This is sequel and “happy ending” to the earlier post on Monday, Haslinda vs EPF on the inordinate delay in approving her application for EPF Withdrawal Scheme for Education to the extent that she faced the risk of losing her student status in a local public university.
I had promised to phone the new EPF Chairman Tan Sri Samsudin Osman the next day on Haslinda’s case, as on Wednesday, I was to be admitted into the Penang Lam Wah Ee Hospital for an eye operation.
But the EPF Chairman could not be contacted in his office at EPF Headquarters on Tuesday as he was away in Putrajaya, though I left word with his secretary as to the purpose of my call.
The next day, Haslinda sent me a sms to inform me that EPF had called and informed her that the cheque was ready for collection in Shah Alam branch.
I have just received this email from Haslinda with advice for others in her shoes:
Dear Y.B. Lim
I hope you are ok and recovering from the operation.
I was on leave yesterday and collected the said cheque from EPF Shah Alam branch. They called me on Wednesday afternoon and asked me to come and collect it. I did question them why it was not posted to us as the normal procedure. They mentioned that there is some problem with the Bank (RHB) and as usual, blaming the system.
There was no hiccup when collecting and from what I could see, there is a minor improvement in terms of the waiting time as compared to my visit in January this year. The University did not charge us late penalties of RM80.00, guess they must have been contacted by EPF personnel.
In this case, I have followed their requirements by producing the necessary documentations required, i.e. photocopy of I/C, copy of exam results, student card, and also letter from the University. I believe if we follow the procedure closely, there should not be any hiccups or problems with our application (poor me, I was wrong!). Instead, I was given a piece of A4 paper, stating that the application will be processed accordingly (previous practice was, EPF would give an acknowledgement card, similar to the registered letter card from post office) and I have surrendered it to the Treasury Dept as a proof that I have submitted my application to EPF. Previously, we will be getting our cheque via Pos Laju, within 2 weeks after application. I have been using this method for the past 2 years and there is no major problem such as the recent one.
I was panicking when my friends called me up on Monday relating the same problem that I was facing. I did try to call up their Customer Service Hotline but as usual, I was being put “On Hold” for at least 20 minutes each time I called (my friends tried, same problem). As time is of the essence in this case, I had no other way but to call up Telekom Directory Services to get their HQ phone no. in KL. Again, as you mentioned in your earlier email, once again, I was put “On Hold” for at least 20 minutes and finally I managed to speak to Nariza, the Chairman’s PA. I voiced out my disappointments to her and she also confirmed that there are still a lot of claims that they have yet to process and will take quite some for them to process. I then asked for the Chairman’s fax no. and told her I wanted to put everything in black & white and the rest is as you have read in my letter.
Based on my experience, I would suggest that those who are facing the same problem to try to do the following:
1. Check your facts and make sure that they are accurate.
2. Make copies of what you submit to them, I even keep the “Queue Number” when I submitted the form on 17 January 2007.
3. Don’t be discouraged when being faced with sarcastic remarks/answers from them. Be focus on what you want to achieve at the end of the day.
4. Know your right. Do not simply accept their reasons because some times, they do give reasons for the sake of reasoning and it does not make sense. Remember at the end of the day, it is your money and not theirs!!
5. When everything else fail, go to Y. B. Lim, he can do miracle….hehehehee
Anyway, at the end of the day, I managed to get my cheque. Upon checking with my friends, they mentioned that on Wednesday evening, EPF called them up personally and asked them to collect their cheques. It shows that they do need someone to shake them up. I really pity those who are illiterate, who can’t write and don’t know how to complain…they will be lost when being passed around by these people.
Y.B. Lim, my friends and I would like to thank you for assisting us in getting our money. We know that the media could not be bothered with this kind of issue as there are more deserving cases such as “PM going overseas”, “Why Linda Onn did not appear on red carpet”, ” Siti Nurhaliza still not pregnant”…etc. Although the cheque issue is settled, I am still waiting for their response in black and white, as to why there is delay in our application.
Once again, thank you very much.
Regards
Thanks Haslinda for the compliments. I am no miracle-maker but I am prepared anytime to shake up the “authorities” to remind them that they are the servants and not masters of the people.
Mr. Lim … congratulations. Good job well done. We need more people like you in the younger generations!
well, Uncle lim, i think u really are a miricle maker. don need to b modest in accepting tt compliment. anyway, e next time, don juz shake them up. juz kick them in e nuts.
oh yeah, to haslinda, if u do read this blog or post, would u b voting for DAP now or e blood suckers? hahaha…. juz joking, wont b wise to put ur ans here. anyway, juz know who r actually doing their jobs n who isnt.
one more thing, if u can take ur money out of EPF, please do so because EPF gonna buy RHB bank de. from haslinda’s experience, seems like RHB bank is useless cuz got hiccups so many times or maybe juz EPF ppl lazy n blame RHB bank… or my guess which is both.
so it seems like since RHB bank is crap, many ppl go close account. so now no moooooney, then need to use people’s money from EPF to bail them out. i guess it will once again be a failure purchase, RHB bank die off, EPF write it off as a bad investment n ppl lose their hard earned money n gov say no money to pay out EPF n then go build summore big projects worth billions.
YB, it’s wonderful that u r able to solve Haslinda’s problem.
And Haslinda, all’s well that ends well for you too. Wish you every success in yr studies. You sound every bit bright, persistent and assertive. Kudos to you. Hope you do something too to help yr other friends in whatever manner of distress they may be in.
