KUALA LUMPUR: The Employees Provident Fund (EPF) believes the direction of the upcoming Budget 2019 would be focusing on the people’s welfare in order to ensure meaningful life for all Malaysians.
Chief executive officer Tunku Alizakri Raja Muhammad Alias said EPF also hopeful the Budget 2019 would have balance form fiscal and economic perspectives.
“The government needs to look at wages. We are in situation where the cost of living is starting to outstrip the people’s earning income,” he said after the report launch: Case Study on Employees Fund of Malaysia, here, yesterday.
He added that majority of Malaysians on average owe RM1.46 for every RM1 they earn. This can be managed from financial literacy aspect and budgeting.
“It is the high time for the policy makers and non-government organisations as well as stakeholders to sit down and have real hard discussion,” he said.
On EPF foreign investments, he said the ongoing trade war and global uncertainties as well as geo-political risks were affecting every fund manager not just EPF.
“Our investments are in over 40 countries. We are very cognisant of the geo-political risk that is happening. We are keeping eyes on it.
“But, we have seen in the past two weeks – the global and domestic markets have not been performing very well,” he cautioned.
Tunku Alizakri said EPF’s focuses on a long-term oriented investment, while cautioning every investment would face fluctuation.
“This is a good opportunistic buying possibility for EPF because things are cheap and it is time for us to buy,” he concluded.