MAKE PUBLIC ACCOUNTS INVOLVING EPF LOANS!

DAP Sabah has expressed concerns over Employees' Provident Fund (EPF) loans to Federal Land Development Authority (Felda) or any other Government affiliated entities for that matter.

DAP Sabah Assistant Secretary Junz Wong said EPF has given out more than RM6.5 billion loans to Felda alone.

This is our retirement funds (public fund) that was given as loan so we have the rights to know what had happened to our money.

Felda Global Ventures Berhad (FGV), a subsidiary of Felda, shares had dropped below the issuing price for the first time ever mainly due to allegations of its top personnel involvement in money politics.

While both FGV and Felda have been suffering from massive losses, Prime Minister Najib quickly announced strings of benefits and rewards to all Felda settlers worth billions.

"This move was obviously made to ease the dissatisfaction of these Felda settlers over the losses suffered by FGV and Felda over these years," Junz said.

How do we know that our EPF money has not been given out as "loans" to bail out Felda bad performances over the years?

With National Feedlot Corporation(NFC) RM 250million soft loan hovering neither here or there, how can EPF guarantee everyone of us that EPF will collect every single cent with its interests from Felda? For how long will Felda take to repay our retirement money?

"All these questions are frequently asked by EPF contributors and concerning citizens of Malaysia," Junz affirmed.

Junz Wong who is also DAPSY KK Assistant Youth Chief has called on Prime Minister Najib Razak to instruct FGV, Felda and EPF to make public of all their accounts, repayments, agreements and any transactions on regular basis.

"That way people can know that what they had done or whatever they are doing now are genuine and within the law," Junz explained.

This concerns public interests within the government investments, transactions involving public funds so there must be transparency and accountability. Effective reforms must be carries out urgently to restore public confidences, Junz concluded.