission (MACC) Bill
which will be tabled on Dec 10
is a law that deserves the support
of all Members of Parliament as
it will address weaknesses that
have plagued the Anti-Corruption
Agency (ACA) for so long, blotting
its credibility and hindering its
effectiveness.
Prime Minister Datuk Seri
Abdullah Ahmad Badawi said the
Bill, once passed will ensure an
effective ACA that will eventually
contribute to keeping the country’s
The JAC has received the
endorsement of the Bar Council,
although it is pushing for a
representative on the committee.
“Suffice to say we will have
people of the utmost credibility and
experience.
“As long as we have good people
on the panel, we will have good
people on the Bench,” Abdullah said.
He said in terms of procedure,
there will be no interference from
the Executive in the nominations of
decide on names based on secret
ballot voting. In fact, we need to
safeguard against interference or
inappropriate pressure from all
parties, not just the Executive,” he
said.
In the two-hour-long lunch
meeting at his home in Jalan
Bellamy last week, the prime
minister also explained why some of
the reforms he promised had fallen
short on delivery.
Refusing to blame any single
premiership.
“You must remember my
manifesto in 2004 was not a
manifesto to be implemented in four
years. That manifesto was for the
second half of the period towards
2020,” he said.
» Man on a mission: pages 14-16
» Transparency welcomes an
independent MACC: page 4

EPAPIX
Corruption Perception Index at low
levels and improve public confidence
in the administration of the day.
“This is why all of us, from both
sides of the divide, (must) think
about what’s in the best interest of
the people,” Abdullah said in an
interview with theSun.
“I hope everyone will look beyond
partisan lines and vote for what is
Glad
best for the rakyat. This is going to it’s over ...
I hope change how the ACA works. You A Thai anti-government
will see a different kind of ACA.
everyone One with clout that responds and is
protester holds a poster
showing Thai King
will look beyond answerable to the rakyat,” he said.
Abdullah did not reveal details of
Bhumibol Adulyadej
and Queen Sirikit
partisan lines the Bill, saying he wanted the MPs while celebrating
who will eventually vote on it to
and vote for have a first look. However, yesterday,
the announcement
of victory and
what is best for theSun, quoting sources revealed
that the MACC will see the ACA
prior to leaving
the Suvarnabhumi
the rakyat. This is becoming a commission that reports International Airport
to Parliament and curbing the
going to change discretionary powers of the Attorney-
in Bangkok yesterday.
Thousands of anti-
how the ACA General (A-G)’s office to prosecute.
Five advisory and review
government protesters
ended their occupation
works. You will committees will be set up, each of Bangkok’s two
comprising MPs, professionals and
see a different one even headed by a retired judge,
airports yesterday,
lifting their week-long
kind of ACA. One to further enhance the functions of
the commission.
siege that has crippled
the country’s tourism
with clout that “The MACC is part of the reforms and export sectors.
I want to introduce before I leave in
responds and is March,” Abdullah said, adding that
The first plane to land
was a Thai Airways
answerable to his other focus was on setting up the
Judicial Appointments Committee
International flight from
Phuket.
the rakyat.” (JAC) as well as a special complaints Full report page 10