RM40 billion EPF withdrawals will boost businesses, say trade groups

Khoo Gek San

Tomei Group managing director Ng Yih Pyng says the gold jewellery business is active once again after two years of intermittent lockdowns and poor sales. – Tomei Facebook pic, April 27, 2022.

THE RM40 billion in Employees Provident Fund (EPF) special withdrawals is welcome news for businesses looking to boost earnings, especially with Hari Raya festivities around the corner, those in the goods and retail businesses said.

More than five million applications for withdrawals totalling RM40 billion were made to the retirement fund last month after the special withdrawal facility of up to RM10,000 per person was opened on April 1.

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  • This round of EPF withdrawal is merely a Hari Raya bonus for especially the Malays using their own savings. The ordinary folks want hard cash and the government desperately needs their votes.

    Posted 2 months ago by Simple Sulaiman