Recently a news report revealed that fund managers were in agreement that it is unhealthy for the Employees Provident Fund (EPF) to dominate 50 per cent of the daily trading on the local stock market. This raises an interesting question.

Najib had said the EPF’s dominance in Bursa is “not healthy” for the local stock market or for the EPF. This is cited as one of the reasons for allowing the EPF to invest up to 10 per cent abroad.

The EPF’s total funds amount to RM370 billion with a quarter invested in Bursa. The total daily value of transactions on Bursa can surpass RM1 billion per day. Today, for instance, it was RM1.03 billion.

And now the interesting question:

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If you haven’t, it is time you got acquainted with the man: Aneurin Bevan was the Minister of Health in post-war Britain who played a key role in setting up the National Health Service.

Aneurin Bevan

Aneurin Bevan - Photo courtesy of Wikipedia

It was Bevan who uttered these immortal words: “The collective principle asserts that… no society can legitimately call itself civilised if a sick person is denied medical aid because of lack of means.”

Which means health care is not a commodity but a basic right that should be made available and accessible to all. It also means we need a top-class public health care system with adequate funding. That was what the speakers at a Sembang-Sembang talk this afternoon, Dr Jeyakumar and Dr Jayabalan, stressed.

Many among the audience at the Caring Society Complex in Penang were moved when they heard a woman, Roszita, describing how she lost her husband, Ahmad Nazri, 49, a heart patient, because the couple were unable to raise RM19,000 in time to buy three stents that were needed to deal with blockages.

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The proposed RM2 billion terminal – but not enough funds for public transport? (Image from penangsentral.com.my)

Worried about low EPF dividends?

Here’s some food for thought.

Did you know that EPF is somehow associated with Penang Sentral?

Note 47 of the EPF Annual Report for 2007 shows a list of the EPF’s associated companies. Among them is Penang Sentral Sdn Bhd and it shows that the EPF has an effective equity interest of 100 per cent.

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