"The EPF is assisting the rakyat to own houses; it is commendable that EPF is doing a public service."
Please. The EPF fund is not a Tabung Sosial for all and sundry.
It is OUR Simpanan Hari Tua, and we expect the fund to be managed for OUR BENEFIT and the way I see it, the huge RM402 billion fund is nowadays the Main Kitty for the government.
No wonder PMNTR was so smug with his declaration that Malaysia does not need to borrow from the IMF, bla bla bla..
Of course. Not when there’s a huge Piggy Bank with an almost open access to its content to be dipped into.
Assisting the Rakyat to own houses? Yeah, right...
It took me a long and often financially painful journey to be able to finally afford a home which a chunk of my hard-earned savings plonked into the EPF helped purchase.
Now, it seems that some Rakyats will get their loans to Perumahan Murah from the same EPF fund.
A small portion, I must concede, but the dipping into the kitty has been going on for years now like nobody’s business.
Who know what else the EPF fund has been subsidizing of late.
According to the Big Kahuna who seems to be popping out everywhere these days, (Side comment: A bid to propel him as THE MAN in view of an upcoming GE13 battle against Nurul Izzah perhaps?) there is nothing to worry.
"If the buyer does not repay the loan, then action will be taken. The house will be forfeited and sold to some 30,000 other housebuyers who are eagerly waiting for a chance"
Funny Ha Ha.
And where - pray tell - will these other 30,000 house buyers – whom I assumed will similarly come from the poor and down trodden to qualify for this – get their funding from?
Together now: THE SAME BLIPPING EPF-CREATED FUND.
As the Malays are fond to say: Gali lobang tutup lobang.
Stop dipping your greasy palms in the kitty as one fine day, it will dry up.
All it needs is like some 400 similarly-conceived schemes to supposedly HELP the RAKYAT.