15/08/2025

FRIDAY | AUG 15, 2025

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RM14 billion withdrawn from EPF Account 3 since last year o Figure represents transactions by 35.1% of fund’s 13.2m contributors under age of 55 as of June, says PM Ű BY QIRANA NABILLA MOHD RASHIDI newsdesk@thesundaily.com

Anwar: MCMC not instructed to investigate Muhyiddin KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim has clarified that the Malaysian Communications and Multimedia Commission (MCMC) was not instructed to investigate Pagoh MP Tan Sri Muhyiddin Yassin over the recent RON95 targeted subsidy issue. He said MCMC was instead asked to verify the authenticity of the sources that were referred to in relation to the matter. “I asked MCMC for clarification. Some misunderstood and claimed that MCMC is being asked to investigate Pagoh. No. Let me clarify. I said the information came from one, two or three sources. I told them (MCMC), please investigate these sources. “If the sources are found to be unreliable, then the statement (based on them) is not valid. But let’s wait for MCMC’s findings first.” He was replying in the Dewan Rakyat yesterday to a supplementary question by Datuk Rosol Wahid (PN-Hulu Terengganu) on whether he would apologise to Muhyiddin pertaining to the issue. In the Dewan Rakyat last week, Muhyiddin, who is also Perikatan Nasional chairman, demanded an apology from Anwar for accusing him of defending foreigners over the RON95 targeted subsidy initiative. “I have no issue with apologising. But we’re still waiting for confirmation. One source has already been found to be inaccurate. If the remaining two are also found to be false, I have no problem apologising. “If MCMC confirms it, I will clarify and apologise to Pagoh MP, but let’s wait for it first.” Meanwhile, on the issue of legal immunity, Anwar explained that his application to refer eight legal questions to the Federal Court was regarding the interpretation of whether an action against the prime minister could be considered frivolous, vexatious or an abuse of process. “Immunity means that it cannot be disputed. The application is for the court to decide whether it is possible for anyone to attack the prime minister in a frivolous and vexatious manner that interferes with our field of work. “That is what the application is all about, and it is up to the court. The court makes the decision, not the prime minister,” he said in reply to Cha Kee Chin (PH-Rasah), who asked Anwar to clarify the allegation that he was applying for legal immunity from civil and criminal cases in court. – Bernama No interference on Petronas decisions: PM KUALA LUMPUR: Any decision on and review of upstream assets will be left entirely to Petronas, without political interference, said Prime Minister Datuk Seri Anwar Ibrahim. He said Petronas is a corporate body recognised as one of the best companies in the world, and a long-term perspective must be considered, given the uncertainties in the global oil and gas market. “Nonetheless, Petronas should take into account its asset portfolio. We see (Petronas has assets) in several countries, such as Brazil, where it has seven upstream, three development and four exploration blocks.” He said its operation in Canada, which is a strategic market, is due to its strength in a large natural gas reserve of around 50 trillion cubic feet. Anwar was replying to a question from Datuk Muhammad Bakhtiar Wan Chik (PH-Balik Pulau) in the Dewan Rakyat yesterday regarding the rationale for implementing the rationalisation of Petronas’s asset portfolio and its strategy to deal with global market uncertainties involving the sale of assets, such as in Canada and Brazil. – Bernama