HOWEVER, I can’t help feeling very, very sad, nothwithstanding this small success – that the things happening in MALAYSIA, have become the butt of many a painful joke. The PM has to interfere personally to get a university lecturer, Terrence Gomez, ‘non-pay leave’ for a UN appointment!!! Then the Opposition Leader, YB LKS, has to plunge into the EPF torrents to save a girl in financial distress!! And so on….
Now you tell me – are there no better things in the country for the top 1 and 2 persons to do?
Oh yes, in my calculations, YB LKS is the NO.2 public servant. AAB is No. 1. More often, it’s the other way around. Sorrylah AAB.
Naguib – oh, Naguib is nowhere to be found. I don’t know who he serves!! But who will save Razak Baginda, eh?
I’m sorry, this is a little off topic but it concerns a related and important recent development of EPF’s successful rival bid for control of RHB Bank over EON Capital. (PM came out last night on TV to endorse it).
He was quoted in MalaysiaToday Blog to have said earlier after attending a briefing at Bank Negara’s board of directors quarterly meeting in Kuala Lumpur, “It (EPF) has a lot of funds. Don’t tell me it wants to just save it. If there are investments which the EPF considers to be beneficial and profitable after giving due consideration, it is a decision for it to make. I will not stop it,†he added.
It is an indirect way of showing where his sympathy lies. Just like the response in relation to allegations against the deputy minister of Internal Security – those innocent have nothing to worry.
The Govt should not show favour in a commercial deal between competitive bidders which are both local institutions. Govt is key arbiter since Central bank’s consent to bid is imperative.
However it is apparent that Pak Lah’s administration is happier with EPF’s success over Eon. That is my and many others’ perception anyway. What strategic political or economic considerations are in play?
Eon Capital is already in and knows about banking business. The board of EON Capital Berhad is capable. * It includes Rin Kei Mei, said to be known to and highly regarded by previous PM, Dr Mahathir. What’s the beef?
EPF, on the other hand, may have lots of money but it is supposed to manage prudently trust monies for us and should put them in safe investments.
How could it be said that investing in banking business is safe and profitable relative to the investment costs ?
In Malaysia’s experience, so many banks failed and needed bail out under cover of merger. To cite some cases, Tan Koon Suan’s failed Supreme Finance Bhd with acquired deficit of 6 to 700 million was taken over by Maybank group in early 1980s. Failed United Asian Bank and then Bank Bumiputra was taken over by Bank of Commerce which afterwards integrated with CIMB.
When Utama Banking Group Bhd (UBG) (associated with our Sarawak Taiko) took over RHB, it found a mess and sued the RHB’s top officers for breach of directors duties.
The history of RHB Bank itself was earlier founded upon merger with Sime Bank (once United Malayan Banking Corp.) .. .. and in UMBC itself, there was so much of controversy, if one digs back (lending to share speculation activities, the bank controlled by some ex lawyer cum corporate player whose name did not appear in shareholder/director list but however control it through his proxies etc).
Buying into Banking business is prestigious but risky (unless very well managed by hands on CEO cum substantial owner like in case of Public Bank).
Whatever profits made over many loans can be wiped out by a few mega huge and bad loans.
When you pay for bank’s shares, can the acquirer’s due diligence really pin down and estimate the banks assets accurately whether they will turn bad a year or two down the road?
EPF must have a lot of faith in credit culture and integrity of our bank officers to buy into a bank.
There are lot of factors that cannot be controlled by even bank management.
If cyclical property market cools drastically, (Non Performing Loan) NPL rates will loom exponentially.
Singapore’s DBS bought into Thai Danu Bank in Thailand, exited after a huge loss of over SG$ 1 billion due to sudden ballooning of NPLs.
How can anyone say Banking especially in our environment is not a risky business? How can anyone say that it’s ok or prudent for EPF, a trust institution, to take over substantial control of a bank?
EPF’s Investment Panel may have grandiloquent idea of doing banking. But how can the government be seen favouring EPF’s bid?
I bet there are some striong political considerations in play behind the govt being more predisposed toward EPF than EON ‘s bid. But it may not be to our interest when EPF is involved.
People,
There is another way that I find most effective when dealing with the gomen and other authorities, including banks.
When writing to them for whatever reasons, always remember the magic of ‘c/c’ ie Carbon Copy.
Yes, for your own success sake in double quick time, c/c to some authorities higher to the entity you are communicating:
Eg
When writing to a bank, c/c Bank Negara
When writing to a school, c/c Education Dept
When writing to EPF, c/c BNM?PM’s Dept?
When writing to Semi Value, c/c AAB
Get it?
And guess what? You don’t really have to sent the hard copy!! Do you think they will take a chance that you didn’t really sent the c/c?? No Sirrreeeeee. You not only get quick action in double quick time, you get their cooperation to act in your favour too!
Now, who should I c/c this e-mail to?? :)
I remember some years ago, when Sime Bank went belly-up, its top man was quoted that “They were no good bankers” despite their overall management structure being top notch.
Now, this EPF foray to buy UBG’s stake in RHB has got me very, very nervous. I wonder whether the EPF’s “lots of funds” (per PM AAB) will remain intact sufficiently long enough for me to qualify to withdraw all my balance before the EPF goes belly-up. I dont mean EPF will go “belly-up” as in folding up as a business would do, but the first signs will be when the Govt starts putting feelers out that it will discard the lumpsum withdrawal at 55 years to something like, say, a compulsory lifetime monthly payment (call it “pension” for all members, till death, and only then the balance will be distributed to the contributor’s beneficiaries as per nomination form (not according to the deceased contributor’s will)). There is already such an annuity option available for those who opt for it, but when the Govt make it compulsory of contributors, it’s the signal for all contributors to be worried…. VERY, VERY worried.