Lim speaks at a Chinese New Year celebration organised by the Pulau Pinang Royal Customs Department. The announcement of a favourable set of dividends for conventional and shariah savings for 2018 by the EPF proves that the country’s economic position is healthy, says Lim. — Bernama photo
BUTTERWORTH: The announcement of a favourable set of dividends for conventional and shariah savings for 2018 by the Employees Provident Fund (EPF) on Saturday proves that the country’s economic position is healthy, says Finance Minister Lim Guan Eng.
Describing the rate declared as extraordinary, he said most experts had predicted that the dividend would not exceed five per cent due to the current challenging and uncertain economic conditions.
“I feel that this is an exemplary performance, beyond the expectation of all parties. Experts had predicted that the dividend rate will not reach six per cent, to reach even five per cent would be difficult. As such this announcement is beyond expectation.
“Against a sluggish economic backdrop because of the conflict between the US and China, Malaysia can be considered as one of the best performing economy.
“But, we have to be cautious for the country’s sustainable economic growth to continue,” he told reporters here yesterday after attending a Chinese New Year celebration organised by the Pulau Pinang Royal Customs Department.
The Employees Provident Fund (EPF) declared a 6.15 per cent dividend for conventional savings with a payout amounting of RM43 billion and 5.9 per cent dividend for shariah savings with a payout amounting to RM4.32 billion.
In total, the payout for 2018 amounted to RM47.31 billion, a marginal decrease of 1.7 per cent from 2017. — Bernama