PETALING JAYA: Since the launch of the EPF Flexible Account (Account 3) in May 2024, 4.63 million members have withdrawn a total of RM14.79 billion, said Prime Minister Datuk Seri Anwar Ibrahim. He said the amount represents 35.1% of the fund’s 13.2 million members under the age of 55 as of June. He added that the current total balance in Account 3 stands at RM10.16 billion. “Previous EPF special withdrawals, particularly from Account 1, were temporary measures to address the exceptional circumstances of the Covid-19 pandemic. “The EPF’s core mandate as a social protection institution is to ensure adequate retirement savings to support members in old age,” he said in a written reply to Parliament. He was responding to Datuk Seri Dr Shahidan Kassim (PN–Arau), who asked about the possibility of allowing 30% of Retirement Account (Account 1) savings to be transferred into Account 3 to help low-income citizens cope with rising living costs. Anwar, who is also Finance minister, said withdrawals from Account 1 would contradict the EPF’s role as trustee of retirement savings, and are inconsistent with international standards, which recommend providing nine fundamental branches of social protection to guard against vulnerabilities at various life stages, including old age. “To balance members’ long, medium and short-term financial needs, the EPF restructured its accounts in May 2024 into three categories – the Retirement Account (Account 1), the Sejahtera Account (Account 2) and the Flexible Account (Account 3), with contribution ratios of 75%, 15% and 10% respectively. “Account 1 is dedicated to retirement savings, Account 2 allows pre-retirement withdrawals for education, healthcare and housing while Account 3 enables members to access savings at any time, particularly in emergencies.” Anwar said EPF savings, particularly in Account 1, are intended for retirement and are not a long-term solution to cost-of-living pressures or temporary employment issues. He said the government has introduced various forms of assistance, including direct cash aid, targeted subsidies and special incentives to ease the people’s burden and safeguard their well-being. In a separate reply to Datuk Dr Alias Razak (PN–Kuala Nerus) on the use of EPF Account 2 savings for health insurance premiums, Anwar said the government, through Bank Negara Malaysia, the Health Ministry and the Finance Ministry, has launched the “Reset” strategy to address rising healthcare costs and private

Anwar said EPF savings, particularly in Account 1, are intended for retirement and are not a long-term solution to cost-of-living pressures or temporary employment issues. – MASRY CHE ANI/THESUN

transition, carbon pricing, strengthening coastal resilience and addressing the challenges of an ageing society. On her meeting with Bima Arya, Zaliha said they spoke about bold ideas for the future, of the region, including the vision of Asean 2045, with easier travel across borders, smarter waste and logistics systems and stronger digital connections between cities. “I also shared the Federal Territories’ role as a pioneer of the CHASE city concept under Malaysia Madani and extended an invitation for Jakarta to join this journey.” – Bernama “However, the government emphasises that purchasing the basic MHIT product will be voluntary and based on individual choice. As with other insurance and takaful products, policyholders are expected to pay MHIT premiums from any financial source they have. “Using EPF Account 2 funds is just one of the options available to members to purchase MHIT coverage.” Anwar said once the basic MHIT policy is finalised, the EPF is prepared to enhance its i-Lindung facility to allow the use of Account 2 funds for purchasing the product. He added that the structure and design of the MHIT product are still being finalised, with the concept expected to be completed by December and implementation targeted for the end of 2026.

insurance premiums. “One of Reset’s key pillars involves improving Medical and Health Insurance and Takaful (MHIT) by developing basic products that offer more sustainable and stable premiums in the long term. “The initiative also aims to help users better understand and choose their MHIT coverage. The revamped MHIT programme has three main goals – to provide broad, affordable protection for major healthcare costs, use private healthcare funding efficiently and promote value-based health outcomes.” He said engagement sessions with key stakeholders are ongoing to ensure that all views on MHIT product design are considered and aligned with affordability and long-term sustainability principles.

Discussions on cooperation with Singapore, Indonesia KUALA LUMPUR: Close cooperation of the Federal Territories with Singapore and Indonesia is expected to bring significant benefits to all three parties in realising the Asean Vision 2045, said Minister in the Prime Minister’s Department (Federal Territories) Datuk Seri Dr Zaliha Mustafa. Zaliha said during her meeting with Low, who is also the Mayor of Singapore’s South West district, discussions centred on the experiences and best practices of Asean cities, including the CHASE (clean, healthy, advanced, safe and eco-friendly) city concept adopted in the Federal Territories. “I also shared how this initiative began by listening to the voices of the people and integrating those aspirations into developments such as Kota Madani,” she said in a post on her Facebook page. She said cooperation with both countries was discussed during a courtesy call by Singapore Trade and Industry Ministry and Culture, Community and Youth Ministry Senior Minister of State Low Yen Ling and Indonesian Home Affairs Deputy Minister Bima Arya Sugiarto on Wednesday. Zaliha and Low also exchanged views on women-led urban leadership, clean energy